Job Market Monitor
Michel Cournoyer
Decision on Kodak 56,000 retiree health benefits coming
Eastman Kodak Co. retirees are likely to soon become part of a big and growing club they have no interest in joining. A federal bankruptcy court judge in Manhattan on Monday is to hear arguments about Kodak’s plan to eliminate an array of post-retirement benefits. It’s a hearing that was put off one week because … Continue reading
Sweden – SCA to cut 1,500 jobs
Swedish hygiene and paper products maker SCA is to cut jobs, affecting 1,500 people, as part of a move to reduce annual costs by around 300 million euros ($385 million)… “About 1,500 employees are affected and costs are expected to be some 100 million euros,” chief executive Jan Johansson said in a statement ahead of … Continue reading
US, China and the American Job Creation
What has been happening in China – and is likely to be followed by the emergence of other Asian markets – is the increasing development of a substantial middle class consumer base. Today, China has some 250 million middle class consumers, with that figure expected to rise to 600 million by 2020. Once other Asian … Continue reading
Long-term unemployment has received insufficient attention during this presidential campaign – Becker and Posner
The most disturbing aspect of the high unemployment rate during the past 4 years has been, namely, the large number of the unemployed who have been out of work for at least 6 months. Last month 5 million men and women had been unemployed for at least 6 months, and they comprise about 40% of … Continue reading
US – Suicide Rate Rose During The Great Recession
The rate of suicide in the United States rose sharply during the first few years since the start of the recession, a new analysis has found. In the report, which appeared Sunday on the Web site of The Lancet, a medical journal, researchers found that the rate between 2008 and 2010 increased four times faster … Continue reading
Youth Unemployment – US vs Europe
The latest unemployment statistics released this week on both sides of the Atlantic show that the number of jobless is continuing to rise in Europe far above the rate in the U.S., and the picture is especially bleak for young Europeans under the age of 25. In the 27 E.U. nations as a whole, the youth unemployment … Continue reading
America’s jobs nightmare – A UK view
There is an intriguing contrast between the US and UK economies. British GDP remains substantially smaller than it was at its peak but employment has bounced back, helped by lower real wages and a growth in part-time jobs. The US economy has more than caught up all of its lost output and is now bigger … Continue reading
US Job Market – America’s Geriatric Work F(a)rce
There is the schism of America’s workforce since the NBER-defined official end of the recession in June 2009 into the “haves”, or those above 55, who have been able to get a job since the end of the recession, and the “have nots”, or all those in the labor force who have not been able to … Continue reading
Spain – 60,000 More Public Employees Than in 2007
The number of public employees in September stood at a total of 2.99 million, thus lowering the threshold of 3 million for the first time since the third quarter of 2008. Nevertheless, the Spanish public sector still has to this day with more than 59,800 employees at the beginning of the crisis, as in the … Continue reading
The Big Job Gap
” The recovery is real, but it’s still really far from the recovery we need” writes Matthew O’Brien in The Scariest Jobs Chart, Private Sector Edition. (Choosen excerpts by JMM to follow) That’s been the consistent message of the past three years, with consistent job growth that hasn’t been near enough to end our jobs crisis much … Continue reading
A Progressive case against Obama
despite the heated tone of Obama defenses, not one person disputed the underlying factual basis of my argument: 1) Under Barack Obama, economic inequality in terms of income growth has skyrocketed to historically high levels. After I published my piece, Ian Welsh buttressed these claims, pointing me to this St. Louis Federal Reserve chart of the … Continue reading
Youth unemployment – The Telegraph and the Henry Jackson launching a competition with £10,000 prize
The level of unemployment now confronting those starting their working lives – as well as the deep headache it is giving policymakers – has prompted The Telegraph to partner with the Henry Jackson Initiative (HJI), an economic and public policy think tank. Today, we are together launching an essay competition complete with a £10,000 prize … Continue reading
South Africa – Youth unemployment running as high as 50%
South Africa may be the largest and most developed economy on the African continent, but the unemployment rate for younger people has been running as high as 50%, prompting a nationwide debate about schemes where companies get paid for taking on young workers. The extent of youth joblessness, and its associated poverty, is acknowledged to … Continue reading
Inequality – Focus sould be on restoring America’s place in public education
Income inequality has been rising in the US for almost four decades. President Obama plans to increase taxes on those with high incomes while Governor Romney is against such “class warfare”. John Van Reenen argues that a better focus would be on restoring America’s place as a world leader in public education and thereby tackling … Continue reading
US – Breaking out of a decade of income stagnation
The nation’s biggest challenge is in shadow: breaking out of a decade of income stagnation that has afflicted the middle class and the poor and exacerbated inequality. Many of the bedrock assumptions of American culture — about work, progress, fairness and optimism — are being shaken as successive generations worry about the prospect of declining … Continue reading
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