Job Market Monitor
A Closer Look
Minimum Wages in US – Wages for low-wage workers rose faster in states that increased it
In 2015, wages for low-wage workers rose faster in states that increased their minimum wage than in states that saw no minimum wage increase. Working people in states that increased the minimum wage through legislation—which led to larger increases than indexed increases—saw the biggest boost to their wages, regardless of gender. Women, however, benefited slightly … Continue reading
Gender Gap in US – Pay drops as women take over a male-dominated field
A new study from researchers at Cornell University found that the difference between the occupations and industries in which men and women work has recently become the single largest cause of the gender pay gap, accounting for more than half of it. In fact, another study shows, when women enter fields in greater numbers, pay … Continue reading
Aging – The picture looks a lot brighter using a series of new measures
The populations of most countries of the world are aging, prompting a deluge of news stories about slower economic growth, reduced labor force participation, looming pension crises, exploding health care costs and the reduced productivity and cognitive functioning of the elderly. These stories are dire, in part because the most widely used measure of aging … Continue reading
Work – From a place to a mind-set
Work is evolving from being a place to being a mind-set. It’s evolving from something I do during a fixed period of time to something that I do almost all the time, from something that was separate from my life to something that, for many of us, is integral to our life. I also think … Continue reading
A Universal Basic Income (UBI) for a post-work economy
Many are now calling for a “universal basic income” (UBI)—where the state gives everyone enough to live on. This would put a floor under the class of people we’re calling the “precariat,” people for whom work doesn’t lead to increased financial security. It would free us from the bullshit, allowing everyone to benefit from automation, … Continue reading
Social Security in US – More people claim at their first opportunity
More people claim at their first opportunity More people claim Social Security at age 62, the earliest opportunity to get benefits, than any other age, according to a study of Social Security data by the Center for Retirement Research at Boston College. Few people wait beyond full retirement age to claim By contrast, only a … Continue reading
Japan – Population shrank by nearly a million in 5 years
Japan’s population shrank by nearly a million during the last half-decade, official census figures confirmed on Friday, an unprecedented drop for a society not ravaged by war or other deadly crisis, and one that helps explain the country’s persistent economic woes. It was the first time since Japan began collecting census data in 1920 that … Continue reading
Gen Y – Paying the price for baby boomers
The full scale of the financial rout facing millennials is revealed today in exclusive new data that points to a perfect storm of factors besetting an entire generation of young adults around the world.A combination of debt, joblessness, globalisation, demographics and rising house prices is depressing the incomes and prospects of millions of young people … Continue reading
Older Women – Study finds robust evidence of age discrimination in hiring
A study that came out last fall by economists at the University of California at Irvine and Tulane University found “robust evidence of age discrimination in hiring against older women.” The data show that it is harder for older women to find jobs than it is for older men. The researchers created 40,000 job applications … Continue reading
US – The productivity miracle is over Robert Gordon says
In his magisterial new book, The Rise and Fall of American Growth, the Northwestern University professor [Economist Robert Gordon] lays out the case that the productivity miracle underlying the American way of life was largely a one-time deal. It was driven by a flurry of technologies—electric lights, telephones, automobiles, indoor plumbing—that fundamentally transformed millions of … Continue reading
The Digital Economy – Dislocations in labor markets, with old industries and jobs disappearing Don Tapscott says
In the book, I warned that technology might actually destroy more jobs than it was creating. I asked, “How will we manage the transition to new types of work and a new knowledge base for the economy? ”Now, for the first time in modern history, economic growth in OECD countries is not generating a commensurate … Continue reading
Youth in EU – The best educated ever yet, 8.7 million young people aged 15-29 are unemployed
The EU Youth Report reveals that generally young people are better educated than their predecessors and less young people drop out of school in the EU. Yet, 8.7 million young people aged 15-29 are unemployed, 13.7 million are not in employment, education or training (NEETs) and close to 27 million are at risk of poverty … Continue reading
Immigration in Canada in 2016 – The most immigrants it has since the 1910s
Following Immigration Minister John McCallum’s speech on March 8, 2016 at the Brampton Multicultural Community Centre, many were left wondering about the direction presented for this year. While Minister McCallum was quoted saying that this is a “significant shift” in policy, it remains to be seen when these changes will be implemented, and of the … Continue reading
Robots and Jobs in US – Two-thirds of Americans expect that robots and computers will do much of the work currently done by humans within 50 years
A majority of Americans predict that within 50 years, robots and computers will do much of the work currently done by humans – but few workers expect their own jobs or professions to experience substantial impacts Chosen excerpts by Job Market Monitor. Read the whole story at Future of Workforce Automation: Americans’ Predicitions | Pew Research … Continue reading
US – Income Inequality leads low-income boys to drop out of high school more often
Greater income gaps between those at the bottom and middle of the income distribution lead low-income boys to drop out of high school more often than their counterparts in lower inequality areas, suggesting that there is an important link between income inequality and reduced rates of upward mobility, according to a new paper presented today … Continue reading
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