Job Market Monitor
A Closer Look
US – The unemployment rate with the labor force droputs
So what does the unemployment rate picture look like if you take into account all of the labor force droputs since the end of the recession in June of 2009? Not pretty. If you take those labor force dropouts into account, the U.S. does not have an unemployment rate of 5.5 percent. Instead, it has … Continue reading
Japan – Three measures of slack in labor markets
How likely are Japan’s workers to see a bumper salary increase? The latest labor market data — showing a 1.3 percent annual increase in wages in January — is a hopeful sign. A more detailed answer comes from examining alternative measures of slack in the labor market. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
Canada – Job quality is now at a record low CIBC finds
Job quality in Canada is now at a record low and showing little sign it will turn around in the near future, finds CIBC’s latest Canadian Employment Quality Index. The index, which measures the quality of employment from a compensation perspective, shows declines in all measures and indicates the drop in Canadian job quality is … Continue reading
HR Software – Western European businesses spent a vast €2.5 billion on it
Technology is something that HR needs to embrace, given current HR tech adoption rates. According to consultancy Towers Watson, western European businesses spent a vast €2.5 billion on HR software systems last year, with the market showing a compound annual growth rate of 7%. This figure is expected to stay stable for the next five … Continue reading
OK – Old displace young on income ladder
When I was a kid old people weren’t very well off. The words poor and pensioner often went together. I remember a poster (presumably by one of the age charities) which I used to pass on the way to my swimming lesson. It said something like, “Poverty and loneliness, the punishment for old age.” That would have … Continue reading
Charlie Hebdo – There is one big element missing from the discussion: unemployment
The deaths of those working at Charlie Hebdo have resulted in a great deal of soul-searching in Europe. Here in Brussels, which had its own moments of anxiety following Charlie Hebdo, there is a focus on what causes radicalization and what can be done to prevent it. A lot of the discussion is on better … Continue reading
US – The Wage Stagnation in charts
Wage stagnation for the vast majority was not created by abstract economic trends. Rather, wages were suppressed by policy choices made on behalf of those with the most income, wealth, and power. In the past few decades, the American economy generated lots of income and wealth that would have allowed substantial living standards gains for … Continue reading
Walmart’s Raise – Could it raise the floor for the entire labor force ?
Remember when Walmart got panned for running a Thanksgiving food drive for its own employees—overlooking the irony of demonstrating noblesse oblige by asking customers to subsidize the workers the company itself impoverished? The retail giant took a more strategic approach last week when rolling out its latest do-gooder scheme: raising its base wage incrementally to … Continue reading
Unemployment leads to 45,000 suicides every year study finds
One in five suicides around the world is caused by this and the figure is rising. Unemployment is linked to 45,000 suicides around the world each year, a new study finds. This represents around one in five of the total number of global suicides. The research, published in The Lancet Psychiatry, gathered data from 63 … Continue reading
US – Alternative entrepreneurship measures indicate that entrepreneurship is back to pre-crisis levels Boston Fed finds
In recent years, it is argued, the level of entrepreneurial activity in the United States has declined, causing concern because of its potential macroeconomic implications. In particular, it is feared that a lower rate of firm creation may be associated with lower productivity growth and, hence, lower economic growth in the coming years. This paper … Continue reading
Texas – Largely responsible for net job increase since 2007 AEI finds
It’s a pretty impressive story of how job creation in just one state – Texas – has made such a significant contribution to the 1.169 million net increase in total US employment (+1,444,290 Texas jobs minus the 275,290 non-Texas job loss) in the seven year period between the start of the Great Recession in December … Continue reading
Chinese Emigrants – A Map
Approximately one-quarter of all Chinese emigrants settle in the United States, with other popular destinations including Canada (896,000), South Korea (657,000), Japan (655,000), Australia (547,000), and Singapore (457,000), according to mid-2013 estimates by the United Nations Population Division. Around half of Chinese immigrants obtain lawful permanent residence in the United States (also known as receiving … Continue reading
The Aging Global Workforce – The productivity challenge could be do-able McKinsey finds
The world is aging, and that matters for growth. In the past, an abundant and growing labor pool was a powerful engine of the world economy; today, the number of workers is starting to decline in many countries. This leaves no alternative but for companies, individuals, and governments to work in smarter ways. In an … Continue reading
Inequalities in US – All 50 states have experienced widening income inequality in recent decades EPI finds
Economic inequality is, at long last, commanding attention from policymakers, the media, and everyday citizens. There is growing recognition that we need an inclusive economy that works for everyone—not just for those at the top. While there are plentiful data examining the fortunes of the top 1 percent at the national level, this report uses … Continue reading
Immigration – The points system is dead
Canada in January 2015 is set to launch a revamped immigrant selection system known as “Express Entry,” after extensive preparations throughout 2014. After several years of upheaval in Canadian immigration policy, this moment marks the end of a quietrevolution: the demise of the traditional points system worldwide. Rather than giving permanent residence to any immigrant … Continue reading
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