Job Market Monitor
Economy
US – The job market seen by LinkedIn CEO
Just under 9 million Americans are classified as unemployed. More than double that amount are either stuck in part-time jobs or say they want a job but have given up actively looking. The three groups combined added up to 18.2 million people in October. The figures raises the question, “How effective of a job are … Continue reading
Ireland – Employment increases 1.5% or 27,700 in a year (Q3)
There was an annual increase in employment of 1.5% or 27,700 in the year to the third quarter of 2014, bringing total employment to 1,926,900. This compares with an annual increase in employment of 1.7% in the previous quarter and an increase of 3.2% in the year to Q3 2013. Summary points for Q3 2014 … Continue reading
Job Growth in Canada – Contradictory data
According to StatsCan’s labour force survey, Canada created more than 117,000 jobs in the past two months, finally overcoming a long period of lacklustre job growth. Or did it? Another StatsCan survey — payroll employment, earnings and hours, released Thursday — shows Canada created zero net new jobs in September. In fact, it lost 600 … Continue reading
Jobless Claims in US – 10th Straight week below 300,000
The number of people who applied for new unemployment benefits totaled fewer than 300,000 for the 10th straight week, reflecting the low level of layoffs in the U.S. as the economy continues to strengthen. Initial jobless claims fell by 2,000 to a seasonally adjusted 291,000 in the week ended Nov. 15, the Labor Department said … Continue reading
Peugeot in France – To cut 3,450 jobs in 2015
PSA Peugeot Citroen (PEUP.PA) is preparing to cut another 3,450 French jobs next year as the troubled carmaker pursues a recovery plan under new Chief Executive Carlos Tavares, two sources with knowledge of the matter said. The cuts, to be achieved through a combination of early retirements, voluntary buyouts and internal transfers, will be presented … Continue reading
Federal Taxes, 2011 in US – Average tax rates by quintile goes from 11 percent to 23 percent CBO finds
In 2011, according to CBO’s estimates, average household market income—a comprehensive income measure that consists of labor income, business income, capital income (including capital gains), and retirement income—was approximately $81,000. Government transfers, which include benefits from programs such as Social Security, Medicare, and unemployment insurance, averaged approximately $13,000 per household. The sum of those two … Continue reading
The Quits Rate in US – The highest number since April 2008
Another encouraging sign that the job market is healing: lots of people are writing resignation letters. 2.8 million Americans quit their jobs in September — that’s 300,000 more than in August and the highest number since April 2008. The quits rate — the number of people leaving their jobs as a share of all workers … Continue reading
Minimum wage hike in New Brunswick – May cause layoffs says the Canadian Federation of Independent Business
An upcoming increase to the minimum wage in New Brunswick may force business owners to reduce hours or lay off employees, according to the Canadian Federation of Independent Business. “Businesses in New Brunswick right now are not exactly rolling in dough and they have to make some very ugly choices,” said Dan Kelly, the CFIB’s … Continue reading
ABN Amro – To cut up to 1,000 jobs
ABN Amro Group NV, the state-owned Dutch lender preparing for a share sale next year, will cut as many as 1,000 jobs by 2018 and shrink its branch network as customers move to banking on their phones. via ABN Amro to Cut Up to 1,000 Jobs in Consumer Bank by 2018 – Bloomberg.
US – Labor markets became much less fluid in recent decades says Cato Institute
As measured by flows of jobs and workers across employers, U.S. labor markets became much less fluid in recent decades. We document a large, broad-based decline in these labor market flows, drawing on multiple data sources. An aging workforce and a secular shift away from younger and smaller employers can partly account for the long-term … Continue reading
UK – Only one in every forty new jobs since the recession is for a full-time employee, says TUC
The share of UK jobs accounted for by full-time employees fell during the recession and has failed to recover, according to new analysis published today (Wednesday) by the TUC. The analysis shows that the share of full-time employee jobs was 64 per cent in 2008 and fell to 62 per cent in 2014. This is … Continue reading
Philadelphia Fed on Labor Market – Significant progress has been made
Last week’s employment numbers showed employers adding 214,000 jobs in October. Revisions for September and August added 31,000 more jobs than originally estimated. Interestingly, what we once thought was a weak jobs report for August now shows we added 203,000 jobs, which means that we have had nine months of job growth above 200,000 for … Continue reading
UK Job Report (July to September 2014) – 112,000 more employed, 694,000 more than for a year earlier and UR at 6.0%,
A record number of people are currently employed. Dr John Philpott, director of The Jobs Economist This is the most encouraging set of labour market figures for several months, combining a return to strong employment growth (up 112,000 in the quarter) with a sharp fall in unemployment (down 115,000) and average weekly earnings growth of … Continue reading
JPMorgan – To cuts 8,000 more mortgage and card jobs
JPMorgan Chase & Co. expects to eliminate 8,000 more jobs this year in mortgage and community banking than it forecast 20 months ago as profit and revenue from the businesses drop. What’s happened is that refinancing activity has fallen way off as super-low interest rates pulled forward refi demand, and depleted normal rates to come. … Continue reading
US – The October Jobs Report in charts
The unemployment rate fell to 5.8%, its lowest level since 2008. The number of Americans in the labor force ticked up slightly from the previous month. And the employment-to-population ratio, a measure of the share of Americans who are working, rose slightly to a five-year high. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
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