Job Market Monitor
Employment
US Job Report for February 2015 – Total nonfarm payroll employment increased by 295,000
Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining was down over the month. … Continue reading
US – Most (60%) see only a partial recovery in jobs Pew finds
The public makes sharp distinctions about which groups have benefited – and which have not – from the economic policies the government has put in place since the start of the recession. Majorities say that large banks, large corporations and the wealthy have been helped a great deal or a fair amount by government policies. … Continue reading
Canada – Job quality is now at a record low CIBC finds
Job quality in Canada is now at a record low and showing little sign it will turn around in the near future, finds CIBC’s latest Canadian Employment Quality Index. The index, which measures the quality of employment from a compensation perspective, shows declines in all measures and indicates the drop in Canadian job quality is … Continue reading
IT Job Market in US – The best growth since 2000
More than 130,000 new IT jobs were created in the last 12 months. A Janco analysis based on a review of data from the Bureau of Labor Statistics has found 131,800 new information technology jobs were created in the past year. Janco found a net increase of 62,600 IT jobs in the past three months … Continue reading
Canada – Still 270,000 jobs short of full employment says Carolyn Wilkins, Governor Stephen Poloz’s top deputy,
The economy is still 270,000 jobs short of full employment Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech Growing angst about the sluggish pace of job creation could provide more cover for the Bank of Canada to lower interest rates again. Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech … Continue reading
US – The 2015 Economic Report of the President on the labor market
Chapter 3 of [The 2015 Economic Report of the President] addresses the opportunities and challenges facing the U.S. labor market. The sharp drop in unemployment in 2014 came amid a stabilization in the labor force participation rate and the strongest annual job growth since the 1990s as businesses added more than 3 million jobs. But … Continue reading
Texas – Largely responsible for net job increase since 2007 AEI finds
It’s a pretty impressive story of how job creation in just one state – Texas – has made such a significant contribution to the 1.169 million net increase in total US employment (+1,444,290 Texas jobs minus the 275,290 non-Texas job loss) in the seven year period between the start of the Great Recession in December … Continue reading
Singapore – Unemployment at 1.9%, a result of forcing organisations to consider more locals for employment
Unemployment in Singapore remained low in December, with more locals employed while the growth of foreign workers continued to moderate, the Manpower Ministry (MOM) said on Friday (Jan 30). The overall seasonally adjusted unemployment rate was at 1.9 per cent for the month, while the resident unemployment rate fell to 2.6 per cent from 2.8 … Continue reading
Advanced industries in US – 12.3 million workers, 9 percent of total U.S. employment
Advanced industries represent a sizable economic anchor for the U.S. economy and have led the post-recession employment recovery Modest in size, the sector packs a massive economic punch: As an employer and source of economic activity the advanced industry sector plays a major role in the U.S. economy. as of 2013, the nation’s 50 advanced industries … Continue reading
US – Government workers are less likely to be displaced CATO finds
This paper examines the extent to which public-sector employment has been relatively recessionproof in the past, whether previous patterns with respect to job displacement held during the Great Recession, and whether the experiences of federal, state, and local government workers have been similar… We use a sample of over 800,000 workers taken from the … Continue reading
Unemployment in Germany in January 2015 – At Record Low
Germany’s unemployment rate declined to a record low at the start of the year, reflecting an improvement in the labor market after the euro area’s biggest economy expanded the most in three years during 2014. The jobless rate dropped to a seasonally adjusted 6.5 percent in January from a revised 6.6 percent in December, the … Continue reading
Oil Prices – Dampening the recruitment activity but hiring has not stopped
The recent decline in oil prices has led to a “softening” of recruitment in the region’s oil and gas sector, but there are still employment opportunities available in the UAE for those seeking new positions, experts told Gulf News. Overall, demand for new employees is still on the rise in the UAE, with nine out … Continue reading
Canada – Revisions show bigger job losses in December
Statistics Canada on Wednesday revised its December employment data to show a bigger loss of 11,300 jobs from a previously reported decline of 4,300, with a gain in full-time positions cut to 35,000 from 53,500. Part-time job losses improved to 46,300 from a loss of 57,700 that was previously reported Jan. 9. The national unemployment … Continue reading
Unemployment Insurance in US – Cut in benefit duration accounted for about 61 percent of the aggregate employment growth in 2014 NBER’s study finds
Our objective in this paper is to assess the effect of unemployment benefit extensions on employment. Measuring the magnitude of this effect is manifestly important for understanding the economic consequences of this widely used policy instrument. Yet, the existing literature provides little information on the size, let alone the sign of this effect. In the … Continue reading
The long-term employment challenge – The productivity solution
Global employment growth has been slowing for more than two decades. By around 2050, our research finds, the global number of employees is likely to peak. In fact, employee headcounts are already declining in Germany, Italy, Japan, and Russia; in China and South Korea, they are likely to begin falling as early as 2024. While … Continue reading
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