Job Market Monitor
Unemployment
US / Surpassing much of Europe in youth unemployment
The United States has quietly surpassed much of Europe in the percentage of young adults without jobs. It’s not just Europe, either. Over the last 12 years, the United States has gone from having the highest share of employed 25- to 34-year-olds among large, wealthy economies to having among the lowest. The grim shift — … Continue reading
US Long-Term Unemployment / Why so many people have been out of work for so long
Democrats generally point to the anemic recovery, in which weak demand for goods and services results in less hiring. The cyclical nature of unemployment, they say, can be addressed with more government stimulus. Republicans tend to focus more on structural problems, in which the education and experience levels of the unemployed don’t match what employers … Continue reading
US / Employment for 20 to 34-year-olds fell more than than among all workers over age 35 combined
Demos investigated the Bureau of Labor Statistics data for young adults in 2012 in order to see how the experience of young people today affects their prospects for tomorrow. We found that last year passed with no significant gains for young people, who continue to endure a jobs crisis even as the economy recovers. The … Continue reading
SA / Unemployment rate to 25.2%
The number of unemployed increased by 100 000 people to 4.6 million between the fourth quarter of 2012 and the first quarter of 2013, Statistics SA (StatsSA) said on Monday. This took the country’s official unemployment to 25.2% from 24.9% in the fourth quarter of 2012, StatsSA said in its Quarterly Labour Force Survey (QLFS). … Continue reading
(Update2) US / Employment rose by 165,000 in April, unemployment rate to four-year low, but still …
Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services,food services and drinking places, retail trade, and health care. Household Survey Data The unemployment rate, at 7.5 percent, changed little in April but … Continue reading
US Unemployment Rate / Why Not Target a 3% ?
Sad to say, the Fed considers 5.2 percent to 6 percent the economy’s long-run normal rate of unemployment. Achieving that rate would be a vast improvement over today. Still, once upon a time and not all that long ago, America’s elites strived for full employment, a catchphrase now relegated to economic history. Full employment was … Continue reading
Europe / Barroso calls for ‘ambitious’ youth jobs plan
European Commission president Jose Manuel Barroso on Thursday urged Europe’s leaders to come up with an “ambitious” jobs plan for youth at a June summit, as he held talks with new Italian premier Enrico Letta. Winding up a tour that has taken him to Berlin, Paris and Brussels to present his economic recipe for Italy, … Continue reading
US / Jobless claims fall sharply to five-year low
The number of Americans filing new claims for jobless benefits fell sharply last week to its lowest level since the early days of the 2007-09 recession, suggesting the job market is still healing despite weakness in the broader economy.Other data on Thursday showed a narrowing of the U.S. trade gap in March, although drops in … Continue reading
UK / The gap between our underemployment index and the unemployment rate is widening
Official unemployment figures are disguising the fact that a significant number of people who are in both full time and part time work are not able to work longer hours even though they want to, a report published on Thursday suggests. According to an analysis carried out for the National Institute of Economic and Social … Continue reading
I call on politicians to make every effort to relaunch the labour market says Pope Francis
Pope Francis on Wednesday urged political leaders to make every effort to create jobs and said unemployment was caused by economic thinking “outside the bounds of social justice.” “I call on politicians to make every effort to relaunch the labour market,” the pope told thousands of followers at his weekly general audience in St Peter’s … Continue reading
Philippines / Unemployment rate remain high despite strong economic growth
Despite strong economic growth, the unemployment rate in the Philippines remains the highest in Southeast Asia. The government admits it has not been able to meet its target of creating one million jobs a year, and now hopes to create employment by drawing in more investments. Vivian Atienza, a 40-year-old single mother, will soon leave … Continue reading
Ontario / People Without Jobs, Jobs Without People
Rick Miner, Ph.D. produced the report People Without Jobs, Jobs Without People in February 2010. Job Market Monitor chooses to present some excerpts given its relevancy in the debate about the extend of the Skills Gap in Canada. -*- While much of the world is understandably focused on the current recession, there is a looming demographic and labour … Continue reading
US / Tech Talent Shortage: A Myth ?
So it turns out the United States is not, in fact, the educational wasteland tech industry lobbyists would have you think. Companies like Microsoft often claim that America is suffering from an economically hobbling shortage of science, math, and computer talent. The solution, they argue, is to let employers fill their hiring gaps by importing tens of … Continue reading
Spain / Beyond Doomed
Spain is in a great depression, and it is one of the most terrifying things ever seen. Five years after its housing boom turned to bust, Spanish unemployment hit a record high of 27.2 percent in the first quarter of 2013. It’s almost too horrible to comprehend, but 19.5 percent of the total workforce has not had … Continue reading
German Latest Data / Unemployment Climbs
German unemployment rose for a second month in April, adding to signs that Europe’s largest economy is struggling to recover from a slump at the end of last year. The number of people out of work climbed a seasonally adjusted 4,000 to 2.94 million, the Nuremberg-based Federal Labor Agency said today. Economists predicted an increase … Continue reading
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