Job Market Monitor
A Closer Look
UK – Becoming the self-employment capital of Europe
Whether they are a growing underclass or a sign of the UK economy’s bright future, the growing army of self-employed warrant our attention The UK workforce has expanded rapidly over the last year, with the working-age employment rate reaching historically high levels and net job creation of over 900,000 in the year to April 2014. … Continue reading
Journalism vs Public Relations in US – The growing pay gap
The salary gap between public relations specialists and news reporters has widened over the past decade – to almost $20,000 a year, according to 2013 U.S. Bureau of Labor Statistics data analyzed by the Pew Research Center. At the same time, the public relations field has expanded to a degree that these specialists now outnumber … Continue reading
Women in US – The top industries
It is undoubtedly a good time to be a female professional in the United States. According to the Bureau of Labor Statistics’ (BLS) most recent databook on women in the labor force, the unemployment rate for women was lower in 2012 than it was for men, and 38.0% of employed women aged 25 to 64 … Continue reading
Skills Gap around the World – How it affects the global economy (Infographic)
by CareerBuilder. Employers in the world’s 10 largest economies are all struggling with the same task: finding skilled workers to fill open positions. When businesses lack the necessary skilled workers, they suffer from less effective business performance, lower quality work, lower morale and higher employee turnover. via How the Skills Gap Affects the Global Economy | … Continue reading
The Seasons of Economic Cycle in US – Infographic
The United States is in the middle stage of the economic cycle… While the U.S. economy has grown over time, the growth has not been in a straight line. The variations in the pace of growth around the long-term trend are called economic cycles. Economic cycles have four distinct stages: recession, early (recovery), middle (mature), … Continue reading
US – Companies are getting older, not just people
Not only is the American population aging, businesses in the U.S. also are growing older. Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at … Continue reading
Unemployment and Education in US – The more, the better
If you have a high school degree, you’re better off; if you’ve started some college, you’re doing better; and if you have a college degree, you’re doing the best of all. So, that’s the proof in the pudding: The more education you have, the better off you are. Now, on the other hand, one thing … Continue reading
US – Evidence demonstrating a skills shortage is not found in wage data
To an economist, the most accessible and persuasive evidence demonstrating a skills shortage should be found in wage data. If employers urgently need workers with skills in short supply, we expect them to offer higher pay to prospective new employees who possess the skills. When workers with crucial skills are offered better wages by expanding … Continue reading
Youth Unemployment – Current high levels will be felt by society for decades
It is clear that youth unemployment leads to many negative outcomes in terms of both material and mental wellbeing. Here, Ronald McQuaid summarises the multiple scarring effects of youth unemployment. Current high levels of youth unemployment will therefore be felt by society for decades, making effective policy responses incredibly important. Being unemployed when young leads to a higher likelihood … Continue reading
US – Long-term unemployment might be falling for the good reason
in the past six months, unemployment has fallen much faster than expected, from 6.7 to 6.1 percent. And as you can see above, 88 percent of that has been due to declining long-term unemployment. Chosen excerpts by Job Market Monitor. Read the whole story at The long-term unemployed might finally be getting jobs – The Washington Post. … Continue reading
US – The short-term unemployment rate has returned to its pre-recession average, so what ?
Because the short-term unemployment rate has returned to its pre-recession average, one important implication—if the hypothesis that the long-term unemployed are largely on the margins of the labor market is correct—is that further declines in short-term unemployment would be expected to be associated with rising inflation and stronger real wage growth. So has this trend … Continue reading
Skills Gap in US – The case of construction workers
Homebuilders have had a difficult time finding labor. This might sound odd considering that 1.5 million construction workers lost their jobs during the recession and only about 80,000 construction jobs have been added back since the recovery began, says Bank of America’s Michelle Meyer. To get a better sense of the health of the construction … Continue reading
Half the world’s population lives in six countries
More than 7.2 billion people exist in the world today with half the global population residing in just six countries, United Nations data show. China and India have some of the biggest populations with more than 1 billion people each. And those numbers are projected to get even bigger, especially in urban areas. The U.N. … Continue reading
IT – Jobs being matched with job seekers less efficiently than in the past
Expanding use of technology that uses ultra-specific criteria to screen and winnow candidates may be perpetuating one of the most unusual features of the slow rebound in the U.S. labor market: Despite a steady increase in openings since the recession ended in 2009, these positions are being matched with job seekers less efficiently than in … Continue reading
Minimum wage for most tipped workers in US – $2.13 an hour (video)
Economic analyst and former tipped worker David Cooper explains how tipped workers get paid. The minimum wage for most tipped workers is only $2.13 an hour. That means the customer is on the hook for paying the bulk of these workers’ wages. via The truth about how tipped workers get paid – YouTube. Related Posts … Continue reading
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