Job Market Monitor
Unemployment
Australia August 2014 Job Report – The largest monthly increase in jobs on record
The largest monthly increase in jobs on record has pushed the unemployment rate back down to 6.1 per cent. An estimated 121,000 jobs were added in August, which is well ahead of any previous monthly jobs gain recorded in ABS figures that go back to 1978. Economists had expected the unemployment rate to fall back … Continue reading
Youth Unemployment in Uganda – Demands for government action
With Uganda’s unemployment rate at near 83 percent, the government is being challenged by a group of former students who have formed the National Association of the Unemployed. Their demands are for the government to sponsor and create jobs for Uganda’s large youth population. Uganda has one of the highest rates of unemployment on the … Continue reading
US Workforce Investment Act (WIA) – Positive earnings and employment effects for the adult funding stream and mostly negative estimates for the dislocated worker stream research finds
Our examination of the impacts of receiving WIA training rather than solely core and/or intensive services in two anonymous states has yielded a wealth of important findings both substantive and methodological. We find differences in probabilities of training receipt as a function of race, age and education. Substantial unconditional differences by race largely, but not … Continue reading
Canada Job Report for August – Be very careful with the jobs numbers
Derek Holt, VP at Scotiank Economics, urged clients on Friday to approach Statistics Canada’s latest reading on the country’s labour market with caution, calling some details in the report “very fishy.” According to the agency, the Canadian economy unexpectedly lost 11,000 jobs in August from July, and the number of private-sector employees fell sharply. The … Continue reading
Beveridge Curve “Shift” in US – There is no shift to begin with says Federal Reserve Bank of Cleveland
Observers have followed the Beveridge curve during the recession and the recovery to glean some insight into potential structural changes in the labor market. Whether or not a shift implies an actual structural change—specifically, a decline in the matching efficiency of the labor market—is still debatable. However, one thing is clear: there is no shift … Continue reading
Unemployment in Spain – August sees the first rise in unemployment after six months of improvement
A total of 8,070 people joined Spain’s jobless queues in August, the first rise in unemployment after six months of improvement, official figures released on Tuesday show. The rise means there were 4,427,930 Spaniards registered as looking for work at the country’s unemployment offices at the end of August, Spain’s employment ministry figures show. Chosen … Continue reading
Unemployment in OECD – 12.1 Million more than before the crisis and wages stagnate (video)
Unemployment will remain well above its pre-crisis levels next year in most OECD countries, despite modest declines over the rest of 2014 and in 2015, according to a new OECD report. The Employment Outlook 2014 says that average jobless rates will decrease slightly over the next 18 months in the OECD area, from 7.4% in mid-2014 … Continue reading
UK – Take account of unemployment before raising interest rates says TUC to Bank of England
TUC boss Frances O’Grady has urged the government to widen the Bank of England’s remit to take account of unemployment before Threadneedle Street considers raising interest rates. Speaking before the start of the TUC’s annual congress, when the Bank governor, Mark Carney, will make a speech, O’Grady said the success of the Bank’s interest rate … Continue reading
US Job Report for August 2014 – A disappointing employment increase of 142,000
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, both the unemployment rate (6.1 percent) and the number of unemployed … Continue reading
Canada Job Report for August 2014 – Employment increased by 81,000, mostly in part-time work the last 12 months
But economy shed 11,000 jobs last month… And take care about the way StatCan writes it! From the official press release Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged… … Continue reading
US – Employability makes unemployment to trickles down to lower-skilled workers research finds
Unemployment “trickles down” to America’s poorest and most vulnerable because, during recessions, higher-income workers with more education take jobs that are below their qualification level, according to new research. Such underemployment, in turn, leaves fewer job openings for which the so-called lower-skilled workers are qualified. “Some high-skill workers move down the occupational ladder in order … Continue reading
Europe’s Job Market vs US – Doing better
Compare unemployment rates, and America’s job market looks much stronger than Europe’s. The U.S. rate for August, being released Friday, is expected to be a near-normal 6.1 percent. In the 18 countries that use the euro currency, by contrast, it’s a collective 11.5 percent. Yet by some measures, Europe is doing better. It’s been more … Continue reading
Nigeria – 4.5 Million new jobs required annually report says
A report by the Nigeria Stability and Reconciliation Programme, NSRP, indicates that Nigeria should create 4.5 million jobs annually to tackle the high level of unemployment in the country. It added that concerted effort made towards attaining the target would create enduring benefits to Nigeria and the entire African continent. The report, which was made … Continue reading
Youth unemployment in Australia – The Brotherhood of St Laurence has just released a new report
The Brotherhood of St Laurence has today released a new report on the growing scourge of youth unemployment and underemployment in Australia, which is at the worst level since records began in 1978, with more than 580,000 Australians aged 15 to 24 either under-employed or unemployed: Today, young people are more likely to be underemployed … Continue reading
US Labor Secretary on Long-Term Unemployed – It keeps me up at night because their stories are so compelling
Perez said the plight of the long-term unemployed – or those without work for at least 27 weeks — is the one issue that has caused him to lose sleep. He has met with many such workers since becoming Labor Secretary about a year ago. “It keeps me up at night because their stories are … Continue reading
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