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Svalbard, Norway – Unemployment is illegal
As governor of Norway’s northernmost territory, Odd Olsen Ingero commands a police force with just six officers and a single detention cell for an area twice the size of New Jersey. Even that is overkill: Nobody has been locked up here in the capital of Svalbard since last summer. And that was for just two … Continue reading
Unemployment rate in Australia – Back to 10-year high
AUSTRALIA’S unemployment rate has bounced back to six per cent, with some economists flagging it could climb higher. THE unemployment rate rose in June from a revised 5.9 per cent for May, largely because of an increase in the number of people looking for work. The jobless rate is now back where it was at … Continue reading
Welfare in UK – Compulsory treatment for depression would come
Hundreds of thousands of benefit claimants face being stripped of their state allowances if they refuse to undergo treatment for anxiety and depression, under radical plans being drawn up by ministers. Existing welfare rules mean it is not possible to require claimants to have treatment, such as therapy or counselling, as a condition of receiving … Continue reading
Canada – Employment was little changed in June, unemployment rate at 7.1%
Employment was little changed in June and the unemployment rate rose by 0.1 percentage points to 7.1% as more people were searching for work. Compared with 12 months earlier, employment increased by 72,000 or 0.4%. This was the lowest year-over-year growth rate since February 2010, when year-over-year employment growth resumed following the 2008-2009 labour market downturn. Chart 1 Employment Chart 2 Unemployment rate via The Daily — Labour Force Survey, June 2014.
The Global Workforce Crisis: crippling labor shortages and chronic labor surpluses
Demographic risk is one of the most insidious of all megatrends threatening the global economy, but its impact throughout the world is neither simultaneous nor uniform. For our research [The Boston Consulting Group], we performed simulations on 25 major economies to quantify the extent of labor shortages and surpluses for 2020 and 2030. Overall, by … Continue reading
US – Hiring is up but wage growth is not
Companies have finally begun taking on staff in consistently greater numbers, half a decade after the end of a deep recession brought on by one of the most punishing financial crises in history. What companies haven’t been doing yet is offering consistently greater pay. That means an urge to start bringing forward expectations for when the … Continue reading
US – Near 6 out of ten of 2014′s new jobs pay higher than average
The U.S. is not just adding jobs at the fastest pace since the end of the Great Recession. Hiring is also more spread out and the new jobs pay better than in years past. As the chart below shows, more than half the jobs the economy has added so far this year are in positions … Continue reading
Quit Rate in US – At highest rate since 2009 downturn
In the darkest days of the last recession, few among those who had jobs were able, willing or bold enough to quit them. That is changing, however, according to a statistic called the national “quit rate,” which some might call the “Take this job and shove it” index. The figure shows that the percentage of … Continue reading
US – The Employment Situation in June as seen by The White House
KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF LABOR STATISTICS 1. The private sector has added 9.7 million jobs over 52 straight months of job growth. Today we learned that total nonfarm payroll employment rose by 288,000 in June, mainly reflecting a 262,000 increase in private employment, which is above the 203,000 per month … Continue reading
June US Job Report – Total nonfarm payroll employment increased by 288,000 and unemployment rate declined to 6.1 percent, the lowest since September 2008
Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by employment growth in professional and businessservices, retail trade, food services and drinking places, and health care. Household Survey Data In June, the unemployment rate … Continue reading
US – College degree or vocational education ?
The U.S. Bureau of Labor Statistics estimates that only 27 percent of jobs in the U.S. economy currently require a college degree. By comparison, the U.S. Census Bureau reports that 47 percent of workers today have an associate degree or higher. The BLS projects that the proportion of jobs requiring a college degree will barely … Continue reading
Youth in US – 5.8 million young people are neither in school nor working
It makes some sense that young people might work less than their older counterparts. They are figuring out their lives, going in and out of school and making more short-term plans. But a whopping 5.8 million young people are neither in school nor working. It is “a completely different situation than weve seen in the … Continue reading
US – Private-sector employment increased by 281,000 says ADP Job Report for June 2014
Private-sector employment increased by 281,000 from May to June, on a seasonally adjusted basis. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report – June 2014 | NER.
US – The net gain in the number of employed since 2000 has gone to immigrants
Since 2000 all of the net gain in the number of working-age (16 to 65) people holding a job has gone to immigrants (legal and illegal). This is remarkable given that native-born Americans accounted for two-thirds of the growth in the total working-age population. Though there has been some recovery from the Great Recession, there … Continue reading
Car Industry in UK – 44,000 more jobs to 750,000
Britain’s booming automotive industry now employs three quarters of a million people after adding 44,000 jobs last year. Investment by manufacturers, demand for new models and companies in the supply chain bringing work home – known as “reshoring” – helped drive the increase, according to the data from trade body the Society of Motor Manufacturers … Continue reading
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