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Long-Term Unemployment is not a short term problem
“While I do not see much evidence of any significant increase in structural unemployment so far, I am concerned that structural unemployment could increase over time if the labor market heals too slowly–a phenomenon known as hysteresis” said Bernanke at the Money Marketeers of New York University, New York, New York, on April 11, 2012.
US | Nonfarm payroll employment up by 115,000 and the unemployment rate at 8.1%
Nonfarm payroll employment rose by 115,000 in April, and the unemployment rate was little changed at 8.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, retail trade, and health care, but declined in transportation and warehousing… Source: via Employment Situation Summary. Why Did the Unemployment Rate Drop? The … Continue reading
Rochester | Kodak announces 140 more job cuts
As bankrupt Eastman Kodak Co. looks to eliminate costs, one expense being cut particularly severely is workers. In the 15 weeks since Kodak filed for Chapter 11 bankruptcy protection on Jan. 19, the printing and imaging company has notified the state Labor Department six separate times of layoffs to its Rochester-area workforce. The most recent … Continue reading
The Euro Area Double Dip Recession
The latest reading of composite PMI for the 17-country region fell to 46.7 this month, even worse than an earlier flash reading of 47.4. Source: Read More @ The Euro Area Economy Is Deteriorating At A Disastrous Pace – Business Insider.
What is the best way to measure youth unemployment ?
Youth unemployment eases, but youth unemployment crisis continues The UK’s youth unemployment crisis is ongoing. So how different does the youth unemployment picture look when the alternative measure of youth unemployment is used? The latest unemployment data release marks the first anniversary of ONS publishing its alternative measure of youth unemployment, which excludes people in … Continue reading
Florida | Loss of unemployment benefits coming
Think of it as an improving economy’s collateral damage. Some 44,000 people throughout Florida are scheduled to have their extended federal unemployment benefits cut off May 12, regardless of how long the payments were slated to continue. In Sarasota and Manatee counties, some 600 jobless workers are expected to be affected, state officials said, though … Continue reading
UK | High unemployment to do ‘permanent damage’
The UK unemployment rate will rise from its current 8.3% to almost 9% by the end of this year, doing “permanent damage to the UK’s productive capacity”, a think tank has said. The National Institute of Economic and Social Research (NIESR) said that the persistent weakness in the economy was “unprecedented”. It says growth in … Continue reading
The 86 million uncounted unemployed – May. 3, 2012
There are far more jobless people in the United States than you might think. While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth. As a result, the labor … Continue reading
New definition of Unemployment Rate | Supernatural Rate = Actual Rate – Natural rate
The Natural Rate Hypothesis has been around us for … since Freidman presidential adress (1968?). Economists know that the definition lies on shaky grounds.
India | Accor to hire over 1,100 employees
Hospitality firm Accor today said it will hire 1,100 people in India this year to meet the needs of its growing network. The company plans to operate 90 hotels in India by 2015. It already has 3,600 employees here, the company said in a statement. “We expect to create significant job opportunities across all segments … Continue reading
Crossroads: The Psychology of Immigration in the 21st Century
The United States today has approximately 39.9 million immigrants—the largest number in its history. As a nation of immigrants, the United States has successfully negotiated larger proportions of newcomers in its past and is far from alone among postindustrial countries in experiencing a growth in immigration in recent decades. Notably, nearly three quarters of the … Continue reading
The number of Disabled Americans Workers receiving SSDI jumped 22%
The number of workers receiving SSDI jumped 22 percent to 8.7 million in April from 7.1 million in December 2007, Social Security data show. That helps explain as much as one quarter of the decline in the U.S. labor-force participation rate during the period, according to economists at JPMorgan Chase & Co. and Morgan Stanley. … Continue reading
Brain Drain | India top exporter of skilled immigrants to Australia
India has climbed to the top of the charts as the top source country for skilled permanent migrants to Australia. Chris Bowen, the Australian immigration minister who is visiting India, told TOI, “The strongest link between Australia and India is peopleto-people through immigration . India has for several years been our third largest source of … Continue reading
Job Search | Ageism exists
Ageism does exist, as many types of discriminations do when hiring. What you need to do, however, is strategically plan how you are going to present yourself in an interview. Right now there is a declining work force. Thousands and thousands of people are retiring, taking with them years of institutional knowledge. This knowledge is … Continue reading
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