Job Market Monitor
Economy
U.S. | The number of people not in the labor force at an all time high
The “official” unemployment rate ticked down to 8.2% in March, and the actual unemployment rate ticked down to 14.8%. That’s nice. Except for the fact that people who are willing & capable of working are leaving the workforce en masse… The number of people not in the labor force is now at an all time … Continue reading
Crazy Statistics about The European Crisis
doesntevenmakesense.com has gathered the following statistics about the European economic crisis that are ‘almost too crazy to believe….’ Greece #1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row. #2 The average unemployment rate in Greece in 2010 was 12.5 percent. During 2011, the average unemployment rate was 17.3 … Continue reading
Netherlands | Long-term unemployement increases dramatically among lower educated
During the past two years, the number of people who were unemployed in the Netherlands for twelve months or more has risen noticeably: from 91 thousand in 2009 to 139 thousand in 2011. Long-term unemployment is much more frequently found in the age category 25-45 and among lower educated. Young people are often unemployed only … Continue reading
U.S. Taxes Rates | Wealthiest pay 40% less than 50 years ago while middle class pay roughly the same
Michael Greenstone and Adam Looney of The Hamilton Project – Brookings Institute examine the progressivity of the U.S. tax code and highlight two facts: the current U.S. tax system is less progressive than the tax systems of other industrialized countries, and considerably less progressive today than it was just a few decades ago. The figure below shows how much … Continue reading
Employer Tax Credits May Be a Useful Policy Tool
The 2007 Expansion of the Work Opportunity Tax Credit (WOTC) Program Increased Employment Among Disabled Veterans concludes Paul Heaton in The Effects of Hiring Tax Credits on Employment of Disabled Veterans published by rand.org. (adapted excerpts by Job Market Monitor to follow) Among the myriad federal programs available to assist unemployed veterans, few have been subjected to the rigorous empirical evaluation … Continue reading
India | Textile sector loses 100,000 workers to NREGA in 5 years
The country’s biggest man-made fibre industry in the city, which contributes to about 40 per cent of the nation’s man-made fabric demand, is facing an acute shortage of workers. A huge chunk of skilled workers from states like Bihar, Uttar Pradesh, Orissa and Andhra Pradesh employed in the weaving and processing sectors have shifted to … Continue reading
U.S. CONGRESSIONAL BUDGET OFFICE | How To Respond to Persistently High Unemployment
The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking … Continue reading
U.S. | Job Stimulus Programs | Where are the promised Green Jobs ?
Three weeks ago, President Barack Obama stood in front of a sea of gleaming solar panels in Boulder City, Nevada, to celebrate his administration’s efforts to promote “green energy.” Stretching row upon row into the desert, the Copper Mountain Solar Project not far from Las Vegas provided an impressive backdrop for the president. Built on … Continue reading
India | Infosys to hire 35,000
Country’s second largest IT firm Infosys on Friday said it will hire 35,000 people this fiscal, including 13,000 for its BPO operations. “We are going to add 35,000 more people next year, which includes 13,000 people for the BPO operations,” Infosys Member of the Board and Chief Financial Officer V Balakrishnan said. Infosys and … Continue reading
U.S. IT Jobs Return to 2008 Level
Tech-related jobs in the U.S. have recovered back to their pre-recession levels, with total people employed in IT above 4 million again, according to data in the Bureau of Labor Statistics’ surveys of U.S. households in the first quarter of this year. U.S. IT employment is at an estimated 4.04 million, according to the first … Continue reading
Unemployment Claims | Up by 13,000 to two-month high
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT – SEASONALLY ADJUSTED DATA In the week ending April 7, the advance figure for seasonally adjusted initial claims was 380,000, an increase of 13,000 from the previous week’s revised figure of 367,000. The 4-week moving average was 368,500, an increase of 4,250 from the previous week’s revised average of 364,250. … Continue reading
76% feel that the US economy is still in recession
Seventy six percent of respondents said that the economy is “still in recession” while just 21 percent said the recession is over, according to the Post-ABC poll. While 85 percent of Republicans feel the economy is still in recession so do 68 percent of Democrats and 77 percent of independents. Do you think the country’s … Continue reading
How technology is fuelling China’s jobs market
The booming Chinese economy means that technology firms – particularly e-commerce companies – are struggling to find skilled candidates and managers to help fuel that growth. The latest Salary and Employment Forecast from international recruitment company Michael Page shows that there is strong growth in demand for technology professionals across sectors such as finance and retail, … Continue reading
U.S. | Hiring at highest level in more than 3 years
There were 3.5 million job openings on the last business day of February, little changed from January, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) and separations rate (3.1percent) were little changed in February. The job openings rate, at 2.6 percent, has trended upward since the end of the recession in … Continue reading
Slow Job Recovery | Low-Wage Jobs to Be Blamed
Slower-than-expected employment growth in March 2012 has brought the halting pace of economic recovery into sharp focus again. Nearly three years since the recession officially ended in June of 2009, 12.7 million people are still out of work and unable to find a job—a figure that rises to 22.8 million if workers who have given … Continue reading
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