Job Market Monitor
Unemployment
Germany – Unemployment rate at 6.7 percent in August for the eighth consecutive month
Germany’s unemployment rate fell to 6.3 percent in October as the labor market in Europe’s biggest economy continued to gain steam. The Federal Statistical Office said Thursday 2.733 million people were jobless in October, 75,000 fewer than in September, when the unemployment rate was 6.5 percent. Adjusted for seasonal trends, the jobless rate stood at … Continue reading
UK – 15.9% of households where no adults work
The percentage of households where no adults work was 15.9%, down 1.4 percentage points from a year earlier and the largest fall since comparable records began. The percentage of households where all adults work was 55.3%, up 1.5 percentage points from a year earlier. Of the regions in England and countries of the UK, the … Continue reading
UK – Long-term unemployed shouldn’t be treated as a different category when assessing the level of slack in the labour market research finds
The extent of labor market slack in the UK economy is an ongoing question given the recent unexpectedly rapid fall in the unemployment rate. In the latest data release for February–April, which is referred to as March 2014, it was 6.6 percent, down from 7.9 percent in May 2010 and 7.8 percent in March 2013. … Continue reading
Australia – Labor market remained subdued but had stabilized somewhat this year says RBA
Australia’s central bank said the labor market remained subdued but had stabilized somewhat this year, adding it had based its assessment on a range of data given the volatility in the official labor force survey.In minutes of its Oct 7 policy meeting, the Reserve Bank of Australia (RBA) also reiterated that the most prudent course … Continue reading
Spain – Unemployment lowest since 2011
Spain’s unemployment rate fell to the lowest since the end of 2011 in the third quarter as its economy turned into one of the fastest-growing in the euro region. Joblessness fell to 23.7 percent in the three months through September from 24.5 percent in the previous quarter, Spain’s national statistics institute INE said in Madrid … Continue reading
Sweden – To stop attacking the unemployed and instead attack unemployment
Sweden’s new government is targeting a “paradigm” shift for job creation in the largest Nordic economy as it raises spending and scrapped plans for reaching the surplus target. The new Social Democratic-led government today unveiled plans to spend almost 20 billion kronor ($2.7 billion) over the next two years to cut Scandinavia’s highest unemployment rate. … Continue reading
35 Years Of Unemployment Benefits In US – Extended benefits unemployment rate by about one-third percentage point in the most recent recession
During the 2008-2009 recession, U.S. unemployment insurance (UI) benefits were extended to unprecedented levels, with UI duration increasing from 26 weeks—the regular duration—to as much as 99 weeks in some states, prompting a lively debate in policy and academic circles about the adverse effects of such extensions on the search behavior of job seekers and … Continue reading
Grads in Canada – The expectation gap
Too many young people flounder around the margins of their chosen field, bouncing from unpaid internship to short term contract to coffee shop job. Youth unemployment continues to hover stubbornly around 13 per cent, only 2 per cent lower than its peak during the recession and double the national average. And the unemployment rate doesn’t … Continue reading
Monetary Policy in US – Underutilization of labor worse than the official statistics suggest
Federal Reserve policy makers are missing a key element as they assess the health of the labor market: data that includes whether those who are employed are overqualified for their job or would like to work more hours. As a result, the “significant underutilization of labor resources” that Fed officials highlighted last month as they … Continue reading
Unemployment in US – The largest drop in the rate between a presidential and midterm elections on records
Midterm elections often end up serving as a referendum on the president’s performance. Given this, I’ve been surprised not to hear Democrats more aggressively trumpeting the improving economy. After all, the unemployment rate has fallen by two percentage points since the last election, and at 5.9 percentage points it is far lower than many had … Continue reading
Job Report in US – Total nonfarm payroll employment increased by 248,000 in September and unemployment down at 5.9 percent
Total nonfarm payroll employment increased by 248,000 in September, and the unemployment rate declined to 5.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, retail trade, and health care. Household Survey Data In September, the unemployment rate declined by 0.2 percentage point to 5.9 percent. The number … Continue reading
Universities in Denmark – Cutting thousands of positions within faculties that don’t lead to work
Denmark is addressing youth unemployment by revolutionising the university system. It is cuttingthousands of positions within faculties that don’t lead to work, starting from humanities and social science courses, which will be first in line for the chop. There are currently 15,000 Danish students enrolled on courses with poor employment prospects. The government wants to … Continue reading
US – Unemployment threatens family stability studies find
Two new studies illustrate how long-term unemployment hurts not only workers, but their families, reports Eric Pianin at the Fiscal Times. A report from the John J. Heldrich Center for Workforce Development chronicles how the long-term unemployed (those out of work for more than six months) have struggled during the recovery. One in every three … Continue reading
Europe – Try the improved European Unemployment Insurance scheme simulator
Following on from our previous blog post on this topic, we invite you to try out our improved European Unemployment Insurance (EUI) scheme simulator which now includes a line graph to chart the evolution of the net flows from the scheme and its situation, as well as a heat map of all European countries. Chosen … Continue reading
Unemployment in Germany – Steady at 6.7 percent in September
German joblessness increased unexpectedly in September but the jobless rate remained low and a surge in August retail sales offered hope that private consumption can help prop up Europe’s largest economy in the third quarter. The number of people out of work rose by 13,000 to 2.918 million – its highest level since January – … Continue reading
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