Job Market Monitor
Unemployment
Almost 15% of activie American were unemployment some time during 2011
The “work-experience unemployment rate”—defined as the number of persons unemployed at some time during the year as a proportion of the number of persons who worked or looked for work during the year—was 14.9 percent in 2011, down from 15.9 percent in 2010. The work-experience unemployment rates for Whites (13.7 percent) and Hispanics (18.3 percent) … Continue reading
Germany 2012: Record number of jobs and unemployment down
THE number of people in Germany who have a job rose to a record high last year, even though growth momentum is slowing as the eurozone debt crisis hits the German labour market. The number of people in work in Germany increased by 416,000 or 1.0 per cent to an annual average 41.5 million last … Continue reading
The Great Recession / 6.3 M children were living in families with an unemployed parent on average in 2012
“Economic conditions for children today are similar to those of a year ago—and much worse than they were in 2007. Millions of families with children have not yet regained ground lost during the recession.” write Julia B. Isaacs and Olivia Healy in The Recession’s Ongoing Impact on Children, 2012: Indicators of Children’s Economic Well-Being (Adapted choosen excerpts by … Continue reading
US / Unemployment Benefits / Lowest level since March 2008
SEASONALLY ADJUSTED DATA In the week ending December 22, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 12,000 from the previous week’s revised figure of 362,000. The 4-week moving average was 356,750, a decrease of 11,250 from the previous week’s revised average of 368,000. The advance seasonally adjusted insured unemployment … Continue reading
Youth Unemployment / Are American Next ?
It doesn’t take a degree in economics to know that unemployment hurts an economy. Would-be workers spend less because they earn less (or nothing), and a country’s financial workings and GDP suffer as a result. That much is easy to see, but many of unemployment’s effects can’t be predicted by textbooks, like the full extent … Continue reading
US / Twice the time to get a job than before
During the recession that began in December 2007 and ended in June 2009, millions of employed individuals lost their jobs and the ranks of the unemployed nearly doubled. In the aftermath, the number of jobless who were unemployed for 27 weeks or more continued to rise for about a year until early 2010, when it began to level off. In 2007, … Continue reading
Laid offs lose nearly 2.8 years of income over the rest of their working lives
Even in relative good times, laid-off workers take a huge financial hit as a result of their involuntary job losses. In a recent study, scholars at the University of Chicago and Columbia University found that men ages 50 and under who were laid off when the nation’s unemployment rate stood below 6 percent could expect … Continue reading
The New Fed Unemployment Target: The story behind
The decision was a testament to what former colleagues call Evans’s ability to build consensus. It also shows how one of the Fed’s 12 regional bank presidents can influence policy that is usually made by the central bank’s Washington-based board of governors, led by Bernanke. “Through the power of his ideas and his powers of … Continue reading
Denmark / Flexicurity Adjustment: Max UI benefits period cut to two years from four years
The Danish model of mixing flexibility for employers, who can hire and fire personnel easily, with social security for workers, was credited with virtually eradicating unemployment in the Nordic nation, before the financial crisis hit.. The system differs markedly from those in neighbouring Sweden and Germany, where terminating an employee is often expensive and cumbersome. … Continue reading
Fiscal Cliff / The Impact on American Jobs
As the year draws to a close, policymakers and the media have their sights fixed on the “fiscal cliff,” the federally mandated set of cuts in spending and increases in taxes scheduled to go into effect at the beginning of 2013. Most economic observers agree that, unchecked, this precipitous drop in government expenditures and spike … Continue reading
Europe / Young Professionals Brain Drain
Tiago Lambuca left Portugal to search for work here as an architect, but the decision to emigrate was about more than earning a wage. “You can find work in Portugal . . . but nothing that offers a career,” the 29-year-old said as he sipped juice in an open-air cafe in the shadow of Sao Paulo’s art … Continue reading
Zimbabwe / Is it possible to create a million jobs in five years ?
There have been debates and comments in the past weeks on whether it is possible to create a million jobs in Zimbabwe over the next five years. Many economists and analysts interviewed by the various media say it is a dream. In other words, it is impossible. When Marconi told people that he was developing … Continue reading
Canada / 5.3 unemployed per job vacancy, down from 5.7 a year ago
There were 267,000 job vacancies among Canadian businesses in September, up 19,000 from 12 months earlier. For every job vacancy, there were 5.3 unemployed people, down from 5.7 in September 2011. The decline in the ratio of unemployment to job vacancies was all the result of the increase in job vacancies. Ratio highest in the East, lowest in the Prairies Provincially, the highest ratios of unemployed … Continue reading
Unemployment Extension / Nothing on the table after Republicans pulled Plan B
With 9 days left before extended unemployment benefits expire, there is no new from Washington on an extension. Last night, the Republicans pulled Plan B which did not included reauthorization of federal extended unemployment and there is no other legislation current pending. If an agreement that includes the restoration of federal unemployment benefits isn’t reached, extended … Continue reading
Ireland / unemployment rate would be 20% without emigration says IMF
The IMF (International Monetary Fund) in its latest quarterly review of Ireland’s economy and prospects, says that “had all employees who lost their jobs since the outset of the crisis remained in the labour force,” instead of choosing emigration, the unemployment rate would stand at around 20%. The Fund seems to have little confidence in … Continue reading
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