Job Market Monitor
Mismatches
Labor Mismatches in US – Three steps to take
Job openings remain dramatically higher than prepandemic levels. Yet the December unemployment data from the US Bureau of Labor Statistics shows that a disproportionate number of minorities, younger workers, and people without four-year degrees remain unemployed. This mismatch may seem intractable, but I’m optimistic from my conversations with CEOs that today’s business leaders can close … Continue reading
Mismatches in UK – As many as half (49%) of UK workers could be in the wrong job
The CIPD’s report Over-skilled and underused: Investigating the untapped potential of UK skills, based on a representative survey of over 3,700 UK employees and online focus groups, explores how well people’s skills are used and developed in the workplace. The survey found that more than a third (37%) of workers have the skills to cope … Continue reading
Skills Gap – Measuring skills mismatch
Skills supply (skills possessed by the labour force) and skills demand (skills demanded by employers) are central concepts in the economic analysis of employment structure and dynamics. The interaction between supply and demand has in turn led analysts to look into another dimension, skills mismatch — a concept that is rapidly gaining in importance for … Continue reading
Around 40% of workers are mismatched by field, trained in a particular field, works in another field, research finds
Field-of-study mismatch occurs when a worker, trained in a particular field, works in another field. This study draws on the Survey of Adult Skills (PIAAC) to explore how skill supply and labour market demand dynamics influence mismatch. It updates cross-national estimates on mismatch and estimates the mismatch wage penalty. Findings suggest that around 40% of … Continue reading
Labour Market Information (LMI) – Working at sectoral level
There are many different ways to assess the scale and nature of changing skills demand. Skills supply also has several facets. Analysis of skills demand and supply and possible mismatches can take many different forms. A sectoral approach to such matters is de ned as one which looks at changing skills needs from the perspective … Continue reading
The Skills gap in US – The available evidence does not support the idea that there are serious skill gaps or skill shortages writes Wharton School’s prof
Overall, the available evidence does not support the idea that there are serious skill gaps or skill shortages in the US labour force. The prevailing situation in the US labour market, as in most developed economies, continues to be skill mismatches where the average worker and job candidate has more education than their current job … Continue reading
China – Unemployment and labour shortage co-exist
Why do labour shortage and high unemployment co-exist in China? I analysed this in my book. More specifically, I explored the matching efficiency in the labour market by estimating the matching function between job offers and job seekers in urban labour markets in China based on search and matching theory. Figure 3 shows the values … Continue reading
Mismatches in US – Something happened in 2008
Something happened in 2008: the Beveridge Curve shifted to the right and stayed that way. That means employers aren’t hiring as many unemployed people as they should be, according to a pre-2008 view of the world. It is also one of the reasons the economy feels like it is still bad, even though the recession … Continue reading
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