Job Market Monitor
Michel Cournoyer
Employment Rate in Canada and the United States since the Last Recession – Both flat
The employment rate corresponds to the percentage of the working-age population that is employed. It allows the interpretation of employment growth in relation to population growth. Employment growth that is greater than population growth can be indicative of an improvement in the state of the labour market. The employment rate increases (decreases) when employment growth … Continue reading
(Update) Canada’s False Job Report – Caused by non-responses treatment
Here is StatCan official report: Review of the July 2014 Labour Force Survey release What happened? To implement the changes to the processing system, the team believed that they only needed to modify the derivation and weighting modules. What they did not realize was that the imputation module had a reference to the TABS file … Continue reading
Wages in US – Post Great-Recession wage declines were especially pronounced for maids and housekeeping cleaners, home health aides, personal care aides, food preparation workers and restaurant cooks
[The National Employment Law Project has] calculated the percentage change in real median hourly wages from 2009 to 2013 for 785 occupations, which were grouped into quintiles, each representing approximately one-fifth of total employment in 2013. The labels in Figure 1 show the 2013 median hourly wage for the lowest- and highest-paid occupations within each … Continue reading
Europe – Facing a fresh downturn
Six years after being struck by economic crisis, Europe is facing a fresh downturn, with few new ideas on the table for reigniting growth and deepening political divisions over the austerity policies that many blame for worsening the malaise… “Europe is at risk of secular stagnation,” said Lawrence H. Summers, a former United States Treasury … Continue reading
Youth in US – Worse than in 1980s for job and pay
Young people of all races and ethnicities were not employed in 2013 at the rate they were a generation ago, according to data reported today by the National Center for Education Statistics, a division of the Education Department. Americans aged 20 to 24 who did have jobs were paid $4,800 less in 2012 than they … Continue reading
US – Unemployment is falling but still historically high
Six years after the financial panic that nearly sank the U.S. economy, it’s the millions of Americans who aren’t working, or working less than they want to, who pose a challenge to policymakers and a are major contributor to Americans’ persistently sour feeling about the economy. Although the official unemployment rate was down to 6.2% … Continue reading
Labor Day in US – How the working man and woman are treated
According to U.S. government data, in the past 12 months the working people of America have received about the smallest share of national economic output since at least World War II. When you adjust for inflation, real median household income is down about 10% since the start of the millennium and is now lower than … Continue reading
Retired in US – Over half went back into the workforce or started their own businesses poll finds
When planning for retirement, or how to live in retirement, it’s often helpful to consider what others have done or are doing. In February, an informal poll of roughly 400 RetiredBrains visitors revealed varied directions. It would seem that a life of leisure should lead the list; however this was in fact one of the … Continue reading
Brazil After The World Cup – In recession
Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading
Atlantic City – 6,000 layoffs of casino workers to come next week
One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading
China’s Middle-Income Trap – Productivity goes negative
Chinese productivity growth has gone into reverse for the first time since the Cultural Revolution tore the country apart in the 1970s, according to a new study…That means that despite dramatic rises in the cost of labor, energy, credit and property, the average Chinese company has actually been getting less bang for its buck since … Continue reading
US – The “40-Hour” workweek is in fact 47 finds Gallup
Adults employed full time in the U.S. report working an average of 47 hours per week, almost a full workday longer than what a standard five-day, 9-to-5 schedule entails. In fact, half of all full-time workers indicate they typically work more than 40 hours, and nearly four in 10 say they work at least 50 … Continue reading
CIO – 71 percent place more weight on skills and experience than on higher education
By a surprisingly large percentage, CIOs put more emphasis on skills and experience than on tech degrees from prestigious universities. A Robert Half Technology survey of some 2,400 chief information officers at companies with more than 100 employees found 71 percent place “more weight on skills and experience than on whether or not a candidate … Continue reading
Jobless Claims in US (week ended Aug. 23) – Dropped again
The number of new applications for jobless benefits dropped again last week and remained near postrecession lows, the latest sign of improvement for the labor market. Initial claims for unemployment benefits fell by 1,000 to a seasonally adjusted 298,000 in the week ended Aug. 23, the Labor Department said Thursday. That was just below forecasts … Continue reading
Canada’s False Job Report – Caused by non-responses treatment
Statistics Canada’s investigation into the initial miscalculation of July’s jobs numbers found the issue was related to a major redesign of Canada’s Labour Force Survey, as well as employees’ “incomplete understanding” of processing systems… Statscan’s review of the issue reveals that the survey, which undergoes updates after every census, is in the midst of a … Continue reading
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