Job Market Monitor
Michel Cournoyer
New Jersey – Unemployment Rate at 35-Year High (9.8%)
New Jersey’s unemployment rate jumped to a 35-year high of 9.8 percent in July, the state Labor Department said. The rate climbed from 9.6 percent in June and is above the national level of 8.3 percent, which also increased last month. New Jersey lost 12,000 jobs in July, with the largest drops in manufacturing, construction, … Continue reading
Chart – International comparaison of employment-population ratios by sex
In 2011, among countries covered by the BLS international comparisons program, Mexico had the highest employment-population ratio among men (72.4 percent), and Canada and New Zealand had the highest employment-population ratios among women (58.5 and 58.3 percent, respectively). via International employment-population ratios, 2011.
U.S. Currency – The paper company used to make the paper since 1879 plans layoffs
The western Massachusetts company that has provided the paper used to make U.S. currency since 1879 has announced plans to lay off 55 workers. Dalton-based Crane & Co. says the job eliminations announced Wednesday are part of a consolidation plan to rejuvenate the 211-year-old paper company’s stationery business. The Berkshire Eagle reports that layoffs will … Continue reading
Unemployment Rates – U.S. vs other ‘mature’ economies – A Graph
How does the performance of the American economy compare to other similar economies–i.e., “mature” market economies, with high per capita GDP. With that in mind, take a look at this graph of unemployment rates over the past 12 years, and at my comments on it below. Focus on the maroon, yellow, and light blue lines. … Continue reading
Unemployment Insurance Claims – Up by only 2,000
SEASONALLY ADJUSTED DATA In the week ending August 11, the advance figure for seasonally adjusted initial claims was 366,000, an increase of 2,000 from the previous week’s revised figure of 364,000. The 4-week moving average was 363,750, a decrease of 5,500 from the previous week’s revised average of 369,250. The advance seasonally adjusted insured unemployment rate was 2.6 percent … Continue reading
IP – Layoffs at box plant as one shift closing down
Approximately six months after International Paper took over the Bogalusa paper mill and box plant from Temple-Inland and three months after company officials joined Gov. Bobby Jindal in announcing a $44 million investment at the facility, IP confirmed that it laid off “less than 20” of its box plant employees. IP Spokesman Scott M. Sauer … Continue reading
US – Work-Sharing to Stop Layoffs with $100 Million to States
The Labor Department announced on Monday that it will be awarding almost $100 million in grant funding to states to prevent layoffs by allowing businesses to pay employees as part-time workers and the federal government will pick up the tab for the cost of a full-time paycheck. The “work-sharing” program was passed as part of … Continue reading
Las Vegas – Layoffs Coming As Several Restaurants Close
Several hundred people could soon lose there jobs at three restaurants on the Las Vegas Strip. The “Review-Journal” reports Red Square, China Grill, and Red, White and Blue inside The Hotel at Mandalay Bay will close November 18th. Over 350 workers are expected to be laid off… via Layoffs Coming As Several Restaurants Close « … Continue reading
US – Government employment Job Cuts – 1.7 million more jobs
Recent trends in the national labor market demonstrate the harm inflicted on the economy by cutting government spending and laying off government employees in the middle of an already challenging economic recovery. Just as with private sector layoffs, government layoffs increase the number of people out of work. And given that there are already nearly … Continue reading
Legal Services Corp – Layoffs of 8 percent of agencies’ lawyers
The nation’s providers of civil legal assistance predict that funding cuts will leave them no choice this year but to lay off about 8 percent of lawyers and support staff, close branch offices and narrow the types of services they provide, Legal Services Corp. announced on August 15… via More legal aid lawyers on the … Continue reading
Wall Street – More Layoffs to Come
Big banks are unlikely to be broken up — but they will keep getting smaller by getting rid of a large numbers of workers. Wall Street financial firms cut more than 75,000 people in 2011, and their employees are bracing for another round of layoffs. Analysts estimate that Wall Street banks will have roughly 10 … Continue reading
Unemployed Need Not Apply – 6 responses to use
At first, the headhunter told her she was a great match, but when he realized she had been out of work for a full year (and not newly unemployed as he had mistakenly assumed), he changed his tune. Company criteria ruled out applicants who had been unemployed for more than six months, he told her. … Continue reading
UK – Olympics Boost – Employment up 201,000 and unemployment rate down 0.2
For April to June 2012: The employment rate for those aged from 16 to 64 was 71.0 per cent, up 0.4 on the quarter. There were 29.48 million people in employment aged 16 and over, up 201,000 on the quarter. The unemployment rate was 8.0 per cent of the economically active population, down 0.2 on … Continue reading
‘Economic suicides’ shake Europe
Antonis Perris, a musician unemployed for more than two years, was desperate. Perris wrote in an online forum late one night that he had run out of money to buy food and cursed those responsible for the economic crisis in Greece. “I have no solution in front of me,” he typed. The next morning, Perris … Continue reading
UK – Record 8 M people working fewer than 25 hours a week
Record numbers of Britons are working part-time after those struggling to find full-time positions pushed the figure above the eight-million mark for the first time. Official figures show that 8.07 million people toil for fewer than 25 hours a week – the highest figure since records began in 1992. One in seven of them would … Continue reading
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