In the News

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Jobless Claims in US (week ended Aug. 23) – Dropped again

The number of new applications for jobless benefits dropped again last week and remained near postrecession lows, the latest sign of improvement for the labor market. Initial claims for unemployment benefits fell by 1,000 to a seasonally adjusted 298,000 in the week ended Aug. 23, the Labor Department said Thursday. That was just below forecasts … Continue reading

Canada’s False Job Report – Caused by non-responses treatment

Statistics Canada’s investigation into the initial miscalculation of July’s jobs numbers found the issue was related to a major redesign of Canada’s Labour Force Survey, as well as employees’ “incomplete understanding” of processing systems…  Statscan’s review of the issue reveals that the survey, which undergoes updates after every census, is in the midst of a … Continue reading

US Official Unemployment Rate – The rise in nonresponse

A new academic paper suggests that the unemployment rate appears to have become less accurate over the last two decades, in part because of this rise in nonresponse. In particular, there seems to have been an increase in the number of people who once would have qualified as officially unemployed and today are considered out … Continue reading

Germany – Unemployment rate stood at 6.7 percent in August

The unemployment rate stood at 6.7 percent in August after adjustment for seasonal blips, the same rate as in July. But the number of people registered as unemployed edged up by 2,000 to 2.901 million, the Federal Labour Office said in a statement. This was unexpectedly bad. Analysts had been pencilling in a decline this month of about … Continue reading

France – Registered unemployment hits new record

Unemployment in France grew by 0.8 percent in July from a month earlier and saw a year-on-year growth of 4.3 percent, a fresh blow to the Socialists who promised to bring down the rampant number of unemployed people, official figures showed on Wednesday. According to the Labor Ministry’s monthly data, a total of 3.424 million … Continue reading

US Map – 20 cities with less than 4% unemployment

Twenty metropolitan areas with unemployment rates below 4 percent Chosen excerpts by Job Market Monitor. Read the whole story at Map: 20 US cities with less than 4% unemployment – Vox.

Hiring Gender Gap for Business Grads in US – 5 percentage-point in job offer finds BW

Women graduating from college with business degrees are less likely to get early job offers than their male counterparts, according to new data from Bloomberg Businessweek. The data show that 52 percent of female business majors who graduated this year had been offered a job by January, compared with 57 percent of male students. The … Continue reading

Employment Insurance in Canada – Hamilton hit hardest by new rules

Of all the unemployed in Hamilton, just 21.6 per cent of them are receiving employment insurance (EI) benefits, according to a new report that shows Hamilton has been the hardest hit city when it comes to tighter rules to access EI benefits.  The numbers, published by Press Progress, an arm of the progressive think-tank, Broadbent … Continue reading

Monetary Policy in US – The Pent-Up Wage Deflation hypothesis

Yellen, speaking at the Fed’s annual symposium in Jackson Hole, Wyoming, last week, again cited low wage growth as evidence that the labor market is weaker than the 6.2 percent unemployment rate suggests and that interest rates should therefore stay low. And then she proceeded to cite reasons to be wary of that proposition. Among … Continue reading

US – 41 percent of American workers do not plan to use all their paid time off in 2014

Americans are overwhelmed—but they aren’t taking the breaks they’ve earned. Nearly three-quarters of workers say they are stressed at work, with one-in-four reporting they are either “very” or “extremely” stressed. It’s no surprise that Americans feel this way. Many workers leave their paid time off (PTO) unused, despite near-universal recognition of the importance and benefits … Continue reading

UK Monetary Policy – Labour market data “give one a better steer about the evolution of spare capacity than output growth alone says Ben Broadbent

Since the financial crisis “labour productivity has stagnated”, this has inevitably made the MPC “less confident about any forecast of productivity growth over the next few years” and meant that “output data are no longer sufficient statistics for inflationary pressure”. Ben argues that labour market data “give one a better steer about the evolution of … Continue reading

US – The job market in one chart

When the Fed commenced rate hiking cycles in 1994, 1999 and 2004, the involuntary part time labor share was materially lower, while the prime age employment ratio was significantly higher. To wit: the prime age employment ratio stood at 78.9%, 81.4% and 79.1% as each of the last three tightening cycles got underway.  In July the … Continue reading

UK – A massive fall in self-employed earnings

Where there is no argument, though, is on the massive fall in self-employed earnings. The ONS estimates a 22 percent drop in pay since 2008. This is consistent with the Resolution Foundation’s findings and the HMRC figures I discussed earlier this year. As ONS says, the self-employed may under-state their income in surveys but they have … Continue reading

US – Employers are no longer investing resources in training

Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading

 Employment Insurance, June 2014 in Canada – Little changed

Following a decline in May, the number of people receiving regular Employment Insurance (EI) benefits was little changed in June at 501,900. The number of beneficiaries fell notably in Ontario and New Brunswick, while increasing sharply in British Columbia. The change in the number of regular EI beneficiaries reflects various situations, including people becoming beneficiaries, people … Continue reading

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