Job Market Monitor
Unemployment
US / When will the unemployment rate fall to 6.5% (the Fed’s threshold)
When will the unemployment rate fall to 6.5% (the Fed’s threshold, but not trigger, for raising the Fed’s funds rate)? If the participation rate stays steady, the unemployment rate will fall to 6.5% in December 2014 if the economy adds around 185,000 jobs per month. This is consistent with the Fed not raising rates until 2015 … Continue reading
Eurozone / Unemployment hits record high
Unemployment across the 17 eurozone states hit an all-time high in May Continue reading
US / A new labor market indicator: the threshold of initial jobless claims
The paper introduces a new labor market indicator, referred to as the threshold of initial jobless claims, that serves as a benchmark of comparison for the weekly reporting of initial jobless claims. The presented threshold is an improvement over a commonly used rule of thumb in relating initial claims to the upcoming employment report Continue reading
UK / More than 20,000 of last year’s graduates were unemployed six months after leaving university
More than 20,000 of last year’s graduates were unemployed six months after leaving university Continue reading
Germany / Unemployment Drops in June (Rate at 6.8%)
German unemployment unexpectedly fell in June amid signs a recovery in Europe’s biggest economy is on track even as the euro area struggles to emerge from its longest ever recession Continue reading
Poland / Unemployment rate falls to 13.5 per cent in May
Poland’s jobless rate fell to 13.5 per cent at the end of May from 14 per cent the previous month as warmer weather saw an increase in seasonal outdoor jobs. The Central Statistical Office said Tuesday that some 2.17 million people in this nation of 38 million were without a job in May. Experts say … Continue reading
Restoring full employment as a global priority
With social unrest and unemployment being widespread worldwide, there is an urgent need to restore full employment as a global and national priority goal Continue reading
US / Not All College Degrees are created Equal – College Majors, Unemployment and Earnings
It Still Pays to Earn a College Degree But Not All College Degrees are created Equal
In the past, a college degree all but assured job seekers employment and high earnings, but today, what you make depends on what you take. In Hard Times 2013, we show differences in unemployment and earnings based on major for BA and graduate degree holders. Continue reading
India / A million graduating engineers struggling
Somewhere between a fifth to a third of the million students graduating out of India’s engineering colleges run the risk of being unemployed. Others will take jobs well below their technical qualifications in a market where there are few jobs for India’s overflowing technical talent pool. Beset by a flood of institutes (offering a varying … Continue reading
China / The official unemployment rate is only official
In good times and bad, China’s official unemployment rate has barely budged. It’s now at 4.1% where it has been since the third quarter of 2010. It has hovered around the 4% level since 2002 (though it plummeted all the way down to 3.6% in 2001). It’s not much use to anybody, particularly those who … Continue reading
Apprenticeship / Leads to substantially lower unemployment rates research finds
How to best prepare non-college bound youth for the labor market? asks Matthias Parey in Vocational Schooling versus Apprenticeship Training — Evidence from Vacancy Data on cep.lse.ac.uk (Adapted chosen excerpts by Job Market Monitor to follow). Different approaches compete in this field, including firm-based apprenticeships, full-time vocational schooling, and on-the-job learning. Little is known about how effective these … Continue reading
China / 16 percent of the men and women with college degrees unemployed, 4 percent of those with an elementary school education
A national survey released last winter found that in the age bracket of 21- to 25-year-olds, 16 percent of the men and women with college degrees were unemployed. But only 4 percent of those with an elementary school education were unemployed, a sign of voracious corporate demand persisting for blue-collar workers. Wages for workers who … Continue reading
Singapore / Unemployment rate rose to 2.9 per cent in March
Singapore’s seasonally adjusted overall unemployment rate stayed low at 1.9 per cent in March, compared to the 1.8 per cent registered in December 2012. The unemployment rate for Singapore residents rose to 2.9 per cent from 2.7 per cent while the citizen unemployment rate remained unchanged at 2.9 per cent. Long-term unemployment also improved slightly … Continue reading
Australia / Unexpected Job Gains as Unemployment Rate Falls
The number employed persons in Australia unexpectedly increased in May, owing to an increase in part-time employment, the latest report from the Australian Bureau of Statistics showed Thursday. The report also revealed a marginal dip in the unemployment rate. The number of employed persons rose 1,100 from a month earlier to 11.66 million in May. … Continue reading
Canada / Gap between youth and adult employment widest in 35 years
Young people in Canada have long faced a tougher slog in the job market than adults, but the gap between youth and adult unemployment has now reached the widest gap in 35 years, a new Statistics Canada report shows. The youth unemployment rate in 2012 was 2.4 times that of adults — marking the biggest … Continue reading
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