Job Market Monitor
mismatch
Post-COVID Skills Mismatch – It is the time to start preparing
The pandemic has transformed working modes. With the ILO estimating that 81% of the global labor force is engaged in a work-from-home experiment, flexible and remote arrangements are likely to become the new normal. In the wake of the crisis, some 75% of global businesses plan to shift at least 5% of employees who previously … Continue reading
EU – Top 5 mismatch priority occupations: shortages
Mismatch priority occupations (MPOs) are those for which a critical shortage, or surplus, has important implications for the national economy (including strategic sectors) and for education and training. Cedefop uses a range of indicators (1) that uncover skill mismatches in the labour market; these are combined with qualitative insights from national experts. MPOs for each … Continue reading
Increased Mismatch in US – Will wages raise ?
U.S. job openings surged to a 14-year high in February but a steady pace of hiring suggested employers are having trouble finding suitable workers, a trend that could put upward pressure of wage growth. Job openings, a measure of labor demand, increased 168,000 to a seasonally adjusted 5.1 million, the Labor Department said in its … Continue reading
Vocational Education – Does more specific education lead to wage penalties ? No study finds
We analyze horizontal mismatch in Switzerland defined as a mismatch between the type of skills acquired by students and the skills required for their job. We investigate the argument in the literature that the more specific an education system is, the higher are the wage penalties due to horizontal mismatch. Switzerland is an ideal case … Continue reading
Skills Mismatch in Europe – Between 25 and 45 per cent of workers in Europe are either over – or under-qualified says ILO
Between 25 and 45 per cent of workers in Europe are either over – or under-qualified for their job, leading to a substantial mismatch between supply and demand in the labour market, a new ILO study says. Covering 24 European countries, the study shows that mismatches between workers’ competences and what is required by their … Continue reading
UK – Talent mismatch costs more than £1bn to employers
Businesses from all the major economies, including the UK, are losing billions of pounds through recruitment errors. This is mainly caused by employees’ inability to adapt and retrain for new roles and industries. PwC and LinkedIn released the study, Adapt to Survive, this week. It looks at a profile of 277 million professionals and 2,600 … Continue reading
The Skills Gap in US – Mismatch across industries and occupations explains at most one-third of the total observed increase in the unemployment rate
Aysegul Sahin, Joseph Song, Giorgio Topa and Giovanni L. Violante develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate in Mismatch Unemployment (Federal Reserve Bank of New York Staff Reports ). They use this framework to measure the contribution of mismatch to the recent rise … Continue reading
US / What explains the yawning gap between jobs open and jobs filled?
Such a structural mismatch may well explain part of the gap, yet it seems unlikely that it explains most of it. A second explanation is that employers are offering jobs at wages that are too low to attract good applicants Continue reading
US / Mismatch increased during the Great Recession finds FRBSL
Mismatch increased during the Great Recession. Mismatch can account for at most 2.72 percentage points of the 5.30-percentage-point increase in the unemployment rate from the beginning of the recession to the unemployment rate peak. Continue reading
It’s not a skill mismatch: Disaggregate evidence on the US unemployment-vacancy relationship
US unemployment seems stuck at an unusually high level of 8%, prompting some to suggest a widespread skills mismatch. This column argues that a skills mismatch is not supported by the evidence. Rather, out of the possible explanations, it seems that any shift in the ratio between unemployment and vacancies is driven by either lower … Continue reading
Canada / CIBC report warns of negative impact of mismatch in job market
A CIBC report released Monday suggests Canada’s economic prosperity is at risk due to a labour market split that sees high-demand positions go unfilled while lower-skilled workers languish in unemployment. “We have people without jobs and jobs without people,” said author and deputy economist Benjamin Tal. The mismatch of companies unable to hire and people … Continue reading
Mismatch across industries and occupations explains at most one-third of the total observed increase in the unemployment rate reveals a study by the Federal Reserve Bank of New York Study
“We develop a framework where mismatch between vacancies and job seekers across sectors translates into higher unemployment by lowering the aggregate job-finding rate” write Aysegul Sahin, Joseph Song, Giorgio Topa, and Giovanni L. Violante in Mismatch Unemployment on newyorkfed.org. How much did mismatch contribute to the dynamics of U.S. unemployment around the Great Recession? To address this question, we … Continue reading
US – Skills Gap a Myth?
A specter haunts the job market. You’ve witnessed it on the campaign trail. You’ve seen it on TV. It is the idea that the skills of U.S. workers don’t match the needs of the nation’s employers. This “skills mismatch” is routinely held up to explain why the unemployment rate is still at 8.2% three years … Continue reading
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