Job Market Monitor
Unemployment
Europe / Recession / Turning off the heat and skipping meat at Christmas
The euro zone debt crisis has put a damper on this festive time of year in southern Europe. In Greece, families say they’re turning off the heat and skipping meat at Christmas dinner. Lisboners will be cutting back on gifts (one cleaning lady told Reuters she will only give “bare necessities”). And Italian civil servant … Continue reading
Canada / Employment Insurance / Up 4,600 (+0.9%) to 535,000October 2012
Following a small decline in September, the number of people receiving regular Employment Insurance (EI) benefits in October edged up 4,600 (+0.9%) to 535,000. The number of beneficiaries increased slightly in Alberta, New Brunswick, Ontario, Manitoba and Quebec, while it edged down in British Columbia. Employment Insurance beneficiaries edge up in October . Choosen excerpts by Job Market … Continue reading
US Youth / More Are Homeless
Across the country, tens of thousands of underemployed and jobless young people, many with college credits or work histories, are struggling to house themselves in the wake of the recession, which has left workers between the ages of 18 and 24 with the highest unemployment rate of all adults. Those who can move back home … Continue reading
US / Top charts of 2012 by the Economic Policy Institute
EPI’s top charts of 2012 are drawn from our flagship publication, The State of Working America; regularly updated Economic Indicators; weekly Economic Snapshots; and posts on Working Economics, the EPI blog. Taken together, they illustrate that in 2013, policymakers must do more to ensure the U.S. economy works for all Americans. Here are the fisrt … Continue reading
US / Nearly 6.9 million people out of the labor force want a job
In January, the U.S. Bureau of Labor Statistics significantly reduced its projections for medium-term labor force participation. The revision implies that recent participation declines have largely been due to long-term trends rather than business-cycle effects. However, as the economy recovers, some discouraged workers may return to the labor force, boosting participation beyond the Bureau’s forecast. … Continue reading
How Long Will it Take to Get to 6.5 Percent Unemployment? | Brookings Institution
Job Market Monitor : Last week, the FED said that it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. The Brooking Institute takes a look at it. *-* The … Continue reading
Canada / Youth Unemployment : hundreds of programs but do they deliver value for money?
Ottawa, the provinces, municipalities and non-profit agencies offer hundreds of youth employment programs. They include internships, training allowances, tax credits for apprenticeships and career development for marginalized groups. The question is not so much, do we need more programs but, rather, are they effective? Do they deliver value for money? This problem is not unique … Continue reading
How to get to the 6.5% unemployment rate target: roughly 270,000 jobs each month
The Federal Reserve predicts it will keep stimulative policies in place until the unemployment rate falls to 6.5%. But just how many jobs will it take to get there? As of November, the unemployment rate was 7.7%. In order to drop to 6.5% immediately, it would require 1.9 million jobs to be created right now. … Continue reading
FED / Targeting unemployment and inflation
The Federal Reserve announced Wednesday that it will take unprecedented steps to bolster the economy, saying it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. It was a historic … Continue reading
US / The Future of Federal Workforce Development Policy – A video from Brookings Institution
The overhaul of the Workforce Investment Act (WIA) in the late 1990s put in place a new framework to provide federal job training programs to workers and to “improve the quality of the workforce, reduce welfare dependency, and enhance productivity and competitiveness.” Reauthorization of WIA is long overdue, as the Act’s provisions technically expired nearly … Continue reading
(Update) UK / Unemployment rate down 0.2 at 7.8 per cent and the biggest quarterly fall in unemployment since 2001
For August to October 2012: The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.1 on May to July 2012 and up 0.9 on a year earlier. There were 29.60 million people in employment aged 16 and over, up 40,000 on May to July 2012 and up 499,000 on … Continue reading
UK / Unemployment rate down 0.2 at 7.8 per cent and the biggest quarterly fall in unemployment since 2001
For August to October 2012: The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.1 on May to July 2012 and up 0.9 on a year earlier. There were 29.60 million people in employment aged 16 and over, up 40,000 on May to July 2012 and up 499,000 on … Continue reading
Canada / Upturn in youth jobs picture
For months on end, the jobs picture among Canadian youth has been either little improved or deteriorating. That shifted Friday, with a report showing 16,300 new jobs were added for the 15-to-24-year-old crowd last month. That was sufficient to bring their unemployment rate down to 14 per cent from 14.7 per cent in October. Employment … Continue reading
US / Why the unemployment rate used to be low
Why did the U.S. unemployment rate used to be so low? (and why it can be very low again) asked Regis Barnichon and Andrew Figura (Adapted choosen excerpts by Job Market Monitor to follow) Between 1979 and 2000, the unemployment rate displayed a secular decline of about 2 ppt and reached 3.8% in April 2000, its lowest value in … Continue reading
Europe / NEET / 7.5 million young people aged 15–24 and an additional 6.5 million young people aged 25–29 were excluded from the labour market and education in Europe
“The immediate future of Europe depends upon the 94 million Europeans aged between 15 and 29” writes the European Foundation for the Improvement of Living and Working Conditions in NEETs Young people not in employment, education or training: Characteristics, costs and policy responses in Europe. (Adapted choosen excerpts by Job Market Monitor to follow). Apart from the challenges that young people … Continue reading
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