Job Market Monitor
Michel Cournoyer
US – While 80 percent of Grads expect their first employers to provide them with a formal training program, only 52 percent recieve it finds Accenture 2014 College Graduate Employment Survey
The Accenture 2014 College Graduate Employment Survey explores the expectations and experiences of US college students who will be graduating in 2014 and those who graduated in 2012 and 2013 related to education, skills, finding a job, salary expectations, debt and post-graduation living arrangements. The survey polled more than 2,000 students and compares the perceptions … Continue reading
Canada – Statcan job numbers: the measurements don’t even address the most interesting information says Don Drummond
Statistics Canada’s survey presents the number of jobs created or lost for the given month, as well as the unemployment rate. Don Drummond, an economist who wrote a report for the government five years ago on how to improve the country’s labour-market data, said the concerns over the Labour Force Survey lie in the limitations … Continue reading
Australia – Unemployment steady at 5.8 per cent and full-time jobs added
Australia’s unemployment rate has held steady at 5.8 per cent, with the estimated addition of 14,200 jobs. The result defied economist expectations of a small tick up in unemployment to 5.9 per cent, with most having expected a payback after a large decline in the jobless rate last month. However, the Bureau of Statistics figures … Continue reading
US – A Map of unemployment rates by County (2013 average)
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Greece – Unemployment down for fifth straight month (to 26.5 percent)
Greece’s jobless rate improved in February to its lowest rate in more than a year, data showed on Thursday, in another sign the Greek economy is emerging from a crippling six-year slump. Unemployment dropped for a fifth consecutive month, to 26.5 percent from a downwardly revised 26.6 percent the month before, the Greek statistics service … Continue reading
Jobless Claims in US – A decrease of 26,000
SEASONALLY ADJUSTED DATA (from the official Press Release) In the week ending May 3, the advance figure for seasonally adjusted initial claims was 319,000, a decrease of 26,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 344,000 to 345,000. The 4-week moving average was 324,750, an increase … Continue reading
East Asia Pacific – more than 30% of people ages 15 to 24 are completely left out—they have neither a job nor receive any education or training says World Bank Report
KEY FINDINGS In the last 20 years, East Asia Pacific saw rising productivity amid a brisk structural transformation, with large movements of people into cities and higher output in agriculture, manufacture and services. Countries that were poor a generation ago successfully integrated into the global value chain, taking advantage of low labor costs. The unprecedented … Continue reading
Boston Fed / To cut 160 jobs
The Federal Reserve Bank of Boston will cut nearly 15 percent of its workforce in the next three to four years — the largest layoff at the institution in more than a decade. Last week bank officials informed 160 employees — an entire division — that their jobs would be eliminated because a key customer, … Continue reading
Yellen’s Testimony – Conditions in the labor market are still far from satisfactory
Conditions in the labor market have continued to improve. The unemployment rate was 6.3 percent in April, about 1-1/4 percentage points below where it was a year ago. Moreover, gains in payroll employment averaged nearly 200,000 jobs per month over the past year. During the economic recovery so far, payroll employment has increased by about … Continue reading
Ontario – How would the Retirement Pension Plan work ?
Often considered an issue that only engages politics at the federal level, pensions have dominated much of the early debate so far in the Ontario provincial election. The reason is a proposal put forward by Liberal Leader Kathleen Wynne to create a made-in-Ontario pension called the Ontario Retirement Pension Plan (ORPP) to supplement the Canada … Continue reading
US – Unemployment dynamics and the duration of unemployment
Suppose you divided workers into two groups, which we designate as type H and type L, and conjectured that the number of newly unemployed workers each month represents a mixture of the two types and further that there are differences in the probabilities that each of the two types will be successful in finding jobs. … Continue reading
5 Challenges Facing the Indian Job Market
(Guest post by Sarah Brooks*) – The world is watching as the General Election unfolds in India, with many hoping that a possible election of Narendra Modi as Prime Minister will give the Indian economy the jolt it so desperately needs. The new leader will definitely have his work cut out for him, as India … Continue reading
Barclays – To cut 19,000 jobs over three years
As part of a new strategy, the investment part of the bank will lose about 7,000 jobs by the end of 2016. Barclays’ investment bank has been hit by a slowdown in the demand for government and company debt. Barclays will also set up a “bad bank” which will eventually sell or run down £115bn … Continue reading
Canada – The 2012/13 Employment Insurance (EI) report: 1,310,000 Unemployed vs 509,000 Regular beneficiaries
The 2012/13 Employment Insurance (EI) Monitoring and Assessment Report examines the EI program for the 2012/13 fiscal year. Unless otherwise indicated, these highlights are for 2012/13 or relate to changes from 2011/12 to 2012/13. The number of regular and Work-Sharing claims fell, as the result of ongoing economic growth. The number of regular benefits claims … Continue reading
Canada’s Action Plan – Job-vacancy rate plunges as Kijiji data are dropped
The Conservative government has quietly adjusted its labour data to ignore job postings from Kijiji and similar websites, a change that essentially erases the dire warnings of labour shortages that Ottawa has used as justification for expanding the controversial temporary foreign worker program. With these sites removed from the source data, the government’s latest labour … Continue reading
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