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Job Report in Europe, July 2019 – Unemployment at 7.5% in euro area with 3.195 million young persons unemployed in EU28
The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in July 2019, stable compared with June 2019 and down from 8.1% in July 2018. This remains the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in July 2019, stable compared with June 2019 and down from 6.8% … Continue reading
How to Tell if a Recession is Coming – A measure that focuses on the unemployment rate
Experts from the Hamilton Project observe that two traditional methods of noting when recessions have started—waiting for an announcement from the National Bureau of Economic Research or observing GDP to decline over two consecutive quarters—“are appropriate for historical analysis but too slow to be useful for policy.” Instead, they explain a measure developed by economist … Continue reading
Industry-Driven Apprenticeship in US – A true alternative with a two-track system for skills standards
Changing technology, growing skills mismatches and weak wage growth are drawing attention to the need for more sophisticated, more relevant career and technical skills, especially for workers who lack a four-year college degree. Among the most effective ways to raise skill levels and prepare workers for rewarding careers is with apprenticeships that combine classroom learning … Continue reading
Job Report in US revised – Employers added a half-million fewer jobs in 2018 and early 2019 than previously reported
Employers added a half-million fewer jobs in 2018 and early 2019 than previously reported, the Labor Department said Wednesday. The revisions, which are preliminary, are part of an annual process in which survey-based estimates are brought into alignment with more definitive data from state unemployment insurance records. Wednesday’s revision covers the period through March; final … Continue reading
Area of Study and Earnings – Engineering, construction and business and law have a strong impact but not arts and media
In this paper, we investigate the relationship between labour market outcomes and vocational qualifications disaggregated by subject area of study. Using individuals holding vocational qualifications in any subject at the level below as their highest level of achievement in the Regulated Qualifications Framework (RQF) as the counterfactual group, we find that gaining vocational qualifications in … Continue reading
Higher Education in US – Only half of American adults think colleges and universities are having a positive effect
Americans see value in higher education – whether they graduated from college or not. Most say a college degree is important, if not essential, in helping a young person succeed in the world, and college graduates themselves say their degree helped them grow and develop the skills they needed for the workplace. While fewer than half … Continue reading
Training – Workers today spend an average 505 hours a year learning: 484 informally and 21 formally
Research reveals that workers today spend an average 505 hours a year learning: 484 informally and 21 formally. So although a limited training budget might mean scaling back on the hours spent in seminars, classes, and workshops, that doesn’t mean employees can’t learn in other ways. Informal learning empowers employees to go out into the world … Continue reading
Recession in US – Most NABE economists expect it by the end of 2021
“Survey respondents indicate that the expansion will be extended by the shift in monetary policy, and most expect the next economic recession will occur later than anticipated when the February policy survey was conducted,” said NABE President Constance Hunter, CBE, chief economist, KPMG. “Of the 98% of respondents who believe a recession will come after … Continue reading
Upgrading Skills in US – A more comprehensive approach is required
To upgrade the skills of Americans at greatest risk from automation, a more comprehensive approach is required — one that’s backed by government. To start, states and the federal government should boost tax credits to encourage small and medium-sized businesses to invest more in retraining low-skilled workers. States should bolster workforce development boards that help … Continue reading
Future of Work – Voices of Youth
What are young people’s hopes and vision for the Future of Work? Students from the Graduate Institute of International and Development Studies, in Geneva, share their thoughts. Chosen excerpts by Job Market Monitor. Read the whole story at International Youth Day: Voices of Youth on the Future of Work
The Phillips Curve – Yes, there is a trade-off
The Phillips curve is unstable and, therefore, an imperfect guide for policy. But unstable does not mean nonexistent, and imperfect does not mean useless. As long as the tools of monetary policy influence both inflation and unemployment, monetary policymakers must be cognizant of the trade-off. Mr. Powell was smart to acknowledge during his congressional hearing … Continue reading
Job Report in Canada, July 2019 – Employment was little changed for the third consecutive month and unemployment up to 5.7%
Employment was little changed for the third consecutive month in July. The unemployment rate increased by 0.2 percentage points to 5.7% as more people searched for work. Compared with July 2018, employment was up by 353,000 (+1.9%), driven by gains in full-time work (+326,000 or +2.2%). Over the same period, hours worked increased by 0.7%. To explore the most recent results from the … Continue reading
Job Report in US, July 2019 – Employment rose by 164,000 and unemployment unchanged at 3.7
Total nonfarm payroll employment rose by 164,000 in July, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and technical services, health care, social assistance, and financial activities. Household Survey Data The unemployment rate held at 3.7 percent in July, and … Continue reading
Job Report in Europe, June 2019 – Euro area unemployment at 7.5%, EU28 at 6.3% with 3.176 million young unemployed
The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in June 2019, down from 7.6% in May 2019 and from 8.2% in June 2018. This is the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in June 2019, stable compared with May 2019 and down from 6.8% … Continue reading
Career and Technical Education and Local Labor Markets in US – How aligned ?
The recent reauthorization of the Carl D. Perkins Career and Technical Education Act—the principal federal education program supporting career and technical education (CTE)—expressly aims to “align workforce skills with labor market needs.” How Aligned is Career and Technical Education to Local Labor Markets?, co-authored by Pepperdine University associate professor Cameron Sublett and Fordham Institute senior research … Continue reading
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