Michel Cournoyer

Wealth in US – Gains occurred only among households wealthier than the most wealthy 5%

Earlier this month the Federal Reserve reported that the minimum wealth needed to qualify for the wealthiest 5% of American households fell from 2010 to 2013.  The decline in the cutoff indicates that wealth gains occurred only among households wealthier than the most wealthy 5%. The growth in the nation’s wealth from $55 trillion in … Continue reading →

World Population – 11 billion people by 2100

There are currently 7.2 billion people on the planet. We may need to make room for 11 billion. A new study in Science argues that the world’s population is likely to grow to nearly 11 billion by 2100 if current trends hold. What’s more, the global population now seems unlikely to stabilize this century. This in … Continue reading →

Wage Theft by Employers in US – At least $933 million in 2012 vs robberies ( including bank ) $341 million

Wage theft—employers’ failure to pay workers money they are legally entitled to—affects far more people than more well-known and feared forms of theft such as bank robberies, convenience store robberies, street and highway robberies, and gas station robberies. Employers steal billions of dollars from their employees each year by working them off the clock, by failing … Continue reading →

 Employment Insurance in Canada, July 2014 – Nine provinces saw decreases in the number of beneficiaries

The number of people receiving regular Employment Insurance (EI) benefits in July totalled 499,300, little changed from the previous month. Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900. While nine provinces saw decreases in the number of beneficiaries, these declines were offset by an increase in Ontario. Notable declines in July were in British Columbia, … Continue reading →

Minimum Wages for Tipped Workers – Smaller wage gaps for women overall and lower poverty rates when equal

The federal minimum cash wage for tipped workers has been frozen at $2.13 per hour for 23 years, and now represents less than a third of the federal minimum wage ($7.25 per hour)—its lowest share on record.  The inadequate tipped minimum wage is particularly detrimental to women, who represent two-thirds of tipped workers nationally. Increasing … Continue reading →

Phrenologists and other jobs that no longer exist (video)

Microsoft – 2100 jobs cut today

Microsoft has confirmed today that 2100 employees were cut today as part of the previously announced layoffs. Of those cut, 747 were in the state of Washington with the rest occurring in offices around the world. Back in July, Microsoft said that it would cut 18,000 employees, which will cost them between $1.1bn and $1.6bn when … Continue reading →

Canada – Migrant workers will now receive the EI Parental Benefits

More than 100 migrant agriculture workers will now receive the EI Parental Benefits they were wrongfully denied by an Employment Insurance tribunal, in the wake of a successful legal battle supported by UFCW Canada, the Agriculture Workers Alliance, and argued by Niagara North Community Legal Assistance and the Income Security Advocacy Centre (ISAC). “That migrant … Continue reading →

The aftermath of the Great Recession in US – Historically terrible for the middle class

The Census Bureau has been tracking median household income since 1967. America has endured seven recessions since then. The first five of those recessions saw a similar pattern when they ended: By the fifth year of recovery, median incomes had risen. This was true even for the recession that ended in 1980 – when the … Continue reading →

The Skills Gap in US – The ‘not me’ syndrome: the Report

Sixty-one percent of Americans believe that today’s workforce is plagued by a skills gap, but do not see themselves as part of the problem, according to new data released today. The Udemy Skills Gap Index, an independent survey commissioned by Udemy, the leading global marketplace for learning and teaching online, and conducted by ResearchNow, surveyed 1,000 … Continue reading →

Productivity – The perfect length for a break: work for 52 minutes, break for 17

What’s the perfect length for a break? Seventeen minutes, according to an experiment released this week. Rather than set your stop-watch for 17 minutes when you get up from your desk, the more important reminder might be to get up, at all. DeskTime, a productivity app that tracks employees’ computer use, peeked into its data … Continue reading →

US – An increasing number of people have been to prison or who have been convicted of a felony

This surprisingly large group might have difficulty finding work even in a good job market, making it harder for the Fed to stimulate the economy back to full strength. As a result of policies intended to curb violent crime and drug use, more and more people have been arrested, convicted of a felony, or sent to prison in recent decades, especially … Continue reading →

Canada – Aging population expected to go west

Canada’s population will shift dramatically in the next half century, becoming greyer, more diverse and more concentrated in the four Western provinces. A portrait of Canada in the next 50 years shows the country’s population could reach up to 63.5 million people by 2063 compared with 35.2 million last year, Statistics Canada projections show. The … Continue reading →

Monetary Policy in US, September 17, 2014 – There is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions

The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make … Continue reading →

Skilled Trades in Michigan – Students aren’t buying

Nearly everywhere he goes, Michigan Gov. Rick Snyder talks about well-paying, but unfilled, welding,carpentry, machining and other skilled-trades jobs, as well as technical occupations in health care. Snyder has said Michigan and the country “messed up” by telling young people that the only path to a well-paying career is getting a four-year degree at a … Continue reading →