Job Market Monitor
Unemployment
US – Long-Term unemployment does not harden into structural unemployment finds the Economic Policy Institute (EPI)
This paper finds that regardless of duration, involuntary job loss leads to significant and long-lasting economic damage to individuals and their families. Specific findings on microeconomic scarring include: Excess unemployment during the Great Recession will likely lead to long-run wage losses just for displaced high-tenure workers (those who had the same job for more than … Continue reading
Ph.D. – What students should know about the job market
Below I have outlined a few things I wish I had been told at the beginning of this journey. 1. Know how bad the job market sucks and why. 2. Find out what can get you one of those precious few jobs. 3. Prepare for the academic path to blow up in your face. Chosen … Continue reading
US – We should focus on the problems of real people says a Fed economist (on leave)
The U.S. job market remains far from full health despite recent progress, and requires active efforts by policy makers to help it heal, a Federal Reserve economist said Wednesday.Andrew Levin, currently on leave from the central bank while working at the International Monetary Fund, played down the idea that much of the weakness in the … Continue reading
For an European unemployment insurance – A Commission Report
The best idea for an EMU-level automatic fiscal stabiliser is in my view a scheme where fiscal stimulus is provided to countries of the monetary union based on developments in their short-term unemployment. Unemployment is an indicator whose big advantages are that it very closely follows developments in the economic cycle, it is easily understandable, … Continue reading
UK – Employment prospects for 2012/13 first degree graduates has dramatically improved
Employment prospects for 2012/13 first degree graduates dramatically improved compared to 2011/12 graduates. The proportion of graduates working in professional and managerial jobs in the UK had increased and the unemployment rate decreased from 8.5% to 7.3%. Read more about the outcomes of 2012/13 graduates from six subject areas covering 28 subjects. Find out more about how mature graduates do in … Continue reading
Finland – The real unemployment rate is 12 percent says the Pellervo Economic Research Institute
Finland’s real unemployment rate would surpass 12 percent if the so-called “hidden unemployed” were to join the job market, according to a think tank researcher. The term hidden unemployed refers to unemployed persons who are not registered as actively looking for work. The rapid increase in the number of unemployed persons who’ve abandoned the search … Continue reading
Taiwan in August – Unemployment at 4.08 percent, 14-year low
As the economy continued to improve, Taiwan’s unemployment fell to 4.08 percent in August, the lowest level for that month in 14 years, the Directorate General of Budget, Accounting and Statistics (DGBAS,主計總處) said Monday. The figure for August represents a monthly increase of 0.06 percentage points but a drop of 0.25 points year-on-year, according to … Continue reading
US – More than 20% laid off the past five years are still unemployed study finds
More than 20% of Americans laid off the past five years are still unemployed and one in four who found work is in a temporary job, according to a survey out Monday. The report underscores that despite a sharp drop in long-term unemployment recently, many people out of work at least six months are still … Continue reading
Unemployment in Netherlands – The rate falls for fourth month in a row
The Dutch unemployment rate fell for the fourth month in a row in August, the national statistics office CBS said on Thursday. In total, 13,000 people found work, taking the jobless rate to 8%. Unemployment has now fallen by an average of 14,000 a month over the previous three months, the CBS said. At the … Continue reading
US – An increasing number of people have been to prison or who have been convicted of a felony
This surprisingly large group might have difficulty finding work even in a good job market, making it harder for the Fed to stimulate the economy back to full strength. As a result of policies intended to curb violent crime and drug use, more and more people have been arrested, convicted of a felony, or sent to prison in recent decades, especially … Continue reading
UK May to July 2014 Job Report – Employment continued to rise
Key Points for May to July 2014 Comparing the estimates for May to July 2014 with those for February to April 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement since late 2011/early 2012. There were 30.61 million people in work. This was 74,000 more than … Continue reading
Canada – For every job vacancy, there were 5.8 unemployed people in June
Canadian businesses reported 235,000 job vacancies in June, up 15,000 compared with 12 months earlier. For every job vacancy, there were 5.8 unemployed people, down slightly from 6.2 in June 2013, the result of more job vacancies. Unemployment-to-job vacancies ratio declined in Ontario and British Columbia In Ontario, there were 7.1 unemployed people for every job vacancy, down from 8.4 in June 2013, as there were more job vacancies in the … Continue reading
The Grad Job Market in UK – Not fully recovered despite drop in unemployment
The recent annual Destination of Leavers of Higher Education survey confirmed that graduates who left university last summer entered a rather better jobs market than their peers from the year before. As the Higher Education Statistics Agency (HESA) shows with this chart, the overall employment rate for UK and EU graduates from a full-time first … Continue reading
South Korea – Unemployment up at 3.5 per cent in August
South Korea’s unemployment rate inched up in August as agriculture and banking sectors continued shedding jobs, government data showed on Friday (Sep 12). The seasonally adjusted jobless rate rose to 3.5 per cent, up from the previous month’s 3.4 per cent, Statistics Korea said. via S Korea unemployment inches up in August – Channel NewsAsia.
Indigenous workers in Canada – Unemployment rates are much higher
Unemployment rates for Indigenous workers are much higher than for non-Indigenous Canadian born workers, and are comparable to that of new Canadians. As you can tell by the graph below, the recession was more severe and lasted longer for Indigenous workers and new Canadians. So whenever we’re talking about labour market strategies and good jobs, … Continue reading
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