Job Market Monitor
Unemployment
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
COVID-19 Lockdowns and Jobs in Europe – ‘Furloughed’ workers accounted for around two-thirds of the decline in hours worked at the height of the crisis
The [Coronavirus Disease 2019] COVID-19 pandemic closed or limited many economic activities in 2020, with far-reaching impacts on the labour market. Employment losses at the outset of the pandemic were sharper than those experienced during the global financial crisis. Even greater declines in hours worked arose as a result of the widespread state-supported furloughing of … Continue reading
Labour Markets in 2022 – ILO downgrades its forecasts (+video)
The International Labour Organization (ILO) has downgraded its forecast for labour market recovery in 2022, projecting a deficit in hours worked globally equivalent to 52 million full-time jobs, relative to the fourth quarter of 2019. The previous full-year estimate in May 2021 projected a deficit of 26 million full-time equivalent jobs. While this latest projection … Continue reading
Job Report in US (November 2021) – Employment rose by 210,000, below expectations
Total nonfarm payroll employment rose by 210,000 in November, and the unemployment rate fell by 0.4 percentage point to 4.2 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, transportation and warehousing, construction, and manufacturing. Employment in retail trade declined over the month. Household Survey Data … Continue reading
COVID-19, Immigrants and Unemployment in US -The gap has closedr
As businesses across the United States return to near-normal operations, public attention has shifted to reports of labor shortages and rising prices. But even as hiring picks up in the wake of the COVID-19 outbreak, the labor market is not fully healed. Some 9.5 million U.S. workers were unemployed in June 2021, compared with 5.7 … Continue reading
Covid and Unemployment in US – Education still matters
The first graph shows the unemployment rate by four levels of education (all groups are 25 years and older) through March 2021. Note: This is an update to a post from a few years ago. Unfortunately this data only goes back to 1992 and includes only three recessions (the stock / tech bust in 2001, … Continue reading
Work after Covid in US – Listening to Americans
In addition to the devastation the coronavirus pandemic has wrought in terms of lives lost, it has been one of the most economically disruptive crises in U.S. history. Among the most urgent concerns is the rising number of the long-term unemployed. In January 2021, four million Americans had been unemployed for six months or more, … Continue reading
COVID in US – Six facts about how the COVID-19 recession is affecting labor force participation and unemployment
Here are six facts about how the COVID-19 recession is affecting labor force participation and unemployment among American workers a year after its onset. Chosen excerpts by Job Market Monitor. Read the whole story @ A year into COVID-19, U.S. labor market recovery is far from complete | Pew Research Center
Job report in US (March 2021) – Employment rises by 916,000 and unemployment edges down to 6.0%
Total nonfarm payroll employment rose by 916,000 in March, and the unemployment rate edged down to 6.0 percent, the U.S. Bureau of Labor Statistics reported today. These improvements in the labor market reflect the continued resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic. Job growth was widespread in March, led by gains in … Continue reading
Covid and Long-Term Unemployment in US – About four-in-ten unemployed workers had been out of work for more than six months
About four-in-ten unemployed workers had been out of work for more than six months in February 2021, about double the share in February 2020. Chosen excerpts by Job Market Monitor. Read the whole story @ Long-term U.S. unemployment rose sharply under COVID-19; Asian Americans hit hardest | Pew Research Center
Job Report in US (February 2021) – Employment rose by 379,000 and and unemployment little changed at 6.2 percent
Total nonfarm payroll employment rose by 379,000 in February, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. The labor market continued to reflect the impact of the coronavirus (COVID-19) pandemic. In February, most of the job gains occurred in leisure and hospitality, with smaller gains in temporary help services, … Continue reading
COVID and US Labor Markets in 2020 – Blacks and Hispanics have had slower employment recoveries than whites, even accounting for differences in education and occupation
It is no secret that in the spring of 2020 the COVID-19 pandemic disrupted U.S. labor markets more severely and more quickly than at any point in living memory. A blizzard of research papers, newspaper stories, and calls for economic relief have documented the severe crash in employment in the spring of 2020, and the disproportionate … Continue reading
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