Job Market Monitor
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Canada – Average minimum wage to average hourly earnings increased from 41% in 2005 to 46% in 2013
In 2013, the average minimum wage in Canada amounted to $10.14 per hour. The 1975 minimum wage translated into 2013 dollars (that is, the real minimum wage) was almost identical at $10.13. In this release, the real minimum wage for Canada is a weighted average of the provincial minimum wages, expressed in 2013 constant dollars to account for inflation. Although the real minimum … Continue reading
UK – Employees aged 21 in 1995 earned 40% more after adjusting for inflation by the age of 39 than those aged 21 in 1975 did up to the age of 39
The report UK Wages Over the Past Four Decades – 2014 by ONS looks at changes in earnings in the UK over the past forty years. It makes use of distributional and cohort analysis to assess the impact of the recession on real earnings as well as looking at the impact of the introduction of the national … Continue reading
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 – Of 4 million job openings posted online, 2 million are for college graduates New Georgetown report finds
More than 80 percent of job openings for workers with a bachelor’s degree or better are posted online, compared to less than 50 percent of job openings for workers with less education*, according to a new report from the Georgetown University Center on Education and the Workforce. The report analyzes the demand for college talent … Continue reading
The “graying” of the planet – The case of 30 of the world’s capitals
What do urban people care about most?What do talented professionals in their most productive working years care about most? What are the qualities that cities need in order to continue building prosperity? What about the increasing proportion of older citizens as we live longer or slow our rate of natural population growth? Does a rising … Continue reading
Foreign-Owned Establishments in US Metro Areas – They employ some 5.6 million
Foreign-owned U.S. affiliates directly employ some 5.6 million workers spread across every sector of the economy. The number and share of U.S. workers employed in FOEs increased steadily through the 1990s before peaking in 2000 and then stagnating. The nation’s largest metro areas contain nearly three-quarters of all jobs in FOEs. Fully 74 percent of … Continue reading
UK – An additional 8.7 million want to work flexibly right now
Flexible working is now an everyday part of life in Britain. 8 million people work part time (30 hours a week or less) and around 4 million usually work from home. For the first time, Timewise can reveal that an additional 8.7 million UK-based full time workers want to work flexibly right now (whether part … Continue reading
US – The 2009 Recovery Act directly created and saved jobs primarily in government finds St. Louis Fed
Over one-half of the fiscal spending component of the American Recovery and Reinvestment Act ARRA; i.e., the Recovery Act was allocated via grants, loans, and contracts. Businesses, nonprofits, and nonfederal government agencies that received this type of stimulus funding were required to report the number of jobs directly created and saved as a result of … Continue reading
Millennials – The best-educated generation in US history but overall they don’t earn more
A demographic cohort is never monolithic, but the group that recently entered the labor force had one trait in common: they watched as the Great Recession dramatically reshaped the landscape of employment, housing, and, in general, their expectations. How profoundly will the economic downturn and its associated effects mark this generation? On top of the … Continue reading
Poverty in India – 56 percent of Indians (680 million) lack the means to meet their basic needs finds McKinsey
A new benchmark called the Empowerment Line, developed by the McKinsey Global Institute, aims to create a new and more holistic policy framework for poverty reduction. It calculates the cost for an Indian household to attain the basics and then compares these benchmarks to actual consumption data to measure needs that are going unmet. The … Continue reading
Immigrants in US – Those who came more than 30 years ago were the most likely to speak only English at home Census finds
Those who came to live in the United States more than 30 years ago were the most likely to speak only English at home. The foreign born who have lived in the United States for longer periods were much more likely to speak only English at home than recent entrants to the country (Figure 7). … Continue reading
Higher Education and Employability in Europe – Using labour market information systematically in policy planning is relatively rare report says
Besides a few exceptions (Bulgaria, Croatia, Portugal and Liechtenstein), labour market forecasting exists at national and/or regional levels in most European countries (14). As Figure 4.2 shows, labour market forecasts are conducted in an ad hoc manner in 10 countries, while there is a regular, established system in 13 countries. In Lithuania, a regular labour … Continue reading
Skills Gap in US Manufacturing – 75 percent of manufacturers surveyed report a moderate to severe shortage of skilled resources
A new Accenture manufacturing and skills study, completed in collaboration with The Manufacturing Institute, looks at the skills shortage in the US manufacturing industry and what actions manufacturing companies can take to address this impediment to growth. Our study includes survey responses from more than 300 executives from a diverse range of US manufacturing companies. … Continue reading
Migrants accounted for 47% of the increase in the workforce in the United States and 70% in Europe over the past ten years says OECD
The economic impact of migration has been intensively studied but is still often driven by ill-informed perceptions, which, in turn, can lead to public antagonism towards migration. These negative views risk jeopardising efforts to adapt migration policies to the new economic and demographic challenges facing many countries. This edition of Migration Policy Debates looks at … Continue reading
Global unemployment hit 200mn last year says ILO, and it will worsen
Almost 200 million people around the world were unemployed last year, a report by the United Nations’ labour agency says. A report by the International Labour Organisation says latest statistics show an increase of almost five million compared with the previous year 2012. “This reflects the fact that employment is not expanding sufficiently fast to … Continue reading
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