Job Market Monitor
Michel Cournoyer
European and US Banks – 59,000 jobs cut in 2014
A total of 59,000 jobs in top European and US banks were axed in 2014, bringing the total job cuts to 160,000 across 24 banks in the past two years, authorities said. Chosen excerpts by Job Market Monitor. Read the whole story at Banks in Europe, US Lay Off 59,000 Jobs in 2014 – BusinessNewsAsia.com.
US – Large cities remain more unequal by income than the nation overall
This report updates a 2014 analysis that looked at levels of income inequality in the 50 largest U.S. cities, and examines in particular trends between 2012 and 2013, the most recent data available from the U.S. Census Bureau. Like the earlier analysis, it focuses on incomes among households near the top of the distribution—those earning more … Continue reading
US – Trends in long-term unemployment
The long-term unemployed are people who have been looking for work for 27 weeks or longer. After expanding for 3 consecutive years, the number of long-term unemployed reached a record high of 6.7 million—or 45.1 percent of the unemployed—in the second quarter of 2010. Since then, the number has gradually declined to 2.8 million (or … Continue reading
Employment Insurance in Canada , January 2015 – Virtually unchanged from the previous month
The number of people receiving regular Employment Insurance (EI) benefits totalled 496,600 in January, virtually unchanged from the previous month. Compared with January 2014, the number of beneficiaries decreased by 14,200 or 2.8%. In January, four provinces had more beneficiaries compared with a month earlier: Newfoundland and Labrador, Alberta, Saskatchewan and Nova Scotia. In contrast, there were fewer beneficiaries in British … Continue reading
The 16 skills students require
Today’s fast-changing world requires students with “twenty-first-century skills.” All too often, however, students in many countries are not acquiring these skills. Innovative education technologies such as adaptive learning platforms and interactive games are beginning to show potential for helping address skills gaps. Delivering on the potential of technology will ultimately require effective collaborations among many … Continue reading
US – The number of jobs within the typical commute distance for residents in a major metro area fell by 7 percent
Proximity to employment can influence a range of economic and social outcomes, from local fiscal health to the employment prospects of residents, particularly low-income and minority workers. An analysis of private-sector employment and demographic data at the census tract level reveals that: Between 2000 and 2012, the number of jobs within the typical commute distance … Continue reading
Temporary Workers in Switzerland – Better qualified and earning more
Temporary workers in Switzerland are now significantly better qualified and paid compared with four years, according to Swiss Staffing, the Swiss Federation of Staffing Companies. The survey, conducted by private research institution gfs-Zurich on behalf of Swiss Staffing, interviewed 1,000 people who had worked in a temporary capacity over the past year. The study was … Continue reading
The economic benefits of immigration
The economic benefits of immigration may be the most settled fact in economics. A recent University of Chicago poll of leading economists could not find a single one who rejected the proposition. (There is one notable economist who wasn’t polled: George Borjas of Harvard, who believes that his fellow economists underestimate the cost of immigration … Continue reading
Raising Wages in US – Policies that work
As this paper explains, wage stagnation is not inevitable. It is the direct result of public policy choices on behalf of those with the most power and wealth that have suppressed wage growth for the vast majority in recent decades. Thus, because wage stagnation was caused by policy, it can be alleviated by policy. In … Continue reading
Middle Class in US – A map of the shrinking
The struggles of middle-class American families and growing income inequality have risen to the top of the national agenda. A new Stateline analysis shows that in all 50 states, the percentage of “middle-class” households—those making between 67 percent and 200 percent of the state’s median income—shrunk between 2000 and 2013. The change occurred even as … Continue reading
Canada – Substantial gap in salary compensation in favour of government or public sector employees CFIB finds
The broad public sector is a major employer in Canada. As a group, it employs 3.6 million Canadians—more than one job in five. Because the large share of these jobs are supported in whole or in part by tax revenues, it is certainly appropriate to question how representative and appropriate public sector salaries are in … Continue reading
Youth Unemployment in Australia – The impacts of the Global Financial Crisis on
Australia was one of the few OECD countries to emerge from the Global Financial Crisis (GFC) without facing a recession, usually defined as negative GDP growth for two consecutive quarters. However, the (overall) unemployment rate did increase following the GFC and has still not returned to the pre-GFC levels. Unemployment rates for youths went up … Continue reading
Minimum wages in the EU
Epthinktank Written by Verena Kern Several EU Member States have recently implemented adaptions to their wage policies. The most debated change was the introduction of a national minimum wage of 8.50 € per hour in Germany from 1 January 2015. Minimum wages are common globally with different systems in place. About 100 countries worldwide, including … Continue reading
Aging of Japan – The labor-market gap
Japan is the world’s oldest country—25 percent of its people are aged 65 or over. By 2040, that ratio is estimated to rise to the historically unprecedented level of 36 percent. The population of Japan nearly tripled in the 20th century, peaking at 128 million in 2010. But with a falling birth rate, one of … Continue reading
Immigration in Canada – Express Entry: two months into the launch
We are two months into the launch of Citizenship and Immigration Canada’s (“CIC”) Express Entry system for managing certain applications for permanent residence. The new system has come under serious fire and there is pressure on the government from the Canadian Bar Association and affected stakeholders to change the way the system works and impacts … Continue reading
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