Job Market Monitor
Employment
China – 42.8 Percent believe the job market faces “a severe situation”
Many mainland residents may not be as confident as Premier Li Keqiang in the prospects of the job market, a survey conducted by the People’s Bank of China indicated.In the third-quarter survey carried out by the central bank with urban depositors, 42.8 per cent of residents believe the job market faces “a severe situation” while … Continue reading
US – Job Openings Outpace Hires writes Dallas Fed
In addition to employment and unemployment figures, data on the efficiency of the labor market offer more clues to its health. One way to determine this is to examine the degree of labor mismatch occurring. The classic illustration demonstrating mismatch is the Beveridge curve, which shows an intuitive relationship between the rate of job vacancies … Continue reading
Europe – Major companies pledge 100K for new youth jobs
Some 200 companies on Thursday pledged to create new work and training opportunities for Europe’s young jobseekers, of which one out of four is unemployed. The alliance of major companies set a goal of creating tens of thousands in additional jobs — or apprenticeships and internships that lead to jobs — over the next several … Continue reading
UK May to July 2014 Job Report – Employment continued to rise
Key Points for May to July 2014 Comparing the estimates for May to July 2014 with those for February to April 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement since late 2011/early 2012. There were 30.61 million people in work. This was 74,000 more than … Continue reading
Boomers vs Youth on the Worplace – No crowding out but, tension at the individual level
In a series of recent client notes, consulting firm Mercer urges companies to recognize the tension between young and old at work, and to plan for baby boom workers to hang on to their jobs. “For those who choose to retire, many are going to realize … they don’t have enough money to sustain themselves, … Continue reading
Australia August 2014 Job Report – The largest monthly increase in jobs on record
The largest monthly increase in jobs on record has pushed the unemployment rate back down to 6.1 per cent. An estimated 121,000 jobs were added in August, which is well ahead of any previous monthly jobs gain recorded in ABS figures that go back to 1978. Economists had expected the unemployment rate to fall back … Continue reading
When the sharing-economy gets at your job
I love the sharing economy because it’s efficient. Got some spare time? Become a TaskRabbit! Spare space? AirBNB it! A car and nowhere to go? Drive for Uber or Lyft! The taxi industry is a regulatory-capture nightmare. Disrupt ‘em ’til they’re dead? Don’t mind if you do! …And yet our 21st-century sharing-economy dream is beginning … Continue reading
India to China – Set up manufacturing units
India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading
US – A majority of workers have new jobs since the end of the recession
Now here is an important fact: the median number of years that current wage and salary workers have been with their current employer is about four and a half. In other words, more than half of current workers have jobs that are new since the end of the recession. A majority of workers have new jobs, some … Continue reading
US – Employers are not hiring , they squeeze
As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading
Canada Job Report for August – Be very careful with the jobs numbers
Derek Holt, VP at Scotiank Economics, urged clients on Friday to approach Statistics Canada’s latest reading on the country’s labour market with caution, calling some details in the report “very fishy.” According to the agency, the Canadian economy unexpectedly lost 11,000 jobs in August from July, and the number of private-sector employees fell sharply. The … Continue reading
Unemployment in OECD – 12.1 Million more than before the crisis and wages stagnate (video)
Unemployment will remain well above its pre-crisis levels next year in most OECD countries, despite modest declines over the rest of 2014 and in 2015, according to a new OECD report. The Employment Outlook 2014 says that average jobless rates will decrease slightly over the next 18 months in the OECD area, from 7.4% in mid-2014 … Continue reading
US Job Report for August 2014 – A disappointing employment increase of 142,000
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, both the unemployment rate (6.1 percent) and the number of unemployed … Continue reading
Canada Job Report for August 2014 – Employment increased by 81,000, mostly in part-time work the last 12 months
But economy shed 11,000 jobs last month… And take care about the way StatCan writes it! From the official press release Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged… … Continue reading
Europe’s Job Market vs US – Doing better
Compare unemployment rates, and America’s job market looks much stronger than Europe’s. The U.S. rate for August, being released Friday, is expected to be a near-normal 6.1 percent. In the 18 countries that use the euro currency, by contrast, it’s a collective 11.5 percent. Yet by some measures, Europe is doing better. It’s been more … Continue reading
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