Job Market Monitor
labor market
Labor Market Fluidity and Wage Growth – Differences in labor market fluidity account for half of the faster wage growth experienced by high fluidity economies
Job-to-job labor market flows vary substantially across countries. In Labor Market Fluidity and Human Capital Accumulation (NBER Working Paper 29698), Niklas Engbom finds that greater labor market fluidity — more frequent job changes per worker—is associated with greater human capital accumulation as workers acquire new skills. Greater fluidity also allows workers to find jobs where … Continue reading
The New Labor Market in US – Do the widely used measures undercount ?
The CPS and ATUS questions used to classify labor force status are similar, and both rely on the words “work” and “job.” Some researchers feel that these questions fail to resonate with gig workers and those in informal employment arrangements. They argue that, as a result, two widely used measures could be considerably undercounted—the total … Continue reading
The Fed’s Report to the Congress, July 12, 2017 – The labor market has continued to strengthen
Semiannual Monetary Policy Report to the Congress (July 12, 2017) Chair Janet L. Yellen (Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.) Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. In my remarks … Continue reading
US – Americans have increasingly positive perceptions of the job market and what it offers
Americans have increasingly positive perceptions of the job market and what it offers. In 2012, an average of 19% of people said it was a good time to find a quality job. For the first three quarters of 2016, an average of 42% said the same. Among those in the labor force (employed, unemployed or … Continue reading
Labor Market in US – It is doing quite well but earnings inequality continues to rise
In the aggregate the US labor market is doing quite well. Unemployment is currently below 5%, and real weekly earnings of full-time workers increased from the 2000 cyclical peak to the current period of near full employment. The difficulties lie behind the aggregates. Earnings inequality continues to rise, with the growth in earnings most prevalent … Continue reading
US – The Labor Market Conditions Index is going in the wrong direction
Fed officials, and other economists, have been grappling with the divergence between relatively weak reported economic growth and relatively strong job growth. Those at the Fed have largely taken the view that labor market data is more accurate, which has been true over time. Wrong Direction The Federal Reserve created an index to better measure … Continue reading
US – Labor market fluidity is declining research finds
We document a clear downward trend in labor market fluidity that is common across a variety of measures of worker and job turnover. This trend dates to at least the early 1980s if not somewhat earlier. Next we pull together evidence on a variety of hypotheses that might explain this downward trend. It is only … Continue reading
From a Labor Economy to a Talent Economy
With Byron Auguste, Managing Director, Opportunity@Work and Robert Hohman, CEO, Glassdoor.
The 2015 job market in US before the last report
Overall, they will show a labor market that continues to recover from the Great Recession. At the same time, a lack of progress on a number of fronts will suggest some serious longer-term problems, which existed before 2008 but were exacerbated by the recession and the slow (though steady) recovery since then. First, the good … Continue reading
Online talent platforms could add $2.7 trillion McKinsey finds
Labor markets around the world haven’t kept pace with rapid shifts in the global economy, and their inefficiencies have taken a heavy toll. Millions of people cannot find work, even as sectors from technology to healthcare struggle to fill open positions. Many who do work feel overqualified or underutilized. These issues translate into costly wasted … Continue reading
EU – A Single Labor Market has not been accomplished yet
A Single European Labor Market, particularly involving the free movement of workers within Europe, has been a goal of the European community since the 1950s. While a Single European Labor Market may create certain drawbacks, it certainly entails benefits that are likely to outweigh the downsides. Labor market experts agree that free labor mobility is … Continue reading
Japan – Three measures of slack in labor markets
How likely are Japan’s workers to see a bumper salary increase? The latest labor market data — showing a 1.3 percent annual increase in wages in January — is a hopeful sign. A more detailed answer comes from examining alternative measures of slack in the labor market. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
US – Labor markets became much less fluid in recent decades says Cato Institute
As measured by flows of jobs and workers across employers, U.S. labor markets became much less fluid in recent decades. We document a large, broad-based decline in these labor market flows, drawing on multiple data sources. An aging workforce and a secular shift away from younger and smaller employers can partly account for the long-term … Continue reading
Canada – The job market is experiencing more weakness than is implied by headline unemployment rate
A senior economist at the Toronto Dominion Bank has gone a step farther. Randall Bartlett has created an index that takes into account all of the unpublished or under-reported data that StatsCan, the Bank of Canada and the U.S. Federal Reserve collect to measure the health of the job market. He calls his yardstick the … Continue reading
US – Labor Market Trends For 2015
Below are my top ten predictions for the workplace for 2015. 1. Companies hiring Generation Z for internships. 2. More millennials are taking leadership roles. 3. Honesty becomes a revered leadership trait. 4. The skills gap continues to widen. 5. The continuous job search picks up. 6. Mobile hiring and the mobile job search explode. … Continue reading
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