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US Map – 20 cities with less than 4% unemployment
Twenty metropolitan areas with unemployment rates below 4 percent Chosen excerpts by Job Market Monitor. Read the whole story at Map: 20 US cities with less than 4% unemployment – Vox.
Hiring Gender Gap for Business Grads in US – 5 percentage-point in job offer finds BW
Women graduating from college with business degrees are less likely to get early job offers than their male counterparts, according to new data from Bloomberg Businessweek. The data show that 52 percent of female business majors who graduated this year had been offered a job by January, compared with 57 percent of male students. The … Continue reading
Employment Insurance in Canada – Hamilton hit hardest by new rules
Of all the unemployed in Hamilton, just 21.6 per cent of them are receiving employment insurance (EI) benefits, according to a new report that shows Hamilton has been the hardest hit city when it comes to tighter rules to access EI benefits. The numbers, published by Press Progress, an arm of the progressive think-tank, Broadbent … Continue reading
Monetary Policy in US – The Pent-Up Wage Deflation hypothesis
Yellen, speaking at the Fed’s annual symposium in Jackson Hole, Wyoming, last week, again cited low wage growth as evidence that the labor market is weaker than the 6.2 percent unemployment rate suggests and that interest rates should therefore stay low. And then she proceeded to cite reasons to be wary of that proposition. Among … Continue reading
US – 41 percent of American workers do not plan to use all their paid time off in 2014
Americans are overwhelmed—but they aren’t taking the breaks they’ve earned. Nearly three-quarters of workers say they are stressed at work, with one-in-four reporting they are either “very” or “extremely” stressed. It’s no surprise that Americans feel this way. Many workers leave their paid time off (PTO) unused, despite near-universal recognition of the importance and benefits … Continue reading
UK Monetary Policy – Labour market data “give one a better steer about the evolution of spare capacity than output growth alone says Ben Broadbent
Since the financial crisis “labour productivity has stagnated”, this has inevitably made the MPC “less confident about any forecast of productivity growth over the next few years” and meant that “output data are no longer sufficient statistics for inflationary pressure”. Ben argues that labour market data “give one a better steer about the evolution of … Continue reading
US – The job market in one chart
When the Fed commenced rate hiking cycles in 1994, 1999 and 2004, the involuntary part time labor share was materially lower, while the prime age employment ratio was significantly higher. To wit: the prime age employment ratio stood at 78.9%, 81.4% and 79.1% as each of the last three tightening cycles got underway. In July the … Continue reading
UK – A massive fall in self-employed earnings
Where there is no argument, though, is on the massive fall in self-employed earnings. The ONS estimates a 22 percent drop in pay since 2008. This is consistent with the Resolution Foundation’s findings and the HMRC figures I discussed earlier this year. As ONS says, the self-employed may under-state their income in surveys but they have … Continue reading
US – Employers are no longer investing resources in training
Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading
Employment Insurance, June 2014 in Canada – Little changed
Following a decline in May, the number of people receiving regular Employment Insurance (EI) benefits was little changed in June at 501,900. The number of beneficiaries fell notably in Ontario and New Brunswick, while increasing sharply in British Columbia. The change in the number of regular EI beneficiaries reflects various situations, including people becoming beneficiaries, people … Continue reading
Europe – Nobel economists say policy blunders pushing it into depression
An array of Nobel economists have launched a blistering attack on the eurozone’s economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt crisis. “Historians are going to tar and feather Europe’s central bankers,” said Professor Peter Diamond, the world’s leading expert on unemployment. “Young people in Spain … Continue reading
US – Satisfaction with many job aspects returns to high pre-recession levels
In the U.S., 58% of full- or part-time workers are completely satisfied with their job security. This represents an increase from the levels recorded during the aftermath of the Great Recession — from 2009 to 2013 — when roughly 50% of Americans said they were completely satisfied. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
Australia – Unemployment and poor health are linked says the Australian Chamber of Commerce and Industry’s CEO
The Australian Chamber of Commerce and Industry has called on government, business and the wider community to make an extra effort in lifting the participation of marginalised groups into training or work, particularly the young. In a joint address to the National Press Club focussed on the social determinants of health, ACCI CEO, Kate Carnell, … Continue reading
Youth unemployment – Education not providing young people with appropriate skills says Pauline Rose
[Youth unemployment] main cause is that education systems are not providing young people withappropriate skills and this starts at the most basic level. Our 2012 report shows that there are 200m young people who weren’t even completing primary school. Our current report states that 175m young people can’t even read a single sentence, of those … Continue reading
Europe – The recession is really a depression
Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading
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