Job Market Monitor
Michel Cournoyer
Freelancers in US – 53 million or 34% of the population
According to a survey released this week by the Freelancers Union together with freelance platform Elance-oDesk, 53 million Americans, or 34% of the population, qualify as freelancers. Not all of them make their living exclusively as freelancers. The number includes 14.3 million workers who would be called “moonlighters”—people who have a primary, traditional job that … 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 – Employers are not hiring , they squeeze
As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading
Demographics in US – Prime working-age population growing again
Changes in demographics are an important determinant of economic growth, and although most people focus on the aging of the “baby boomer” generation, the movement of younger cohorts into the prime working age is another key story in coming years. Here is a graph of the prime working age population (this is population, not the … Continue reading
Canada Job Report for August – Be very careful with the jobs numbers
Derek Holt, VP at Scotiank Economics, urged clients on Friday to approach Statistics Canada’s latest reading on the country’s labour market with caution, calling some details in the report “very fishy.” According to the agency, the Canadian economy unexpectedly lost 11,000 jobs in August from July, and the number of private-sector employees fell sharply. The … Continue reading
Beveridge Curve “Shift” in US – There is no shift to begin with says Federal Reserve Bank of Cleveland
Observers have followed the Beveridge curve during the recession and the recovery to glean some insight into potential structural changes in the labor market. Whether or not a shift implies an actual structural change—specifically, a decline in the matching efficiency of the labor market—is still debatable. However, one thing is clear: there is no shift … Continue reading
A Degree in US – Was worth $272,693, on average, in 2013 study finds
A study released on Tuesday by two researchers with the Federal Reserve Bank of New York concludes the opposite is true: The value of a bachelor’s degree is near an all-time high. The researchers, Jaison R. Abel and Richard Deitz, found that despite some “alarming trends,” a bachelor’s degree for a 2013 graduate was worth $272,693, … Continue reading
World Migration – 7 facts about it
The United Kingdom is home to the most diverse immigrant community in the world. The French like to live all over the world. The Mexico-to-U.S. link is the most popular bilateral migration path in the world. The number of Indian-born people living outside of India and the number of Chinese-born people living outside China both … Continue reading
Unemployment in Spain – August sees the first rise in unemployment after six months of improvement
A total of 8,070 people joined Spain’s jobless queues in August, the first rise in unemployment after six months of improvement, official figures released on Tuesday show. The rise means there were 4,427,930 Spaniards registered as looking for work at the country’s unemployment offices at the end of August, Spain’s employment ministry figures show. Chosen … Continue reading
Poverty – Most explanations (left, right and center) are not mutually exclusive but mutually reinforcing
Let’s imagine for a moment that there are no political pressures distorting our discussion of poverty and that we can look at it as a technical problem, not a moral one. Maybe we would find that most explanations – left, right and center – are not mutually exclusive but mutually reinforcing. Before we take this … Continue reading
Unemployment in OECD – 12.1 Million more than before the crisis and wages stagnate (video)
Unemployment will remain well above its pre-crisis levels next year in most OECD countries, despite modest declines over the rest of 2014 and in 2015, according to a new OECD report. The Employment Outlook 2014 says that average jobless rates will decrease slightly over the next 18 months in the OECD area, from 7.4% in mid-2014 … Continue reading
UK – Take account of unemployment before raising interest rates says TUC to Bank of England
TUC boss Frances O’Grady has urged the government to widen the Bank of England’s remit to take account of unemployment before Threadneedle Street considers raising interest rates. Speaking before the start of the TUC’s annual congress, when the Bank governor, Mark Carney, will make a speech, O’Grady said the success of the Bank’s interest rate … Continue reading
US by State – The unemployment rate before and after the great recession
Even before the recession, there was a huge range in unemployment rates among states. Most of the dozen states that have seen their unemployment rates fall since before the recession have benefited from the recent boom in the oil and gas business. Many of the states where the unemployment rate is much higher than it … Continue reading
Interns in Canada – Mostly female, underpaid or unpaid
Preliminary findings from an upcoming study on internships in Canada show that the majority of interns are young women who make less than the provincial minimum wage — if they’re paid at all. The study, to be released soon by two researchers at the University of Victoria and the Canadian Intern Association, is aimed at … Continue reading
US Job Report for August 2014 – A disappointing employment increase of 142,000
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, both the unemployment rate (6.1 percent) and the number of unemployed … Continue reading
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