Job Market Monitor
Employment
US – June 2015 Job Report vs October 1977
So what exactly did the United States look like in October 1977, the last time the labor-participation rate was this low? Obviously the most important question is what Americans were listening to. (The month’s top songs were Debby Boone’s “You Light Up My Life” and—seriously—Meco’s “Star Wars Theme/Cantina Band.”) The American economy at the time … Continue reading
Job Report in US – Payroll employment rises by 223,000 in June; unemployment rate declines to 5.3%
Editor’s note: While the establishment survey says that payroll employment rose by 223,000 in June, the household survey indicates that the number on people employed dropped by 56 000. This kind of result is not unusual, but it tends to come near turning points. Next months and other indicators will tell us. Total nonfarm payroll employment … Continue reading
US Job Market – Confidence strongest since Great Recession
Consumers are growing more upbeat about the U.S. labor market, with confidence reaching the highest levels since around the start of the Great Recession, according to a report released Tuesday. “The number of consumers reporting that labor conditions were bad has now declined for three months in a row, a reflection of the continued robust … Continue reading
Unemployment in Europe – The lowest rate recorded in the euro area since March 2012, but 4.707 million young persons were unemployed
The euro area1 (EA19) seasonally-adjusted unemployment rate was 11.1% in May 2015, stable compared with April 2015 , and down from 11.6% in May 2014. This is the lowest rate recorded in the euro area since March 2012. The EU28 unemployment rate was 9.6% in May 2015, also stable compared with April 2015 and down … Continue reading
Italy – Employment is rising but wage growth remains suppressed
Although wage growth remains suppressed, rising employment and improved sentiment are aiding consumer spending. Italy’s currency is represented by CurrencyShares Euro Trust (NYSEARCA:FXE). In May, the wage figure came in at an annual pace of 1.1%, below the previous month’s reading of 1.2%. After peaking at over 4% in 2009, wages have significantly declined to … Continue reading
Work and Education Credentials in US – They go together
Work credentials can serve as an alternative or supplement to education credentials. Work credentials include occupational licenses and certifications; education credentials include diplomas, degrees, and educational certificates. Both types of credentials attest that a person has the skills needed to perform a job. However, a license is issued by a government agency (often a state … Continue reading
Grads in UK – Employment and salaries up
The proportion of UK university leavers in work or further study has increased slightly, with graduate salaries on the rise too. The Destination of Leavers from Higher Education study, published today, shows that 89 per cent of graduates who completed a full-time first degree in 2014 were in work or further study six months later, … Continue reading
Aboriginal in Canada – Unemployment rate twice as high as for the nonAboriginal population in 2011 report finds
The Aboriginal population has experienced mixed outcomes for the core economic indicators. • Aboriginal labour force participation and employment rates have declined while unemployment rates have increased from 2006 to 2011, reflecting the impact of the 2008-09 economic downturn. The gap in employment and participation rates between the Aboriginal and non-Aboriginal populations increased as Aboriginal … Continue reading
State and Local Government in US – 73 percent hiring
For the second year in a row, state and local governments are hiring. In a survey of state and local government human resources managers, 73 percent reported hiring employees in the past year (up from 66 percent in last year’s survey), and 54 percent hired more people than they did in 2013. At the same … Continue reading
US – Import competition from China reduces manufacturing employment St-Louis Fed finds
In theory, trade is good. In practice, considerable debate exists on whether importing foreign goods has an adverse effect on the domestic economy (and on the labor market in particular). The impact of this effect depends on whether foreign goods compete with or complement local production. For example, if imported computers can easily substitute for … Continue reading
Lawyers in US – Side work on the rise
While the pace of hiring has slowed for full-time, salaried lawyers, the numbers of lawyers who do legal work on the side while holding down other jobs is growing rapidly. Nationwide, EMSI estimates jobs for those who draw miscellaneous income as lawyers (income that isn’t derived from their primary job) have grown 25% since 2009 … Continue reading
Employment Growth Rates in Canada – Most firms exhibit little organic growth StatCan finds
Studies on job growth typically seek answers to questions such as: What is the source of the growth of jobs? Does job growth lie predominantly in small, large, young or old firms? Where is job growth strongest? Where is it most volatile? An earlier Statistics Canada study, published in The Daily on July 5, 2012, showed that … Continue reading
Job Report in UK – Employment up 114,000 compared with the previous quarter
There was an increase in employment and a fall in unemployment, when comparing February to April 2015 with the 3 months to January 2015. Main points for February to April 2015 Comparing the estimates for February to April 2015 with those for the 3 months to January 2015, employment continued to rise and unemployment continued … Continue reading
Australia – More than five million jobs gone to computerisation and automation in 10 to 15 years
More than five million jobs, almost 40 per cent of Australian jobs that exist today, have a moderate to high likelihood of disappearing in the next 10 to 15 years due to technological advancements, a CEDA report being released today has found. Australia and the world is on the cusp of a new but very … Continue reading
Contingent Workforce in US – More likely to have no high school degree and have low family income.
The size of the contingent workforce as a proportion of the total U.S. employed labor force can range widely, depending on how it is defined. Narrower definitions generally focus on employment that is temporary, and can result in estimates of less than 5 percent. Broader definitions include various employment arrangements, such as on-call, part-time, and … Continue reading
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