Job Market Monitor
Michel Cournoyer
College and Employability in US – How are they doing and what are employers looking for?
How are colleges doing? Nearly seven out of ten employers surveyed indicated that colleges are doing a “good” or “excellent” job when it comes to producing successful employees; however, more work is required to change the minds of the 31% of respondents who gave colleges a “fair” to “poor” rating. HR has the most favorable … Continue reading
UK Monetary Policy – Labour market data “give one a better steer about the evolution of spare capacity than output growth alone says Ben Broadbent
Since the financial crisis “labour productivity has stagnated”, this has inevitably made the MPC “less confident about any forecast of productivity growth over the next few years” and meant that “output data are no longer sufficient statistics for inflationary pressure”. Ben argues that labour market data “give one a better steer about the evolution of … Continue reading
Welfare in US – TANF has provided basic cash assistance to fewer and fewer needy families
Eighteen years ago, the Temporary Assistance for Needy Families (TANF) block grant was created as a part of the 1996 welfare reform law to replace the Aid to Families with Dependent Children (AFDC) program. Welfare reform provided states with a fixed block grant in exchange for greater flexibility in how they could use the funds. … Continue reading
Polarization – The four middle skill occupations: 60 percent of employment in 1979, 46 percent in 2012
Cumulatively, these two trends of rapid employment growth in both high and low-‐‑education jobs have substantially reduced the share of employment accounted for by ‘middle skill’ jobs. In 1979, the four middle skill occupations (sales, office and administrative workers, production workers, and operatives) accounted for 60 percent of employment. In 2007, this number was 49 … Continue reading
US Monetary policy – The labor market has yet to fully recover says Yellen
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the downturn, with payroll employment in … Continue reading
Unemployment in the US – The rate varied across race and ethnicity groups BLS finds
In 2013, the overall unemployment rate for the United States was 7.4 percent; however, the rate varied across race and ethnicity groups. The rates were highest for Blacks (13.1 percent) and for American Indians and Alaska Natives (12.8 percent) and lowest for Asians (5.2 percent) and for Whites (6.5 percent). The jobless rate was 9.1 … Continue reading
US – The job market in one chart
When the Fed commenced rate hiking cycles in 1994, 1999 and 2004, the involuntary part time labor share was materially lower, while the prime age employment ratio was significantly higher. To wit: the prime age employment ratio stood at 78.9%, 81.4% and 79.1% as each of the last three tightening cycles got underway. In July the … Continue reading
UK – A massive fall in self-employed earnings
Where there is no argument, though, is on the massive fall in self-employed earnings. The ONS estimates a 22 percent drop in pay since 2008. This is consistent with the Resolution Foundation’s findings and the HMRC figures I discussed earlier this year. As ONS says, the self-employed may under-state their income in surveys but they have … Continue reading
US – Employers are no longer investing resources in training
Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading
Graying World – There will be 13 ‘super-aged’ nations by 2020
The world is graying at a break-neck pace and that’s bad news for the global economy. By 2020, 13 countries will be “super-aged” — with more than 20% of the population over 65 — according to a report by Moody’s Investor Service. That number will rise to 34 nations by 2030. Only three qualify now: … Continue reading
Cost Competitiveness – The old worldview now appears to be out of date
For the better part of three decades, a rough, bifurcated conception of the world has driven corporate manufacturing investment and sourcing decisions. Latin America, Eastern Europe, and most of Asia have been viewed as low-cost regions. The U.S., Western Europe, and Japan have been viewed as having high costs. But this worldview now appears to … Continue reading
Employment Insurance, June 2014 in Canada – Little changed
Following a decline in May, the number of people receiving regular Employment Insurance (EI) benefits was little changed in June at 501,900. The number of beneficiaries fell notably in Ontario and New Brunswick, while increasing sharply in British Columbia. The change in the number of regular EI beneficiaries reflects various situations, including people becoming beneficiaries, people … Continue reading
US – Families in middle class make less than they did 5 years ago
The purchasing power of the typical American family is 3.1 percent lower now than it was five years ago. No wonder people are unhappy about the economy! The benefits of rising levels of economic activity have simply not accrued to middle-income wage earners. Chosen excerpts by Job Market Monitor. Read the whole story at Why the Middle … Continue reading
Europe – Nobel economists say policy blunders pushing it into depression
An array of Nobel economists have launched a blistering attack on the eurozone’s economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt crisis. “Historians are going to tar and feather Europe’s central bankers,” said Professor Peter Diamond, the world’s leading expert on unemployment. “Young people in Spain … Continue reading
US – Satisfaction with many job aspects returns to high pre-recession levels
In the U.S., 58% of full- or part-time workers are completely satisfied with their job security. This represents an increase from the levels recorded during the aftermath of the Great Recession — from 2009 to 2013 — when roughly 50% of Americans said they were completely satisfied. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)
The Most Popular Job Search Tools
Even More Objectives Statements to customize
Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office
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