Job Market Monitor
Unemployment
March Job Report in US – Good news, total nonfarm payroll employment rose by 192,000 and UR unchanged at 6.7 percent
Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health care, and in mining and logging. Household Survey Data In March, the number of unemployed persons was essentially unchanged at … Continue reading
Italy in February 2014 – 3.307 million unemployed
In February 2014 22.216 million persons were employed, -0.2% compared with January 2014. Unemployed were 3.307 million, +0.2% with respect to the previous month. In order to improve the timeliness of statistical information on the Italian labour market and in accordance with the agreements made within the European Union, Istat publishes monthly estimates of the … Continue reading
Germany – The number of jobless remained above 3 million
Unemployment in Germany fell in March, according to the latest figures from the Federal Employment Agency (BA), but the number of jobless remained above 3 million. The positive trend, albeit a slight one, left overall unemployment in Germany at 7.1 percent, one of the lowest in the 18-nation eurozone. Compared to one month ago, some … Continue reading
Europe – In February 2014, 5.392 million young persons (under 25) were unemployed
The euro area (EA18) seasonally-adjusted unemployment rate was 11.9% in February 2014, stable since October 2013. It was 12.0% in February 2013. The EU28 unemployment rate was 10.6% in February 2014, down from 10.7% in January 2014. It was 10.9% in February 2013. These figures are published by Eurostat, the statistical office of the European … Continue reading
Youth Guarantee in Europe should be a joint effort
Last year, as part of the Multiannual Financial Framework (MFF) 2014-2020, EU leaders agreed to provide an additional €6 billion to support employment of people under the age of 25. The so-called Youth Employment Initiative (YEI), or Youth Guarantee scheme, now plays a crucial role in the EU labour market, with the additional funding frontloaded for the first … Continue reading
Monetary Policy in US – Yellen: The Fed is determined to improve employment situation
Janet Yellen, the Federal Reserve chairwoman, devoted more than an hour last week talking by telephone with three Chicago area residents struggling to find jobs. On Monday, she made their stories the centerpiece of the first public speech in her new job, delivering a strong statement about her concern over unemployment, her conviction that the … Continue reading
Canada – Lies, damn lies and jobs numbers
That data shows that the government’s claims about strong job growth, like Flaherty’s above, are more than a little misleading. A slightly better measure is the unemployment rate. Of the seven years after the Conservatives took office, Canada’s unemployment rate was higher than the OECD average for four years and lower for three. The latest … Continue reading
France – The number of people registered as jobless reached a record 3,347,700
Unemployment in France rose 0.9% in February, the labour ministry announced Wednesday, with almost 3.35m now jobless. Following a pasting in local elections last Sunday, the latest data is more grim news for President François Hollande. The second round of voting will be held this Sunday. The data show that the number of people registered … Continue reading
Job Market in Canada – Stephen Harper’s theory doesn’t fit the facts
Reality, as Prime Minister Stephen Harper is discovering, can poke holes in the most elegant of theories. In this case, the theory is the Conservative view of how Canada’s economy works, a view that goes something like this: Yes, the country suffered an economic recession but that’s over. Yes, there is still high unemployment — … Continue reading
Finland – Unemployment above 9 percent
According to Statistics Finland some 241,000 persons were unemployed in Finland in February, bringing the unemployment rate to 9.1 percent compared to 8.7 percent one year ago in 2013. In January of this year, the jobless rate was recorded at 8.5 percent. The agency added that the number of persons in the inactive work population … Continue reading
Tunisia – Addressing Youth Unemployment
How can the transitional government begin to address youth unemployment in light of low growth? In the two decades prior to the 2011 uprising, Tunisia has grown at a steady rate, but the economy failed to produce jobs. Unemployment increased in 2011 to over 18 percent and remains high at around 17 percent. There are … Continue reading
Pope Francis : Unemployment Wounds Human Dignity
“It is necessary to reaffirm that employment is necessary for society, for families and for individuals.” These were the words of Pope Francis during an audience with steelworkers from the “Acciaierie di Terni”, along with their families. The group, which was accompanied by the bishop of their diocese, were in Rome to celebrate the 130th … Continue reading
UK – Employment continues to increase, unemployment to fall writes ONS
Latest estimates show that the number of people in employment continued to increase. Unemployment continued to fall, as did the number of economically inactive people aged from 16 to 64. These changes continue the general direction of movement over the past two years. The unemployment rate for 16 to 24 year olds was 19.8% … Continue reading
Teens and young adults employment plummeted between 2000 and 2011 in the Largest Us Metropolitan Areas study says
“Employment prospects for teens and young adults in the nation’s 100 largest metropolitan areas plummeted between 2000 and 2011” write Andrew Sum, Ishwar Khatiwada, Mykhaylo Trubskyy, and Martha Ross with Walter McHugh and Sheila Palma in The Plummeting Labor Market Fortunes of Teens and Young Adults on brookings.edu. On a number of measures—employment rates, labor force underutilization, unemployment, and year-round joblessness—teens … Continue reading
Greece – Unemployment at record level
Greece’s jobless rate rose to a record 27.5 percent in the last quarter of 2013 even as the pace of economic contraction eased, remaining the highest in the eurozone, data showed on Thursday. Chosen excerpts by Job Market Monitor. Read the whole story at ekathimerini.com | Greek joblessness at record level, reaching ‘cyclical peak,’ according to economist. … Continue reading
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