In the News

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Atlantic City – A loss of 5,700 jobs in a couple of weeks

The Atlantic City region is on the brink of a short-term economic disaster.  Atlantic City made history 36 years ago when it opened the first legal casinos in the United States outside Las Vegas. Now it’s doing so again as casino employment – which for years exceeded the number of city residents – drops precipitously … Continue reading

US Labor Secretary on Long-Term Unemployed – It keeps me up at night because their stories are so compelling

Perez said the plight of the long-term unemployed – or those without work for at least 27 weeks — is the one issue that has caused him to lose sleep. He has met with many such workers since becoming Labor Secretary about a year ago. “It keeps me up at night because their stories are … Continue reading

US – It takes people much longer to get back to work today than it did six or seven years ago

More than 3 million U.S. workers remain among the long-term unemployed – those who have been jobless for 27 or more weeks. Their numbers have been falling as the economy picks up, but experts say getting back to work has been tougher in the wake of the most recent recession than it was following the economic … Continue reading

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

Here is StatCan official report: Review of the July 2014 Labour Force Survey release What happened? To implement the changes to the processing system, the team believed that they only needed to modify the derivation and weighting modules. What they did not realize was that the imputation module had a reference to the TABS file … Continue reading

Europe – Facing a fresh downturn

Six years after being struck by economic crisis, Europe is facing a fresh downturn, with few new ideas on the table for reigniting growth and deepening political divisions over the austerity policies that many blame for worsening the malaise… “Europe is at risk of secular stagnation,” said Lawrence H. Summers, a former United States Treasury … Continue reading

Labor Day in US – How the working man and woman are treated

According to U.S. government data, in the past 12 months the working people of America have received about the smallest share of national economic output since at least World War II. When you adjust for inflation, real median household income is down about 10% since the start of the millennium and is now lower than … Continue reading

Retired in US – Over half  went back into the workforce or started their own businesses poll finds

When planning for retirement, or how to live in retirement, it’s often helpful to consider what others have done or are doing. In February, an informal poll of roughly 400 RetiredBrains visitors revealed varied directions. It would seem that a life of leisure should lead the list; however this was in fact one of the … Continue reading

Brazil After The World Cup – In recession

Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading

Atlantic City – 6,000 layoffs of casino workers to come next week

One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading

China’s Middle-Income Trap – Productivity goes negative

Chinese productivity growth has gone into reverse for the first time since the Cultural Revolution tore the country apart in the 1970s, according to a new study…That means that despite dramatic rises in the cost of labor, energy, credit and property, the average Chinese company has actually been getting less bang for its buck since … Continue reading

US – The “40-Hour” workweek is in fact 47 finds Gallup

Adults employed full time in the U.S. report working an average of 47 hours per week, almost a full workday longer than what a standard five-day, 9-to-5 schedule entails. In fact, half of all full-time workers indicate they typically work more than 40 hours, and nearly four in 10 say they work at least 50 … Continue reading

CIO – 71 percent place more weight on skills and experience than on higher education

By a surprisingly large percentage, CIOs put more emphasis on skills and experience than on tech degrees from prestigious universities. A Robert Half Technology survey of some 2,400 chief information officers at companies with more than 100 employees found 71 percent place “more weight on skills and experience than on whether or not a candidate … Continue reading

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

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