Job Market Monitor
Labor force
US Job market loosing momentum : unemployment rate was unchanged at 8.2 percent while nonfarm payroll employment continued to edge 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
Employers attitudes to older workers are changing along with their desire to remain in the workforce
When the Treasury published its first Intergenerational Report (IGR) in May 2002, it alerted governments to the looming problem of an ageing population. A smaller proportion of the population would be working to support a growing proportion in retirement and relying on government services, notably health care, and income support. It was a fiscal disaster … Continue reading
Tea Party : Unemployment Higher Among Native Born than Immigrants
The unemployment rate for immigrant workers in the United States is lower than the unemployment rate for native-born workers, according to data from the Bureau of Labor and Statistics (BLS). BLS’s data show that unemployment among foreign born workers in May 2012 was 7.4 percent, while for native-born workers it was 8.0 percent. The data … Continue reading
In The News | Labor Market Mismatch and, Job Cuts Surge 67% in U.S., Teachers Layoffs Continue, Olympus Cuts 2,500 jobs, Benefits Cuts For Seasonal Workers in Canada and NJ and More
Unemployment is a labor market mismatch – Economics – AEI aei.org – After an unexpected upswing at the beginning of this year, the labor market appears to be back in the doldrums again. The month-on-month employment increases of 200,000-240,000 workers in December,… JobMarketMon US May Job Cuts Surge 67% From A Year Ago -Challenger – WSJ.com … Continue reading
In The News | SMEs in Gulf economy, Africa, Skills Gap, Layoffs, Flat U.S. Wages, Sunday papers axed, Improving EI and More
SME role in Gulf economy, jobs growth ‘woefully low’ gulf-times.com – Small and medium enterprises’ (SMEs) contribution to the overall Gulf economy and employment sector is woefully low and need a big push for the region to enhance its economic diversification, the … JobMarketMon Flat U.S. Wages Help Fuel Rebound in Manufacturing – WSJ.com online.wsj.com – Joey … Continue reading
In The News | Baby Boomers and the Unemployment Rate , Skills Gap, EI Changes, Layoffs, Older Workers and Plastic Surgery for a Job and More
Jobs: The number of baby boomers retiring is holding down the unemployment rate – UPI.com upi.com – President Obama can thank baby boomers at least in part for the drop in the U.S. unemployment rate, with the first post-World War II generation hitting retirement age at a rate of 10,000 a day. Une… JobMarketMon Macau labor … Continue reading
Gallup | U.S. Unemployment Down by 0.1% in Mid-May due to decline in participation rate
U.S. unemployment, as measured by Gallup without seasonal adjustment, declined slightly to 8.2% in mid-May from 8.3% in April. Gallup’s seasonally adjusted unemployment rate is 8.5% in mid-May, down slightly from 8.6% last month. Much of this decline may be due to a decline in the workforce participation rate — Americans 18 years or older … Continue reading
36% Of working-age Americans not currently working
What is the current percentage of working-age Americans, eligible to participate in the civilian labor force, but not currently working? Answer: 36.3 percent. That’s the worst labor participation rate in three decades, and it’s part of the worst employment picture we’ve seen since the Great Depression. Labor force participation is the number we should really … Continue reading
Declining Participation Rate | Any bounceback in the participation rate will be fairly small
The Chart Below from Calculated Risk shows the actual annual participation rate and two forecasts based on changes in demographics. Now that the leading edge of the baby boom generation is starting to retire, the participation rate is declining and will probably continue to decline for the next 20 years. Note: the yellow line is … Continue reading
Srinking Labor Force | Women are pouring out of the job market
Among the new employment figures the Labor Department released Friday morning is an obscure one that’s ripe for politicking: the labor force participation rate. It measures the percentage of the population age 16 and above who are actually working. The labor force participation rate fell last month to 63.6 percent, its lowest level since 1981. … Continue reading
Skrinking Labor Force Participation | Unemployment rate would be 11.1% or even 13.1%
If the same percentage of adults were in the workforce today as when Barack Obama took office, the unemployment rate would be 11.1 percent. If the percentage was where it was when George W. Bush took office, the unemployment rate would be 13.1 percent. Source: Read More @ The incredible shrinking labor force – The Washington Post.
100 Million Working Age Americans Not Working
The unemployment crisis in America is much worse than you are being told. Did you know that there are 100 million working age Americans that do not get up in the morning and go to work? No wonder why it seems like there are so many people that do not have jobs! According to the … Continue reading
The 86 million uncounted unemployed – May. 3, 2012
There are far more jobless people in the United States than you might think. While it’s true that the unemployment rate is falling, that doesn’t include the millions of nonworking adults who aren’t even looking for a job anymore. And hiring isn’t strong enough to keep up with population growth. As a result, the labor … Continue reading
The number of Disabled Americans Workers receiving SSDI jumped 22%
The number of workers receiving SSDI jumped 22 percent to 8.7 million in April from 7.1 million in December 2007, Social Security data show. That helps explain as much as one quarter of the decline in the U.S. labor-force participation rate during the period, according to economists at JPMorgan Chase & Co. and Morgan Stanley. … Continue reading
U.S. | The number of people not in the labor force at an all time high
The “official” unemployment rate ticked down to 8.2% in March, and the actual unemployment rate ticked down to 14.8%. That’s nice. Except for the fact that people who are willing & capable of working are leaving the workforce en masse… The number of people not in the labor force is now at an all time … Continue reading
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