Job Market Monitor
Unemployment
Employment In Europe / Some perspectives
Over the past decades, there used to be that almost axiomatic, empirically derived law in economics that the natural unemployment *** rate in the US was bound to be lower than in most other western countries (notably European ones). I concentrate mainly on the EU in this answer since the other European countries are mostly … Continue reading
Bulgaria / Unemployment rate up at 11pc in October
Bulgaria’s unemployment rate rose to 11 percent in October from 10.6 percent the previous month, mainly due to a drop of seasonal jobs in agriculure and tourism, data from the labour ministry showed on Friday. About 12, 500 new workers in the European union’s poorest country lost their jobs in October, bringing the number of … Continue reading
Learning from Sweden’s return to full employment in the late 1990s
In the mid to late 1990s, Sweden’s economy staged a remarkable resurgence from a three-year-long recession which had left it with the largest government budget deficit in the OECD. In this essay for IPPR, former Swedish finance minister Par Nuder reflects on the policies and politics that enabled his country’s recovery. In the early 1990s, … Continue reading
Euro zone / A second recession since 2009
The debt crisis dragged the euro zone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday. The two leading economies both managed 0.2-per-cent growth in the July-to-September period. But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the … Continue reading
US | Jobless claims | At 439,000, and 78,000 up, Thx to Sandy
Unemployment Insurance Weekly Claims Report SEASONALLY ADJUSTED DATA In the week ending November 10, the advance figure for seasonally adjusted initial claims was 439,000, an increase of 78,000 from the previous week’s revised figure of 361,000. The 4-week moving average was 383,750, an increase of 11,750 from the previous week’s revised average of 372,000. The advance seasonally … Continue reading
The American Job Gap
We face a 9 million jobs gap between the number of jobs we have and the number we need, and this doesn’t even address the low quality of the jobs being created. The chart below, taken from an Economic Policy Institute blog post, illustrates the gap. As Heidi Shierholz, the author of the post, explains: The … Continue reading
Global Economic Crisis / More than 70 per cent of workers lack unemployment insurance
The recent global economic crisis has served as a stark reminder of why unemployment insurance matters. But the reality is that fewer than half of almost 200 countries monitored by the ILO offer such protection. More than 70 per cent of workers worldwide have no statutory access to unemployment insurance or any type of unemployment … Continue reading
UK / Unemployment rate at 7.8 per cent and employment up 100,000
The employment rate for those aged from 16 to 64 for July to September 2012 was 71.2 per cent, up 0.2 from April to June 2012. There were 29.58 million people in employment aged 16 and over, up 100,000 from April to June 2012. The unemployment rate for July to September 2012 was 7.8 per cent of the … Continue reading
UK / Jobless Claims Unexpectedly Rise
U.K. jobless claims rose at the fastest pace in more than a year and job creation slowed, suggesting the labor market is succumbing to a fragile economic outlook. Jobless-benefit claims increased 10,100 to 1.58 million in October, the most since September last year, the Office for National Statistics said today in London. The median of … Continue reading
US / FED / Yellen Says Fed Should Tie Rate Inflation and Employment
Federal Reserve Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date. “The Committee might eliminate the calendar date entirely and replace it with guidance on the economic conditions that would need to prevail before … Continue reading
China / Unemployment on rise
China, with a 4.1 percent urban unemployment rate, is feeling the pressure from the country’s sluggish economy, as new job growth slows and more people become unemployed, a top official said today. “The impact of economic slowdown on the job market is starting to emerge,” said Vice Minister of Human Resources and Social Security Yang … Continue reading
OECD / Unemployment Rate / Broadly the same rate observed since January 2011
The OECD unemployment rate was 7.9% in September 2012, broadly the same rate observed since January 2011. In the euro area, the unemployment rate increased for the 16th consecutive month — up 0.1 percentage point to 11.6% in September. The unemployment rate fell by 0.3 percentage point in the United States in September (to 7.8%), … Continue reading
Evidences suggests that structural unemployment is worsening in many countries
Since the onset of the Great Recession, there has been a change in the relationship between the unemployment rate and vacancy rate in the U.S.” write Bart Hobijn and Aysegul Sahin in Beveridge Curve Shifts across Countries since the Great Recession on frbsf.org. (Choosen excerpts by JMM to follow) This relationship, summarized by the Beveridgecurve, was remarkably … Continue reading
US | Unemployment Insurance | House Democrats push for extension
House Democrats are beginning their push for an extension of expanded federal unemployment benefits before more than 2.1 million workers lose them at year’s end. Ways and Means panel ranking member Sandy Levin (D-Mich.) and Rep. Lloyd Doggett (D-Texas) released a committee report on Monday arguing for quick action to extend benefits before they expire … Continue reading
American Veterans | Trends and Programs
“Veterans’ employment outcomes in the civilian labor market are an issue of ongoing congressional interest” write Benjamin Collins, David H. Bradley, Cassandria Dortch, Lawrence Kapp and Christine Scott in Employment for Veterans: Trends and Programs for CRS (Adapated choosen excerpts by JMM to follow) This report offers introductory data on veterans’ performance in the civilian labor market as well as a discussion … Continue reading
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