Job Market Monitor
A Closer Look
UK / Youth unemployment and the growing failure of education
Unemployment is up by 0.2 per cent to 7.9 per cent. Long term unemployment is on the rise. Youth unemployment is up again, this time by 20,000. Any semblance of a jobs recovery is only visible in low wage sectors feeding into a clear wage squeeze, with the slowest growth in earnings since 2009. A … Continue reading
US / Can something be done to get Good Jobs ?
Economists are of many minds on the question of whether government policies can reverse negative trends. David Autor, an economist at M.I.T., argued in an email to The Times that “we’re not going to rapidly reverse the tide with any conceivable policy that a mainstream political party or even a mainstream economist would adopt.” Autor … Continue reading
Global Jobs Gap / Productive jobs for the developing world (video)
via Wanted: Productive jobs for the developing world – YouTube.
US / unemployment rate for the 2011 cohort of recent college graduates was 12.6 percent
Every year, thousands of recent graduates of colleges and universities across the United States enter the labor force with newly minted degrees and high hopes about their employment prospects.1 In October 2011, 74.5 percent of the 1.3 million 2011 recent college graduates were employed, according to data from the Current Population Survey (CPS). The unemployment … Continue reading
Higher Education / Gender equality must be made a global priority
Around one in five UK university professors are female. That’s better than 3%, which was the figure in 1989. But it’s nowhere near parity – and in many parts of the world, the number of women working at the top level of academia or in senior university management positions is far worse. The failure of … Continue reading
US Skills Gap / What if these assumptions are all wrong?
It is conventional wisdom that the United States is suffering from a severe skills shortage, for which low-performing public schools and inadequate teachers must shoulder part of the blame (see here and here, for example). Employers complain that they cannot fill open slots because there are no Americans skilled enough to fill them, while pundits … Continue reading
US / Unemployment / The Economic Nightmare is not over
The broadest measure of unemployment/underemployment, which is the “SGS Alternate Unemployment Rate” published by Shadow Government Statistics, remained at 23.0% in January, its highest level ever. This measure was at 17.6% when Bush 43 left office. Also last month, America moved another 186,000 jobs away from full employment, to a total of 15.0 million. This … Continue reading
Teachers / Jobs increasingly stressful
As a high-school teacher in the West Island, I read with great interest the Feb. 2 Gazette article by Janet Bagnall on why teachers are leaving the profession (“Study why teachers are leaving field: experts”). Having attained the benchmark of five years of teaching experience, I admit to occasionally contemplating leaving the field myself. Don’t … Continue reading
China / Ageing / Reserve army of peasants looking for work peaked in 2010
We can now discern more or less when the catch-up growth miracle will sputter out. Another seven years or so – enough to bouy global coal, crude, and copper prices for a while – but then it will all be over. China’s demographic dividend will be exhausted. Beijing revealed last week that the country’s working … Continue reading
Western world’s policy elite somehow decided en masse that unemployment was no longer a crucial concern writes Krugman
Three years ago, a terrible thing happened to economic policy. Although the worst of the financial crisis was over, economies on both sides of the Atlantic remained deeply depressed, with very high unemployment. Yet the Western world’s policy elite somehow decided en masse that unemployment was no longer a crucial concern, and that reducing budget … Continue reading
US / The 40 Million Immigrants, Including the 11 Million Unauthorized
The nation’s total immigrant population reached a record 40.4 million in 2011, according to an analysis of Census Bureau data by the Pew Hispanic Center, a project of the Pew Research Center. Over the last decade, the number of immigrants in the U.S. has steadily grown. Since 2007 alone, the number of immigrants living in … Continue reading
US / No occupation spared from higher unemployment
The figure below shows unemployment rates by occupation in 2007 and 2012. While some occupations have higher unemployment rates than others, there is a job shortage in all occupational categories relative to before the recession started. Legal occupations and food preparation and serving occupations are doing the best with respect to where they were before … Continue reading
Women / Secretary: still the top job
What’s the most common job for American women? The same as it was in the 1950s: secretary. About 4 million workers in the United States fell under the category of “secretaries and administrative assistants” between 2006 and 2010, and 96% of them were women, according to the U.S. Census. How secretary became women’s work The rise … Continue reading
Canada / Youth unemployment to cost $23 billion
The rise in youth unemployment in Canada during the recent recession will cost Canadian youth $23.1 billion in lost wages over the next 18 years, according to a new report by TD Economics. The unemployment rate for Canadians aged 15-24 was 11 per cent in July of 2008, peaking at 16.4 per cent in July … Continue reading
US / In decline?
The American Century is dead. Long live the next American Century. The subtext of political debate these days is that the United States is in decline — a proposition often portrayed as self-evident. The economy lacks dynamism; unemployment near 8 percent remains at recession levels. The president and his Republican critics barely talk to each … Continue reading
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