Job Market Monitor
income
Family Income and Higher Education in Canada – Larger increase in earnings among youth from lower-income families
A postsecondary education has been identified as a key factor in labour market success, but youth from lower income families are far less likely to pursue a college or university education than their counterparts from higher income families. To address this gap, student loans and grants, as well as education savings incentives are largely designed … Continue reading
Median After-Tax Income in Canada, 2017 – Rose 3.3% to $59,800
Median after-tax income of Canadian families and unattached individuals rose 3.3% to $59,800 in 2017, following two years without growth. This gain was the result of a combination of factors, including higher wages and salaries among non-senior families (where the highest income earner was less than 65 years of age), and an increase in child benefits. In 2018, the Canadian government … Continue reading
Returns to Skills – Larger in countries with faster prior economic growth
The availability of new information about earnings and skills in a broader set of 32 countries permits closer investigation than previously possible of the hypothesis that education has a stronger payoff when there is faster economic change. It turns out that the range of differences in labor-market returns to skills across countries is even larger … Continue reading
Canada – 28 to 34 year-olds are actually the wealthiest such generation in history Finances report says
28- to 34-year-olds are actually the wealthiest such generation in Canadian history says a new analysis from the federal Finance Department. “The current generation of young Canadians is, on average, wealthier than previous generations of young Canadians,” says the confidential report, though with some cautionary notes. “Young Canadians … born in the first half of the 1980s had … Continue reading
Income from the Platform Economy in US – Increased 47-fold over three years
Americans experience tremendous income volatility, and that volatility is on the rise. Income volatility matters because it is hard to manage. The typical household faces a shortfall in the nancial bu er necessary to weather this volatility. Moreover, the decline in real wages since 2009 for all income groups except the top 5th percentile means … Continue reading
Canada – Age rather than gender becoming the new income divide finds the Conference Board
Canadians have become accustomed to tales of woe about the plight of young adults: rising tuition fees and crippling student debts; university graduates without jobs or unable to find anything more challenging than serving coffee; even those with good jobs and incomes stuck in their parents’ basements because of the high cost of housing. These … Continue reading
US – Growth since the Great Recession has improved the fortunes of the most affluent Fed says
Economic growth since the Great Recession has improved the fortunes of the most affluent Americans even as the incomes and wealth of most American families continue to decline, the Federal Reserve said Thursday. For the most affluent 10 percent of American families, average incomes rose by 10 percent from 2010 to 2013. For the rest … Continue reading
The Middle Class in US – Wealth fell 35 percent from 2005 to 2011
A new US Census Bureau report shows that the median household’s net worth fell from $106,591 to $68,839 from 2005 to 2011: Chosen excerpts by Job Market Monitor. Read the whole story at Middle class households’ wealth fell 35 percent from 2005 to 2011 – Vox.
Getting Older in UK – Salary down by £400 per year in 50s
Employees reach their highest average earning potential in their 40s, with a possible salary drop of £400 per year in their 50s, according to research by Friends Life. The research is based on Office for National Statistics (ONS) figures analysed by age and sector. It reveals the average salary for senior managers and directors between … Continue reading
UK – Household incomes fall by 13% for those aged 22-30 finds the Institute of Fiscal Studies
People aged 22-30 saw their household incomes fall by 13% between 2007 and 2013, while those between 31 and 59 saw a 7% drop, according to the Institute of Fiscal Studies (IFS). Employment prospects for the under-30s were also hit harder. Living standards are set to be a key issue in the run-up to next … Continue reading
Immigrants in Canada – Things changed for arrivals in the 2000s: the entry earnings advantage decreased continuously Stat Can finds
A new study shows that the relative earnings advantage that university-educated immigrants have over their less-educated counterparts shortly after their arrival in Canada has narrowed over the last 30 years. However, university-educated immigrants continue to experience stronger earnings growth then their less-educated counterparts, with time spent in Canada and, hence, have higher earnings over the medium-term. This … Continue reading
Human capital doesn’t alone reduces income inequality research finds
Most developing countries have made a great effort to eradicate illiteracy. As a result, the inequality in the distribution of education has been reduced by more than half from 1950 to 2010. However, inequality in the distribution of income has hardly changed. This column presents evidence from a new dataset on human capital inequality. The … Continue reading
US Recovery and Real Income Growth / The top 1%: 31% – the bottom 99%: less than 1%
New data reveal that the top 1% enjoyed real income growth of 31% between 2009 and 2012, compared with growth of less than 1% for the bottom 99% Continue reading
Canada / Top 1 per cent earn 7 times Canadian median finds the National Household Survey
Canadians in the top 1 per cent are paid more than $191,000 a year, according to the National Household Survey, which takes a closer look at how governments take from the rich and give to the poor Continue reading
Measuring Income Inequality / The Standard Gini Coefficient : a ‘rightist’ measure
Recall that the Gini coefficient is a number between zero and one that measures the degree of inequality in the distribution of income in a given society (named after an Italian statistician, Corrado Gini). The coefficient is zero for a society in which each member receives exactly the same income; it reaches its maximum value … Continue reading
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