Job Market Monitor
Unemployment
Job Report in US, September 2017 – Employment down by 33,000 after hurricanes
The unemployment rate declined to 4.2 percent in September, and total nonfarm payroll employment changed little (-33,000), the U.S. Bureau of Labor Statistics reported today. A sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey. Chosen excerpts by Job … Continue reading
Job Report in Canada, September 2017 – Employment and unemployment essentially unchanged
Employment was essentially unchanged in September (+10,000 or +0.1%). The unemployment rate remained at 6.2%, matching the low of October 2008. Chart Unemployment rate Chosen excerpts by Job Market Monitor. Read the whole story at The Daily — Labour Force Survey, September 2017
Euro Area, August 2017 – The unemployment rate was 9.1% with 754 million young persons unemployed under 25
The euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in August 2017, stable compared to July 2017 and down from 9.9% in August 2016. This remains the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate was 7.6% in August 2017, down from 7.7% in July 2017 and from 8.5% … Continue reading
Job Report in Canada, August 2017 – Employment was little changed, unemployment rate at 6.2%, matching the most recent low of October 2008
Employment was little changed in August (+22,000 or +0.1%). The unemployment rate declined by 0.1 percentage points to 6.2%, matching the most recent low of October 2008, the month prior to the 2008-2009 labour-market downturn. An increase in the number of people working part time (+110,000) was mostly offset by a decline in the number of people employed full time (-88,000). While … Continue reading
Labour slack in the EU – Around 50 million people
The unemployment rate is an important and well-publicised measure of labour market performance in developed market economies. It is currently high in the EU compared with other developed countries and still well above its historical average nearly a decade a er the beginning of the global financial crisis. But focusing exclusively on the unemployment rate … Continue reading
Unemployment in Europe (July 2017) – At 9.1% for the Euro area and 3.792 million under 25 unemployed in the EU28
The euro area (EA19) seasonally-adjusted unemployment rate was 9.1% in July 2017, stable compared to June 2017 and down from 10.0% in July 2016. This is the lowest rate recorded in the euro area since February 2009. The EU28 unemployment rate was 7.7% in July 2017, stable compared to June 2017 and down from 8.5% … Continue reading
Job Report in US, July 2017 – Employment increased by 209,000
Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, professional and business services, and health care. Household Survey Data Both the unemployment rate, at 4.3 percent, and the number … Continue reading
Job Report in Canada, July 2017 – Little change in employment and unemployment declines to 6.3%
Following two months of notable increases, employment was little changed in July (+11,000 or +0.1%). As the number of people searching for work edged down, the unemployment rate declined by 0.2 percentage points to 6.3%. This is the lowest rate since October 2008, just prior to the onset of the 2008-2009 labour market downturn. In the 12 months to July, employment rose by 388,000 (+2.1%), mostly … Continue reading
The Fed’s Report to the Congress, July 12, 2017 – The labor market has continued to strengthen
Semiannual Monetary Policy Report to the Congress (July 12, 2017) Chair Janet L. Yellen (Before the Committee on Financial Services, U.S. House of Representatives, Washington, D.C.) Chairman Hensarling, Ranking Member Waters, and other members of the Committee, I am pleased to present the Federal Reserve’s semiannual Monetary Policy Report to the Congress. In my remarks … Continue reading
Job Report in UK, March to May 2017 – The unemployment rate at 4.5%, the lowest since 1975
The unemployment rate (the proportion of those in work plus those unemployed, that were unemployed) was 4.5%, down from 4.9% for a year earlier and the lowest since 1975. Estimates from the Labour Force Survey show that, between December 2016 to February 2017 and March to May 2017, the number of people in work increased, … Continue reading
Long-Term Unemployed – A signal of lower motivation leading to lower hiring chances
Recent evidence from large-scale field experiments has shown that employers use job candidates’ unemployment duration as a sorting criterion. In the present study, we investigate the mechanisms underlying this pattern. To this end, we conduct a lab experiment in which participants make hiring decisions concerning fictitious job candidates with diverging unemployment durations. In addition, these … Continue reading
Job Report in US, June 2017 – Employment increased by 222,000 and unemployment little changed at 4.4 percent while labor force increased
Total nonfarm payroll employment increased by 222,000 in June, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in health care, social assistance, financial activities, and mining. Household Survey Data In June, the unemployment rate, at 4.4 percent, and the number of unemployed persons, … Continue reading
Job Report in Canada, June 2017 – Employment rose by 45,000 in June, mostly in part-time work
Employment rose by 45,000 in June, mostly in part-time work. The unemployment rate was 6.5%, down 0.1 percentage points from the previous month. Compared with 12 months earlier, there were 351,000 (+1.9%) more people employed. Most of the growth was in full-time work (+248,000 or +1.7%), while part-time employment was also up (+103,000 or +3.0%). The total number of hours worked increased 1.4% over this period. In … Continue reading
Finland – Is the unemployment rate a good measure of labour market slack?
Observations that the official unemployment rate does not describe labour market slack sufficiently broadly have led to the development of broadened measures of unemployment. These types of measures are regularly used, at least in the United States and have also occasionally been explored by the ECB. Such measures seek to include, in addition to people … Continue reading
Italy – 85,000 people applied for 30 jobs at a bank
Italy’s chronic unemployment problem has been thrown into sharp relief after 85,000 people applied for 30 jobs at a bank – nearly 3,000 candidates for each post. With youth unemployment nudging close to 40 per cent and the overall level at 11 per cent, steady jobs are in great demand. But even the managers at … Continue reading
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