Job Market Monitor
Employment
Labor Market in US – It is doing quite well but earnings inequality continues to rise
In the aggregate the US labor market is doing quite well. Unemployment is currently below 5%, and real weekly earnings of full-time workers increased from the 2000 cyclical peak to the current period of near full employment. The difficulties lie behind the aggregates. Earnings inequality continues to rise, with the growth in earnings most prevalent … Continue reading
Job Report 2016 in Canada – People 55 and older had the fastest annual rate of employment growth (+146,000 or +4.1%)
People 55 and older had the fastest annual rate of employment growth in 2016 (+146,000 or +4.1%).This reflects population shifts related to the baby-boomer cohort, which began transitioning into the 55 and over age group around the turn of the 21st century. Both the population and employment growth rates for people 55 and older have … Continue reading
Job Report, US, April 2017 – Total nonfarm and unemployment rate was little changed at 4.4 percent
Total nonfarm payroll employment increased by 211,000 in April, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in leisure and hospitality, health care and social assistance, financial activities, and mining. Household Survey Data Both the unemployment rate, at 4.4 percent, and the … Continue reading
Job Report, Canada, April 2017 – The lowest unemployment rate since October 2008
Employment was little changed in April, while the unemployment rate declined 0.2 percentage points to 6.5%, the lowest rate since October 2008. The decrease was mostly the result of fewer youth searching for work. Compared with 12 months earlier, there were 276,000 (+1.5%) more people employed and the unemployment rate was 0.6 percentage points lower. Over the same period, the total number of hours worked … Continue reading
US – Income volatility is the result of broad shifts in the labor market
The lack of access to stable, predictable cash flows is the hard-to-see source of much of today’s economic insecurity. We came to understand this after analyzing the U.S. Financial Diaries (USFD), an unprecedented study to collect detailed cash flow data for U.S. households. From 2012 to 2014 we set up research sites in 10 communities across the country. The USFD research … Continue reading
Job Report in Canada, March 2017 – Employment was little changed (+19,000 or +0.1%)
Employment was little changed in March (+19,000 or +0.1%), while the unemployment rate rose 0.1 percentage points to 6.7% as more people searched for work. In the first quarter of 2017, employment gains totalled 83,000 or 0.5%. This growth is comparable to the last quarter of 2016 (+91,000 or +0.5%) and notably higher than the first quarter of 2016 (+36,000 or +0.2%). Compared with 12 months earlier, employment increased by 276,000 (+1.5%), mostly … Continue reading
Job Report in US, March 2017 – Employment up by (only) 98,000 bu unemployment rate fell to 4.5 percent, the lowest level in almost a decade
The unemployment rate declined to 4.5 percent in March, and total nonfarm payroll employment edged up by 98,000, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services and in mining, while retail trade lost jobs. Household Survey Data The unemployment rate decreased by 0.2 percentage point to 4.5 percent … Continue reading
The disconnect between growth and employment (video) – ILO’s World Employment and Social Outlook: Trends 2017
Growth continues to disappoint, both in terms of its level but also in terms of its ability to make important inroads to making growth more inclusive. The ILO’s World Employment and Social Outlook – Trends 2017 highlights the challenges for the coming year in jobs and the labour market. Chosen excerpts by Job Market Monitor. Read … Continue reading
ICT and Work – A tendency to lead to longer working hours, to create an overlap between paid work and personal life
New information and communications technologies (ICT) have revolutionised everyday work and life in the 21st century. They enable people to connect with friends and family – as well as with work colleagues and supervisors – at any point in time; however, they also facilitate the encroachment of paid work into the spaces and times normally … Continue reading
The Fourth Industrial Revolution – This transformation is going to change the way we produce goods, provide services, and collaborate with our colleagues
The final panel, moderated by Tilak Agerwala, formerly of IBM, focused on the human-technology frontier. It opened with a presentation by Fay Cook of the National Science Foundation (NSF), who spoke about work at the human-technology frontier. “We are on the cusp of major transformations in work and the workplace driven by new and emerging … Continue reading
Unemployment Rate in Europe, January 2017 – 9.6% for the Euro Area, 4.017 million young persons overall
The euro area (EA19) seasonally-adjusted unemployment rate was 9.6% in January 2017, stable compared to December 2016 and down from 10.4% in January 2016. This remains the lowest rate recorded in the euro area since May 2009. The EU28 unemployment rate was 8.1% in January 2017, down from 8.2% in December 2016 and from 8.9% … Continue reading
US – Americans are hustling to adapt to new labor force realities Pew finds
For the past several decades, employment has been rising faster in jobs requiring higher levels of preparation – that is, more education, training and experience. The number of workers in occupations requiring average to above-average education, training and experience increased from 49 million in 1980 to 83 million in 2015, or by 68%. This was … Continue reading
Canada Job Report, January 2017 – Employment rose by 48,000
Employment rose by 48,000 (+0.3%) in January, building on gains observed in the latter part of 2016. The unemployment rate fell by 0.1 percentage points to 6.8%. On a year-over-year basis, employment rose by 276,000 (+1.5%), with most of the increase occurring from August to January. Following a significant increase in December, full-time employment held steady in January. Compared with 12 months earlier, full-time employment … Continue reading
The three-fold effects of technology and globalization on labor markets
The effects of technology—especially digital innovation—and globalization on labor markets are three-fold. The first effect is disruption as jobs relocate to take advantage of lower costs, evolve to entail different tasks, or undergo wholesale change with the elimination of old jobs and the emergence of new ones. Disruption is a permanent feature of any dynamic … Continue reading
Globalization in Germany – A stabilizing effect on manufacturing jobs
Unlike in the case of the US, rising trade with emerging low-wage countries did not speed up the decline of manufacturing in Germany. Trade, in fact, slowed it down because the rising exports to these new markets worked to stabilize industry jobs, which might have otherwise been replaced by service jobs. A new IZA Discussion Paper by Wolfgang … Continue reading
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