Job Market Monitor
Economy
Canada Job Report for August 2014 – Employment increased by 81,000, mostly in part-time work the last 12 months
But economy shed 11,000 jobs last month… And take care about the way StatCan writes it! From the official press release Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged… … Continue reading
Europe’s Job Market vs US – Doing better
Compare unemployment rates, and America’s job market looks much stronger than Europe’s. The U.S. rate for August, being released Friday, is expected to be a near-normal 6.1 percent. In the 18 countries that use the euro currency, by contrast, it’s a collective 11.5 percent. Yet by some measures, Europe is doing better. It’s been more … Continue reading
UK – A record number of people are looking for extra hours to top up their wages finds Trades Union Congress
The number of people who are under-employed has increased by nearly 100,000 over the last two years, according to new analysis published by the TUC today (Wednesday). The analysis shows that while unemployment has fallen by over 400,000 since early 2012, under-employment has risen by 93,000. And at 3.4 million the current level of under-employment … Continue reading
The Middle Class in US – Wealth fell 35 percent from 2005 to 2011
A new US Census Bureau report shows that the median household’s net worth fell from $106,591 to $68,839 from 2005 to 2011: Chosen excerpts by Job Market Monitor. Read the whole story at Middle class households’ wealth fell 35 percent from 2005 to 2011 – Vox.
Nigeria – 4.5 Million new jobs required annually report says
A report by the Nigeria Stability and Reconciliation Programme, NSRP, indicates that Nigeria should create 4.5 million jobs annually to tackle the high level of unemployment in the country. It added that concerted effort made towards attaining the target would create enduring benefits to Nigeria and the entire African continent. The report, which was made … Continue reading
Layoffs in Finland – The autumn will be even bleaker than the summer
The autumn will be even bleaker than the summer in terms of unemployment, according to employment experts. Firms are no longer simply putting employees on furlough, but are more eager to terminate their agreements outright. One researcher says that the situation can now be described as mass unemployment. Chosen excerpts by Job Market Monitor. Read … Continue reading
US – It takes people much longer to get back to work today than it did six or seven years ago
More than 3 million U.S. workers remain among the long-term unemployed – those who have been jobless for 27 or more weeks. Their numbers have been falling as the economy picks up, but experts say getting back to work has been tougher in the wake of the most recent recession than it was following the economic … Continue reading
Europe – Facing a fresh downturn
Six years after being struck by economic crisis, Europe is facing a fresh downturn, with few new ideas on the table for reigniting growth and deepening political divisions over the austerity policies that many blame for worsening the malaise… “Europe is at risk of secular stagnation,” said Lawrence H. Summers, a former United States Treasury … Continue reading
Brazil After The World Cup – In recession
Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading
Canada – Business entry rate declined from 24.5% to 13.1% from 1983/1984 to 2011/2012 finds StatCan
Firm entry and exit are an important source of dynamism that is essential to a well functioning economy. The entry of new firms is an important source of productivity growth and technology adoption while exit removes less productive firms. Based on a new set of linked, experimental data for the period 1983/1984 to 2011/2012, Canada’s … Continue reading
US Monetary policy – The labor market has yet to fully recover says Yellen
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the downturn, with payroll employment in … Continue reading
US – The job market in one chart
When the Fed commenced rate hiking cycles in 1994, 1999 and 2004, the involuntary part time labor share was materially lower, while the prime age employment ratio was significantly higher. To wit: the prime age employment ratio stood at 78.9%, 81.4% and 79.1% as each of the last three tightening cycles got underway. In July the … Continue reading
US – Employers are no longer investing resources in training
Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading
Cost Competitiveness – The old worldview now appears to be out of date
For the better part of three decades, a rough, bifurcated conception of the world has driven corporate manufacturing investment and sourcing decisions. Latin America, Eastern Europe, and most of Asia have been viewed as low-cost regions. The U.S., Western Europe, and Japan have been viewed as having high costs. But this worldview now appears to … Continue reading
Europe – Nobel economists say policy blunders pushing it into depression
An array of Nobel economists have launched a blistering attack on the eurozone’s economic strategy, warning that contractionary policies risk years of depression and a fresh eruption of the debt crisis. “Historians are going to tar and feather Europe’s central bankers,” said Professor Peter Diamond, the world’s leading expert on unemployment. “Young people in Spain … Continue reading
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