Job Market Monitor
A Closer Look
Australia | Unemployment rate at 4.9% : 12-month low as people stop looking for a job
TREND ESTIMATES (MONTHLY CHANGE) Employment increased to 11,484,200. Unemployment decreased to 614,200. Unemployment rate steady at 5.1% from a revised March 2012 rate. Participation rate steady at 65.2% from a revised March 2012 rate. Aggregate monthly hours worked increased to 1,624.1 million hours. SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) Employment increased 15,500 (0.1%) to 11,501,000. Full-time … Continue reading
The overlapping structural problems
There are several overlapping structural problems writes David Brooks on NYTimes.com. The country is divided when different people take different sides in a debate. The country is really divided when different people are having entirely different debates. That’s what’s happening on economic policy. Many people on the left are having a one-sided debate about how to deal … Continue reading
Focus on jobs, not the budget deficit says Krugman
Paul Krugman has a simple message for U.S. policymakers: Forget about the country’s huge budget deficit. It can be fixed over the next decade. Focus instead on the much more immediate problem of mass unemployment. “It’s not true we’re going over a cliff on fiscal problems,” the Nobel Prize-winning economist said in an interview with … Continue reading
University of Miami medical school | Up to 800 layoffs
The University of Miami medical school plans to lay off up to 800 workers in administration and research to deal with reduced government and private funding Up to 800 people will lose their jobs under a major restructuring at the University of Miami medical school, President Donna Shalala said Tuesday. State budget cuts, less research … Continue reading
Australia | 4200 goverment jobs slashed
Thousands of Canberra-based public servants will lose their jobs to help get the economy back in the black, under a federal budget that pushes a new round of middle-class welfare initiatives. In the biggest attack on the federal bureaucracy since the late 1990s, when John Howard came to power and put the ACT into recession, … Continue reading
Job Statistics | A 200,000 gap makes the Job Report meaningless
Last Fridays’s Bureau of Labor Statistics release said 115,000 new jobs were created in April. However, if you read the footnotes, what Friday’s report really says was that the BLS is 90% certain that April new jobs were between 15,000 and 215,000. Mind you, the BLS did not say 100% only 90% certain. That means … Continue reading
Wind Industry | 8,600 jobs in UK
8,600 jobs were provided by the onshore wind industry in 2011, with £548 million added to the UK economy, according to a joint study published today by RenewableUK and the Department for Energy and Climate Change (DECC). The report takes 18 case studies of wind farms of varying sizes across the UK ranging from 0.5MW … Continue reading
China education system is overtaking many Western countries
China’s results in international education tests – which have never been published – are “remarkable”, says Andreas Schleicher, responsible for the highly-influential Pisa tests. These tests, held every three years by the Organisation for Economic Co-operation and Development, measure pupils’ skills in reading, numeracy and science. Pisa tests – the Programme for International Student Assessment … Continue reading
Unemployment rate would be 7.1% without government job cuts
As investment in training of the long-term unemployed is decreasing with budget constraints, everything seems to be made to pump more long-term unemploymed in the reserve army we wrote in Disinvestment in Education In North America. The WSJ takes a look at what would happen in the U.S. if there were no Government Cuts. The unemployment rate … Continue reading
The real structural problem is in our political system writes Krugman
Many pundits assert that the U.S. economy has big structural problems that will prevent any quick recovery. All the evidence, however, points to a simple lack of demand, which could and should be cured very quickly through a combination of fiscal and monetary stimulus. No, the real structural problem is in our political system, which … Continue reading
Unemployment | The psychological scars
When the long-term unemployed decide to enter retirement — which changes their social status but nothing else about their situation — their sense of well-being shoots up, while those who are employed don’t experience the same effect. This suggests just how much the psychological burden — and perhaps, the social stigma — of being unemployed … Continue reading
It will take until 2020 to close the Job Gap
U.S. jobs growth may have picked up earlier this year, offering the millions of unemployed hope that better days are ahead. But once again, the government’s monthly unemployment report comes with disappointing news. In April, the nation’s employers created 115,000 positions, after adding 154,000 in March, the Labor Department reported Friday. This was less than … Continue reading
Declining Participation Rate | Any bounceback in the participation rate will be fairly small
The Chart Below from Calculated Risk shows the actual annual participation rate and two forecasts based on changes in demographics. Now that the leading edge of the baby boom generation is starting to retire, the participation rate is declining and will probably continue to decline for the next 20 years. Note: the yellow line is … Continue reading
Unemployment Rate Falling No Matter How You Measure It says DOL
No matter how one measures it, the unemployment rate has been steadily falling. In fact, since August of last year, the headline unemployment rate has dropped by one percentage point from 9.1% to 8.1%, and we know that about 70% of that drop is due to people finding work and not due to people leaving … Continue reading
Colleges Majors With Low Unemployment – Yahoo! Education
if you’re thinking of going back to school, here are some degrees you may want to consider. Degree #1 – Health Care Administration Degree #2 – Criminal Justice Degree #3 – Accounting Degree #4 – Marketing and Communications Degree #5 – Information Technology (IT). Source: Read More @ Colleges Majors With Low Unemployment – Yahoo! Education.
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