Job Market Monitor
In the News
Lincoln Electric, Cleveland / Profit-Sharing and No Layoffs for 64 Years
Economics correspondent Paul Solman revisits Lincoln Electric, a welding manufacturing company based outside Cleveland, Ohio. Through its use of merit-based profit-sharing and a no-layoff policy, the firm is an unlikely Rust Belt success story that hasn’t laid off anyone for financial reasons since World War II. PAUL SOLMAN: A bright light in Rust Belt America: … Continue reading
Montana / Oil boom affecting educational choices of young people
The energy boom unfolding in the northern Plains states, centered in North Dakota, is quickly spilling over into Montana. It’s a big reason the U.S. is now forecast to be the world’s biggest oil producer within a decade. Not surprisingly, the boom is affecting the economic and educational choices of young people. Reporter Jack Healy is … Continue reading
US / Unemployment Benefits / Lowest level since March 2008
SEASONALLY ADJUSTED DATA In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week’s revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week’s revised average of 368,000. The advance seasonally adjusted insured unemployment … Continue reading
Youth Unemployment / Are American Next ?
It doesn’t take a degree in economics to know that unemployment hurts an economy. Would-be workers spend less because they earn less (or nothing), and a country’s financial workings and GDP suffer as a result. That much is easy to see, but many of unemployment’s effects can’t be predicted by textbooks, like the full extent … Continue reading
China / Tighter regulation on temporary workers conditions
China amended its labor law on Friday to ensure that workers hired through contracting agents are offered the same conditions as full employees, a move meant to tighten a loophole used by many employers to maintain flexible staffing. Contracting agencies have taken off since China implemented the Labor Contract Law in 2008, which stipulates employers … Continue reading
Chicago / Teachers layoffs in 2011 / Union claims black neighborhoods were targeted
The Chicago Board of Education targeted teachers in black neighborhoods for layoffs in 2011, firing African-American teachers at a higher rate than white coworkers, the teacher’s union claims in a class action. Chicago Teachers Union Local 1; the American Federation of Teachers, AFL-CIO, and three teachers sued the Board of Education of the City of … Continue reading
US / Private sector workers outnumbered by people supported by govn’t in 11 states
In 11 states, private sector workers are outnumbered by people who are dependent on the government, including state workers and those who are receiving welfare or pension. The list: New Mexico 1,53 Mississippi 1,49 California 1,39 Alabama 1,10 New York 1,07 Maine 1,07 South Carolina 1,06 Kentucky 1,05 Illinois 1,03 Hawaii 1,02 Ohio 1,00 Adapted … Continue reading
The New Fed Unemployment Target: The story behind
The decision was a testament to what former colleagues call Evans’s ability to build consensus. It also shows how one of the Fed’s 12 regional bank presidents can influence policy that is usually made by the central bank’s Washington-based board of governors, led by Bernanke. “Through the power of his ideas and his powers of … Continue reading
Denmark / Flexicurity Adjustment: Max UI benefits period cut to two years from four years
The Danish model of mixing flexibility for employers, who can hire and fire personnel easily, with social security for workers, was credited with virtually eradicating unemployment in the Nordic nation, before the financial crisis hit.. The system differs markedly from those in neighbouring Sweden and Germany, where terminating an employee is often expensive and cumbersome. … Continue reading
Fiscal Cliff / The Impact on American Jobs
As the year draws to a close, policymakers and the media have their sights fixed on the “fiscal cliff,” the federally mandated set of cuts in spending and increases in taxes scheduled to go into effect at the beginning of 2013. Most economic observers agree that, unchecked, this precipitous drop in government expenditures and spike … Continue reading
Europe / Young Professionals Brain Drain
Tiago Lambuca left Portugal to search for work here as an architect, but the decision to emigrate was about more than earning a wage. “You can find work in Portugal . . . but nothing that offers a career,” the 29-year-old said as he sipped juice in an open-air cafe in the shadow of Sao Paulo’s art … Continue reading
US Job Market / The Year 2012 in Review: Improving at a steady slow pace
Employment continued to improve modestly, unemployment edged down, and wage gains were approximately equal to price inflation in 2012. By the end of the year the recovery from the deep recession in 2008-2009 will be 3½ years old. The health of the job market, like that of the broader economy, is improving at a steady … Continue reading
US / 86% of workers will actively look for a new position in 2013
For the fourth year in a row most workers are expressing their intention to seek new employment elsewhere, according to a new poll of more than 700 U.S. employees by Right Management, the talent and career management expert within ManpowerGroup. Eighty-six percent of the employees polled said they plan to actively look for a new … Continue reading
Best Wishes / A Job For Christmas That Pays
Dear Father Christmas, When I wake up on Christmas morning I will not be looking for any packages under the tree. All I want for Christmas is a job that pays. I value my future more than any gift tied up with paper and ribbon. But is it wrong that I want to feel valued … Continue reading
India / Job creation down by 21% in 2012
Job generation during 2012 saw a 21 per cent decline across various sectors of the economy between January and mid-December, according to an Assocham analysis. “A total of over 5.3 lakh jobs were generated during the aforesaid period across India i.e. over 2.8 lakh jobs in first half of the year and over 2.4 lakh … Continue reading
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