Job Market Monitor
A Closer Look
Wages Growth in US – Wage are indded growing with the decline of unemployment
Wage growth — described as slow and unconvincing by Federal Reserve officials plotting their path to higher interest rates — is more robust by some measures than commonly acknowledged due to changes in the composition of the workforce. With unemployment close to the lowest in eight years, accelerating pay gains would force Fed Chair Janet … Continue reading
Weight and Work – 44 percent of workers say they’ve gained weight in their current job
Women (49 percent) are more likely than men (39 percent) to report gaining weight While a quarter of employees have access to employer-sponsored wellness benefits, 55 percent of this group does not take advantage of them Fewer than half of workers with extremely low stress levels (41 percent) feel they are overweight compared to 77 … Continue reading
Character Skills – Forms of childhood misbehaviour at school are valued in the labor market
Even if measurement is correct, and there is no gaming or cheating by teachers or schools, it is not obvious which character skills we want to reward or punish. To illustrate this point, in recent research, my research team and I look at roughly 7,000 men and women who were born in the same week … Continue reading
Recent Graduates in Education in US – A puzzling picture
The picture for the most recent graduates is more puzzling. Remembering that we are looking only at those who are employed, it’s surprising that the majority in the final year of the data are employed somewhere other than in education. Maybe some of this has to do with how the data was collected. (A respondent … Continue reading
Job Cuts in Banks – Another 30% could be lost
The downsizing of the bank workforce is about to accelerate as more technology takes over jobs humans used to do, according to a new Citigroup report. Another 30% of bank jobs could be lost between 2015 and 2025, mainly due to retail banking automation, Citi warned. “Fintech is forcing banking to a tipping point,” Citi … Continue reading
Post-secondary Education in US – The academic-dominated approach is not working
The academic-dominated approach is not working, especially for economically disadvantaged students. Of this group, about 20 percent of teenagers don’t graduate from high school at all. Of those who do graduate, about half matriculate to some form of college. But many are not ready: two-thirds of low-income students at community colleges start in remedial classes. … Continue reading
Poverty in US – A significant shifts in the geography
The Great Recession may have ended in 2009, but despite the subsequent jobs rebound and declining unemployment rate, the number of people living below the federal poverty line in the United States remains stuck at recession-era record levels. The rapid growth of the nation’s poor population during the 2000s also coincided with significant shifts in … Continue reading
US – The middle-class is shrinking Pew Research finds
The share of Americans who live in middle class households is shrinking. The share of U.S. adults living in middle-income households fell to 50% in 2015, after more than four decades in which those households served as the nation’s economic majority. And the financial gaps between middle- and upper-income Americans have widened, with upper-income households holding … Continue reading
Demographic trends in US – More racially and ethnically diverse
Americans are more racially and ethnically diverse than in the past, and the U.S. is projected to be even more diverse in the coming decades. Asia has replaced Latin America (including Mexico) as the biggest source of new immigrants to the U.S. Chosen excerpts by Job Market Monitor. Read the whole story at 10 demographic … Continue reading
Retirement – We shouldn’t even use the word any more
The transition from employment to retirement used to be marked by a date on a calendar, along with some sheet cake, and a maybe a gold watch. Those days are long gone for most workers in the United States. Today, the journey toward complete withdrawal from the labor force can last many years. Economists refer … Continue reading
Youth – The world is roughly split into two
The world is roughly split into two – between countries where the population aged 15-19 will increase (almost threefold in the case of Niger) and where it will decrease. Chosen excerpts by Job Market Monitor. Read the whole story at Japan is not the only country worrying about population decline – get used to a two-speed … Continue reading
Colleges in US – The tremendous growth in the number of short credentials awarded
Over the past decade there has been tremendous growth in the number of short credentials awarded by public community colleges. These programs of study are explicitly vocational and require fewer credits for completion than an associate’s degree. However, it is not clear whether students benefit from obtaining these certificates. On the one hand, these credentials … Continue reading
Prosperity and Inequality – 43 percent of the world’s 1,645 billionaires were from emerging markets in 2014
Prosperity is not necessarily a result of crony capitalism, unfair business advantages or control of natural resources, monopolies, and favoritism. In fact, a new billionaire class has emerged that is testimony to innovation, creativity, ingenuity, and other capitalist skills traditionally associated with advanced economies. Far from disadvantaging poor and middle-class workers, these billionaires have compiled … Continue reading
Measuring Inequality – Spending inequality is dramatically smaller than wealth inequality
In a just-released study, we provide the first picture of actual U.S. inequality. We account for inequality in labor earnings and wealth, as Thomas Piketty and many others do. And we get to the bottom line: what does inequality in spending look like after accounting for government taxes and benefits? Our findings dramatically alter the … Continue reading
Automatic stabilizers in US – A major tool the government uses to respond to recession (video)
Automatic stabilizers—mechanisms built into the federal budget that increase spending or decrease taxes when the economy slows without any vote from Congress– are a major tool the government uses to respond to recession. For instance, spending on unemployment compensation automatically increases when there are more people out of work. During the Great Recession, automatic stabilizers … Continue reading
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