Job Market Monitor
Unemployment
Job Report in UK (2023) – The labour market has continued to cool
This morning we got (almost) the full set of labour market data up to the end of 2023. The release sheds light on a whole host of important policy issues, from how tight the labour market is to the scale of the rise in worklessness due to ill health. So, what have we found out? … Continue reading
Long-Term Unemployment – Innovative approaches to tackle it
Innovative approaches to tackle long-term unemploymentLong-term unemployment remains a structural challenge for most OECD countries. Despite major efforts to address this issue, the efficiency and effectiveness of many existing active labour market policies are limited for jobseekers who face major vulnerabilities and have no ties to the labour market. Therefore, there is a need for … Continue reading
Job Report in Canada – Surging population growth and GDP is on track to post a 7th consecutive per-capita decline
The Canadian labour market data is notoriously volatile, but details underlying the January upside employment growth (and downside unemployment rate) surprise were also firm. The increase in hours worked is consistent with GDP ticking higher early in 2024, and adds to early signs that housing markets have perked up. Growth in the economy still looks … Continue reading
Canada – Students and new graduates are bearing the brunt of the labour market downturn
The magnitude and pace of Canada’s rising unemployment rate are consistent with trends observed during past recessions. Unlike prior recessions, though, the increase to-date has come without a surge in layoffs – it’s rather taking more time to absorb newly available workers as the population grows rapidly. But it’s students and new graduates rather than … Continue reading
Employment in EU (2023 edition) – Labour markets have demonstrated remarkable resilience in 2022
In the light of the importance of skills for the EU economy and the European Year of Skills, the 2023 annual Employment and Social Developments in Europe (ESDE) review, entitled “Addressing labour shortages and skills gaps in the EU”, provides evidence on persistent labour shortages and changing skills needs in the EU. The report considers … Continue reading
Monetary Policy and Labor Market – Employment response roughly twice as large when supply taken into account
“Policies to support labor supply are not the domain of the Fed: Our tools work principally on demand.” –Federal Reserve Chairman Jerome Powell, November 30, 2022 This paper offers new empirical evidence of a sizeable labor supply response to monetary policy. Using high-frequency identified monetary policy shocks from FOMC announcements and Fed Chair speeches, … Continue reading
Ireland’s National Skills Bulletin 2022 – The growth in employment has not only led to an intensification of existing skills shortages, but also the emergence of additional shortages across a range of occupations
Source : National Skills Bulletin 2022
Job Report in US (July 2022) – Total nonfarm payroll employment rose by 528,000 and unemployment edged down to 3.5 percent
Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rateedged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Jobgrowth was widespread, led by gains in leisure and hospitality, professional andbusiness services, and health care. Both total nonfarm employment and the unemploymentrate have returned to their February 2020 pre-pandemic … Continue reading
Job Report in US (June 2022) – Employment rose by 372,000 unemployment remained at 3.6 percent
Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care. Household Survey Data The unemployment rate was 3.6 percent for the fourth month in a row, and the … Continue reading
Employment in Europe in 2021 – Lockdown transforms labour markets
The COVID-19 pandemic continued to be a defining force in the lives and work of Europeans for a second year in 2021, and Eurofound continued its work of examining and recording the many and diverse impacts across the EU Member States. Living and working in Europe 2021 provides a snapshot of the changes to employment, work and … Continue reading
Job Report in US (May 2022) – Employment rose by 390,000 and unemployment remained at 3.6 percent
Total nonfarm payroll employment rose by 390,000 in May, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and business services, and in transportation and warehousing. Employment in retail trade declined. Household Survey Data In May, the unemployment … Continue reading
Unemployment in OECD (April 2022) – Dropping for the first time below the pre-pandemic rate
Two years since the COVID-19 pandemic began, the unemployment rate in the OECD area fell to 5.2% in February 2022 (from 5.3% in January), dropping for the first time below the pre-pandemic rate recorded in February 2020 (see Figure 1) and reaching the lowest level since the start of this data series in 2001. The … Continue reading
Job Report in UK (February 2022) – The labour market is tight and participation is weak
Tuesday’s labour market data showed that many of the trends of recent months remain in play. The labour market tightened further, participation continued to disappoint and real pay packets kept falling, while nominal pay growth hasn’t yet shown clear signs of accelerating. The labour market is tight The labour market is now very tight on … Continue reading
Labor Market in US – It reflect the economy’s robust recovery from the coronavirus pandemic
Evgeniya Duzhak, regional policy economist at the Federal Reserve Bank of San Francisco, stated her views on the current economy and the outlook as of February 10, 2022. The improvements in the labor market reflect the economy’s robust recovery from the coronavirus pandemic. The unemployment rate in January stands at 4.0%, close to the natural … Continue reading
Job Report in US (January 2022) – Employment rose by 467,000 and unemployment little changed at 4.0
Total nonfarm payroll employment rose by 467,000 in January, and the unemployment rate was little changed at 4.0 percent, the U.S. Bureau of Labor Statistics reported today. Employment growth continued in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing. Household Survey Data Both the unemployment rate, at … Continue reading
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