Job Market Monitor
Unemployment
Youth Transitions / A function of how economic, education and employment policies interact
“Youth unemployment was rising since well before the current economic downturn, but the fallout from the financial crisis has brought it to the top of the government’s agenda and generated a plethora of publications and initiatives to tackle the problem.” write Tess Lanning and Katerina Rudiger in Youth unemployment in Europe: lessons for the UK (Adapted chosen excerpts by … Continue reading
Germany / New evidence on start-up subsidies and programs for unemployed youth – they work
‘In industrialized economies such as the European countries unemployment rates are very responsive to the business cycle and significant shares stay unemployed for more than one year.” writes Künn, Steffen in Unemployment and active labor market policy : new evidence on start-up subsidies, marginal employment and programs for youth unemployed. (Adapted choosen excerpts by Job Market Monitor … Continue reading
Europe / Unemployment ‘unacceptably high’ says Jonathan Todd, spokesman for the European Commission
Two nations at the forefront of the European economic crisis, Spain and Greece, have the region’s highest unemployment with more than one in four people out of work. The statistics are even grimmer fro those younger than 25 years of age in both countries, with joblessness as high as 60 percent. Overall, more than 10 … Continue reading
Europe had 7.5 million NEETs aged 15 to 24 in 2011, a big burden
Europe’s young people are suffering disproportionately in the economic crisis and we must do more to prevent them from becoming ‘a lost generation’ – says think-tank Youth unemployment rates in some European Union countries are scandalously high. Many member states are hoping to copy the success of the German apprenticeship system. Although nations should be encouraged to … Continue reading
Germany / Unemployment rises for an 8th month and adjusted jobless rate held at 6.9
German unemployment climbed for an eighth straight month in November as Europe’s debt crisis curbed company investment and economic growth. The number of people without a job increased a seasonally adjusted 5,000 to 2.94 million, the Federal Labor Agency in Nuremberg said today. Economists forecast a gain of 16,000, the median of 37 estimates in … Continue reading
Europe / Unemployment continues to rise, reaching 11.7%, and 55,9% of youth in Spain
The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in October 2012, up from 11.6% in September. The EU27 unemployment rate was 10.7% in October 2012, up from 10.6% in September. In both zones, rates have risen markedly compared with October 2011, when they were 10.4% and 9.9% respectively. Eurostat estimates that 25.913 million men and women in the … Continue reading
Unemployment Rates / US: Education still matters
Unemployment does not strike indiscriminately. Education, and with it, skills and competencies make a huge difference. Last october, the unemployment rate for 25 years and older (seasonally adjusted) in the United States was more than three times lower among peoples with Bachelor’s degree and higher (3.8%) than among those who have not completed high school … Continue reading
Unemployment Insurance / Claims fell below 400,000
SEASONALLY ADJUSTED DATA In the week ending November 24, the advance figure for seasonally adjusted initial claims was 393,000, a decrease of 23,000 from the previous week’s revised figure of 416,000. The 4-week moving average was 405,250, an increase of 7,500 from the previous week’s revised average of 397,750. The advance seasonally adjusted insured unemployment rate was 2.6 percent … Continue reading
Canada / Recessions / Many high-seniority workers experienced substantial long-term earnings losses
Most long-term workers who were laid off in the different economic contexts of the early 1990s and the early 2000s managed to find work and earn wages or salaries during the next five consecutive years. However, many experienced earnings losses when they returned to work. The magnitude of losses varied significantly depending on factors such as labour … Continue reading
Europe is still not sufficiently skilled writes the European Commission in Pathways towards full employment
“The economic crisis is fuelling a stream of bad news about jobs in Europe.” writes Robert-Jan Smits, Director-General for Research and Innovation, European Commission in the foreword of New skills and jobs in Europe: Pathways towards full employment (Adapted choosen excerpts by Job Market Monitor to follow) People around us are losing their jobs and … Continue reading
France / Over one in ten is out of work, first time in 14 years
The number of unemployed people in France jumped to the highest level for 14 years in October, the French Labour Ministry has announced. Data shows the number of registered job seekers in mainland France rose by 45,400 or 1.5% in October to 3.103 million people, accounting for 10.6% of the population. This is the highest … Continue reading
U.S. Chamber of Commerce / Veterans / Our Heroes Program
The U.S. Chamber of Commerce’s National Chamber Foundation announced today the launch of VetNet, a new career resource for veterans, transitioning servicemembers, and military spouses created by the Chamber’s Hiring Our Heroes program, the Institute for Veterans and Military Families at Syracuse University, and Hire Heroes USA. The three organizations are partnering on the new … Continue reading
UK / Underemployment / More than 1m people are “part-timers”, not because they want to be, but because they cannot find anything else
In the darkest days of the financial crisis economists were predicting the unemployment toll would reach 3m. Thankfully, those fears never materialised, with joblessness peaking at around 2.7m. However, the side effect of containing the jobs figures well below 3m has resulted in swathes of people working part-time or reduced hours because they cannot find … Continue reading
US / FED / Dallas Fed President, Richard Fisher, says Fed might set a target for unemployment
Dallas Fed President Richard Fisher, a top Federal Reserve official, said on Tuesday that his main concern now was unemployment, not inflation. He said another option the Fed might consider to signal its aims to markets was a target for unemployment, although this would be difficult because monetary policy alone was not responsible for creating jobs. … Continue reading
UK / Flagship government employment program finds jobs for only 3.5 % of participants
Private companies running a flagship government employment scheme have put only 3.5 percent of clients into sustainable jobs, statistics published on Tuesday showed. The British coalition government’s Work Programme, launched in June 2011 to help the long-term unemployed find work, divides the country into regions, with each comprising a range of private, public and voluntary … Continue reading
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