Job Market Monitor
A Closer Look
Investment and Productivity in Canada – Investment per worker declined by 20% from 2006 to 2021, significantly in large and medium-sized firms
Investment in fixed capital has been weak in Canada since the mid-2000s. The ratio of investment to net capital stock and investment per worker declined after 2006, especially after 2014. As a result of this investment slowdown, the growth in labour productivity declined after 2006. This paper examines the sources of this weakness in capital … Continue reading
Recession in UK – Stubbornly struggling to grow, with that reality partly hidden by exceptional levels of population growth
Slowly shrinking Let’s start with the basics – what’s dominating most of the (slightly odd) coverage today. At 7am this morning the ONS confirmed what markets were expecting: the UK entered a technical recession in the second half of 2023. A GDP fall of 0.3 per cent in the final quarter of the year meant … Continue reading
Employment Income in Toronto – The lowest level of median employment income amongst the 15 largest metropolitan areas in Canada and the United States
Several recent Fraser Institute studies have found that a “prosperity gap” exists between Ontario and nearby American states. Additional research has shown that the province experienced weak economic growth throughout the 2010s. This paper turns to an examination of the labour market performance of Ontario and Canada’s largest CMA, the metropolis of Toronto. Specifically, we … Continue reading
International Students in Canada – Where do the inbound 807,750 come from? (Infographic)
807,750 international students in Canada at all levels of study at the end of 2022. Where do inbound students come from? Chosen excerpts by Job Market Monitor. Read the whole story @ International Students in Canada Infographic – CBIE
Job Report in UK (2023) – The labour market has continued to cool
This morning we got (almost) the full set of labour market data up to the end of 2023. The release sheds light on a whole host of important policy issues, from how tight the labour market is to the scale of the rise in worklessness due to ill health. So, what have we found out? … Continue reading
Anti-Union ‘Right-to-Work’ Laws – They damage state economies
This week, Michigan’s 2023 repeal of a so-called “right-to-work” (RTW) law takes effect. Meanwhile, New Hampshire’s state legislature is once again debating a RTW bill at a moment when it could not be clearer that RTW laws damage states’ economies by accelerating income inequality and reducing job quality, without delivering any job growth. RTW laws—and … Continue reading
Microcredentials – Here to stay, but their future is open
They can increase the provision of labour-market-relevant vocational education and training (VET), supporting national, regional and sectoral upskilling and reskilling strategies, offering learners targeted training for better employment prospects, and helping employers improve employee retention and productivity. They support the modularisation of qualifications and the validation of prior learning, enabling the inclusion of the most … Continue reading
International Students in Canada – Their number will continue to grow by 100,000—about 55% less than the net increase in 2023
The federal government’s new cap on international study permit applications will not immediately reduce rental demand from international students this year—but it should dramatically slow its growth in 2024. We estimate the increase in rental units demanded by international students could fall by roughly half in 2024. The number of international students living in Canada—and … Continue reading
Canada – Students and new graduates are bearing the brunt of the labour market downturn
The magnitude and pace of Canada’s rising unemployment rate are consistent with trends observed during past recessions. Unlike prior recessions, though, the increase to-date has come without a surge in layoffs – it’s rather taking more time to absorb newly available workers as the population grows rapidly. But it’s students and new graduates rather than … Continue reading
Canada – An economic crisis writes the Fraser Institute
Canada’s Economic Crisis Average per-person incomes in Canada have stagnated from 2016 ($54,154) to 2022 ($55,863). Meanwhile, the United States has seen an increase from $65,792 to $73,565. The average Canadian now earns $17,700 less annually than the average American. Canada ranks just below Louisiana ($57,954) in average per-person income and slightly ahead Kentucky ($54,671). … Continue reading
Canada – A relatively non-competitive and closed business market
Despite population growth and a market size now topping 40 million, Canada remains, compared to the U.S., a relatively non-competitive and closed business market dominated by duopolies and oligopolies. Chosen excerpts by Job Market Monitor. Read the whole story @ Canada’s economic future is looking grim—especially when compared to the U.S. – The Hub
Productivity in Canada – Gone into reverse in the past five years
Not only has Canada’s productivity lagged the U.S. for decades, the trend has actually gone into reverse in the past five years. It is not news that Canada’s productivity performance is listless and lagging U.S. trends. That has been going on for decades. But what is news is that productivity has actually gone into reverse … Continue reading
High-Skilled Migrants – The competition is on
Rarely is interest in high-skilled immigration as visible as it was in 2023, when post-pandemic labor market restructuring prompted major destination countries worldwide to adopt policies targeting certain highly educated workers. The year began with the highest ever permanent migration to countries of the Organization for Economic Cooperation and Development (OECD), driven in part by … Continue reading
Teachers in US – Shortage shows small signs of improvement, but it remains widespread
The COVID-19 pandemic greatly exacerbated a long-standing and widespread teacher shortage in schools. By mid-2022, several indicators of teaching shortages and staffing stress were at record highs. Recent data from the School Pulse Panel (SPP) show that understaffing stress in schools has relented somewhat in the past year, though progress remains modest and uneven. The … Continue reading
Canada – Unprepared for population ageing
Canada long ago missed the chance to properly prepare for the inexorable ageing of its population and its broader implications for healthcare, society and the economy. From 2021 to 2041, the number of seniors (65-plus) will rise from 7,081,800 to 10,869,000, an increase of 3.8 million people.1 Those 75-plus will double and those 85-plus will … Continue reading
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