Job Market Monitor
Recession
US / Twice the time to get a job than before
During the recession that began in December 2007 and ended in June 2009, millions of employed individuals lost their jobs and the ranks of the unemployed nearly doubled. In the aftermath, the number of jobless who were unemployed for 27 weeks or more continued to rise for about a year until early 2010, when it began to level off. In 2007, … Continue reading
US / Women passed men in the number of jobs regained in the recovery
Institute for Women’s Policy Research (IWPR) analysis of the BLS payroll data over the entire course of the recession and recovery shows that in November women passed men in the number of jobs regained in the recovery as a share of jobs lost in the recession. As of November, women have regained 54 percent (1.5 million) … Continue reading
Eurozone recession to continue into 2013 says Markit
he rate of contraction in the eurozone economy eased slightly in November, according to a closely-watched survey. But the region is still in line for another quarter of recession with further contraction likely in early 2013, according to Markit, who produced the survey. Its Eurozone Composite Purchasing Managers’ Index (PMI), which measures business activity, rose … Continue reading
UK / Job preservation better than in past recessions
The UK labour market has done far better than in past recessions in terms of preserving jobs. Does that mean it has been a triumph for the so-called “Anglo-social” model, partway between the liberal US system and more regulated continental European markets? Not quite. Taking the good and bad sides of Britain’s experience, it has … Continue reading
Euro zone / A second recession since 2009
The debt crisis dragged the euro zone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday. The two leading economies both managed 0.2-per-cent growth in the July-to-September period. But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the … Continue reading
US – Job Growth During the Recovery
“Congress in recent years passed a number of bills intended in part to jump-start a recovery in the labor market from the recession that began in December 2007” writes Linda Levine in Job Growth During the Recovery (Adapted excerpts by JMM to follow). What was the labor market’s response to these measures ? How well the … Continue reading
Greece – The biggest cumulative loss of output of a developed-country economy in at least three decades
Greece is spiraling into the kind of decline the U.S. and Germany endured during the Great Depression, showing the scale of the challenge involved in attempting to regain competitiveness through austerity. The economy shrank 18.4 percent in the past four years and the International Monetary Fund forecasts it will contract another 4 percent in 2013 … Continue reading
US – Is the recovery really here now? Yes indeed.
It seems real this time. 1. The unemployment rate is down: In U.S., Unadjusted Unemployment at 7.3% in Mid-October U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup’s … Continue reading
South Africa – Jobs Recession ?
“Most of the job losses during August were in the formal sector, which shed 14 382 jobs,” Adcorp said in a statement. “Permanent employment fell by 7 688 during the month, whereas agency employment increased by 1 083.” According to the Adcorp Employment Index, employment fell at an annualised rate of 0.23%, following sharp declines … Continue reading
US – 5 Reasons Why the Job Market is Going In Recession
US Job Market is nearly In recession Continue reading
US – The Low-Wage Recovery and Growing Inequality , a report by the National Employment Law Project
This report updates National Employment Law Project’s previous analyses of job loss and job growth trends during and after the Great Recession. The authors find that during the recession (2008 Q1 to 2010 Q1), employment losses occurred throughout the economy, but were concentrated in mid-wage occupations. By contrast, during the recovery (2010 Q1 to 2012 … Continue reading
US – The increase in postsecondary enrollment was especially high
“The rising cost of college education and high unemployment levels among recent college graduates are raising the question “Is college worth its cost?” in the minds of many Americans. A recent study published by the Associated Press found that one out of every two recent college graduates is jobless or underemployed, suggesting maybe college isn’t worth the money. Yet, job losses in the … Continue reading
Europe – The downturn has been under way for years
The euro zone is hurtling back into recession, economists declared after official figures this week portrayed a shrinking economy. But by some measures the downturn has been under way for years. With the exception of Germany, none of Europe’s biggest economies have returned to the level of economic output they had at the beginning of … Continue reading
Eurozone – On brink of double-dip recession
The eurozone is on the brink of following Britain into a double-dip recession after its economy shrank between April and June. GDP across the 17-nation bloc fell by 0.2% in the second quarter of this year and economists believe the downturn is continuing. Better-than-expected figures from Germany and France were offset by sharp contractions elsewhere, … Continue reading
Young American – Away from commitment
As the Great Depression shaped the attitudes of a generation from 1929 until the early years of World War II, so have the financial crisis and its aftermath affected the outlook of young consumers like Anselmo, said Cliff Zukin, a professor of public policy and political science at the Edward J Bloustein School of Planning … Continue reading
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