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US – Wealth Gap by race widens
White Americans have 22 times more wealth than blacks — a gap that nearly doubled during the Great Recession. The median household net worth for whites was $110,729 in 2010, versus $4,995 for blacks, according to recently released Census Bureau figures. The difference is similarly notable when it comes to Hispanics, who had a median … Continue reading
Air France – 5,000 jobs to be cut by 2013
French airline Air France has announced it is to cut more than 5,000 jobs by the end of 2013 in an attempt to reduce costs and return to growth. The figure represents just under 10% of the total workforce of 53,000. The job cuts form part of a restructuring plan to restore profitability, in the … Continue reading
US – How far would you travel to find work?
Joe Mako has used Tableau to plot unemployment relative to the national average for every US state between 1976 and 2012. The aptly named horizon chart represents values using both colour and dimensions. In this case orange and red shading indicate an unemployment rate above the national average, while shades of blue show the inverse. … Continue reading
Tea Party : Unemployment Higher Among Native Born than Immigrants
The unemployment rate for immigrant workers in the United States is lower than the unemployment rate for native-born workers, according to data from the Bureau of Labor and Statistics (BLS). BLS’s data show that unemployment among foreign born workers in May 2012 was 7.4 percent, while for native-born workers it was 8.0 percent. The data … Continue reading
UK unemployment benefit claims post unexpected rise
Mixed unemployment data show headline jobless rate fell 51,000 to 2.61m as claimant count rose 8,100 to 1.6m Source: m.guardian.co.uk. Related articles (jobmarketmonitor.com) UK unemployment falls by 51,000 and 166,000 more people in employment – ONS UK: Long-term youth unemployment grows eight-fold since 2000 UK Youth Unemployment | From 6,000 to 50,000 on Jobseekers’ Allowance for more than … Continue reading
Raising the minimum wage would be good for our economy
A higher minimum wage not only boosts workers’ incomes—something that is sorely needed to boost demand and get the economy going—but it also reduces turnover and shifts businesses toward a high-road, high-human-capital model. Still, some policymakers may be nervous about increasing the minimum wage while unemployment is so high. Yet, both the federal and states … Continue reading
UK Long term youth unemployment up 874% in 12yrs says TUC Report
The number of young people who have been unemployed for more than a year since 2000 has increased by an enormous 874 per cent (from 6,260 to 60,955), going up by 264 per cent in the last year alone. In comparison, on average across all working age groups, long-term unemployment has risen by 50 per … Continue reading
US – Gallup: Seasonally adjusted unemployment drops to 7.8% in June
U.S. unemployment, as measured by Gallup without seasonal adjustment, is 8.0% in mid-June, unchanged from the end of May but significantly better than the 8.7% for the month of June 2011. Gallup’s seasonally adjusted number is 7.8%, an improvement from 8.3% at the end of May, and down slightly from the previous seasonally adjusted low … Continue reading
UK unemployment falls by 51,000 and 166,000 more people in employment – ONS
For February to April 2012: • The employment rate for those aged from 16 to 64 was 70.6 per cent, up 0.3 on the quarter. • There were 29.28 million people in employment aged 16 and over, up 166,000 on the quarter. The number of people employed in the private sector increased by 205,000 to … Continue reading
After the Great Recession : Underemployed and Underpaid
Throughout the Great Recession and the not-so-great recovery, the most commonly discussed measure of misery has been unemployment. But many middle-class and working-class people who are fortunate enough to have work are struggling as well, which is why Sherry Woods, a 59-year-old van driver from Atlanta, found herself standing in line at a jobs fair … Continue reading
A Recovery is not another recovery
The point that all recoveries are the same — whether preceded by a financial crisis or not — is argued in a recent Federal Reserve working paper by Greg Howard, Robert Martin and Beth Anne Wilson. It was also discussed in a recent article in the Wall Street Journal. It is mystifying that they can … Continue reading
As Income Inequality Grows, Some Movement at the Top and Bottom
A recent Fed report examines the income of families in 2007 and the same families in 2009, distributed in 20 percent brackets. According to the report, 69.4 percent of those in the lowest income bracket in 2007 were also in the lowest bracket two years later; 19.1 percent rose to the second quintile, 6.7 to … Continue reading
UK: Long-term youth unemployment grows eight-fold since 2000
The number of young people out of work for at least a year has grown eightfold in the last decade, a grim analysis shows ahead of Wednesday’s official unemployment figures The report by the TUC reveals an “enormous” increase in long-term youth unemployment over the past 12 years, with the number of 18 to 24 … Continue reading
Jetset cuts 110 as profits fall
Most of the pain from the latest restructure will be felt by those working at its travel management division, which will lose about 66 of the 110 jobs to be cut. The Age Link: http://www.theage.com.au/business/jetset-cuts-110-as-profits-fall-20120618-20k7r.html
The Economic Recovery is Floundering
In the lead-up to the G20 summit in Los Cabos, the Brookings-FT Tiger index shows that this stop-and-go global recovery has stalled once again. The engines of world growth are running out of steam while the trailing wagons are going off the rails. Emerging market economies are facing sharp slowdowns in growth while many advanced … Continue reading
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