Job Market Monitor
Economy
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
UK’s Jobs Growth in 2018 – People with disabilities account for three-quarters of the gains and ethnic minorities for over a quarter
The UK’s jobs surge of recent years should not be underestimated, just because it’s old news. With unemployment hovering just above 4 per cent all year it’s easy to forget that as recently as 2016 the Office for Budget Responsibility thought 5.5 per cent was as low as we could sustainably go. We live and … Continue reading
Outlook for 2019 in US – A likely recession ?
The longest expansion in our history lasted ten years (March 1991 to March 2001), and the current one will match that milestone in mid-2019. This expansion was already in its eighth year when Trump took office; and as I’ve noted here and elsewhere, all business cycles eventually expire from old age unless they are struck … Continue reading
Job Report in Canada, November 2018 – Unemployment at 5.6%, the lowest since comparable data became available in 1976
Employment rose by 94,000 in November, driven by gains in full-time work. The unemployment rate decreased 0.2 percentage points to 5.6%, the lowest since comparable data became available in 1976. In the 12 months to November, employment grew by 219,000 or 1.2%, reflecting gains in full-time work (+227,000 or +1.5%). Over the same period, total hours worked were up 2.1%. Chart : Unemployment rate Chosen excerpts by Job … Continue reading
Job Report in US, November 2018 – Employment increased by 155,000
Total nonfarm payroll employment increased by 155,000 in November, and the unemployment rate remained unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, in manufacturing, and in transportation and warehousing. Household Survey Data In November, the unemployment rate was 3.7 percent for the third month in … Continue reading
Job Report in Europe, October 2018 – Euro area unemployment at 8.1% with 3.468 million young persons unemployed in the EU28
The euro area (EA19) seasonally-adjusted unemployment rate was 8.1% in October 2018, stable compared with September 2018 and down from 8.8% in October 2017. This remains the lowest rate recorded in the euro area since November 2008. The EU28 unemployment rate was 6.7% in October 2018, stable compared with September 2018 and down from 7.4% … Continue reading
Labour Markets in Canada – The changes between 1981 and 2018
The types of jobs being created in Canada continue to be a central theme in discussions of economic change and the financial well-being of Canadians. A new Statistics Canada study documents changes in some of the basic characteristics of jobs over the last four decades. The jobs held by Canadian employees in 2018 differ in many respects … Continue reading
The Future of Work – New education models for extending the principle of dual education
How should educational systems and school-to-work transition (SWT) regimes be modeled to better serve the needs of Industry 4.0? Although a high level of general education will be important for its training content to develop adaptability, it is not the only component to develop. What will be increasingly important are the work-related skills. This will … Continue reading
Global Labour Market – Where are the jobs?
Labour markets are evolving and adapting to technological advances, innovations in business and production processes and the emergence of new economic activities, the demand for new services and the data revolution. Global employment has been increasing for many decades now, and is expected to continue doing so at least in the near future. But where … Continue reading
Bank of Canada – Toward a dual mandate
The Bank of Canada will review its monetary policies and is open to making major changes, including a move away from its long-standing practice of targeting inflation, a senior official said on Tuesday. A sign is pictured outside the Bank of Canada building in Ottawa, Ontario, Canada, May 23, 2017. REUTERS/Chris Wattie The deadline for … Continue reading
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