Job Market Monitor
Unemployment
US – June 2015 Job Report vs October 1977
So what exactly did the United States look like in October 1977, the last time the labor-participation rate was this low? Obviously the most important question is what Americans were listening to. (The month’s top songs were Debby Boone’s “You Light Up My Life” and—seriously—Meco’s “Star Wars Theme/Cantina Band.”) The American economy at the time … Continue reading
Job Report in US – Payroll employment rises by 223,000 in June; unemployment rate declines to 5.3%
Editor’s note: While the establishment survey says that payroll employment rose by 223,000 in June, the household survey indicates that the number on people employed dropped by 56 000. This kind of result is not unusual, but it tends to come near turning points. Next months and other indicators will tell us. Total nonfarm payroll employment … Continue reading
Germany – Unemployment to historic low
The number of unemployed people in Germany fell for the ninth consecutive month in June, dropping to a level unseen since the country reunited about 25 years ago. Also, the number of job vacancies rose to new heights. The current acceleration of business activity in Europe’s largest economy created 50,500 new jobs in June, driving … Continue reading
Ireland – Unemployment rate stays on six-year low
The unemployment rate was unchanged in June after falling to a six-year low of 9.7 per cent last month. According to new figures from the Central Statistics Office, the seasonally adjusted unemployment rate was down from 11. 4 per cent when compared to the same month a year earlier. The number of unemployed people fell … Continue reading
Unemployment in Europe – The lowest rate recorded in the euro area since March 2012, but 4.707 million young persons were unemployed
The euro area1 (EA19) seasonally-adjusted unemployment rate was 11.1% in May 2015, stable compared with April 2015 , and down from 11.6% in May 2014. This is the lowest rate recorded in the euro area since March 2012. The EU28 unemployment rate was 9.6% in May 2015, also stable compared with April 2015 and down … Continue reading
SA – Ten-point reform plan out of the unemployment crisis
The SA Institute of Race Relations (IRR) published a 10-point plan on Wednesday to tackle South Africa’s mounting unemployment crisis. The IRR said that South Africa’s very high unemployment, which had risen from 3.67 million in 1994 to 8.74 million this year, necessitated a series of radical steps. “Job security for some has been achieved … Continue reading
Indonesia – A bleaker picture than the notoriously unreliable official numbers
Indonesian companies are shedding jobs as they grapple with the weakest economic growth in six years, adding to the troubles facing President Joko Widodo, who was elected last year on pledges to dig the country out of a rut. Government data might suggest no cause for alarm – unemployment was 5.81 percent in February, up … Continue reading
Aboriginal in Canada – Unemployment rate twice as high as for the nonAboriginal population in 2011 report finds
The Aboriginal population has experienced mixed outcomes for the core economic indicators. • Aboriginal labour force participation and employment rates have declined while unemployment rates have increased from 2006 to 2011, reflecting the impact of the 2008-09 economic downturn. The gap in employment and participation rates between the Aboriginal and non-Aboriginal populations increased as Aboriginal … Continue reading
Job Report in UK – Employment up 114,000 compared with the previous quarter
There was an increase in employment and a fall in unemployment, when comparing February to April 2015 with the 3 months to January 2015. Main points for February to April 2015 Comparing the estimates for February to April 2015 with those for the 3 months to January 2015, employment continued to rise and unemployment continued … Continue reading
Canada for March 2015 – 5.9 Unemployed people for every job vacancy
Canadian businesses reported 232,000 job vacancies in March, up 23,000 compared with 12 months earlier. For every job vacancy, there were 5.9 unemployed people, down from 6.7 in March 2014. This decline in the ratio was the result of both fewer unemployed people and more job vacancies. Unemployment-to-job vacancies ratio declines in four provinces In Quebec, there were 6.6 unemployed people for every job vacancy, down from 10.0 in March 2014, … Continue reading
Mobile Phones of the Unemployed – The number of calls dropped by 51 percent study finds
A study co-authored by MIT researchers shows that mobile phone data can provide rapid insight into employment levels, precisely because people’s communications patterns change when they are not working. Indeed, using a plant closing in Europe as the basis for their study, the researchers found that in the months following layoffs, the total number of … Continue reading
Online talent platforms could add $2.7 trillion McKinsey finds
Labor markets around the world haven’t kept pace with rapid shifts in the global economy, and their inefficiencies have taken a heavy toll. Millions of people cannot find work, even as sectors from technology to healthcare struggle to fill open positions. Many who do work feel overqualified or underutilized. These issues translate into costly wasted … Continue reading
Nigeria – Unemployment to 7.5% (from 6,4%)
The National Bureau of Statistics, NBS, has disclosed that the nation’s unemployment rate has jumped to 7.5% in the first quarter of the year 2015 compared to 6.4% in the fourth quarter of 2014. This was contained in a report made available to journalists over the weekend. NBS explained that the number of unemployed persons … Continue reading
Canada Job Report for May – Employment increased by 59,000
Employment increased by 59,000 in May, driven by gains in the number of private sector employees. The number of people participating in the labour market also rose in May, leaving the unemployment rate unchanged at 6.8% for the fourth consecutive month. Since the beginning of 2015, employment gains have averaged 20,500 per month. In the 12 months to May, employment increased by 192,000 (+1.1%), the … Continue reading
Unemployment rate in Pakistan – At 13 year high
According to Pakistan Bureau of Statistics (PSB), unemployed people have been increased to 1.5 million since Nawaz Sharif has assumed the office in 2013. The current unemployment rate is higher than the fiscal year 2002. During the last year of Musharraf’s tenure, unemployment rate was 5.2% that rose to 6.2% in 2013 in the end … Continue reading
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