Job Market Monitor
Michel Cournoyer
Canada – 272,300 long-term unemployed last year: a problem for several reasons
The number of people out of work for half a year or longer was 272,300 last year, nearly twice as many as six years earlier. Those out of work for a year or longer numbered 96,400 last year – more than double 2007 levels, according to Statistics Canada data. Longer bouts of unemployment are a … Continue reading
Us Older Workers Increasing Participation Rate – Why then aging is decreasing the overall rate ?
A frequent question is: “I’ve heard the participation rate for older workers is increasing, yet you say one of the reasons the overall participation rate has fallen is because people are retiring. Is this a contradiction?” Answer: This isn’t a contradiction. When we talk about an increasing participation rate for older workers, we are referring … Continue reading
LinkedIn – Your current position when you’re unemployed: “open to opportunities”
Krista Canfield, PR Manager at LinkedIn has suggestions: “If you’re currently unemployed list your current position as “open to opportunities.” If you just recently lost your job, make sure you update your status field in your profile so your network knows that you’re looking for a job. You can update it with, “John is currently … Continue reading
The top 1% – Capturing up to 37% in Canada and 47% in the United States, according to new OECD analysis (video)
The share of the richest 1% in total pre-tax income have increased in most OECD countries over the past three decades. This rise is the result of the top 1% capturing a disproportionate share of overall income growth over that timeframe: up to 37% in Canada and 47% in the United States, according to new … Continue reading
April’s Jobs Report in US – Cautionary signs: 73,000 fewer people had jobs
Hiring in February and March was better than first thought. The unemployment rate plunged to 6.3 percent from 6.7 percent. At first glance, Friday’s U.S. jobs report suggested that the agonizingly slow 5-year-old economic recovery had burst into a full sprint. Yet several cautionary signs emerged from the report, starting with that spectacular plunge in … Continue reading
The unemployment data during the 2012 Presidential election – “No evidence” concludes the investigation
Census Bureau employees did not rig national unemployment data to make President Obama look good in advance of the 2012 presidential election, an inspector general’s report concluded. The report follows allegations by a Census employee, Julius Buckmon, that he and others in the Philadelphia office were instructed to falsify data on two important reports. On … Continue reading
Millennials and Retirement – Saving more and at a much earlier age
Millennials are not only saving for retirement at an earlier age than their parent’s generation, but they are also saving more aggressively. This generation (born after 1978) started saving at a median age of 22, more than a decade earlier than their Baby Boomer parents and five years before Gen Xers, a survey from the … Continue reading
Basic Facts About the American Economy and Canada
1) The largest destination for U.S. goods exports is Canada. The second largest is Mexico. China is third. Census 2) We import the most stuff from China. Maybe you did know that. But Canada is second. Census 3) Canada is our largest overall trading partner. We’re just really lucky to have them (and of course … Continue reading
US in April – Total nonfarm payroll employment rose by 288,000 and UR down at 6.3 percent
Total nonfarm payroll employment rose by 288,000, and the unemployment rate fell by 0.4 percentage point to 6.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction. Household Survey Data In … Continue reading
US – Widespread labor shortages ahead says the conference board
American workers have endured six years of depleted wealth, stagnant wages, and general insecurity. But their fortunes are about to change, according to a surprising new study from The Conference Board. From a Buyer’s Market to a Seller’s Market predicts unemployment in the United States — currently 6.7 percent and falling rapidly — will reach … Continue reading
US – The state of the labor market in figures
In advance of the monthly employment report from BLS, the Center for American Progress today released an analysis of the current state of the U.S. labor market. The analysis takes an in-depth look at data beyond the unemployment rate, and finds that the rest of the statistics we have on the labor market paint a … Continue reading
Do Fewer Unions Make Countries More Competitive? No it seems
The effect of unionization on a country’s economic competitiveness is of great interest to — and controversy among — economists. Are countries with higher rates of unionization more or less economically competitive? We can take a first look by comparing measures of unionized workers in developed countries against a measure of those countries’ competitiveness. The chart below … Continue reading
US – About 14.7 million people, or 4.7 percent of the population, were near-poor in 2012
This report provides data on the demographic characteristics of people close to, but not below, official poverty thresholds from 1966 to 2012. The “near-poor” are people with family income between 100 and 125 percent of the poverty thresholds, allowing for a full examination of the low-income population. The statistics come from the Current Population Survey’s … Continue reading
Philippine – The minimum wage under the Aquino administration (Infographic)
While the Department of Labor and Employment (DOLE) has hiked wages annually, the yearly increase only came in measly P20 increments. As a result, the minimum wage in the National Capital Region only rose by 4.87 percent on average each year. Several labor groups have repeatedly called on the President to approve an across-the-board nationwide … Continue reading
EU28 in March 2014 Unemployment rate was 10.5%, 11.8% for the euro area
The euro area (EA18) seasonally-adjusted unemployment rate was 11.8% in March 2014, stable since December 2013, but down from 12.0% in March 2013. The EU28 unemployment rate was 10.5% in March 2014, stable compared with February 2014, but down from 10.9% in March 2013. These figures are published by Eurostat, the statistical office of the … Continue reading
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