Job Market Monitor
Unemployment
US / Millennial / 2013 Outlook Grim
The latest jobs report doesn’t hold much promise for millennials looking for work. The overall unemployment rate for 18 to 29-year olds in December was 11.5 percent, according to the national, non-partisan organization Generation Opportunity, which analyzes the data specifically for that age range. David Pasch, Generation Opportunity’s Director of Communications, told HuffPost Live Monday … Continue reading
Europe / Unemployment at record level in November 2012: 26 million
EU unemployment tops 26 million for 1st time Unemployment in the 17 EU countries that use the euro rose to 11.8 percent in November, as the number of jobless people in the region rose to 18.8 million, the highest figure since the single currency was founded in 1999. According to data released Tuesday by the … Continue reading
US / Jobs with the lowest and highest unemployment rates
The top jobs with the lowest unemployment rates for 2012 include fields in areas from health care and finance, to social services and engineering — and all require a lot of education and training. “You look at these jobs, they are all high skilled, high education, and high experience,” said Abraham Mosisa, an economist at … Continue reading
It’s not a skill mismatch: Disaggregate evidence on the US unemployment-vacancy relationship
US unemployment seems stuck at an unusually high level of 8%, prompting some to suggest a widespread skills mismatch. This column argues that a skills mismatch is not supported by the evidence. Rather, out of the possible explanations, it seems that any shift in the ratio between unemployment and vacancies is driven by either lower … Continue reading
US / Unemployment and deficits go together
The unemployment rate is too damn high, and all that America’s politicians can talk about is the budget deficit. If only they knew that we can take care of both of them at once. Friday’s unemployment report, showing joblessness still stubbornly high, makes the absolute insanity of Washington’s deficit obsession even plainer. In fact, unemployment … Continue reading
Recessions impact Babies study finds
Kids born during the economic recessions of the 1980s had a higher chance of substance abuse and arrest as teenagers, a new study has found, leading researchers to wonder if babies born in recent years could face a similar fate. “The mechanisms involved may be different in intensity and severity, (but) based on the study … Continue reading
Canada / Employment rose by 40,000 and the unemployment rate declines the lowest in four years
Employment rose by 40,000 in December, the fourth increase in five months. December’s increase was all in full-time work. The unemployment rate declined 0.1 percentage points to 7.1%, the lowest in four years. Chart 1 Employment Compared with 12 months earlier, employment increased 1.8% or 312,000, all in full-time work. Over the same period, the total number of hours worked rose 1.6%. Provincially, employment increased in Ontario, … Continue reading
Where The Jobs Are: ZeroHedge on The Jobs Gerontocracy
Tyler Durden of ZeroHedge writes: A good jobs report? Sure, if one is 55 and over. In December the American jobs gerontocracy continued its relentless course … some 2.7 million jobs in the 16-55 year old category have been lost. The “offset”: 4 million jobs for Americans between 55 and 69. For all those young people … Continue reading
Update – US / An increase of only 28,000 persons saying they have a job: proportion at work declined
The last Employment Report for 2012 is fresh out. Comments will focus on the fact that Nonfarm payroll employment rose by 155,000 and the unemployment rate was unchanged at 7.8 percent. All that is true but… there is a big bad news. An important indicator coming from the household survey is the Employment-population ratio which , in short, … Continue reading
India / Unemployment Insurance / Uttarakhand removes the cap of one person per family
The Uttarakhand government today decided to liberalise norms for the unemployment allowance scheme in the face of stinging criticism from the opposition. The scheme, which was launched with much fanfare on November 9 last year, had failed to find favour with the jobless mainly due to its stringent norms. The scheme had covered only 834 … Continue reading
US / Unemployment Benefits / An increase of 10,000: two out of three employment-related reports were positive
SEASONALLY ADJUSTED DATA In the week ending December 29, the advance figure for seasonally adjusted initial claims was 372,000, an increase of 10,000 from the previous week’s revised figure of 362,000. The 4-week moving average was 360,000, an increase of 250 from the previous week’s revised average of 359,750. The advance seasonally adjusted insured unemployment rate was 2.5 percent … Continue reading
US / Proportion of Population With Job Improves in December finds Gallup
The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, was 44.4% for the month of December, a slight improvement over 43.7% in November. The current P2P rate still does not match the levels of employment seen in July through October, which exceeded 45% and were the highest since Gallup began tracking P2P … Continue reading
Spain / Unemployment fell by 41,023 seasonally adjusted but surged by 426,364 over a year
The number of people registered as unemployed in Spain fell by 1.2pc in December to 4.85m – the first decline since July 2012, the country’s labour ministry said. The was the best December performance since records began in 1996, with young people, women and first-time workers benefiting the most. When seasonally adjusted, Spain’s jobless numbers … Continue reading
Unemployment needs city-specific solutions
Centre for Cities launches Cities Outlook 2012 today, which shows how cities are fairing against the backdrop of a sluggish national economy. This year the report focuses on unemployment in our largest urban areas. For this reason both the government and the work programme providers must take a varied response to the UK’s unemployment problem. … Continue reading
Ireland / Special Cabinet meeting on jobs and job creation
Enda Kenny has promised to aggressively tackle unemployment this year and has ordered each of his ministers to come up with individual employment targets. The Taoiseach said a special Cabinet meeting on jobs and job creation will be held later this month where each minister will be expected to outline their own specific job creation … Continue reading
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