Job Market Monitor
Michel Cournoyer
Ireland / Under-45s more hit by recession finds ESRI
Those aged under 45 have been affected “dramatically” more by the property crash and recession than those 45 and over, according to a new research paper published yesterday by the Economic and Social Research Institute, a Dublin-based think tank. When comparing a range of indicators over the half-decade to 2009/2010, the report described the contrast … Continue reading
US / When will the Jobs Gap be filled ?
Below is an update of the graph showing job losses from the start of the employment recession, in percentage terms, with a projection assuming the current rate of payroll growth will continue. This suggests that employment will exceed the pre-recession peak around July 2014 (Private employment will reach a new high around March of 2014). … Continue reading
US Grads / Being overqualified, they express regrets finds McKinsey
McKinsey partnered with Chegg Inc. to conduct a survey that gauges the attitudes of more than 4,900 recent graduates on a range of issues. The mix included attendees of four-year and two-year private and public colleges, as well as vocational and for-profit institutions. The survey primarily focused on students who graduated between 2009 and 2012, … Continue reading
US / Job openings and unemployment are both worsening
When an economy is humming, there are lots of job openings and low unemployment. When the economy is malfunctioning, there are few openings and unemployment is high. The regular relationship between job openings and unemployment is called the Beveridge Curve. If the curve shifts outward it means that a given level of job openings is associated … Continue reading
UK / The 18-24’s Job Gap: 395,000 jobs finds TUC research
People aged 18-24 are far less likely to be in work today than before the recession and 395,000 more jobs are needed before youth unemployment rates return to their 2008 level, according to research by the Trade Union Congress (TUC). The research has been published ahead of the latest employment figures tomorrow, which are expected … Continue reading
India / 69% of the workforce looking to upgrade skills
A large chunk of the workforce in the emerging markets of Asia-Pacific is looking at skill enhancement and career development when compared to their global peers, says a recent study conducted by a global recruitment firm. As many as 69% of Indian employees are either actively seeking or considering further education or training, significantly higher … Continue reading
US / The majority of lowest-paid workers are employed by large corporations
The majority of America’s lowest-paid workers are employed by large corporations, not small businesses, and that most of the largest low-wage employers have recovered from the recession and are in a strong financial position. Specifically: * The majority (66 percent) of low-wage workers are not employed by small businesses, but rather by large corporations with … Continue reading
(Update3) Bangladesh Garment Factory Collapsed Building / death toll 1,127 and garment workers allowed to form trade unions
Nearly three weeks after a Bangladesh garment-factory building collapsed, the search for the dead ended Monday at the site of the worst disaster in the history of the global garment industry. The death toll: 1,127. The collapse of the Rana Plaza building focused worldwide attention on the hazardous conditions in Bangladesh’s low-cost garment industry and … Continue reading
US / The unemployment rate is understating the “true” amount of under-employment
The Fed/IMF/GS economists argue that the unemployment rate is now substantially understating the “true” amount of under-employment in the economy because the labour force participation rate has fallen as a direct consequence of the depth and longevity of the recession. They show that, while this effect does not apply during a normal recession, workers have … Continue reading
US / New Mothers are more than ever College Educated
Mothers with infant children1 in the U.S. today are more educated than they ever have been. In 2011, more than six-in-ten (66%) had at least some college education, while 34% had a high school diploma or less and just 14% lacked a high school diploma, according to a new Pew Research Center analysis of U.S. … Continue reading
Employment, Obamacare and Education
Even though the headline unemployment rate is falling, a large part of that drop is due to the precipitous plunge in the participation rate, as well as a rise in low-paying jobs. Curiously, it now seems a disproportionately high level of temporary jobs is no longer a precursor to economic recovery but is a new … Continue reading
It’s unemployment that will haunt our children, not the deficit
And it’s not just the jobless who have suffered over the past five years: the ILO suggests that a far larger number of young people have found themselves stuck in temporary work or part-time, insecure employment. That lack of financial security makes it harder to think about settling down, starting a family, planning for the … Continue reading
UK / Recession is a good time to start a business says Lord Young
The prime minister’s adviser on enterprise has told the cabinet that the economic downturn is an excellent time for new businesses to boost profits and grow because labour is cheap, the Observer can reveal. Lord Young, a cabinet minister under the late Baroness Thatcher, who is the only aide with his own office in Downing … Continue reading
US Unemployment vs Germany: Not due to GDP Growth
Growth in Germany and the United States have been virtually identical since the beginning of the downturn. While Germany has a large balance of trade surplus, in contrast to the deficit in the United States, its consumption growth has been weaker. Chosen excerpts by Job Market Monitor via Low Unemployment in Germany: The Story Is … Continue reading
Sharp / To cut another 5,000 jobs
Japan’s financially beleaguered Sharp Corp. is expected to reveal that it will be eliminating 5,000 positions from its current workforce of 51,000 by March of 2016. As the TV manufacturer struggles to stay afloat after losses amounting to billions of dollars over the last fiscal year, their revival plans will see the sales of factories … Continue reading
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