Job Market Monitor
Unemployment
US / When Unemployment Runs Dry
Over 4 Million Americans are considered now long term unemployed. They are not only disconnected from the work force, but may be also disconnected from the mainstream culture. If we can’t get them reconnected, we are looking at devastating costs to not only them, but our society as a whole. There is a 50% increase … Continue reading
Jordan / World Bank grants $70m loan to ease youth unemployment
The World Bank has granted Jordan $70 million in financing to help it to extend small loans to young people in depressed rural areas that have suffered most from the country’s sluggish economic growth. With almost 40 percent of the country’s seven million population aged under 15, youth unemployment is a particular problem and has … Continue reading
US / College graduates have low unemployment
It is true that young workers have higher unemployment rates than their older counterparts, at just about all levels of education. A recent report published by the Bureau of Labor Statistics on the job prospects of new college graduates, for example, found that as of October 2011, the graduates of the class of 2011 had … Continue reading
Egypt / The Unemployment Problem In Chart
About 1 million Egyptians lost their jobs in 2011 as the economy shrank for the first time in decades. And the paradox of the Middle East deepened with more young people than ever searching for jobs, while at the same time, the private sector encountered increasing difficulty in its search for qualified employees. The latest figures from the government statistics agency, CAPMAS, … Continue reading
Canada / The Trouble With Apprenticeship / Overall completion rate was 4.9% in 2007
Skilled labour shortages are expected in Canada. Apprenticeship is seen by many as one of the best ways to provide for a supply of skills matching industry needs. The German model is praised around the world, exported and copied elsewhere. What about the system in Canada? Statistics Canada has published a study by Christine Laporte … Continue reading
China / More than 95 percent of graduates from polytechnics or vocational schools have a job
The employment rate for graduates from polytechnics or vocational schools is more than 95 percent, higher than that for their college counterparts, according to a report by the Ministry of Education on middle-level vocational education. The message is such schools provide the right people with the right skills for enterprises and they meet the needs … Continue reading
US / Official Recession Indicators are Contracting
The chart clearly illustrates the savagery of the last recession. It was much deeper than the closest contender in this timeframe, the 1973-1975 Oil Embargo recession. While we’ve yet to set new highs, the trend has collectively been upward. But a closer look at the average shows a clear slowing of the trend in 2012. … Continue reading
Malta / Jobs are the be all and end all says Prime Minister Gonzi
Insisting that job creation was the bottom line in administering the country, Prime Minister Lawrence Gonzi said that if no jobs are created, there would be no capital investment, no education, and no health services. Speaking in Senglea in a PN event, Gonzi said “jobs are the be and end all,” underpinning his government’s achievements … Continue reading
There is no issue more important than Global Youth Unemployment
Last week, Secretary Kerry made his first speech as Secretary of State at the University of Virginia where he spoke about the importance of our foreign policy, especially for young people. He said “In countries across North Africa and the Middle East, the majority of people are younger than 30 years old. About half are … Continue reading
Euro area / Unemployment rate at 11.9% (EU27 at 10.8%)
The euro area (EA17) seasonally-adjusted unemployment rate was 11.9% in January 2013, up from 11.8% in December 2012. The EU271 unemployment rate was 10.8%, up from 10.7% in the previous month. In both zones, rates have risen markedly compared with January 2012, when they were 10.8% and 10.1% respectively. These figures are published by Eurostat, … Continue reading
UK / Is the graduate job market as bad as it seems?
For current undergraduates, prospects after university might seem dire. Certainly the statistics suggest uncomfortable truths: 24.8% of 21-year-old graduates are unemployed, approximately 83 graduates apply for every job, and nearly a million young people are out of work. Meanwhile, a recent report by the Prince’s Trust has warned that youth unemployment will lead a generation … Continue reading
US / Hispanics / Unemployment Rate Tops 17% in 5 States
The Hispanic unemployment rate at the end of 2012 in 13 states significantly exceeded the state rate, with the percentage of jobless Hispanics surpassing 17 percent in five states. Overall, the unemployment rates likely will remain high for whites, Latinos, and African-Americans through the year, according to projections by the Economic Policy Institute. The nationwide … Continue reading
US / ARRA / Spending that was less linked to state unemployment rates than might be expected finds FRBNY
Fiscal stimulus, in the form of large discretionary increases in federal spending and tax reductions, is often triggered by a strong and persistent rise in the national unemployment rate. The most recent example was the $860 billion (6 percent of GDP) stimulus contained in the 2009 American Recovery and Reinvestment Act (ARRA), adopted in the … Continue reading
UE / Youth unemployment has been around long before the crisis
One of the more tragic outcomes of the euro crisis has been the gut-wrenchingly high youth unemployment rates. More than half of the young people in Greece and Spain are looking for work. “Europe is facing an often-cited “lost generation” which experiences long periods of unemployment or unstable jobs during their first working years, with … Continue reading
France / Unemployment Nears 16 Year High
Unemployment in France shot up by 43,000 in January. That brings the total number of unemployed to 3.16 million, just shy of the 3.19 million record set in 1997. After he was elected, the administration of socialist President Francois Hollande decided to raise taxes rather than cut spending. Rates on the wealthy were raised to … Continue reading
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