Job Market Monitor
Michel Cournoyer
Job Report in US, July 2019 – Employment rose by 164,000 and unemployment unchanged at 3.7
Total nonfarm payroll employment rose by 164,000 in July, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and technical services, health care, social assistance, and financial activities. Household Survey Data The unemployment rate held at 3.7 percent in July, and … Continue reading
Monetary Policy – We have reached the limit of what it can be expected to do
Though the U.S. economy is apparently at or close to full employment, wages have barely budged above the level that would be justified by productivity increases and inflation alone. There is little or no inflationary pressure. The so-called Phillips curve that once mapped the inverse relationship between unemployment and inflation is not serving as a … Continue reading
Immigration in US – 87 percent of overall population growth by 2049 CBO says
With birth rates projected to remain low, net immigration flows become an increasingly important part of overall U.S. population growth; in 2019, projected net in flows account for approximately 45 percent of overall population growth, but by 2049 that share is nearly 87 percent. CBO projects three broad categories of immigration: legal permanent residents (LPRs), … Continue reading
Skills in Wales – A focus on young people will not be enough, 81.5 per cent of the workforce of 2030 have already left compulsory education
Wales is at the centre of a number of significant disruptions likely to bring long-term changes for its people and economy. Some of these are global in nature, such as automation and technological change. Some affect the whole UK – most obviously, the uncertainty around Brexit. Others come from within Wales, such as the rapid … Continue reading
Job Report in Europe, June 2019 – Euro area unemployment at 7.5%, EU28 at 6.3% with 3.176 million young unemployed
The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in June 2019, down from 7.6% in May 2019 and from 8.2% in June 2018. This is the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in June 2019, stable compared with May 2019 and down from 6.8% … Continue reading
Upskilling in Asia Pacific – By prioritising external talent over upskilling, many are missing out on potential benefits
Learning and development is seen as vital, but its quality must improve Learning and development (L&D) is an essential part of any job, with 70% of surveyed employees based in APAC seeing opportunities for L&D as important when considering a new job role. L&D can offer an array of benefits to employees and teams – … Continue reading
Rethinking Career and Technical Education – Six core qualities
As the economy rapidly shifts toward automation, there is growing consensus that while new jobs will be created, change is the new normal. Youth need training in soft skills alongside preparation for lifetime learning. Systemic change, not minor improvements, will be necessary. States, districts, and schools are adjusting to the aspirations of “new CTE”—as many … Continue reading
Career and Technical Education and Local Labor Markets in US – How aligned ?
The recent reauthorization of the Carl D. Perkins Career and Technical Education Act—the principal federal education program supporting career and technical education (CTE)—expressly aims to “align workforce skills with labor market needs.” How Aligned is Career and Technical Education to Local Labor Markets?, co-authored by Pepperdine University associate professor Cameron Sublett and Fordham Institute senior research … Continue reading
Pre-Apprenticeship in US – To prepare individuals to enter and succeed
Pre-apprenticeship programs are designed to prepare individuals to enter and succeed in a Registered Apprenticeship or other high-quality apprenticeship program, and ultimately a career. They can be delivered by a range of entities including community-based organizations, high schools, labor organizations, workforce agencies, or community colleges. For educational institutions, the programs can and should integrate directly … Continue reading
Millennials in Australia – Busting the myths
Millennials are often held up as the face of the new world or derided as symbolic of our current world’s problems. They are praised for being more socially minded, willing to challenge the status quo and able to use rapidly evolving technology to solve the issues that face them but, at the same time, they … Continue reading
US Manufacturing – The changing geography of from 1940 to 2016
Between 1940 and 2016, employment in manufacturing shifted across America from the Northeast to the Midwest and the Southeast. The industry lost ground in many places and is now the largest employer in only two states—Indiana and Wisconsin. In 1940, 23% of workers were employed in the manufacturing industry, and they were concentrated in 15 … Continue reading
Apprenticeship Levy and Employer Underinvestment in Training in UK – Verdict : Not yet
The UK has suffered a long-term and substantial decline in employer investment in training over past decades. Figures show declining employee participation in workplace training, and that a substantial portion of the training done is only induction or compliance-based. As part of an attempt to reverse the trend, the government introduced the Apprenticeship Levy in … Continue reading
Nissan – To cut 12,500 jobs
Nissan will reduce at least 12,500 positions globally by March 2023 – its deepest job cuts since 2009 – and slash production capacity, mainly of compact cars at underutilised plants abroad. The move will shrink its product line-up by about 10%, Saikawa said, Nissan CEO Hiroto Saikawa attends a news conference to release first quarter … Continue reading
Aging Workforce in Canada – The ratio of younger workers to older workers declined from 2.7 in 1996 to 1.0 in 2018
Over the past two decades, the share of the employed population aged 55 and over increased significantly. This study uses Census of Population and Labour Force Survey data to examine the changing age composition of workers within the most prevalent occupations (with at least 10,000 workers), as well as the occupations that are increasing and … Continue reading
Credential Chaos – The solution is a common language and a searchable registry
The credentialing marketplace is characterized by a serious lack of transparency, trustworthiness, and comparability. This is not surprising in a sector as complex and decentralized as that of education, training, and skill assessment. But in a knowledge-based economy, the result is misguided investments, regretted hiring decisions, and serious skills gaps, which in turn weaken workforce … Continue reading
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