A Closer Look

GDP – How do the different economies of the world compare

Just four countries-the U.S., China, Japan, and Germany-make up over half of the world’s economic output by gross domestic product (GDP) in nominal terms. In fact, the GDP of the U.S. alone is greater than the combined GDP of 170 countries. How do the different economies of the world compare? In this visualization we look … Continue reading →

UI in US – States are using COVID relief funds to pay off unemployment insurance debt

Because the COVID-19 pandemic and ensuing recession led to skyrocketing unemployment rates in early 2020, 23 states were forced to take out federal loans to continue paying out unemployment insurance (UI) benefits. While interest was initially waived on these loans, these debts started to collect interest after Labor Day of 2021. In recent months, many … Continue reading →

Ageism – Hiring managers perceived only about 15 to 18 percent of the 45-plus candidates they saw to be a fit

New research quantifies the struggles that midcareer workers—those 45 and over—worldwide face and suggests possible interventions to level the playing field. Roberta Fusaro: Just recently, you and your colleagues at Generation released a report that looks at the plight of workers age 45 and older. The findings suggest that people in this cohort are struggling, … Continue reading →

Minimum Wage in Canada – Who earns it (infographic)

Source: who-earns-the-minimum-wage-in-canada-infographic-canada.jpg | Fraser Institute Over the past decade all Canadian provinces have raised their real (inflation-adjusted) minimum wage. The size of these increases has varied considerably from place to place. The four largest provinces implemented particularly large increases. These ranged from 20.2 percent in Quebec to 46.4 percent in Alberta. One of the most … Continue reading →

The COVID Retirement Boom – Over 3 million excess retirements says St-Louis Fed

The labor force participation rate1 registered its largest drop on record in 2020, falling from 63.2 percent in the fourth quarter of 2019 to 60.8 percent in the second quarter of 2020.2 By the second quarter of 2021, the rate had recovered slightly, to 61.6 percent, but was still 1.6 percentage points below its pre-pandemic … Continue reading →

COVID-19, Jobs Lost,  Recruiting and Retraining – A survey of knowledge workers across US, 4 Australia, Germany, Japan, France, and the UK

The past year has reshaped the global talent market Chosen excerpts by Job Market Monitor. Read the whole story @ Investing to Win Talent

Apprenticeships – The real costs and benefits (Video)

Turning recommendations into action to improve apprenticeships for employers and learners. Following the publication of its report, The St Martin’s Group, in partnership with City & Guilds and NCFE held an event to discuss the key insights from the report and explore how the recommendations could be delivered to drive greater update and improvements in … Continue reading →

Skills – What are they ? (video)

Education of Immigrants in EU – One third have a degree

An important dimension of migrant integration into host societies is the level of educational attainment. In 2020, just over one third (35.6%) adult migrants (aged 25-54) who were born in another EU Member State had a tertiary level of education. This rate was lower for migrants who were born outside the EU (29.6%). By contrast, … Continue reading →

Unemployed during Covid in US – Most have considered changing occupations

About half of U.S. adults who are currently unemployed and are looking for a job are pessimistic about their prospects for future employment. A new Pew Research Center survey finds that about half of U.S. adults who are currently unemployed, furloughed or temporarily laid off and are looking for a job are pessimistic about their … Continue reading →

An economy-wide labor shortage in US ?

Monthly job-growth over the past 3 months has averaged 540,000, a pace that would see the economy hit pre-covid measures of labor market health by the end of 2022. While recovery can’t come soon enough for U.S. workers, if we do hit this target of pre-COVID labor market health by the end of 2022 it … Continue reading →

UI Claims in US (as of January 23, 2021) – 18 million above where they were a year ago

Figure A shows continuing claims in all programs over time (the latest data are for January 23rd). Continuing claims are currently more than 18 million above where they were a year ago. The large increase in continuing claims in the most recent data was due to increases in PUA and PEUC. This is likely workers … Continue reading →

Workforce Training for Job Recovery – An Opportunity Account

In this analysis, we examine the impacts of the pandemic recession across different dimensions, including employment, labor force participation, and the need to switch industries. This analysis provides texture and evidence to the emerging understanding that women and people of color, working in the service industry, have been the most negatively affected. The challenge of … Continue reading →

Canada Emergency Wage Subsidy (CEWS) – About $188,000 per job per year

In the Trudeau government’s recent mini-budget, Finance Minister Chrystia Freeland threw so many large numbers at us that Canadians might be forgiven for missing some important announcements. Here’s one number to bear in mind: $99.6 billion. That’s the new projected cost of the Canada Emergency Wage Subsidy (CEWS) through June. CEWS is now the largest … Continue reading →

Covid and Young Adults in US – 52% are living with their parents

The share of 18- to 29-year-olds living with their parents has become a majority since U.S. coronavirus cases began spreading early this year. Chosen excerpts by Job Market Monitor. Read the whole story @ 52% of young adults in US are living with their parents amid COVID-19 | Pew Research Center