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US / The Jobs Of The Future : The myths of the “knowledge economy” and high-paying jobs
We’re all talking about the “jobs of the future” and “winning the future” and transitioning to a “knowledge economy.” Since predictions are hard, especially about the future, it’s a good idea to look at some data. And it looks like we have some of it: the BLS has a handy chart of the fastest-growing jobs … Continue reading
Sequestration / Unemployment Benefit cut affect about 1.8 million workers
Federally funded benefits paid to the long-term unemployed were lowered by 10.7 percent starting March 31 as part of reductions to planned government spending called sequestration. Benefit cuts will affect about 1.8 million workers, based on Labor Department data, and add to the drag on consumer spending from a payroll tax increase that took effect … Continue reading
The Federal Reserve Act calls for ‘maximum employment’, not ‘minimum unemployment’
the Federal Reserve Act calls for ‘maximum employment’, not ‘minimum unemployment’. This distinction did not matter much in the past, but it is becoming increasingly important. The ‘participation gap’ remains as big a drag on growth as ‘unemployment’ and we, like Goldman, would expect the Fed to ‘change’ its target for their outcome-based guidance (to … Continue reading
US / The number of people getting federal disability checks has grown for 192 straight months – or 16 years
For for 192 straight months -or 16 years – the number of people getting federal disability checks has grown. That’s staggering enough but it seems much of the country is just now waking up to these skyrocketing numbers thanks in large part to a stunning investigative piece for NPR titled “Unfit for Work” which outlined … Continue reading
When Will The Unemployment Rate end the Fed’s Easing Measures ?
The Federal Reserve’s is expected to extend its easing measures until the job market improves “substantially”, the stated goal is a decline of the unemployment rate to 6.5%. One can use the unemployment rate model to provide an estimate of the future unemployment rate (UER). This model suggests that the unemployment rate will decline to … Continue reading
Germany / Shortage of skilled labour is one of employers biggest problems
“It is getting very difficult to find qualified people,” says Mr. Traublinger, whose family company employs 150 people besides Mr. Henares. “Unemployment is so low – there just aren’t the qualified people on the market. Everyone wants to hold on to the people they have.” Even amid the euro zone debt crisis, German employers say … Continue reading
Shanghai / Grads struggle to find good job
A majority of university and college students set to graduate in the city next month are still looking for a job due to the grim employment situation. Only 29 percent of 178,000 students who are to graduate this June have signed an offer, been admitted to postgraduate studies or decided to study abroad as of … Continue reading
US Labor Shortages / There’s only one problem with this story: It’s mostly fiction
Are we missing a couple million jobs? These would be jobs that exist but lack workers to fill them. The notion that the recovery is being hobbled by too few skilled workers is seductive. It might explain today’s stubbornly high unemployment and why aggressive government policies to promote recovery have been so ineffective. Low interest … Continue reading
Portugal / To lift retirement age and working hours
Lisbon plans to increase the retirement age and make public sector employees work an extra hour daily as part of a package of new spending cuts needed to avoid bankruptcy and remain in the euro. Lisbon plans to raise the retirement age and make public sector employees work an extra hour daily as part of … Continue reading
US / Surpassing much of Europe in youth unemployment
The United States has quietly surpassed much of Europe in the percentage of young adults without jobs. It’s not just Europe, either. Over the last 12 years, the United States has gone from having the highest share of employed 25- to 34-year-olds among large, wealthy economies to having among the lowest. The grim shift — … Continue reading
US / Service dependent economy delays job recovery
The recession was the deepest one since the Great Depression. But slow job recoveries have become a defining trend of the past three recessions. It took the economy 37 months from the end of the 2001 recession to add back the jobs it lost. For the recession before that, which ended in 1991, it took … Continue reading
US Long-Term Unemployment / Why so many people have been out of work for so long
Democrats generally point to the anemic recovery, in which weak demand for goods and services results in less hiring. The cyclical nature of unemployment, they say, can be addressed with more government stimulus. Republicans tend to focus more on structural problems, in which the education and experience levels of the unemployed don’t match what employers … Continue reading
Sequestration / No college grads need apply
At a time when governments at all levels are trimming staffs, college graduates hoping to land public-sector jobs are facing another hurdle: sequestration. Career counselors and recruiting experts say the federal spending cuts that went into effect March 1 are causing several federal agencies—many of which are having to furlough employees as a result of … Continue reading
SA / Unemployment rate to 25.2%
The number of unemployed increased by 100 000 people to 4.6 million between the fourth quarter of 2012 and the first quarter of 2013, Statistics SA (StatsSA) said on Monday. This took the country’s official unemployment to 25.2% from 24.9% in the fourth quarter of 2012, StatsSA said in its Quarterly Labour Force Survey (QLFS). … Continue reading
Oracle / Layoffs announced to employees
Sources are telling us that some Oracle employees got pink slips on Friday. All of them are from Sun Microsystems’ hardware groups. Friday’s layoffs hit employees in the “legacy hardware” units from Sun, particularly salespeople and some managers, our source tells us. Details are sketchy but like previous Oracle layoffs, we’re estimating the layoff is tiny and … Continue reading
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