Job Market Monitor
A Closer Look
Higher Education in US – Clear information about costs and quality is needed study says
Che cost of acquiring the skills needed to be successful in the future economy is likely to fall sharply. That will be good for the economy. It will also open up opportunities for skill-based economic advancement for the many Americans who today cannot afford college without incurring crushing debt. For this transformation to achieve its … Continue reading
US – The most prestigious professions
What jobs do Americans consider the most prestigious? According to The Harris Poll, the majority of adults would encourage their children to pursue a career in engineering. However, doctors, military officers and firefighters are actually seen as the most prestigious professions in the United States. Doctors come first for prestige – 88 percent of US adults … Continue reading
Canada – More young workers give up hope says the Canadian Labour Congress
Despite the positive signs in the most recent labour force survey from Statistics Canada, the picture for the next generation remains bleak. “Last month, another 26,000 young workers gave up looking for a job and left the labour market. If you look at the jobs that our economy has created for these young people over … Continue reading
US – The unemployment rate isn’t the only, or even necessarily the best, indicator
Every month, the Bureau of Labor Statistics releases a flood of data about employment and unemployment in the previous month. And every month, the lion’s share of the attention goes to one figure — the unemployment rate — as an indicator of where the U.S. economy stands. Today, for instance, the BLS said unemployment last … Continue reading
Wages in US – Where are the raises?
After all, according to the Dallas Fed, wages should accelerate once unemployment falls below 6.1 percent. Well, the problem, as economists David Blanchflower and Adam Posen point out, is that there’s still a lot of shadow unemployment right now. That includes people who aren’t just officially jobless, but those who are either too discouraged to look … Continue reading
US – The October Jobs Report in charts
The unemployment rate fell to 5.8%, its lowest level since 2008. The number of Americans in the labor force ticked up slightly from the previous month. And the employment-to-population ratio, a measure of the share of Americans who are working, rose slightly to a five-year high. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
US – Life in the unemployment capital: the case of Yuma
Yuma: A 28.2-percent unemployment rate is outlandishly high. Even in bankrupt and blighted Detroit, the rate was 7.9 percent in August. Among the metro areas whose numbers the Labor Department tracks, there is Yuma, there is El Centro (just 60 miles away in California), and then there is every other city in the nation. Chosen excerpts … Continue reading
Underemployment in Europe – Three forms of it
This article reports on three forms of unemployment in the European Union (EU) which are not covered by the ILO definition of unemployment. They are: underemployed part-time workers, jobless persons seeking a job but not immediately available for work and jobless persons available for work but not seeking it. These three groups do not meet … Continue reading
Job Polarisation in UK – The last two decades
The Resolution Foundation’s report on job polarisation looked at the shift in jobs based on wage distribution. Rather than grouping jobs by a skill classification, they ranked them on the basis of mean hourly pay at the start of the period, then mapped the change over time. This gives something that looks a bit more hourglassy, with … Continue reading
Mining Supply and Services in Ontario – Sustaining 68,000 direct and indirect jobs study finds
In 2011, Ontario’s mining supply and services sector contributed $3.9 billion to the province’sgross domestic product, and sustained around 68,000 direct and indirect jobs, according to to a new study published by the Canadian Association of Mining Equipment and Services for Export (CAMESE). CAMESE managing director Jon Baird said the study’s finding are historic, because … Continue reading
Economic crisis has led to crisis in the field of macroeconomics writes Lawrence Summers
Economic crisis has led to crisis in the field of macroeconomics. The idea that depressions were a concept of only historic interest has been belied by the financial crisis and “Great Recession”. Figures 1a and 1b depicts the gap between actual and potential output estimated as of various dates for both the US and the … Continue reading
US – Labor Market Trends For 2015
Below are my top ten predictions for the workplace for 2015. 1. Companies hiring Generation Z for internships. 2. More millennials are taking leadership roles. 3. Honesty becomes a revered leadership trait. 4. The skills gap continues to widen. 5. The continuous job search picks up. 6. Mobile hiring and the mobile job search explode. … Continue reading
Europe – Fewer people outside the labour force in 2013
This statistical article analyses the economically inactive population, i.e. the population that is neither employed nor unemployed. Since 2002 and despite the economic crisis, the share of the inactive population in the total population of working age has fallen from 31.4 % to 28.0 % in the EU-28 (see Figure 1). This corresponds to a reduction of … Continue reading
China – An increase in the minimum wage leads to a small decline in employment research finds
Our study is the first to use data on minimum wage changes for over 2400 counties in China. We combine the information on minimum wages changes with employment data from the Annual Survey of Industrial Firms, which covers over 70 percent of China’s manufacturing employment. While China instituted a minimum wage system in 1994, enforcement … Continue reading
The Digital Skills Gap – IT can only improve performance with the right training
You’d think that with the advance of emerging computer, nano, mobile — and now yes, even wearable — technologies, individual productivity would be soaring. Instead, of the more than 200 million adults in the US digital workforce, only one in ten consider themselves ‘very proficient’ with the digital tools they use every day. And research … Continue reading
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