Job Market Monitor
Employment
Job Report in UK – Employment at record high
There were 31.21 million people in work, 177,000 more than for April to June 2015 and 419,000 more than for a year earlier. There were 22.80 million people working full-time, 273,000 more than for a year earlier. There were 8.42 million people working part-time, 146,000 more than for a year earlier. The employment rate (the … Continue reading
Canada – Losing high-paying jobs for first time since recession
Canada has been losing high-paying jobs for the first time since the recession. David Madani of Capital Economics crunched the latest Statistics Canada numbers and found that “employment and income trends have worsened,” with a slowdown in the rise of lower-paying jobs and an outright loss of higher-income positions largely because of the oil shock. … Continue reading
US Job Report for October – Total nonfarm payroll employment increased by 271,000 and the unemployment at 5.0 percent
Total nonfarm payroll employment increased by 271,000 in October, and the unemployment rate was essentially unchanged at 5.0 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health care, retail trade, food services and drinking places, and construction. Household Survey Data Both the unemployment rate (5.0 percent) … Continue reading
Canada’s September 2015 Job Report – A decline of 62,000 in full time employment, but overall little changed
Employment was little changed for the fourth consecutive month in September (+12,000 or +0.1%). The unemployment rate increased by 0.1 percentage points to 7.1% as more people participated in the labour market. Part-time employment rose by 74,000 in September, which was largely offset by a decline of 62,000 in full time. Provincially, employment rose in British Columbia, Alberta, Manitoba, Nova Scotia, Saskatchewan and … Continue reading
India – Protest against planned labor reforms
Modi plans to launch the biggest overhaul of labor laws in decades, giving companies greater flexibility in hiring and firing workers – reforms that economistsand businesses say will help job creation and unleash more economic growth. These changes would make it tougher for employees to form unions or to go on strike, but include measures … Continue reading
Unemployment in EU – The lowest rate recorded since February 2012 but 4.634 million young persons are still unemployed
The euro area (EA19) seasonally-adjusted unemployment rate was 10.9% in July 2015, down from 11.1% in June 2015, and from 11.6% in July 2014. This is the lowest rate recorded in the euro area since February 2012. The EU28 unemployment rate was 9.5% in July 2015, down from 9.6% in June 2015, and from 10.2% … Continue reading
US – Of the 6.6 million jobs added during the recovery, 2.9 million were good jobs report finds
After years of slow growth, jobs are back in large numbers. The national unemployment rate is now 5.3 percent, down from the peak of 10 percent in October 2009. The economy added 250,000 jobs per month in 2014, the best year in job growth since the beginning of the millennium. The job growth fell off … Continue reading
Prime Age Workers in US – 6.1 percentage points decline in employment between 1999 and 2013
The share of prime-age adults who worked at some point during the year declined about 6.1 percentage points between 1999 and 2013 (note this differs somewhat from LFP). The share of people who did not work during the year because they could not find work (unemployed) picked up around 1.6 points. The share of people who … Continue reading
Technology has been a great job-creating machine study finds
The battle between man and machines goes back centuries. Are they taking our jobs? Or are they merely easing our workload? A study by economists at the consultancy Deloitte seeks to shed new light on the relationship between jobs and the rise of technology by trawling through census data for England and Wales going back … Continue reading
UK – 63,000 fewer people in work than for January to March 2015
There were 31.03 million people in work, 63,000 fewer than for January to March 2015 but 354,000 more than for a year earlier. There were 22.76 million people working full-time, 352,000 more than for a year earlier. There were 8.27 million people working part-time, little changed compared with a year earlier. The employment rate (the … Continue reading
Canada – Is the job recovery the best ? That depends on what you measure
History is clear: The Harper government’s record on job creation is the weakest of Canada’s past nine prime ministers. But is it the best job creation record we could have right now, given how so many nations are struggling with the enduring impact of the 2008 global economic crisis? When it comes to recovery, are … Continue reading
Canada July Jobs Report – Modest 6,600 jobs
Canada’s overall labour market didn’t change very much in July as the economy created 6,600 additional jobs, Statistics Canada reported today. That was roughly in line with the 5,000 new jobs that economists had been forecasting. The unemployment rate remained at 6.8 per cent for the sixth straight month. Manufacturing remains weak as another 4,600 factory jobs disappeared … Continue reading
Australia July Jobs Report – Unemployment rate, jobs both record surprise jumps
Employment surged in the month of July even as the unemployment rate climbed from 6 to 6.3 per cent. The latest official figures from the Bureau of Statistics show a jump of employment of 38,500 in July after a jump of 7000 in June and 42,000 in May. The combined jump of 87,500 came as … Continue reading
US July Jobs Report – 2.9 million jobs over the past 12 months
The U.S. economy added 215,000 jobs in July, continuing a steady expansion. Friday’s report from the Labor Department showed few changes from the prior month on a range of measures, including the unemployment rate, at 5.3%, and the labor-force participation rate. The economy has added around 2.9 million jobs over the past 12 months. That’s … Continue reading
Job Market in US – There may be some lingering slack FRBSF says
The U.S. economy is looking quite good. Growth is on a solid trajectory, and the FOMC’s maximum employment goal is in sight. Risks from abroad are unlikely to overturn strong U.S. fundamentals. Still, the exact timing of an initial interest rate increase will depend on convincing evidence that inflation is heading back toward target. The … Continue reading
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