Job Market Monitor
Michel Cournoyer
US Official Unemployment Rate – The rise in nonresponse
A new academic paper suggests that the unemployment rate appears to have become less accurate over the last two decades, in part because of this rise in nonresponse. In particular, there seems to have been an increase in the number of people who once would have qualified as officially unemployed and today are considered out … Continue reading
Germany – Unemployment rate stood at 6.7 percent in August
The unemployment rate stood at 6.7 percent in August after adjustment for seasonal blips, the same rate as in July. But the number of people registered as unemployed edged up by 2,000 to 2.901 million, the Federal Labour Office said in a statement. This was unexpectedly bad. Analysts had been pencilling in a decline this month of about … Continue reading
France – Registered unemployment hits new record
Unemployment in France grew by 0.8 percent in July from a month earlier and saw a year-on-year growth of 4.3 percent, a fresh blow to the Socialists who promised to bring down the rampant number of unemployed people, official figures showed on Wednesday. According to the Labor Ministry’s monthly data, a total of 3.424 million … Continue reading
US Map – 20 cities with less than 4% unemployment
Twenty metropolitan areas with unemployment rates below 4 percent Chosen excerpts by Job Market Monitor. Read the whole story at Map: 20 US cities with less than 4% unemployment – Vox.
Hiring Gender Gap for Business Grads in US – 5 percentage-point in job offer finds BW
Women graduating from college with business degrees are less likely to get early job offers than their male counterparts, according to new data from Bloomberg Businessweek. The data show that 52 percent of female business majors who graduated this year had been offered a job by January, compared with 57 percent of male students. The … Continue reading
Employment Insurance in Canada – Hamilton hit hardest by new rules
Of all the unemployed in Hamilton, just 21.6 per cent of them are receiving employment insurance (EI) benefits, according to a new report that shows Hamilton has been the hardest hit city when it comes to tighter rules to access EI benefits. The numbers, published by Press Progress, an arm of the progressive think-tank, Broadbent … Continue reading
Monetary Policy in US – The Pent-Up Wage Deflation hypothesis
Yellen, speaking at the Fed’s annual symposium in Jackson Hole, Wyoming, last week, again cited low wage growth as evidence that the labor market is weaker than the 6.2 percent unemployment rate suggests and that interest rates should therefore stay low. And then she proceeded to cite reasons to be wary of that proposition. Among … Continue reading
Work-at-Home – Six Benefits
Here are six benefits. No lengthy commute. According to US Census data, the average work commute time is 25.4 minutes. That might not sound so bad, but that’s close to an hour to get to and from the office, and many workers in large cities have an even longer commute. In fact, 600,000 US workers … Continue reading
Flexible Working in UK – After the June 30th new legislation
On 30 June, new legislation was enacted that allows all employees the right to request flexible working. This means a company has to ‘reasonably’ consider flexible working requests, whereas previously only employees with caring responsibilities were legally covered. While the laws have been cautiously welcomed by most corners of business, and certainly by this publication, … Continue reading
Job Dissatisfaction – Signs your job isn’t for you
Here are a few ways to recognize the difference between a poor fit (and it might be time to start looking) and just a tough time. 1. Your goals are not aligned with the company. 2. You are discouraged from being you. 3. The culture makes you uncomfortable. 4. You don’t see a career path … Continue reading
Canada – Skills shortages have developed in certain fields and regions in recent years OECD finds
Skills shortages have developed in certain fields and regions in recent years. Earnings premiums for people in some professions, notably health, engineering and skilled trades have increased. And vacancy rates have risen for skilled trades, with the increase being particularly large in Alberta and Saskatchewan. While reforms have been implemented to strengthen adjustment so as … Continue reading
US – The leisure and hospitality industry accounted for almost 1 out of every 5 nonfarm jobs added during the recovery
The most recent employment downturn was historic in many ways, but most notably, in the substantial number of jobs lost. Data from the Bureau of Labor Statistics Current Employment Statistics (CES) survey show that total nonfarm employment fell by 8.7 million jobs between the employment peak in January 2008 and the employment trough in February … Continue reading
US – The education gap is a main reason for the growing income divide says Standard & Poor
Technological achievement has saved us time and reconfigured our daily routines, allowing us to focus on our own skills and boosting productivity and growth. These advances are naturally disruptive in the beginning as workers adjust; that disruption becomes alarming when people don’t have the means to adapt, making a lasting impact on career development. Although … Continue reading
US – 41 percent of American workers do not plan to use all their paid time off in 2014
Americans are overwhelmed—but they aren’t taking the breaks they’ve earned. Nearly three-quarters of workers say they are stressed at work, with one-in-four reporting they are either “very” or “extremely” stressed. It’s no surprise that Americans feel this way. Many workers leave their paid time off (PTO) unused, despite near-universal recognition of the importance and benefits … Continue reading
Canada – Business entry rate declined from 24.5% to 13.1% from 1983/1984 to 2011/2012 finds StatCan
Firm entry and exit are an important source of dynamism that is essential to a well functioning economy. The entry of new firms is an important source of productivity growth and technology adoption while exit removes less productive firms. Based on a new set of linked, experimental data for the period 1983/1984 to 2011/2012, Canada’s … Continue reading
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