Economy

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Job Report in US, July 2017 – Employment increased by 209,000

Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, professional and business services, and health care. Household Survey Data Both the unemployment rate, at 4.3 percent, and the number … Continue reading

The Fed’s Report to the Congress, July 12, 2017 – The labor market has continued to strengthen

Semiannual Monetary Policy Report to the Congress (July 12, 2017)  Chair Janet L. Yellen (Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.) Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. In my remarks … Continue reading

Job Report in UK, March to May 2017 – The unemployment rate at 4.5%, the lowest since 1975

The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.5%, down from 4.9% for a year earlier and the lowest since 1975. Estimates from the Labour Force Survey show that, between December 2016 to February 2017 and March to May 2017, the number of people in work increased, … Continue reading

Job Report in US, June 2017 – Employment increased by 222,000 and unemployment little changed at 4.4 percent while labor force increased

Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, social assistance, financial activities, and mining. Household Survey Data In June, the unemployment rate, at 4.4 percent, and the number of unemployed persons, … Continue reading

Job Report in Canada, June 2017 – Employment rose by 45,000 in June, mostly in part-time work

Employment rose by 45,000 in June, mostly in part-time work. The unemployment rate was 6.5%, down 0.1 percentage points from the previous month. Compared with 12 months earlier, there were 351,000 (+1.9%) more people employed. Most of the growth was in full-time work (+248,000 or +1.7%), while part-time employment was also up (+103,000 or +3.0%). The total number of hours worked increased 1.4% over this period. In … Continue reading

Finland – Is the unemployment rate a good measure of labour market slack?

Observations that the official unemployment rate does not describe labour market slack sufficiently broadly have led to the development of broadened measures of unemployment. These types of measures are regularly used, at least in the United States and have also occasionally been explored by the ECB. Such measures seek to include, in addition to people … Continue reading

Digital Revolution – More than 90% of employers expect their organization to be impacted Manpower Group finds

Plenty has been written predicting the future: more jobs, different jobs, less jobs, even no jobs. But few are telling people that they will need new skills and they will need them more often to stay employable for jobs we may not even have heard of yet. WE ASKED 18,000 EMPLOYERS IN 43 COUNTRIES ABOUT: … Continue reading

Employment in EU, 2017-Q1 : Up by 0.4%

Employment up by 0.4% in both the euro area and in the EU28, +1.5% and +1.4% respectively compared with the first quarter of 2016. The number of persons employed increased by 0.4% in both the euro area (EA19) and in the EU28 in the first quarter of 2017 compared with the previous quarter, according to … Continue reading

Participation rate of 55 and over In Canada – Increased from 24% to 38% from 1996 to 2016

Since 2007—prior to the economic downturn of 2008/2009—the overall labour force participation of Canadians declined by about two percentage points. The first part of the study investigates the extent to which aging affected changes in labour market participation rates since 2007, based on data from the Labour Force Survey (LFS). In the second part, the … Continue reading

Job Report 2016 in Canada – People 55 and older had the fastest annual rate of employment growth (+146,000 or +4.1%)

People 55 and older had the fastest annual rate of employment growth in 2016 (+146,000 or +4.1%).This reflects population shifts related to the baby-boomer cohort, which began transitioning into the 55 and over age group around the turn of the 21st century. Both the population and employment growth rates for people 55 and older have … Continue reading

Job Report, US, April 2017 – Total nonfarm and unemployment rate was little changed at 4.4 percent

Total nonfarm payroll employment increased by 211,000 in April, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in leisure and hospitality, health care and social assistance, financial activities, and mining. Household Survey Data Both the unemployment rate, at 4.4 percent, and the … Continue reading

Job Report, Canada, April 2017 – The lowest unemployment rate since October 2008

Employment was little changed in April, while the unemployment rate declined 0.2 percentage points to 6.5%, the lowest rate since October 2008. The decrease was mostly the result of fewer youth searching for work. Compared with 12 months earlier, there were 276,000 (+1.5%) more people employed and the unemployment rate was 0.6 percentage points lower. Over the same period, the total number of hours worked … Continue reading

FedViews – The April jobs report left little doubt that the economy has reached full employment

The April jobs report left little doubt that the economy has reached full employment. Unemployment fell to 4.5% in March, below most estimates of its sustainable level in a healthy economy, or the natural rate. Other indicators also point to stronger conditions. For example, the number of workers who reported being involuntarily part time employed … Continue reading

US – Income volatility is the result of broad shifts in the labor market

The lack of access to stable, predictable cash flows is the hard-to-see source of much of today’s economic insecurity. We came to understand this after analyzing the U.S. Financial Diaries (USFD), an unprecedented study to collect detailed cash flow data for U.S. households. From 2012 to 2014 we set up research sites in 10 communities across the country. The USFD research … Continue reading

Industrial Production in Europe – Down by 0.3% in euro area, down by 0.2% in EU28

In February 2017 compared with January 2017, seasonally adjusted industrial production fell by 0.3% in the euro area (EA19) and by 0.2% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In January 2017 industrial production rose by 0.3% in both zones. Chosen excerpts by Job Market Monitor. Read the … Continue reading

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