Job Market Monitor
Michel Cournoyer
US – Higher education didn’t protect hispanic and black wealth study finds
College-educated families usually earn significantly higher incomes and accumulate more wealth than families headed by someone who does not have a four-year college degree. The income- and wealth-boosting effects of education apply within all racial and ethnic groups. Higher education may also help “protect” wealth, buffering families against major economic and financial shocks and mitigating … Continue reading
Unemployed Youth in UK – To attend ‘boot camps’ in ‘no excuses’ crackdown
Jobless young people will be made to attend “boot camps” in return for benefits as part of a new Conservative drive to bring a “no excuses” culture to youth employment. Under the plan, anyone under 21 who is out of work and on benefits will have to take part in a three-week intensive course to … Continue reading
Amazon’s Work Culture and The NYT – More than 4,000 comments posted
Amazon recently surpassed Walmart as the most valuable retailer in the country. It is ceaselessly inventive, unafraid to try something and fail. Its ambitious goal: sell everything to everyone everywhere. It is also figuring out how to extract the most from its employees, whose dedication and obsession is the real engine behind the company’s success. … Continue reading
Job Search for Millennials – A few best practice
Despite the unprecedented challenges facing our generation — unique challenges that no other generation has been confronted with — there are actions you can take to increase your chances of landing a job that will help advance your career and put a decent paycheck in your pocket. Here are a few best practices: 1. Cold … Continue reading
UK – Employment and unemployment of disabled people are both up
The number of disabled people who are unemployed has risen for the second quarter in a row, according to new government figures. The Department for Work and Pensions (DWP) used the publication of quarterly labour market statistics to point to the growth of 225,000 in the number of disabled people in work, compared with the … Continue reading
Addressing Youth Unemployment in Africa
At a flat rate of 11.9 per cent in 2012 and 2013 as reported by the International Labour Organisation, compared to the current global average of 13.1 per cent, Africa does not have high levels of youth unemployment. However due to the size of the continent, and different degrees of urbanisation and shifts in economic … Continue reading
US – The rightward shift in the Beveridge curve
One feature of how the labor market looks different from before the Great Recession is captured in the Beveridge curve relationship, as shown here (vacancy rate vs. unemployment rate): We’re interested in the Beveridge curve, in part because the relationship falls out of conventional Mortensen-Pissarides search models of the labor market. In that model, we … Continue reading
UK – More than six out of 10 employers are opposed to paid volunteering leave
More than six out of 10 (61%) employers are opposed to the Conservative pledge of paid volunteering leave, according to research from Jelf Employee Benefits. The policy, pledged in the Conservative party’s election manifesto, would oblige all public sector employers, and private companies with more than 250 employees, to give workers up to three days … Continue reading
Employee Referrals – Can boost the chance of a positive match by anywhere from 2.6 to 6.6%
Referrals can boost the chance of a positive match by anywhere from 2.6 to 6.6%, higher than any other interview source. “That’s statistically significant and after we control for everything else,” said Andrew Chamberlain, chief economist at Glassdoor. He added that age, sex, education level, industry, and job title of the candidate were all controlled for so … Continue reading
Restaurants in US – The shortage of able kitchen hands
Good cooks are getting harder to come by. Not the head kitchen honchos, depicted in Food Network reality shows, who fine-tune menus and orchestrate the dinner rush, but the men and women who are fresh out of culinary school and eager. The shortage of able kitchen hands is affecting chefs in Chicago, where restaurateurs said … Continue reading
Labor Force Participation in U.S. and Abroad – Charts
Despite the similar trends in youth, prime-age and pre-retirement participation rates, the U.S. is the only country in our sample experiencing a recent decline in the aggregate labor force participation rate. This is explained mostly by a larger-than-average drop in the labor force participation of prime-age males, a decrease in the participation of prime-age women … Continue reading
The Dutch ‘Basic Income’ Experiment
Free cash is in the works for a growing number of Dutch urbanites. After the city of Utrecht announced that it would give no-strings-attached money to some of its residents, other Dutch cities are getting on board for social experiments with “basic income,” a regular and unconditional stipend to cover living costs. Tilburg, a city … Continue reading
Skills Gap in IT in UK – 134,000 new digital specialists needed every year
Its research found that the UK needs 134,000 new digital specialists every year with about half of these being in junior level roles. However, two out of five recruiters said they struggle to fill these roles and 85 per cent of employers say the problem is down to skills shortages. This mismatch between supply and … Continue reading
UK – 63,000 fewer people in work than for January to March 2015
There were 31.03 million people in work, 63,000 fewer than for January to March 2015 but 354,000 more than for a year earlier. There were 22.76 million people working full-time, 352,000 more than for a year earlier. There were 8.27 million people working part-time, little changed compared with a year earlier. The employment rate (the … Continue reading
Merck – Near 7,290 positions eliminated
Pharmaceutical giant Merck & Co. (MRK) has slashed more than 85 percent of the positions targeted for elimination under its 2013 restructuring plan, Gen News reported this morning. Merck has eliminated “approximately 7,290 positions” since the restructuring plan was announced, the company said in its 10-Qc filing. The positions include full-time employees, independent contractors and … Continue reading
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