Job Market Monitor
Recession
The Euro Area Double Dip Recession
The latest reading of composite PMI for the 17-country region fell to 46.7 this month, even worse than an earlier flash reading of 47.4. Source: Read More @ The Euro Area Economy Is Deteriorating At A Disastrous Pace – Business Insider.
Spain enters in recession helped by austerity
Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond. It is the second recession in just over two years for the euro zone’s fourth largest … Continue reading
Recession-Proof Industries | Only 2 Industries Have Recovered All The Jobs Lost
Only 2 Industries Have Recovered All The Jobs Lost In The Recession – Business Insider Business Insider looks at the jobs recovery by various industries. The table below shows that the Leisure & Hospitality and Mining industry have recovered all the jobs lost during the Great Recession. The recovery has produced 1.25 million Professional Service jobs, … Continue reading
UPDATE | The cry of an innocent | David Cameron is disappointed by his “remarkable achievement”
Cameron’s Remarkable Achievement – NYTimes.com When David Cameron became PM, and announced his austerity plans — buying completely into both the confidence fairy and the invisible bond vigilantes — many were the hosannas, from both sides of the Atlantic. Pundits here urged Obama to “do a Cameron”; Cameron and Osborne were the toast of Very … Continue reading
Stiglitz reiterates : Austerity Pushes Europe ‘Suicide’
Europe Pushed to ‘Suicide’ on Austerity, Stiglitz Says – Bloomberg Nobel Prize-winning economist Joseph Stiglitz said Europe is in a “dire” situation as a focus on austerity pushes the continent toward “suicide.” “There has never been any successful austerity program in any large country,” Stiglitz, 69, told reporters in Vienna yesterday. “The European approach definitely … Continue reading
Wage Growth in the U.S. Will Feel Effects of Great Recession for Years to Come | The Conference Board
The Great Recession has confronted U.S. workers with an extended buyer’s market in jobs, according to a new Executive Action Report from The Conference Board, leading to overall wage growth between 2008 and 2010 that was the weakest since the 1960s. Feeling the Pain: Wage Growth in the United States examines prevailing trends in recent … Continue reading
The cry of an innocent | David Cameron is disappointed by UK double-dip recession
Britain’s return to recession is “very, very disappointing”, Prime Minister David Cameron said today, but he insisted the Government will stick to its programme of austerity and deficit reduction. The Office for National Statistics today announced the 0.2% decline in gross domestic product (GDP) in the first quarter of the year which, after a fall … Continue reading
The majority of voluntary sector organizations have been impacted by the recession in UK
During 2008 and 2009 the UK experienced the longest post-war recession on record with six consecutive quarters of contraction. This most immediately and visibly impacted upon the private sector. But subsequent reductions in public spending amidst a period of low growth have increasingly impacted upon the public and voluntary sectors. At the beginning of 2010, 59% of charities reported that … Continue reading
Academic economists played a big role in causing the crisis says Joseph Stiglitz
Academic economists played a big role in causing the crisis. Their models were overly simplified, distorted, and left out the most important aspects. Those faulty models then encouraged policy-makers to believe that the markets would solve all the problems. Before the crisis, if I had been a narrow-minded economist, I would have been very pleased … Continue reading
Number of long-term unemployed older workers is 5 times greater
During the recession and its aftermath, the number of long-term unemployed older workers more than quintupled, the greatest percentage increase out of all age groups, from 325,000 to 1.8 million. In 2011, more than half of older jobless workers were out of work for at least six months. And 4 in 10 older jobless workers … Continue reading
Gender and the Recession in UK | Better outcome for women is the result of a rise of 172,000 in self-employment
Comparing the labour market situation at the outset of the recession with the latest available official data shows that men overall have fared less well than women. By the start of 2012 there were 387,000 fewer men in work (a net fall of 2.4%) than in the first quarter of 2008. By contrast the number … Continue reading
Geithner | Romney words on women job losses are ‘ridiculous’
Top Obama administration aides pushed back Sunday against a charge by Republican presidential challenger Mitt Romney that women have suffered the brunt of the weak economy during the president’s tenure. Treasury Secretary Timothy F. Geithner called Romney’s claim that women have accounted for 92% of the jobs lost since Obama took office “ridiculous and very … Continue reading
UK | Will barely avoid a double-dip recession says Ernst and Young ITEM Club
The UK has narrowly avoided a double-dip recession but will struggle for the rest of the year unless businesses stop hoarding cash and start investing, a forecaster warned today. Emergency measures from the Bank of England, European Central Bank and US Federal Reserve have boosted confidence and stabilised financial markets, pulling the UK back from … Continue reading
Great Recession vs Great Depression : Not as deep but recovery much slower
The causes of the Great Recession were similar to the Great Depression – as opposed to most post war recessions that were caused by Fed tightening to slow inflation – and I’m frequently asked if we could compare the percent job losses during the two periods. Unfortunately there is very little data for the Great … Continue reading
76% feel that the US economy is still in recession
Seventy six percent of respondents said that the economy is “still in recession” while just 21 percent said the recession is over, according to the Post-ABC poll. While 85 percent of Republicans feel the economy is still in recession so do 68 percent of Democrats and 77 percent of independents. Do you think the country’s … Continue reading
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