Job Market Monitor
Academic Literature
Labour Market Deregulation – Positively related to current account surpluses research finds
In theory, labour market deregulation has two effects on an open economy’s current account balances. To the extent that it fosters future growth, it decreases current savings by consumption-smoothing households that anticipate an increase in their future income, and tends to make the current account more negative. But by making labour income flows more uncertain, … Continue reading
Vocational Education – Measuring the Specificity of Occupational Training Curricula
In this paper we analyze the training curricula of VET (vocational education and training) occupations using detailed data on learned skills from official trainings regulations. We explore how differences in the skill bundles of occupational curricula can be measured and how such differences affect graduates’ long-term labor market outcomes. Based on Lazear’s skill weights approach, … Continue reading
Vocational Education – Does more specific education lead to wage penalties ? No study finds
We analyze horizontal mismatch in Switzerland defined as a mismatch between the type of skills acquired by students and the skills required for their job. We investigate the argument in the literature that the more specific an education system is, the higher are the wage penalties due to horizontal mismatch. Switzerland is an ideal case … Continue reading
EU – Labor force projections up to 2053 by level of educational attainment
A significant amount of research has been published on the potential economic consequences of population aging in developed economies. One topic that has received repeated attention is the expected shrinkage in absolute and relative terms of the working population between the ages 15 and 65. Concurrently, the share of people above the age of 65 … Continue reading
Displaced Workers – Why earnings fall
After being displaced from their jobs, workers experience reduced earnings for many years and are at greater risks of other problems as well. The ills suffered by displaced workers motivated several recent expansions of government programs, including the unemployment insurance system, and have spurred calls for wage insurance that would provide longer-run earnings replacement. However, … Continue reading
US – Workers were less secure about retaining their jobs in 2010 and 2012 than in 1977 and 1978 BLS finds
Workers were less secure about retaining their jobs in 2010 and 2012 than in 1977 and 1978; they also were less secure about the ease with which they would find a comparable job if they were separated. As might be expected, the two measures of job security track unemployment, although other factors certainly play a … Continue reading
Canada’s Labour Force Survey (LFS) – The 2015 revisions
The Labour Force Survey (LFS) provides estimates of employment and unemployment, which are among the most timely and important measures of performance of the Canadian economy. With the release of the survey results only 10 days after the completion of data collection, the LFS estimates are the first of the major monthly economic data series to be … Continue reading
Unemployment Insurance in US – Cut in benefit duration accounted for about 61 percent of the aggregate employment growth in 2014 NBER’s study finds
Our objective in this paper is to assess the effect of unemployment benefit extensions on employment. Measuring the magnitude of this effect is manifestly important for understanding the economic consequences of this widely used policy instrument. Yet, the existing literature provides little information on the size, let alone the sign of this effect. In the … Continue reading
$15 minimum Wage in US – The cost increases resulting from these measures could be absorbed by the fast-food industry not only without causing employment losses study finds
Over the past few years, there has been a growing movement in the United States to substantially raise the federal minimum wage, which has been fixed at $7.25 per hour since 2009. One widely embraced goal within this movement is to raise the federal minimum to $15 an hour. This would constitute a 107 percent … Continue reading
Skills Gap in US – Skill shortages are not a significant factor impeding current employment growth research finds
Consistent with the view that much of current unemployment must be structural rather than cyclical in nature, even as unemployment has been slow to fall from its recent high level, a number of reports have cited short- ages of skilled workers as a significant barrier to business expansion. A 2011 report by Deloitte and the … Continue reading
Education in US – The earning gap has grown more for those who have earned a post-graduate degree Federal Reserve Bank San Francisco finds
The earnings gap between people with a college degree and those with no education beyond high school has been growing since the late 1970s. Since 2000, however, the gap has grown more for those who have earned a post-graduate degree as well. The divergence between workers with college degrees and those with graduate degrees may … Continue reading
US – Unemployed job losers have low rates of transition out of the labor force until their duration of unemployment ends FRB finds
Economists often expect unemployment insurance (UI) benefits to elevate unemployment rates because recipients may choose to remain unemployed—instead of accepting jobs or dropping out of the labor force—in order to continue receiving benefits. Researchers have attempted to quantify the effect of UI benefit availability on the unemployed ranks and on the U.S. unemployment rate. The … Continue reading
Highly-Skilled Migration in US – LinkedIn data show a decrease, from 2000 to 2012, in the percentage of professional migrants, worldwide
There is a large body of literature, mainly in the disciplines of sociology, demography, economics, and geography, about international migration, and, more specifically, highly-skilled migration. It is beyond the scope of this article to discuss theories of migration and the rich and healthy debate about them. With this article we emphasize an outstanding problem in … Continue reading
Finding a Job in US – A marked improvement in the full-time finding rate over the last year Atlanta FED finds
if you were an unemployed prime-age individual (25–54 years old) or working PTER one year ago, what are you doing today? Have your chances of becoming employed full-time improved? Chart 1 shows the distribution of labor market outcomes of prime-age workers who were PTER one year earlier. Chart 2 shows the distribution of outcomes for … Continue reading
STEM in Italy – Increased access to higher education failed to raise incomes research finds
Governments sometimes promote reforms that increase access to education for a large share of the population. These reforms may lower the returns to education by altering returns to skills, education quality, and peer effects. This column examines a 1961 Italian reform that increased enrolment in university STEM majors among students who had previously been denied … Continue reading
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