Job Market Monitor
Michel Cournoyer
UK – Household incomes fall by 13% for those aged 22-30 finds the Institute of Fiscal Studies
People aged 22-30 saw their household incomes fall by 13% between 2007 and 2013, while those between 31 and 59 saw a 7% drop, according to the Institute of Fiscal Studies (IFS). Employment prospects for the under-30s were also hit harder. Living standards are set to be a key issue in the run-up to next … Continue reading
US – Federal Reserve has reduced unemployment by 0.13%
A paper written by two staff members of the Federal Reserve Bank of Atlanta tried to quantify what all the Fed’s new money creation and related measures have accomplished. They conclude that unemployment today would be 0.13% higher without the radical measures and 1.0% higher if nothing at all had been done. Chosen excerpts by … Continue reading
IT – Jobs being matched with job seekers less efficiently than in the past
Expanding use of technology that uses ultra-specific criteria to screen and winnow candidates may be perpetuating one of the most unusual features of the slow rebound in the U.S. labor market: Despite a steady increase in openings since the recession ended in 2009, these positions are being matched with job seekers less efficiently than in … Continue reading
Minimum wage for most tipped workers in US – $2.13 an hour (video)
Economic analyst and former tipped worker David Cooper explains how tipped workers get paid. The minimum wage for most tipped workers is only $2.13 an hour. That means the customer is on the hook for paying the bulk of these workers’ wages. via The truth about how tipped workers get paid – YouTube. Related Posts … Continue reading
Svalbard, Norway – Unemployment is illegal
As governor of Norway’s northernmost territory, Odd Olsen Ingero commands a police force with just six officers and a single detention cell for an area twice the size of New Jersey. Even that is overkill: Nobody has been locked up here in the capital of Svalbard since last summer. And that was for just two … Continue reading
Unemployment rate in Australia – Back to 10-year high
AUSTRALIA’S unemployment rate has bounced back to six per cent, with some economists flagging it could climb higher. THE unemployment rate rose in June from a revised 5.9 per cent for May, largely because of an increase in the number of people looking for work. The jobless rate is now back where it was at … Continue reading
Youth Unemployment Around the World
Young people aged 15-24 are a key consumer group, which have been badly hit by unemployment in most countries since the start of the global economic downturn in 2008 and the profits of many consumer goods companies have been hit as a result. Western Europe had the highest average youth unemployment rate in 2013 at … Continue reading
Welfare in UK – Compulsory treatment for depression would come
Hundreds of thousands of benefit claimants face being stripped of their state allowances if they refuse to undergo treatment for anxiety and depression, under radical plans being drawn up by ministers. Existing welfare rules mean it is not possible to require claimants to have treatment, such as therapy or counselling, as a condition of receiving … Continue reading
Involuntary Part-time Employment in US
As the economy continues its recovery from the Great Recession, we expect the number of those working part time for economic reasons to fall. However, it is probable that the ratio of PTER to unemployment will continue to increase as it has historically done. That is because, during the recoveries, the number of unemployed people … Continue reading
Canada – Employment was little changed in June, unemployment rate at 7.1%
Employment was little changed in June and the unemployment rate rose by 0.1 percentage points to 7.1% as more people were searching for work. Compared with 12 months earlier, employment increased by 72,000 or 0.4%. This was the lowest year-over-year growth rate since February 2010, when year-over-year employment growth resumed following the 2008-2009 labour market downturn. Chart 1 Employment Chart 2 Unemployment rate via The Daily — Labour Force Survey, June 2014.
The Global Workforce Crisis: crippling labor shortages and chronic labor surpluses
Demographic risk is one of the most insidious of all megatrends threatening the global economy, but its impact throughout the world is neither simultaneous nor uniform. For our research [The Boston Consulting Group], we performed simulations on 25 major economies to quantify the extent of labor shortages and surpluses for 2020 and 2030. Overall, by … Continue reading
Labour and social protection institutions are important ingredients of economic growth, quality jobs and human development writes ILO in its World of Work Report 2014
Labour and social protection institutions are important ingredients of economic growth, quality jobs and human development (Chapter 6). It is not possible to achieve economic diversification without active measures to tackle low product- ivity in agriculture and small and medium-sized enterprise, poor working condi- tion traps and high rates of informality. Sustained, strong growth is … Continue reading
The EU priority to youth unemployment – Only France had received an approval
A Youth Guarantee scheme, inspired by the national scheme in Finland, will be introduced by each EU country according to its individual need. It will apply to young people who are out of work for more than four months. It aims to give them a real chance to further their education, or get a job, apprenticeship … Continue reading
US – Half of young people under 25 live “in their parents’ home,” says Census. OK but…
More than 15.3 million twentysomethings—and half of young people under 25—live “in their parents’ home,” according to official Census statistics. Theres just one problem with those official statistics. Theyre criminally misleading. When you read the full Census reports, you often come upon this crucial sentence: It is important to note that the Current Population Survey counts … Continue reading
Resilient Workforce – Some questions you should be asking
If you are not sure of the connection between employee resilience and your company’s ability to thrive in this economy, see how many of these questions you answer “Yes” to: Do you believe it’s challenging for many people to focus on their jobs and keep their spirits up because of what’s going on in their … Continue reading
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