Job Market Monitor
Employment
China / Help for college graduates in their job hunts
China’s central government on Wednesday outlined measures to help college graduates in their job hunts amid a grave employment situation this year. According to a statement released after a State Council meeting presided over by Premier Li Keqiang, about 6.99 million college students will graduate this year, adding pressure to the employment situation. The meeting … Continue reading
US / When will the Jobs Gap be filled ?
Below is an update of the graph showing job losses from the start of the employment recession, in percentage terms, with a projection assuming the current rate of payroll growth will continue. This suggests that employment will exceed the pre-recession peak around July 2014 (Private employment will reach a new high around March of 2014). … Continue reading
Employment, Obamacare and Education
Even though the headline unemployment rate is falling, a large part of that drop is due to the precipitous plunge in the participation rate, as well as a rise in low-paying jobs. Curiously, it now seems a disproportionately high level of temporary jobs is no longer a precursor to economic recovery but is a new … Continue reading
Canada / Employment was little changed – the unemployment rate remained at 7.2%.
Following a decline the previous month, employment was little changed in April and the unemployment rate remained at 7.2%. Compared with 12 months earlier, employment increased 0.9% or 163,000, all in full time. The total number of hours worked rose by 1.5% over the same period. Chart 1 Employment Provincially, employment grew in Alberta, while it fell in Manitoba, New Brunswick and Newfoundland … Continue reading
Australia / 50,100 jobs added unemployment down
The unemployment rate has confounded most economists by falling from 5.6 to 5.5 per cent. The Bureau of Statistics labour force survey estimates that 50,100 jobs were added in April, with 34,500 full-time positions and 15,600 part-time jobs created. Economist forecasts in a survey by Bloomberg centred on only 11,000 jobs being created which was … Continue reading
India / A “demographic dividend” ?
ONE of India’s bigger private-sector employers can be found in Patna, the capital of Bihar, a poor, populous state in the east of the country. Narendra Kumar Singh, the boss, has three gold rings on his right hand and arms big enough to crush rocks. His firm, Frontline, has 86,000 people on its books. They … Continue reading
New Zealand / Unemployment Rate drops at 6.2 per cent
The job market stormed ahead in the March quarter, with unemployment tumbling to 6.2 per cent in the March quarter, compared with a revised 6.8 per cent in the December quarter. In a rebound from bad figures in the December quarter, there were 38,000 more people employed this quarter – up 1.7 per cent, Statistics … Continue reading
Americans Give Priority to Jobs and the Economy over Guns and Immigration Reform Gallup finds
Americans put reforming immigration and reducing gun violence — the focus of much of the attention on Capitol Hill in recent weeks — at the bottom of a list of 12 priorities for Congress and the president to address. Americans instead say leaders in Washington should give highest priority to jobs and the economy, followed … Continue reading
Young American / Where the Jobs Are and Aren’t
In three regions – the upper Midwest, New England and the area around Washington – the job market for younger adults is considerably stronger than in the rest of the country. These three regions are the closest thing to an exception to the trend I described in a Sunday column: the sharp decline in employment … Continue reading
Shanghai / Grads struggle to find good job
A majority of university and college students set to graduate in the city next month are still looking for a job due to the grim employment situation. Only 29 percent of 178,000 students who are to graduate this June have signed an offer, been admitted to postgraduate studies or decided to study abroad as of … Continue reading
US / Service dependent economy delays job recovery
The recession was the deepest one since the Great Depression. But slow job recoveries have become a defining trend of the past three recessions. It took the economy 37 months from the end of the 2001 recession to add back the jobs it lost. For the recession before that, which ended in 1991, it took … Continue reading
Sequestration / No college grads need apply
At a time when governments at all levels are trimming staffs, college graduates hoping to land public-sector jobs are facing another hurdle: sequestration. Career counselors and recruiting experts say the federal spending cuts that went into effect March 1 are causing several federal agencies—many of which are having to furlough employees as a result of … Continue reading
US / The number of self-employed at all-time low
The unemployment rate in the United States is at a four-year low, but another labor stat is shrinking in not such a favorable way: a decline in the number of self-employed Americans suggests the personal business will soon be a thing of the past. Since the Great Depression, the number of Americans who identify themselves … Continue reading
China / Is This the End of Cheap Labor?
It’s been the lament of everyone for years now: Cheap Chinese labor is killing the job market. With lower wages and lax regulation, the giant sucking sound we heard was manufacturing jobs headed from Sheboygan to Shenzhen. But now China’s new found riches are starting to turn in on themselves in the form of much … Continue reading
(Update2) US / Employment rose by 165,000 in April, unemployment rate to four-year low, but still …
Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services,food services and drinking places, retail trade, and health care. Household Survey Data The unemployment rate, at 7.5 percent, changed little in April but … Continue reading
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