Job Market Monitor
Labor force
US / Employment increased by 169,000 in August and and the unemployment rate was little changed
Total nonfarm payroll employment increased by 169,000 in August, and the unemployment rate was little changed at 7.3 percent, the U.S.Bureau of Labor Statistics reported today. Employment rose in retail trade and health care but declined in information. Household Survey Data Both the number of unemployed persons, at 11.3 million, and the unemployment rate, at 7.3 percent, changed … Continue reading
US / Estimates of the unemployment rate in December 2013 and December 2014
The following table is an estimate of the unemployment rate in December 2013 and December 2014 assuming the LFPR stays close to the current level of 63.3% (I looked at 63.0%, 63.3% and 63.6%). The current unemployment rate is 7.5%. Chosen excerpts by Job Market Monitor via Calculated Risk: Labor Force Participation Rate Sensitivity. Related … Continue reading
2050: With fewer people we can’t just get rid of people and hire news ones
Mara Swan shared a map showing the predicted distribution for the estimated world population in 2050. It shows that the population is moving east (which represents a big challenge for values and mind-sets – most of our companies are based on Western and Christian values, yet most of the workforce’s are based on Eastern and … Continue reading
US / Will Labor Force Participation Bounce Back? asks FRBSF
The most recent U.S. recession and recovery have been accompanied by a sharp decline in the labor force participation rate. The largest declines have occurred in states with the largest job losses. This suggests that some of the recent drop in the national labor force participation rate could be cyclical. Past recoveries show evidence of … Continue reading
US / Nearly 6.9 million people out of the labor force want a job
In January, the U.S. Bureau of Labor Statistics significantly reduced its projections for medium-term labor force participation. The revision implies that recent participation declines have largely been due to long-term trends rather than business-cycle effects. However, as the economy recovers, some discouraged workers may return to the labor force, boosting participation beyond the Bureau’s forecast. … Continue reading
US / Why the unemployment rate used to be low
Why did the U.S. unemployment rate used to be so low? (and why it can be very low again) asked Regis Barnichon and Andrew Figura (Adapted choosen excerpts by Job Market Monitor to follow) Between 1979 and 2000, the unemployment rate displayed a secular decline of about 2 ppt and reached 3.8% in April 2000, its lowest value in … Continue reading
Pakistan / Women participation in labour force just 28%
Women participation rate in labour force in Pakistan is only 28 per cent, which is particularly low in the urban areas. Household duties and lack of education are considered by more than 80 per cent Pakistani women as the major reasons for their non-participation in the labour force, said World Development Report 2013, issued by … Continue reading
US / Why Is Labor Force Participation Shrinking?
We noted earlier that the recent drop in labor force participation — the percentage of people 16 or older who are working or looking for work — reflects not only the economic downturn and lack of job opportunities, but also the fact that more baby boomers are hitting retirement age. To measure the effect of … Continue reading
Participation Historical Paterns: The unemployment rate today would be 9.3%
Some people — notably Republican presidential candidate Mitt Romney — have argued that to get the “real” unemployment rate, we should add back all the people who have left the labor force and consider them unemployed. Doing that gives an unemployment rate of around 11%, depending on what month you choose for a baseline. But … Continue reading
Discouraged In Hunt For A Job
The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren’t. Discouraged U.S. Workers, 2008-2012 The labor market … Continue reading
Canada – Youth – An interview with Angella MacEwen, economist at the Canadian Labour Congress
Q. There doesn’t seem to be much of a recovery in the job prospects of young workers. Why does this segment of the labour force continue to lag behind? A: Youth tend to suffer more during a recession, and take longer to recover from its effects. They often lack the experience and / or connections … Continue reading
Australia – Number of employed up 14,000 last month, fourth gain in five months
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) Employment increased 14,000 (0.1%) to 11,512,600. Full-time employment increased 9,200 to 8,073,700 and part-time employment increased 4,800 to 3,439,000. Unemployment decreased 2,500 (0.4%) to 635,100. The number of persons looking for full-time work increased 14,600 to 457,600 and the number of persons looking for part-time work decreased 17,100 to 177,500. … Continue reading
Boomers held 11.3 jobs from age 18 to age 46, nearly half of these jobs held from ages 18 to 24.
The average person born in the latter years of the baby boom (1957-1964) held 11.3 jobs from age 18 to age 46, according to the U.S. Bureau of Labor Statistics. Nearly half of these jobs were held from ages 18 to 24. These findings are from the National Longitudinal Survey of Youth 1979; a survey of 9,964 men … Continue reading
Australia – Employment decreased 27,000 (SA) and unemployment rate increased to 5.2%
SEASONALLY ADJUSTED ESTIMATES (MONTHLY CHANGE) Employment decreased 27,000 (0.2%) to 11,500,500. Full-time employment decreased 33,500 to 8,065,500 and part-time employment increased 6,600 to 3,435,000. Unemployment increased 7,200 (1.1%) to 631,300. The number of persons looking for full-time work increased 7,800 to 438,300 and the number of persons looking for part-time work decreased to 193,000. The … Continue reading
Update 3 – US Job market loosing momentum : unemployment rate unchanged while nonfarm payroll employment is up in June (+80,000)
Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs, and employment in other major industries changed little over the month. Household Survey Data The number of unemployed persons (12.7 million) was essentially … Continue reading
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