Job Market Monitor
Employment
Job Report in US (November 2020) – Employment rose by 245,000 and unemployment edged down to 6.7
Total nonfarm payroll employment rose by 245,000 in November, and the unemployment rate edged down to 6.7 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. However, … Continue reading
Robots, Firm Performance and Employment in Canada – Firm hiring more, rather than fewer workers
Recent improvements in robotics have rekindled ancient fears about the impact of robotics on humankind. Unfortunately, existing data seldom distinguishes robots from other types of automation, so research into their impact so far has been difficult. This article introduces research from a new Statistics Canada dataset, Robots!, on the impact of robots at the firm-level. … Continue reading
Job Report in Europe (Q3,2020) – Increased by 0.9% in both the euro area and in the EU
Employment growth in the euro area and EU The number of employed persons increased by 0.9% in both the euro area and in the EU in the third quarter of 2020, compared with the previous quarter. These were the strongest increases observed since time series started in 1995. In the second quarter of 2020, employment … Continue reading
Job Report in US (October 2020) – Employment rose by 638,000 and the unemployment declined by 1.0 percentage point to 6.9
Total nonfarm payroll employment rose by 638,000 in October, and the unemployment rate declined to 6.9 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In October, … Continue reading
Getting Britain Back to Work – The employment and skills response
Unemployment spiked sharply as a result of the coronavirus crisis and associated social distancing restrictions. During March and April 2020 around 2.5 million individuals made claims for Universal Credit, with claims running at seven times usual levels at the peak. The number of vacancies in the economy has fallen by three fifths, and it is … Continue reading
Job Report in US (August 2020) – Employment rose by 1.4 million and unemployment fell to 8.4 percent
Total nonfarm payroll employment rose by 1.4 million in August, and the unemployment rate fell to 8.4 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In August, an increase … Continue reading
Covid and Change in Payroll Employment by Sector in US – A chart
Chosen excerpts by Job Market Monitor. Read the whole story @ Hutchins Roundup: Student debt, consumer spending, and more
Job Market in Canada – Still has long way to go despite jobs bounce says CIBC’s Benjamin Tal
CIBC Deputy Chief Economist Benjamin Tal speaks with Financial Post’s Larysa Harapyn about the latest Canadian unemployment numbers, and what might happen as the government transitions CERB recipients into an updated EI program.
Job Report in Canada (July 2020) – Employment rose by 419,000 (+2.4%), within 1.3 million (-7.0%) of its pre-COVID February level
Employment continues to rebound in July From February to April, 5.5 million Canadian workers were affected by the COVID-19 economic shutdown. This included a drop in employment of 3.0 million and a COVID-related increase in absences from work of 2.5 million. Employment rose by 419,000 (+2.4%) in July, compared with 953,000 (+5.8%) in June. Combined with gains of 290,000 in May, this brought employment to within 1.3 million (-7.0%) of … Continue reading
Job Report in US (July 2020) – Employment rose by 1.8 million and the unemployment rate fell to 10.2 percent, up by 6.7 percentage points since February
Total nonfarm payroll employment rose by 1.8 million in July, and the unemployment rate fell to 10.2 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. In … Continue reading
Job Report in US (June 2020) – Employment rose by 4.8 million, still down nearly 14.7 million jobs since February, and unemployment rate declined to 11.1 percent
Total nonfarm payroll employment rose by 4.8 million in June, and the unemployment rate declined to 11.1 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflected the continued resumption of economic activity that had been curtailed in March and April due to the coronavirus (COVID-19) pandemic and efforts … Continue reading
Labor Market Impacts of the Covid in US – Reductions in employment, and the associated increases in employment exit rates and decreases in hiring rates, were disproportionately concentrated in low-wage jobs
We study the distributional consequences of the Covid-19 pandemic’s impacts on employment. Using data through April 2020 from the Current Population Survey (CPS) — the primary source of labor force statistics for the United States — we document three key facts. First, we show that the pandemic-induced reductions in employment, and the associated increases in … Continue reading
COVID and Job Cuts in Public Education in US – Already greater than in all of the Great Recession
It has been well documented that fiscal austerity was a catastrophe for the recovery from the Great Recession. New estimates show that without sufficient aid to state and local governments, the COVID-19 shock could lead to a revenue shortfall of nearly $1 trillion by 2021 for state and local governments. In lieu of substantial federal … Continue reading
Post-Covid Job Market – De-emphasis on physical offices and perks, hiring outside the big metro and people looking for stability and work
I think that you’re going to see a de-emphasis on physical offices and perks, not just in tech but in finance and every other sector, such as having beautiful open floor plans, with in-office gyms and onsite yoga. Employers are going to be emphasizing flexible work, health insurance, and more practical benefits—maybe 401k match, especially … Continue reading
Bringing Jobs Back in US – 6 elements of a strategy
Despite repeated warnings, America’s industrial base has been whittled away by corporations offshoring work to Mexico, China, and other countries. The offshoring of much-needed medical equipment in the midst of the COVID-19 pandemic heightens the urgency to bring these supply chains home. While U,S. Trade Representative Robert Lighthizer’s recent op-ed heralding an end to “the … Continue reading
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