A Closer Look

The COVID Retirement Boom – Over 3 million excess retirements says St-Louis Fed

The labor force participation rate1 registered its largest drop on record in 2020, falling from 63.2 percent in the fourth quarter of 2019 to 60.8 percent in the second quarter of 2020.2 By the second quarter of 2021, the rate had recovered slightly, to 61.6 percent, but was still 1.6 percentage points below its pre-pandemic … Continue reading →

COVID-19, Jobs Lost,  Recruiting and Retraining – A survey of knowledge workers across US, 4 Australia, Germany, Japan, France, and the UK

The past year has reshaped the global talent market Chosen excerpts by Job Market Monitor. Read the whole story @ Investing to Win Talent

Apprenticeships – The real costs and benefits (Video)

Turning recommendations into action to improve apprenticeships for employers and learners. Following the publication of its report, The St Martin’s Group, in partnership with City & Guilds and NCFE held an event to discuss the key insights from the report and explore how the recommendations could be delivered to drive greater update and improvements in … Continue reading →

Skills – What are they ? (video)

Education of Immigrants in EU – One third have a degree

An important dimension of migrant integration into host societies is the level of educational attainment. In 2020, just over one third (35.6%) adult migrants (aged 25-54) who were born in another EU Member State had a tertiary level of education. This rate was lower for migrants who were born outside the EU (29.6%). By contrast, … Continue reading →

Unemployed during Covid in US – Most have considered changing occupations

About half of U.S. adults who are currently unemployed and are looking for a job are pessimistic about their prospects for future employment. A new Pew Research Center survey finds that about half of U.S. adults who are currently unemployed, furloughed or temporarily laid off and are looking for a job are pessimistic about their … Continue reading →

An economy-wide labor shortage in US ?

Monthly job-growth over the past 3 months has averaged 540,000, a pace that would see the economy hit pre-covid measures of labor market health by the end of 2022. While recovery can’t come soon enough for U.S. workers, if we do hit this target of pre-COVID labor market health by the end of 2022 it … Continue reading →

UI Claims in US (as of January 23, 2021) – 18 million above where they were a year ago

Figure A shows continuing claims in all programs over time (the latest data are for January 23rd). Continuing claims are currently more than 18 million above where they were a year ago. The large increase in continuing claims in the most recent data was due to increases in PUA and PEUC. This is likely workers … Continue reading →

Workforce Training for Job Recovery – An Opportunity Account

In this analysis, we examine the impacts of the pandemic recession across different dimensions, including employment, labor force participation, and the need to switch industries. This analysis provides texture and evidence to the emerging understanding that women and people of color, working in the service industry, have been the most negatively affected. The challenge of … Continue reading →

Canada Emergency Wage Subsidy (CEWS) – About $188,000 per job per year

In the Trudeau government’s recent mini-budget, Finance Minister Chrystia Freeland threw so many large numbers at us that Canadians might be forgiven for missing some important announcements. Here’s one number to bear in mind: $99.6 billion. That’s the new projected cost of the Canada Emergency Wage Subsidy (CEWS) through June. CEWS is now the largest … Continue reading →

Covid and Young Adults in US – 52% are living with their parents

The share of 18- to 29-year-olds living with their parents has become a majority since U.S. coronavirus cases began spreading early this year. Chosen excerpts by Job Market Monitor. Read the whole story @ 52% of young adults in US are living with their parents amid COVID-19 | Pew Research Center

Immigrants in US – Key charts and facts from 1980 to 2018

Key charts and statistics about immigrants in the United States from 1980 to 2018. Source: Immigrants in America: Key Charts and Facts | Pew Research Center

Covid – Will it accelerate automation?

Less globalisation, more automation: the economic crisis induced by pandemic is likely to encourage a surge of labour-replacing technology. That will be disruptive, unequal and challenging for workers.Workers in developing countries are already jittery with worries ranging from “rebound” outbreaks and lay-offs to the onset of cabin fever. As if workers don’t have enough on … Continue reading →

Productivity and Wages in US – They aren’t keeping up

While net productivity has continued to increase by an expected 70%, hourly compensation in the country is less than a fifth of that at just 12%. The growth in productivity has more than doubled that of hourly compensation for U.S. workers since 1948. With net productivity in the country growing by roughly 253 percent in … Continue reading →

Wage Growth in US – The Illusion

Despite a sharp spike in unemployment since March 2020, aggregate wage growth has accelerated. This acceleration has been almost entirely attributable to job losses among low-wage workers. Wage growth for those who remain employed has been flat. This pattern is not unique to COVID-19 but is more profound now than in previous recessions. This means … Continue reading →