Job Market Monitor
Employment
EU28 in March 2014 Unemployment rate was 10.5%, 11.8% for the euro area
The euro area (EA18) seasonally-adjusted unemployment rate was 11.8% in March 2014, stable since December 2013, but down from 12.0% in March 2013. The EU28 unemployment rate was 10.5% in March 2014, stable compared with February 2014, but down from 10.9% in March 2013. These figures are published by Eurostat, the statistical office of the … Continue reading
US in April – Private-sector employment increased by 220,000 says ADP
Private-sector employment increased by 220,000 from March to April, on a seasonally adjusted basis. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report – April 2014 | NER. Private-sector jobs growth strongest in five months Private-sector hiring picked up in April, with employers adding the most jobs in five months, springing … Continue reading
US – Not reallocating labor resources since the Great Recession
The Great Recession appears to have solidified trends that took hold in the early 2000s. During the 1990s, 16 percent of total private-sector employment per quarter was typically accounted for by job churn—expanding companies’ hiring new workers and shrinking ones’ handing out pink slips. Since the turn of the century, the rates of new hirings … Continue reading
Some jobs that weren’t around in 25 years ago
Social media manager/strategist/marketer This occupation may not have its own BLS designation yet, but there’s no denying its emergence in the age of Twitter, Facebook, Pinterest and Instagram. “Anything that has to do with social media, companies having a social media strategist—that was a job that never existed, because there was no social media,” Barrington … Continue reading
US – A boom in health care jobs
Evidence confirms the demand for health care professionals, and it’s not just for physicians and nurses but for medical records processing specialists, lab technicians, informational technology support experts and more. A confluence of factors is at work, but two stand out: The aging of the baby boom generation, and the passage of the health care … Continue reading
Manufacturing jobs are shrinking everywhere
The decline in manufacturing jobs isn’t confined to the (now) rich world. According to the Groningen Growth and Development Center, manufacturing jobs in Brazil climbed as a proportion of total employment from 12 percent in 1950 to 16 percent in 1986. Since then it’s slid to around 13 percent. In India, manufacturing accounted for 10 percent of … Continue reading
The Job Gap in US – Lack of jobs is still a very big problem
In the next few months, the labor market will pass a milestone in its recovery from the Great Recession: Total payroll employment (private plus government) will finally top its pre-recession level . But before breaking out the champagne, let’s remember that the previous peak was more than six years ago in December 2007; with population … Continue reading
Returning to Full Employment in US – A CRS Report
Until recently, the economy and labor market were experiencing an unusually slow recovery from the longest and deepest recession since the Great Depression compared to other expansions since World War II. The rapid decline in the unemployment rate from 7.9% in January to 6.7% in December 2013 (where it remained in the first quarter of … Continue reading
Canada – A job more than a career says 58% to Careerbuilder.ca
A majority of Canadians feel their employment is just a job, according to a survey. The Careerbuilder.ca survey finds that 58% of workers feel that they have a job as opposed to a career (42%). Nearly one-quarter (23%) of Canadian workers say they plan to change jobs this year, up from 17% last year. via … Continue reading
Labour market reforms in Italy
Italy’s labour market productivity has been stagnating in the past decade despite numerous reforms. This column gives an explanation why this is so. By focusing exclusively on flexibility, past labour market reforms have completely neglected incentives. There is severe allocative malfunctioning in the Italian labour market. Wages do not reflect sector productivity in the short … Continue reading
Doctoral Scientists and Engineers in US – Unemployment has increased
In 2010, an estimated 805,500 individuals in the United States held research doctoral degrees in science, engineering, and health (SEH) fields, an increase of 6.2% from 2008. Of these individuals, 709,700 were in the labor force, which includes those employed full time or part time and those actively seeking work (i.e., unemployed). The unemployment rate … Continue reading
Losing Job in US – Would Quickly Lead to Hardship finds Gallup
Many working Americans would experience financial peril if they lost their current job, putting pressure on them to find a new job quickly. A substantial minority of U.S. workers say they could go just one week (14%) or one month (29%) before experiencing significant financial hardship if they lost their job. Gallup’s annual Economy and … Continue reading
US – Looking beyond the Unemployment rate
Looking for an alternative to the Unemployment rate ? Try the employment:population ratio. One alternative is to ignore the question of who is actively looking for work and focus, instead, on who is working. Specifically, check to see how many people there are in our state and then find out how many of them have … Continue reading
OECD in Q4 2013 – employment rate increased to 65.3%
The OECD area employment rate – defined as the share of people of working-age who are in employment – increased by 0.1 percentage point (to 65.3%) in the fourth quarter of 2013. This was the third consecutive quarterly increase, but the level is still 1.2 percentage points below the one recorded in the second quarter … Continue reading
US Labor Market in Crisis – Two Charts
he enormous number of people who work only part-time for economic reasons is one the tragedies of the unemployment crisis in this country. It didn’t even start with the financial crisis. Before the 2001 recession, there were a little above 3 million of them. By September 2003, as the economy recovered, there were 4.84 million. … Continue reading
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