Job Market Monitor
Job Gap
The Job Gap to Come – In need to create 734 million decent jobs between 2010 and 2030
Globally, an estimated 734 million jobs will be required between 2010 and 2030 to accommodate recent and ongoing demographic shifts, account for plausible changes in labour force participation rates, and achieve target unemployment rates of at or below 4 percent for adults and at or below 8 percent for youth. Two key features of the … Continue reading
US – The national jobs gap relative to November 2007 has been closed in July 2017
With [July] employment report, we can report that the national jobs gap relative to November 2007 has closed (see figure 1). This indicates that, by our calculations, nearly a full decade after the start of the recession, employment has returned to its demographically adjusted pre-recession level. This does not mean that all harm to the … Continue reading
Global Jobs Gap – Dell to help entrepreneurs create 600M jobs
Elizabeth Gore, entrepreneur-in-residence at Dell, discusses Dell’s initiative to support entrepreneurs in creating jobs throughout the world. She speaks on “Market Makers.” Chosen excerpts by Job Market Monitor. Read the whole story at Dell’s Plan to Help Entrepreneurs Create 600M Jobs – Bloomberg Business.
Global Job Gap – It continues to widen ILO finds
The world economy continues to expand at rates well below the trends that preceded the advent of the global crisis in 2008 and is unable to close the significant employment and social gaps that have emerged. The challenge of bringing unemployment and underemployment back to pre-crisis levels now appears as daunting a task as ever, … Continue reading
US – The overall employment ratio in major metro areas was lower in 2013 than in 2007
In 2007, about 79 million of 106 million adults aged 25 to 64 in the nation’s 100 largest metro areas were working, equating to an employment ratio of 74.8 percent (Figure 1). This ratio dipped in 2010 to 72 percent, as 1 million fewer adults were working that year, even though their overall numbers had … Continue reading
The Job Gap in US – 5.6 million jobs as of August 2014 finds The Hamilton Project
Each month, The Hamilton Project calculates America’s “jobs gap,” or the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who newly enter the labor force each month. As of the end of August 2014, our nation faces a jobs gap of … Continue reading
The Global Workforce Crisis: crippling labor shortages and chronic labor surpluses
Demographic risk is one of the most insidious of all megatrends threatening the global economy, but its impact throughout the world is neither simultaneous nor uniform. For our research [The Boston Consulting Group], we performed simulations on 25 major economies to quantify the extent of labor shortages and surpluses for 2020 and 2030. Overall, by … Continue reading
US – The Job Gap is still near 7.0 million
Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a … 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
Yellen – Job gap means rates stay low
“The larger the shortfall of employment or inflation from their respective objectives, and the slower the projected progress toward those objectives, the longer the current target range for the federal funds rate is likely to be maintained,” Yellen said today to the Economic Club of New York. The gap, in both cases, is large, with … Continue reading
Job openings in US – Highest in more than six years
The number of job openings in the U.S. recently hit the highest level in more than six years, a trend that could precede faster employment growth in coming months, according to a Tuesday analyst note. There were 4.17 million job openings in February -– the most since January 2008 — up 4% from a year … 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 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
Michigan / Jobs Gap to be filled by early 2020s
“Despite the solid recovery to date, there is still a fair amount of ground to be made up after the job loss suffered during the prolonged recession of the past decade,” said U-M economist George Fulton. “That said, Michigan does appear to be positioned for a longer run of economic prosperity.” The state lost 857,700 … 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
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