Job Market Monitor
Recession
US Job Market / “Jobless Recoveries” are likely in the future finds Brookings (Video)
In each of the three most recent U.S. recessions, the unemployment rate has stayed high for longer and longer durations, increasingly resembling the experience of many West European countries in the 1980s Continue reading
Greece / Unemployment hits new record at 27.9 pc with with 58.8 pc for youth
The unemployment rate rose to 27.9 percent of the workforce in June, with 58.8 percent of young people jobless Continue reading
Europe / A Baby Recession ?
An interesting and forward looking study from the Eurostat on the demographic fallout from the current crisis predicting a so-called ‘baby recession’ in Europe Continue reading
Recession / Mothers Are Tougher on Kids
A down economy can impact family life. But an uptick in strict maternal behavior stems more from anticipation of hard times rather than actual exposure Continue reading
UK / The Great Recession could be called the “Long Recession”
The current recession is represented by the red line. It is called the Great Recession but could be called the “Long Recession” as it surpasses in length anything before Continue reading
Job Search in India / The current slowdown may be the worst ever
India, the world’s second-most populous country and home to the world’s second largest workforce has a problem. That this is the worst job market since liberalisation in terms of severity, duration, sweep and scale Continue reading
Italy / Recession Hits A Record Duration
Italy’s recession has now extended into an eighth consecutive quarter, meaning it has lasted a record two years Continue reading
UK / A never seen recession: Employment has stayed remarkably, high productivity – output per worker – has dived
We have all grown used to the fact that the past few years have been different from any previous period in the last century. Output has stayed lower for longer than in any previous recession: in 2013, real national income is still lower than it was in 2007. This of course has driven public borrowing … Continue reading
US / Employment Lags
The American economy may be the world’s biggest, but when it comes to job creation since the recession hit at the end of 2007, it is far from a leader. Indeed, contrary to the widespread view that the United States is an island of relative prosperity in a global sea of economic torpor, employment in … Continue reading
The UK ‘Jobs Gap’ / More than 800,000
The UK is more than 800,000 jobs short of the amount it would need to restore employment rates to those seen before the recession, a study from independent think tank the Resolution Foundation has found. While the number of people in employment had climbed by 160,000 since 2008 to nearly 30 million, this positive news … Continue reading
The 70s / Did we need a terrible recession? asks Krugman
What we did have was a wage-price spiral: workers demanding large wage increases (those were the days when workers actually could make demands) because they expected lots of inflation, firms raising prices because of rising costs, all exacerbated by big oil shocks. It was mainly a case of self-fulfilling expectations, and the problem was to … Continue reading
Michigan / Jobs Gap to be filled by early 2020s
“Despite the solid recovery to date, there is still a fair amount of ground to be made up after the job loss suffered during the prolonged recession of the past decade,” said U-M economist George Fulton. “That said, Michigan does appear to be positioned for a longer run of economic prosperity.” The state lost 857,700 … Continue reading
Eurozone in recession for 1.5 years as France double dips
Euro area GDP down by 0.2% and EU27 down by 0.1% and -1.0% and -0.7% respectively compared with the first quarter of 2012 GDP fell by 0.2% in the euro area1 (EA17) and by 0.1% in the EU271 during the first quarter of 2013, compared with the previous quarter, according to flash estimates2 published by Eurostat, … 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
Ireland / Under-45s more hit by recession finds ESRI
Those aged under 45 have been affected “dramatically” more by the property crash and recession than those 45 and over, according to a new research paper published yesterday by the Economic and Social Research Institute, a Dublin-based think tank. When comparing a range of indicators over the half-decade to 2009/2010, the report described the contrast … Continue reading
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