Economy

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Slow Growth in US – At the actual rate, it will take about 160 years to double GDP per person

Over the last decade, the growth rate of real G.D.P. per person has averaged just 0.44 percent per year, compared with the historical norm of 2.0 percent. At a rate of 2.0 percent, incomes double every 35 years. At a rate of 0.44 percent, it takes about 160 years to double. via One Economic Sickness, … Continue reading

Europe – Employment up by 0.3% in the euro area

The number of persons employed increased by 0.3% in both the euro area (EA19) and the EU28 in the first quarter of 2016 compared with the previous quarter, according to national accounts estimates published by Eurostat, the statistical office of the European Union. In the fourth quarter of 2015, employment increased by 0.3% in the … Continue reading

US – The Labor Market Conditions Index is going in the wrong direction

Fed officials, and other economists, have been grappling with the divergence between relatively weak reported economic growth and relatively strong job growth. Those at the Fed have largely taken the view that labor market data is more accurate, which has been true over time. Wrong Direction The Federal Reserve created an index to better measure … Continue reading

Canada – Recent developments in the labour market

Total employment increased by 64,000 (+0.4%) in the last six months of 2015 on gains in  part-time work and self employment. Full-time employment was little changed during the second half of the year after notable gains in the first six months (+123,000). Individuals aged 55 and older  accounted for all of the net gain in … Continue reading

Industrial Production in Euro Area (March 2016) – Down by 0.8%

In March 2016 compared with February 2016, seasonally adjusted industrial production fell by 0.8% in the euro area (EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In February 2016 industrial production fell by 1.2% in the euro area and by 1.0% in the EU28. … Continue reading

Job Outlook in Alberta’s Oil Sand Sector – A decrease of 84% of on-site construction jobs by 2020

In today’s economic environment, fluctuations in oil prices are resulting in regular revisions of capital and operating expenditure projections. This report, together with other industry and sectoral employment outlooks to be released in 2016, serve to provide projected employment based on 2015 spending projections, as well as forecasted production volumes released by the Canadian Association of Petroleum … Continue reading

Job Report in Canada, March 2016 – Employment increased by 41,000 (+0.2%), lowering the unemployment rate to 7.1%

After three months of little change, employment increased by 41,000 (+0.2%) in March, lowering the unemployment rate by 0.2 percentage points to 7.1%. With the gains in March, employment grew by 0.2% in the first quarter (+33,000). This was the fourth consecutive quarter with 0.2% employment growth. In the 12 months to March, employment increased by 130,000 (+0.7%), the result of growth in full-time work. Over … Continue reading

Job Report in US, March 2016 – Clearly a strong report: total nonfarm payroll employment rose by 215,000 and the unemployment little changed at 5.0 percent

Total nonfarm payroll employment rose by 215,000 in March, and the unemployment rate was little changed at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, construction, and health care. Job losses occurred in manufacturing and mining. Household Survey Data In March, the unemployment rate (5.0 percent) and the … Continue reading

Global Job Market Outlook – Unemployment to increase by a further 3.4 million over the next two years ILO says

The global economic slowdown that occurred in 2015 is likely to have a delayed impact on labour markets in 2016, resulting in a rise in unemployment levels, particularly in emerging economies. Based on the most recent growth projections, global unemployment is expected to rise by nearly 2.3 million in 2016 and by a further 1.1 … Continue reading

Alberta – Unemployment rate at highest level in more than 20 years

Alberta’s unemployment rate hit its highest level in more than 20 years in February, after climbing more than 2.5 points in the past year. Statistics Canada reported Friday that the province’s unemployment rate hit 7.9 per cent in February, its highest mark since August 1995. That’s up 0.5 points from January and 0.6 points higher than the … Continue reading

Finland – A labor pact could be clinched

Finland’s government sees good prospects for unions and employers’ representatives to reach a comprehensive labor reform deal next week, Economic Affairs minister Olli Rehn said on Friday. A handful of Finnish unions have opposed a proposed labor pact, a centerpiece of government efforts to haul the economy decisively out of recession by making exports more … Continue reading

Job Report in US, February 2016 – Charts

The labor market is proving to be one of the most resilient segments of the economy in 2016. Chosen excerpts by Job Market Monitor. Read the whole story at  US Labor Market Charts, March 2016 – Business Insider Related Post Job Report in US, February 2016 – Total nonfarm payroll employment increased by 242,000 and and … Continue reading

UK – Support for the over 50s should be at the heart of a full employment strategy Resolution Foundation says

The government should target encouraging over one million more people over 50 into work by the end of the parliament as part of its full employment drive, the Resolution Foundation says today (Saturday) ahead of a major report into securing full employment.  The call comes ahead of the final report next week of the Foundation’s … Continue reading

US – Protecting Social Security and reducing unemployment, poverty, and the federal budget deficit as most important pool says

With mixed views of the national economy and their own financial situation, Americans want priority given to several different economic problems. In the latest poll conducted by The Associated Press-NORC Center for Public Affairs Research, the public sees protecting Social Security and reducing unemployment, poverty, and the federal budget deficit as most important to them … Continue reading

Only the U.S. and Japan are growing at similar rates compared with their precrisis growth

Among industrialized economies, only the U.S. and Japan are growing at similar rates compared with their precrisis growth rate after adjusting for changes in the working-age population, but their economies have still grown more slowly than expected. Chosen excerpts by Job Market Monitor. Read the whole story at  Five Trends That Will Shape the Future of … Continue reading

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