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US – The national jobs gap relative to November 2007 has been closed in July 2017

With [July] employment report, we can report that the national jobs gap relative to November 2007 has closed (see figure 1). This indicates that, by our calculations, nearly a full decade after the start of the recession, employment has returned to its demographically adjusted pre-recession level. This does not mean that all harm to the labor market resulting from the Great Recession has dissipated, nor that the economy is at full employment. It does mean, though, that the economy has added enough jobs to make up for the losses during the Great Recession.

 

Chosen excerpts by Job Market Monitor. Read the whole story at Who is out of the labor force? 

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Global Job Gap – It continues to widen ILO finds

The world economy continues to expand at rates well below the trends that preceded the advent of the global crisis in 2008 and is unable to close the significant employment and social gaps that have emerged. The challenge of bringing unemployment and underemployment back to pre-crisis levels now appears as daunting a task as ever, … Continue reading

The Job Gap in US – 5.6 million jobs as of August 2014 finds The Hamilton Project

Each month, The Hamilton Project calculates America’s “jobs gap,” or the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who newly enter the labor force each month. As of the end of August 2014, our nation faces a jobs gap of … Continue reading

US – The Job Gap is still near 7.0 million

Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a … Continue reading

The Job Gap in US – Lack of jobs is still a very big problem

In the next few months, the labor market will pass a milestone in its recovery from the Great Recession: Total payroll employment (private plus government) will finally top its pre-recession level . But before breaking out the champagne, let’s remember that the previous peak was more than six years ago in December 2007; with population … Continue reading

Yellen – Job gap means rates stay low

“The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained,” Yellen said today to the Economic Club of New York.  The gap, in both cases, is large, with … Continue reading

The Job Gap in US – How many more jobs are needed ?

One of the big questions concerning the U.S. jobs market is how many jobs need to be created to reach full employment? Without knowing that, it’s hard to determine when the nation’s economy will have finally recovered. Figuring out that number is complicated by several uncertainties, including just how many people need jobs and how … Continue reading

The Job Gap in US / There are about 1.18 million fewer payroll jobs than before the recession started

This doesn’t include population growth and new entrants into the workforce Continue reading

Gender Job Gap in US / Women not part of manufacturing turnaround

Since February 2010, the U.S. manufacturing industry, which appeared to be in a terminal decline for more than 30 years, has added more than 554,000 jobs to the workforce, according to the Joint Economic Committee of the U.S. Congress. However, in that same time frame, men have gained 565,000 jobs in the sector and women lost … Continue reading

US / A small, and shrinking, proportion of jobs pay enough for families to make ends meet finds the 2013 Job Gap Report by the Alliance for a Just Society

The Alliance for a Just Society’s 15th annual Job Gap Study examines employment opportunities and outcomes nationally, in 10 states (Colorado, Connecticut, Idaho, Florida, Maine, Montana, Nevada, Oregon, Virginia and Washington State), and in New York City Continue reading

UK / The 18-24’s Job Gap: 395,000 jobs finds TUC research

People aged 18-24 are far less likely to be in work today than before the recession and 395,000 more jobs are needed before youth unemployment rates return to their 2008 level, according to research by the Trade Union Congress (TUC). The research has been published ahead of the latest employment figures tomorrow, which are expected … Continue reading

US / The Job Gap and the Skills Gap

We’d be serving the present and the future. Here’s one example how: Today states are slashing budgets for community colleges, just when every good job requires more skill. That is truly cutting off our thumbs to lose weight. Last week, I interviewed Gary Green, the president of Forsyth Technical Community College, in Winston-Salem, N.C., with … Continue reading

US / Job Gap / President Elected Jobs Council without official meeting for a year

President Barack Obama’s Jobs Council hit a notable milestone on Thursday: one year without an official meeting. The 26-member panel is also set to expire at the end of the month, unless Obama extends its tenure. The group, formally known as the President’s Council on Jobs and Competitiveness, last convened on Jan. 17, 2012 for … Continue reading

US / Job Gap / Construction Still in The Red

Of the 8.8 million jobs lost in the U.S. economy, a whopping 2.2 million were in construction. Most of those jobs have yet to come back. Some construction firms expect to hire more workers in 2013, but don’t call it a comeback just yet. About 31% of construction companies plan to hire workers this year, … Continue reading

US / Job Gap / A four million shortfall in employment

According to the last jobs report for 2012, the United States labor market continues to recover at a steady but modest pace despite a global slowdown, Hurricane Sandy and anxieties about future fiscal policy. Private payrolls increased by two million in 2012, and the unemployment rate fell by 0.7 percentage point to 7.8 percent. Over … Continue reading

Global Job Gap / At least until 2017 to recoup the lost in the US and Europe says UN

World economic growth has weakened substantially this year and faces the confluence of a triple threat — the fiscal cliff in the United States, a worsening European debt crisis and a sharp slowdown in China, the United Nations said in a year-end report released on Tuesday. The worst case, the report said, could be a … Continue reading

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