Job Market Monitor
Unemployment
Labor-market failures will not be demand-side but structural, not amenable to any straightforward and easily implemented cure
J. Bradford DeLong At first, the long-term unemployed in the Great Depression searched eagerly and diligently for alternative sources of work. But, after six months or so passed without successful reemployment, they tended to become discouraged and distraught. After 12 months of continuous unemployment, the typical unemployed worker still searched for a job, but in … Continue reading
Africa: The Era of Unemployment
The latest African Economic Outlook paints a promising picture for the continent, but crucially, it also warns that the scourge of youth unemployment will impact severely on the capacity of African states. The latest African Economic Outlook (AEO) has been released, and it’s optimistic. A joint project of the African Development Bank (AfDB), the OECD … Continue reading
Nigeria – Youth unemployment – Can Okonjo-Iweala hoodwink us ? Writes Bayo Olupohunda
Is the high rate of joblessness among Nigerian youth population a consequence of the global unemployment crisis or an upshoot of a mismanaged economy and wrong approach to employment creation initiatives? Did the recession-hit global economy have a ricochet effect on the growing statistics of the unemployed in Nigeria? The minister of Finance and co-ordinating … Continue reading
Michigan – Unemployment agency laying off up to 400 workers | MLive.com
The state is laying off up to about 400 employees in its unemployment insurance agency, ironically citing an improved economy as the reason for the cuts. Michigan’s Unemployment Insurance Agency will give two-week layoff notices to up to 225 permanent staff members on Aug. 31. Another 177 limited-term employees have been laid off, said Mario … Continue reading
South Africa – Update – Unemployment rate dips slightly, to 24,9%
SOUTH Africa’s unemployment rate declined to 24,9% in the second quarter of 2012 from 25,2% in the first quarter‚ Statistics South Africa (Stats SA) said on Tuesday. The expanded unemployment rate‚ which includes discouraged workers‚ also declined — to 36,2% from 36,6% in the previous quarter. Stats SA deputy director-general Kefiloe Masiteng has described the … Continue reading
Labor market recovery has been steady and widespread says DOL and Nevada continues to reign supreme on Top
The release of last month’s state-level unemployment statistics reaffirmed what many economists, including me, have stated: the labor market recovery has been steady and widespread. These numbers aren’t just good news for our economy, they’re impacting the lives of everyday Americans. We have experienced 28 consecutive months of job growth across all industry sectors, except … Continue reading
Singapore – Unemployment inched higher to 2.1%
And total employment grew by a scanty 27,400. According to the Ministry of Manpower, employment creation has moderated slightly in the first quarter this year, though it remained fairly strong. Unemployment has risen slightly. The seasonally adjusted overall unemployment rate increased from 2.0% in December 2011 to 2.1% in March 2012… via Unemployment inched higher … Continue reading
Make the unemployed work for free – A Solution ?
The failed neo-liberal British government is following the path that the conservatives followed in Australia in attempting to “manage” the unemployment that their flawed policy regime created… The scenario is this: 1. British government introduces austerity policies which deliberately create unemployment. Jobs vanish because aggregate demand contracts. People stop spending and firms stop investing because … Continue reading
Euro-Area Unemployment Rate at a Record 11.2% for Two Months in a Row
The euro area (EA17) seasonally-adjusted unemployment rate was 11.2% in June 2012, stable compared with May. It was 10.0% in June 2011. The EU27 unemployment rate was 10.4% in June 2012, also stable compared with May. It was 9.5% in June 2011. Eurostat estimates that 25.112 million men and women in the EU27, of whom 17.801 million … Continue reading
Germany – Employment rose by 1.2% and Unemployment Rate at 5.4%
According to provisional results of employment accounts, the number of persons in employment rose by 1.2% in June 2012 on June 2011. The growth rate thus was slightly lower than in the months February to May 2012 (+1.3%) and January 2012 (+1.4%). Compared with May 2012, the number of persons in employment was up by … Continue reading
Office of Management and Budget says high unemployment rates will last
The numbers that have the White House projecting an unemployment rate dipping below 8 percent before November still show the economy struggling to recover until well after the next presidential election, with rates not expected to stabilize to pre-recession levels until after the second term President Obama is hoping to win. Republicans quickly leapt on … Continue reading
US – Top 7 College Degrees to be Unemployed
Not all college degrees are created equal. This is according to a recent report by Georgetown University’s Center on Education and the Workforce. The major you choose could reduce your chances of being part of the latest unemployment statistic—or make you the newest member of the club. It would be in your best interest to … Continue reading
Black Unemployment Rate – Beyond 14.4 percent
The black unemployment rate stands currently at 14.4%. Blacks usually bare the burden of any increase in unemployment, as they are usually the first laid off as the economy sours and turns downward and are the last recalled as the economy turns upward. This to some extent is reflected in the current unemployment rate figures … Continue reading
Spain – The Unemployment Rate at record level and over 70% for Youth under 20
Second quarter of 2012 – Main results Employment fell by 15,900 people (-0.09%) The number of unemployed grows by 53,500 people and reached the figure of 5,693,100 The unemployment rate increased to 24.63% The participation rate rises to 60.08%. The Unemployment rate for youth under 20 is over 70% (Freely Translated and adapted by Job Market monitor) … Continue reading
Unemployment Insurance Claims – Down to 353,000, bottom-near since April 2008 – But is it only volatility ?
Unemployment Insurance Weekly Claims Report In the week ending July 21, the advance figure for seasonally adjusted initial claims was 353,000, a decrease of 35,000 from the previous week’s revised figure of 388,000. The 4-week moving average was 367,250, a decrease of 8,750 from the previous week’s revised average of 376,000. The advance seasonally adjusted … Continue reading
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