Job Market Monitor
Unemployment
US – It takes people much longer to get back to work today than it did six or seven years ago
More than 3 million U.S. workers remain among the long-term unemployed – those who have been jobless for 27 or more weeks. Their numbers have been falling as the economy picks up, but experts say getting back to work has been tougher in the wake of the most recent recession than it was following the economic … Continue reading
US – Unemployment is falling but still historically high
Six years after the financial panic that nearly sank the U.S. economy, it’s the millions of Americans who aren’t working, or working less than they want to, who pose a challenge to policymakers and a are major contributor to Americans’ persistently sour feeling about the economy. Although the official unemployment rate was down to 6.2% … Continue reading
US Official Unemployment Rate – The rise in nonresponse
A new academic paper suggests that the unemployment rate appears to have become less accurate over the last two decades, in part because of this rise in nonresponse. In particular, there seems to have been an increase in the number of people who once would have qualified as officially unemployed and today are considered out … Continue reading
Germany – Unemployment rate stood at 6.7 percent in August
The unemployment rate stood at 6.7 percent in August after adjustment for seasonal blips, the same rate as in July. But the number of people registered as unemployed edged up by 2,000 to 2.901 million, the Federal Labour Office said in a statement. This was unexpectedly bad. Analysts had been pencilling in a decline this month of about … Continue reading
France – Registered unemployment hits new record
Unemployment in France grew by 0.8 percent in July from a month earlier and saw a year-on-year growth of 4.3 percent, a fresh blow to the Socialists who promised to bring down the rampant number of unemployed people, official figures showed on Wednesday. According to the Labor Ministry’s monthly data, a total of 3.424 million … Continue reading
US Monetary policy – The labor market has yet to fully recover says Yellen
In the five years since the end of the Great Recession, the economy has made considerable progress in recovering from the largest and most sustained loss of employment in the United States since the Great Depression.1 More jobs have now been created in the recovery than were lost in the downturn, with payroll employment in … Continue reading
Unemployment in the US – The rate varied across race and ethnicity groups BLS finds
In 2013, the overall unemployment rate for the United States was 7.4 percent; however, the rate varied across race and ethnicity groups. The rates were highest for Blacks (13.1 percent) and for American Indians and Alaska Natives (12.8 percent) and lowest for Asians (5.2 percent) and for Whites (6.5 percent). The jobless rate was 9.1 … Continue reading
Australia – Unemployment and poor health are linked says the Australian Chamber of Commerce and Industry’s CEO
The Australian Chamber of Commerce and Industry has called on government, business and the wider community to make an extra effort in lifting the participation of marginalised groups into training or work, particularly the young. In a joint address to the National Press Club focussed on the social determinants of health, ACCI CEO, Kate Carnell, … Continue reading
Economics 101 – The three types of unemployment
Economists often refer to three types of unemployment: “frictional”, “cyclical” and “structural”. Cold-hearted economists are not too worried about the first two, which refer to people moving between jobs and those temporarily laid-off during a downturn. The third kind refers to people who are excluded—perhaps permanently—from the labour market. In econo-speak, structural unemployment refers to … Continue reading
Canada’s False Job Report – EI claims on hold while StatCan fixes error
Statistics Canada’s decision to pull its latest jobs report forced officials to put employment insurance claims on hold and triggered a flood of speculation from economists as to what Friday’s updated numbers will reveal. Approvals for EI claims are partly based on regional unemployment rates, but officials say staff will be able to manage the … Continue reading
Australia, Jul 2014 – Unemployment jumps to 12-year high
Australia’s unemployment rate increased by 0.3 percentage points (based on unrounded estimates) to 6.4% in July 2014 (seasonally adjusted). The increased unemployment rate resulted from increased participation with the number of persons in the labour force increasing by 43,400 persons, and the number of employed persons decreasing by 300. The net result was the number … Continue reading
Canada – July 2014 Job Report – Overall employment unchanged, unemployment at 7.0%
Overall employment was unchanged in July, as gains in part-time work were offset by losses in full time. A decline in the number of people searching for work pushed the unemployment rate down 0.1 percentage points to 7.0%. In the 12 months to July, employment increased by 115,000 or 0.7%, with all the growth in part-time work. The total hours worked were unchanged … Continue reading
Unemployment and Education in US – The more, the better
If you have a high school degree, you’re better off; if you’ve started some college, you’re doing better; and if you have a college degree, you’re doing the best of all. So, that’s the proof in the pudding: The more education you have, the better off you are. Now, on the other hand, one thing … Continue reading
US Job Report for July 2014 – Total nonfarm payroll employment increased by 209,000 and UR little changed at 6.2 percent
Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, retail trade, and construction. Household Survey Data Both the unemployment rate (6.2 percent) and the number of unemployed persons … Continue reading
Colombia – Unemployment at 9.2% in June
The National Administrative Department of Statistics (DANE) issued a report on Thursday that covered statistics regarding Colombia’s labor market, demonstrating that unemployment from April – June 2014 was at 9.0%; down .6% from the same time period in 2013, Bogota’s W Radio reported. Additionally, the report showed that the unemployment rate was 9.2% in June 2014 … Continue reading
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