Economy

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Annual Review of Labour market in Canada, 2018 – Record-low unemployment rate

Canada’s record-low unemployment rate was one of several notable labour market trends in 2018. While the overall labour force participation rate continued to decrease, in keeping with the aging population, it reached a record high 83.2% among women in the core working ages of 25 to 54. The long-term trend of increasing labour force participation for people aged 55 and older was … Continue reading

Job Report in US, March 2019 – Employment increased by 196,000 and unemployment unchanged at 3.8 percent

Total nonfarm payroll employment increased by 196,000 in March, and the unemployment rate was unchanged at 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services. Household Survey Data The unemployment rate remained at 3.8 percent in March, and the number of … Continue reading

Job Report in Canada, March 2019 – Employment held steady and unemployment remained unchanged at 5.8%

Following increases in January and February, employment held steady in March. The unemployment rate remained unchanged at 5.8%. In the first quarter of 2019, employment rose by 116,000 (+0.6%). On a year-over-year basis, employment grew by 332,000 (+1.8%), with gains in both full- (+204,000) and part-time (+128,000) work. Over the same period, total hours worked rose by 0.9%. Highlights Employment increased in … Continue reading

Job Openings in US – Increased to 7.6 Million in January with more of them than people unemployed for the eleventh consecutive month

In January there were 7.581 million job openings, and, according to the January Employment report, there were 6.535 million unemployed. So, for the eleventh consecutive month, there were more job openings than people unemployed. Also note that the number of job openings has exceeded the number of hires since January 2015 (4 years). Chosen excerpts … Continue reading

Job Report in Europe, QIV2018 – The number of persons employed increased by 0.3% in the euro area and by 0.2% in the EU28

The number of persons employed increased by 0.3% in the euro area and by 0.2% in the EU28 in the fourth quarter of 2018 compared with the previous quarter. In the third quarter of 2018, employment increased by 0.2% in both zones. Compared with the same quarter of the previous year, employment increased by 1.3% … Continue reading

Job Report in Canada, February 2019 – Employment grew for a second consecutive month, up 56,000 

Employment grew for a second consecutive month, up 56,000 in February, driven by gains in full-time work. The unemployment rate was unchanged at 5.8% as the number of people searching for work held steady. In the 12 months to February, total employment grew by 369,000 or 2.0%, reflecting increases in both full- (+266,000) and part-time (+103,000) work. Over the same period, total hours … Continue reading

Job Report in US, February 2019 – A very weak month – total nonfarm payroll employment up by only 20,000

Total nonfarm payroll employment changed little in February (+20,000), and the unemployment rate declined to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment in professional and business services, health care, and wholesale trade continued to trend up, while construction employment decreased. Household Survey Data The unemployment rate declined by 0.2 percentage point … Continue reading

CBO’s 10-years Economic Outlook for US – The economy expands more slowly with debt on an unsustainable course

The Economy – In CBO’s economic forecast, which underlies its budget projections, the economy expands more slowly over the next decade than it did in 2018, averaging annual growth of 1.7 percent over the 2020– 2029 period. The slowdown begins in 2019 as the positive efects of recent tax legislation on business investment are expected … Continue reading

Job Report in EU, January 2019 – Unemployment at 7.8% with 3.375 million young persons unemployed

The euro area (EA19) seasonally-adjusted unemployment rate was 7.8% in January 2019, stable compared with December 2018 and down from 8.6% in January 2018. This remains the lowest rate recorded in the euro area since October 2008. The EU28 unemployment rate was 6.5% in January 2019, down from 6.6% in December 2018 and from 7.2% … Continue reading

Jobs in US : a Chart – Employment is now 8.6% above the previous peak

This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions.  Since exceeding the pre-recession peak in May 2014, employment is now 8.6% above the previous peak. Note: I ended the lines for most previous recessions when employment reached a new peak, although I continued … Continue reading

Educational Attainment and Labour Market Outcomes of Immigrants – Tertiary-educated foreign-born adults have lower earnings than tertiary-educated native-born ones, and their employment rates are consistently lower

Adult migrants in all OECD countries are a diverse group, with different profiles and levels of education. Even if they hold tertiary degrees, they are more likely to have poorer labour market outcomes, including lower earnings. Participation in the labour market is more difficult for foreign-born adults who arrived at a later age and acquired … Continue reading

Unemployment in Europe, November 2018 – 7.9% (Euro Area), down from 8.0% in October 2018 and from 8.7% in November 2017 with 3.444 million young persons

The euro area (EA19) seasonally-adjusted unemployment rate was 7.9% in November 2018, down from 8.0% in October 2018 and from 8.7% in November 2017. This is the lowest rate recorded in the euro area since October 2008. The EU28 unemployment rate was 6.7% in November 2018, stable compared with October 2018 and down from 7.3% … Continue reading

Job Report in Canada, December 2018 – Employment held steady in December and the unemployment rate was unchanged at 5.6%

Employment held steady in December and the unemployment rate was unchanged at 5.6%. In the 12 months to December, employment increased by 163,000 (+0.9%), entirely driven by gains in full-time work (+185,000 or +1.2%). Over the same period, total hours worked rose 0.9%. Chart Unemployment rate, Canada Highlights In December, employment increased in Newfoundland and Labrador, while it fell in Alberta, New … Continue reading

Job Report in US, December 2018 – Employment increased by 312,000 but unemployment rose by 0.2 percentage point to 3.9 percent

Total nonfarm payroll employment increased by 312,000 in December, and the unemployment rate rose to 3.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, food services and drinking places, construction, manufacturing, and retail trade. Household Survey Data The unemployment rate rose by 0.2 percentage point to 3.9 percent … Continue reading

Employment-to-Population Ratio in US – Why the decline ?

For several decades now, the employment rate among prime-age U.S adults has been falling. Less-educated males have experienced the largest drop in employment, but the troubling trends in participation are not limited to this group. Employment rates among women, which had been rising since the late 1960s, have stagnated and in some recent years declined. … Continue reading

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