Job Market Monitor
Great Recession
US – Unemployment Insurance Trust Funds battered by the Great Recession
State unemployment insurance trust funds, the engines that finance jobless benefits for millions of Americans, were battered by the Great Recession and went deep into debt to meet the demand from the unemployed. During good economic times, states aim to maintain large enough balances in the trust funds to pay benefits to jobless workers if … 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
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
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
The Job Gap in US – How many more jobs are needed ?
One of the big questions concerning the U.S. jobs market is how many jobs need to be created to reach full employment? Without knowing that, it’s hard to determine when the nation’s economy will have finally recovered. Figuring out that number is complicated by several uncertainties, including just how many people need jobs and how … Continue reading
The 2007–2009 recession in US / Full-time employment of workers ages 19 to 33 were between 16 and 26 percentage points less finds the BLS
The recession of 2007–2009 resulted in the loss of millions of jobs, although not all sectors of the economy were affected equally. Much has been written about the employment effects of the recession, with many reports focusing on the change in overall or specific sector employment over the course of the recession. However, many of … Continue reading
US – Employment recovery has been historically slow writes Atlanta Fed in its Annual Report
The nation’s labor market has recovered far more slowly after the Great Recession than it did following every other economic downturn since World War II. To be sure, employment growth was promising in 2013, and the unemployment rate declined. Other measures of the labor market remained subdued, however. The compensation to workers—including benefits and adjusted … Continue reading
Long-Term Unemployed in US – Only 11 percent have returned to steady, full-time employment a year later
In “Are the Long-Term Unemployed on the Margins of the Labor Market?” Alan B. Krueger, Judd Cramer, and David Cho of Princeton University find that even after finding another job, reemployment does not fully reset the clock for the long-term unemployed, who are frequently jobless again soon after they gain reemployment: only 11 percent … Continue reading
The Job Gap in US / There are about 1.18 million fewer payroll jobs than before the recession started
This doesn’t include population growth and new entrants into the workforce Continue reading
US Unemployment Rate / What if those who have left the labor force since the start of the Great Recession are counted ?
3.5% of the working-age population has left the labor force since the start of the Great Recession. Should those people be also counted as unemployed? If so, here is what the unemployment rate trend would look like Continue reading
US Labor Market / Has the Great Recession created new behaviour ?
The question is whether the Great Recession had created “behavioral changes” in the labor markets. Continue reading
OECD / Employment rate still 1.4 percentage points below pre-crisis level
The OECD area employment rate – defined as the share of people of working-age who are employed – was 65.1% in the second quarter of 2013, 0.1 percentage point higher than in the previous quarter Continue reading
UI in the US / Extending unemployment benefits increases unemployment research finds
Extending unemployment benefits puts an upward pressure on equilibrium wages, which induces lower vacancy posting by firms and consequently an increase in unemployment research finds. Unemployment in the U.S. rose dramatically during the Great Recession and has remained at an unusually high level for a long time. The policy response involved an unprecedented extension of … Continue reading
US / In 2012 only 15 percent of black male teens and 49 percent of those 20 to 24 were working
These young men represent a tremendous pool of potential talent that deserves the opportunity to rise to greater heights in the labor market and overcome the barriers that constrained the progress of past generations. Continue reading
Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)
The Most Popular Job Search Tools
Even More Objectives Statements to customize
Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office
Job Market Monitor 