Job Market Monitor
Employment
Manufacturing in Ontario / Some 300,000 jobs lost over the past decade
Ontario’s manufacturing sector was once the bedrock of the province’s economy. But over the past decade the sector has lost some 300,000 jobs and its share of GDP has declined sharply. Whereas in 2002 the sector accounted for 8.9 per cent of Canada’s GDP and 21.7 per cent of Ontario’s, it now accounts for just … Continue reading
US / Manufacturing in International Perspective
This report is designed to inform the debate over the health of U.S. manufacturing through a series of charts and tables that depict the position of the United States relative to other countries according to various metrics. Understanding which trends in manufacturing reflect factors that may be unique to the United States and which are … Continue reading
EU labour market / A growing North-South divide
Vacancy trends in the European labour market indicate a widening gap in job opportunities between Northern and Southern countries. The latest issue of the European Vacancy Monitor (EVM) reveals a shortage of labour supply in countries such as Austria, Denmark Sweden, Estonia and Latvia, while competition for jobs is increasing in countries such as Greece, … Continue reading
Ontario / University education pays off says a report
Ontario university grads have the best odds of landing jobs in their fields at good wages, according to a feisty new report from the Council of Ontario Universities that disputes any notion its members are glorified prep schools for a life making lattes. The 30-page “University Works,” to be released Tuesday, argues that university grads … Continue reading
Minimum Wage Increase in US / The CBO’s estimates of the effects on employment and family income
Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the income of most workers … Continue reading
Philippine / Unemployment rate in 2013 had worsened to 27.5 percent
It is saddening that despite the rapid economic expansion for the past two years, millions of Filipinos remain unemployed. This is what economists refer to as “jobless growth,” a phenomenon that afflicts many developing countries, debunking the myth that economic growth automatically translates to employment and poverty reduction. Halfway into his six-year term, President Aquino … Continue reading
Grads Job Search in UK / Nearly 40% still hunting after six months
Nearly 40 per cent of graduates are looking for work six months after graduation, while a quarter are still unemployed after a year, according to new research. Conducted by the graduate recruitment website Totaljobs.com, the survey also shows that almost half of all graduates wished they had steered clear of academic courses, opting for ‘something … Continue reading
Coal Miner in US / Jobs are vanishing
Coal mine employment in the U.S. has dropped nearly 20% in the past two years as the industry comes under intense competition from natural gas, according to data from SNL energy. From a recent high of about 94,000 in Q4 2011, mining jobs have fallen to about 77,000. Last year, natural gas matched coal in … Continue reading
Latin American youth / Trapped by unemployment and informality says ILO
Latin America’s jobs-creating economic growth has not been strong enough in recent years to improve the employment outlook for young people trapped by unemployment and informality, the ILO said. “We are faced with a political challenge that calls for a determination to apply innovative and effective policies to confront labour market precariousness,” said Elizabeth Tinoco, … Continue reading
Labor markets improved overall across the advanced economies finds The Conference Board International Labor Comparisons
Labor markets improved overall across the advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons program for December 2013. The unemployment rate in December fell in three of the nine countries compared, was unchanged in four, and rose in two. The U.S. and Japan … Continue reading
China / Balanced economic reforms for continued job creation
Taken at face value, China’s recent 2013 jobs data present a healthy picture of growing employment. The government reported a “record high” 13.1 million new urban jobs were created and, despite slowing GDP, headline unemployment remained relatively low at 4.1 percent. This led government spokesman Li Zhong to assert that the Chinese economy is “more … Continue reading
Russia / Big Companies Cutting Staff
A slew of announced layoffs is rattling the domestic labor market, threatening to further undermine a weak economy. Russia’s two largest banks, state-owned Sberbank and VTB, have joined the country’s biggest carmaker, AvtoVAZ, in declaring significant staff reductions in the upcoming months. VTB Group disclosed last month that it would cut employees and the salaries of remaining staff at its core business, VTB bank, and its investment arm, … Continue reading
India / Without jobs, the demographic dividend will be a disaster
Jobs in India grew by just 2.2% between 2010 and 2012. Economist Alakh N Sharma, director of the Institute of Human Development and principal author of India Labour and Employment Report 2014, spoke with Rema Nagarajan about why unemployment is rising, the people it hits hardest, manufacturing as a remedy — and how competitiveness goes … Continue reading
Obamacare and Jobs / CBO Says Relax Everyone
Last week, the non-partisan Congressional Budget Office issued its analysis of Obamacare — the Affordable Care and Patient Protection Act — finding that under the act, about 2.5 million workers would leave the workforce by 2024 as a result of the act’s provisions. Republicans immediately seized on the CBO finding, claiming the report proved that … Continue reading
US / What about the Employment Rate ?
The unemployment rate gets all the press, but the employment rate has been improving lately too. The number of Americans working as a proportion of the overall populace — called the employment-population ratio — rose to 58.8% in January. That level was last consistently seen in 2009. Still, the measure remains well below its prerecession … Continue reading
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