A Closer Look

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Labor Force Participation in US – The CBO’s projections: a drop of 3.7 percentage points over 30 years

What Are CBO’s Current Projections of Labor Force Participation? CBO projects that the rate of labor force participation (that is, the number of people who are either working or seeking work as a share of the civilian noninstitutionalized population age 16 or older) will decline from 62.8 percent in 2017 to 61.0 percent in 2027 and … Continue reading

Artificial Intelligence (AI) and Jobs – Far from killing the jobs of knowledge workers, this tends to free them up to do what they are paid for

“Knowledge work, for the first time, can be produced at volume from NLG-AI systems,” Gould says. “Far from killing the jobs of knowledge workers, this tends to free them up to do what they are paid to do—innovate, model, refine, and improve on the expertise of their business.” “Far from killing the jobs of knowledge … Continue reading

NEET (Neither in Employment nor in Education or Training) – An indicator that is widely misunderstood and therefore misinterpreted

The share of youth which are neither in employment nor in education or training in the youth population (the so-called “NEET rate”) is a relatively new indicator, but one that is given increasing importance by international organizations and the media. The popularity of the “NEET” concept is associated with its assumed potential to address a … Continue reading

LinkedIn – The Global Top Skills

The Global Top Skills of 2016 list reveals several trends about the global job market: Demand for marketers is slowing: While marketing skills like marketing campaign management, SEO/SEM, and channel marketing were in high demand in 2015, things have changed. This year, SEO/SEM dropped five spots from #4 to #9 and marketing campaign management dropped … Continue reading

The “American Dream” – Children’s prospects of earning more than their parents have fallen from 90% to 50% over the past half century

Children’s prospects of achieving the “American Dream” of earning more than their parents have fallen from 90% to 50% over the past half century. This decline has occurred throughout the parental income distribution, for children from both low and high income families, as shown in the chart below.   Most of the decline is due … Continue reading

Immigration – More efficient integration could generate an additional boost of $800 billion to $1 trillion worldwide

Realizing the benefits of immigration hinges on how well new arrivals are integrated into their destination country’s labor market and into society. Today immigrants tend to earn 20 to 30 percent less than native-born workers. But if countries narrow that wage gap to just 5 to 10 percent by integrating immigrants more effectively across various … Continue reading

Canada – Job churn a new reality for young workers

The unemployment rate for young workers has always been higher than the national average. The latest data show the youth jobless rate at about 13 per cent, nearly double the national level. The labour participation rate for youth is 63 per cent, compared with nearly 90 per cent for prime working age employees. Chosen excerpts … Continue reading

STEM – What leads people to a career in science?

It’s an important question because the road to a successful career in science – as with technology, engineering and mathematics, the other STEM fields – can be challenging, often requiring a Ph.D. or other postgraduate training. And once in their fields, there can be political and economic pressures with which to contend. The Bureau of … Continue reading

Parental Leave around the World – Which Countries Have the Most (Infographic)

Most leave policies around the world offer fully paid or partially paid time off. This pay is financed in a variety of ways including by individual employers and by the government. In addition to maternity leave and paternity leave, many countries allow for parental leave. This is extra leave that parents can take after the … Continue reading

US – Black workers in particular may have suffered more widespread wage losses

Census Bureau data shows that median earnings for full-time, year-round workers dropped from by nearly 3 percent for men and 1 percent for women between 2009 and 2014. While new data from the Labor Department shows that wage gains have accelerated over the past two years, that trend is only beginning to make up for … Continue reading

Young People in EU – What are they doing ?

The European Union (EU) totals almost 90 million people aged 15-29, representing 17% of its population. These young people are in very different situations, with education and employment patterns varying considerably between Member States and by age group. Between the ages of 15 and 29, a clear and significant shift occurs from the world of … Continue reading

Our Time – Unprecedented Prosperity and Growing Economic Inequality and Uncertainty

We Live in a Time of Unprecedented Prosperity We have had a great run. The world has never been more prosperous than it is today. People around the world live longer, healthier lives than ever before. In emerging markets, billions of people have moved out of extreme poverty. In the developed world, we enjoy better … Continue reading

Ph.D. and Overeducation in Italy – 31.28% of them report that their Ph.D. title was not useful to get the job they were carrying

In 2009, ISTAT carried out a survey of Ph.D. holders who completed their studies three and five years earlier, in 2006 and in 2004, respectively. The data reveals that unemployment among Ph.D. holders is lower than what is reported for university graduates. A share as high as 92.5% of doctors who completed their studies in … Continue reading

College Education in US – Boost to career earnings much lower for individuals who grew up in lower-income families

A college education, it is hoped, will help the children of the poor and working class gain a larger share of the economic pie. But how much does college really pay off for lower-income Americans? Perhaps surprisingly, there has been little research on how family income background influences the career earnings boost from a college … Continue reading

Community College in US – Just 15 percent acquire a 4-year degree

Community colleges are a vital part of America’s opportunity structure, not least because they often provide a way into higher education for adults from less advantaged backgrounds. Each year there are around 10 million undergraduates enrolled at public, two-year colleges. Among first-generation students, nearly 38 percent attend community colleges, compared to 20 percent of students … Continue reading

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