Job Market Monitor
Economy
Job Growth in Canada – Governments outpace and the private sectors in 8 provinces
● Several past analyses published by the Fraser Institute have shown that in recent years net job creation in the government sector has dramatically outstripped private-sector job creation. ● This publication updates these data, showing that during the recession brought on by the COVID- 19 pandemic and the following recovery (2019–2023), government employment has increased … Continue reading
Recession in UK – Stubbornly struggling to grow, with that reality partly hidden by exceptional levels of population growth
Slowly shrinking Let’s start with the basics – what’s dominating most of the (slightly odd) coverage today. At 7am this morning the ONS confirmed what markets were expecting: the UK entered a technical recession in the second half of 2023. A GDP fall of 0.3 per cent in the final quarter of the year meant … Continue reading
Job Report in UK (2023) – The labour market has continued to cool
This morning we got (almost) the full set of labour market data up to the end of 2023. The release sheds light on a whole host of important policy issues, from how tight the labour market is to the scale of the rise in worklessness due to ill health. So, what have we found out? … Continue reading
Job Report in Canada – Surging population growth and GDP is on track to post a 7th consecutive per-capita decline
The Canadian labour market data is notoriously volatile, but details underlying the January upside employment growth (and downside unemployment rate) surprise were also firm. The increase in hours worked is consistent with GDP ticking higher early in 2024, and adds to early signs that housing markets have perked up. Growth in the economy still looks … Continue reading
Canada – Students and new graduates are bearing the brunt of the labour market downturn
The magnitude and pace of Canada’s rising unemployment rate are consistent with trends observed during past recessions. Unlike prior recessions, though, the increase to-date has come without a surge in layoffs – it’s rather taking more time to absorb newly available workers as the population grows rapidly. But it’s students and new graduates rather than … Continue reading
Canada – An economic crisis writes the Fraser Institute
Canada’s Economic Crisis Average per-person incomes in Canada have stagnated from 2016 ($54,154) to 2022 ($55,863). Meanwhile, the United States has seen an increase from $65,792 to $73,565. The average Canadian now earns $17,700 less annually than the average American. Canada ranks just below Louisiana ($57,954) in average per-person income and slightly ahead Kentucky ($54,671). … Continue reading
Canada – A relatively non-competitive and closed business market
Despite population growth and a market size now topping 40 million, Canada remains, compared to the U.S., a relatively non-competitive and closed business market dominated by duopolies and oligopolies. Chosen excerpts by Job Market Monitor. Read the whole story @ Canada’s economic future is looking grim—especially when compared to the U.S. – The Hub
Canada – GDP per-capita declined for a fifth straight quarter writes RBC
With population growing rapidly, per-capita growth rates continue to look substantially softer – GDP per-capita declined for a fifth straight quarter in Q3, consistent with a drift higher in the unemployment rate since the spring. Chosen excerpts by Job Market Monitor. Read the whole story @ RBC Royal Bank
Job Report in US (July 2022) – Total nonfarm payroll employment rose by 528,000 and unemployment edged down to 3.5 percent
Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rateedged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Jobgrowth was widespread, led by gains in leisure and hospitality, professional andbusiness services, and health care. Both total nonfarm employment and the unemploymentrate have returned to their February 2020 pre-pandemic … Continue reading
Job Report in US (June 2022) – Employment rose by 372,000 unemployment remained at 3.6 percent
Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care. Household Survey Data The unemployment rate was 3.6 percent for the fourth month in a row, and the … Continue reading
Employment in Europe in 2021 – Lockdown transforms labour markets
The COVID-19 pandemic continued to be a defining force in the lives and work of Europeans for a second year in 2021, and Eurofound continued its work of examining and recording the many and diverse impacts across the EU Member States. Living and working in Europe 2021 provides a snapshot of the changes to employment, work and … Continue reading
Job Report in US (May 2022) – Employment rose by 390,000 and unemployment remained at 3.6 percent
Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and business services, and in transportation and warehousing. Employment in retail trade declined. Household Survey Data In May, the unemployment … Continue reading
Labor Market in US – It reflect the economy’s robust recovery from the coronavirus pandemic
Evgeniya Duzhak, regional policy economist at the Federal Reserve Bank of San Francisco, stated her views on the current economy and the outlook as of February 10, 2022. The improvements in the labor market reflect the economy’s robust recovery from the coronavirus pandemic. The unemployment rate in January stands at 4.0%, close to the natural … Continue reading
Job Report in US (January 2022) – Employment rose by 467,000 and unemployment little changed at 4.0
Total nonfarm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. Household Survey Data Both the unemployment rate, at … Continue reading
COVID-19 Lockdowns and Jobs in Europe – ‘Furloughed’ workers accounted for around two-thirds of the decline in hours worked at the height of the crisis
The [Coronavirus Disease 2019] COVID-19 pandemic closed or limited many economic activities in 2020, with far-reaching impacts on the labour market. Employment losses at the outset of the pandemic were sharper than those experienced during the global financial crisis. Even greater declines in hours worked arose as a result of the widespread state-supported furloughing of … Continue reading
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