Job Market Monitor
Unemployment
U.S. | Older workers capture more new jobs
Older workers are snaring an outsized share of job gains in the economic recovery as they put off retirement amid shrinking nest eggs, changes in Social Security benefits and improved health. They’re not necessarily limiting the pool of jobs for younger workers, says Dean Maki, chief U.S. economist for Barclays Capital. More-experienced employees are often … Continue reading
Israel | 20% jump in unemployment after a switch to the OECD harmonized definition
Israel’s top economic officials were utterly bewildered by the 20% jump in unemployment after a switch to the OECD harmonized definition. Since last weekend, when the change was revealed, none of the country’s leading economists has been able to explain how a different measuring method jacked up the numbers. On Monday the head of the … Continue reading
What Employers Want from the Long-Term Unemployed – Brent Rasmussen – Harvard Business Review
We often hear from job seekers: “If I have the necessary skills and experience, why am I not hearing back from more companies?” It’s a fair question, especially for the more than five million workers who’ve been unemployed for six months or longer (more than 40 percent of all unemployed job seekers). Struggling to get … Continue reading
U.S. | 2011 Employment Situation of Veterans : Unemployment Rate drops to 8.3 % (from 8.7 % in 2010)
The unemployment rate for veterans who served on active duty in the U.S. Armed Forces at any time since September 2001–a group referred to as Gulf War-era II veterans–was 12.1 percent in 2011, the U.S. Bureau of Labor Statistics reported today. The jobless rate for all veterans was 8.3 percent. Twenty-six percent of Gulf War-era … Continue reading
Active Labour Market Policy | Profiling potential long-term unemployment at the individual level
“Many OECD countries have developed and currently utilise a profiling tool which predicts the risk of Long-term unemployment (LTU). Pioneers in the development of this tool in the early 1990s included the US, Australia, Canada and the UK followed in later years by Germany, Denmark, Switzerland, Ireland, France and the Netherlands amongst others” writes Mgr. Tomas … Continue reading
College graduates of 2012 | Labor market improves
This year’s college graduates are being offered more jobs and fatter paychecks. Members of the Class of 2012 are being offered median starting salaries of $42,569 — up 4.5% from last year, a new report from the National Association of Colleges and Employers shows. Meanwhile, they have more jobs to choose from. Employers expect to … Continue reading
Unemployment Rate | Where is it going ?
Unemployment rate: How low can it go? The unemployment rate has fallen dramatically over the last six months, but just how low can it go? The answer is being debated among two camps of prominent economic thinkers. One school of thought says that unemployment will return to around 5% as the economy eventually recovers. But … Continue reading
Tunisia | Poll Shows Impatience with Employment Policy
Public discontent over the issue of unemployment appears to be growing despite the efforts of the interim government to address the deteriorating job situation in Tunisia. According to a poll released by SIGMA Conseil, 61.5 % of Tunisians are dissatisfied with the employment policy of the government and 56% of Tunisians are dissatisfied with the policy … Continue reading
Georgia and Florida cut the duration of unemployment benefits
Georgia is vying with Florida for the title of stingiest state, when it comes to jobless residents. The Republican-controlled State Legislature passed a bill last week to cut the duration of unemployment benefits from a current maximum of 26 weeks to a range from 14 weeks to 20 weeks, depending on the state unemployment rate. … Continue reading
‘Fix Young America’ aims to recruit Stephen Colbert
Fix Young America, a digitally crowd-funded movement which promotes youth entrepreneurship, is going after satirical talk-show host Stephen Colbert to act as its spokesperson, the Daily Beast reported. 28-year-old Scott Gerber, whose Young Entrepreneur Council and Gen Y Capital Partners non-profit groups aim to put an end to unemployment among young Americans, is the mastermind … Continue reading
How Unemployment Leave Europe’s Young ?
Larry Hatheway, Managing Director and Head of Global Asset Allocation, UBS Investment Bank, noted earlier this month that high levels of youth unemployment were “clearly undesirable” and policy priorities in the euro zone should shift the focus from managing the debt crisis to address joblessness. “Youth unemployment rates probably understate the true level of joblessness … Continue reading
More Than Half Youth are unemploymed in Spain and Greece
The unemployment rate among Spain’s under-25s rose to 50.5pc in January, and to 50.4pc in Greece in December, according to the latest available data from Eurostat, the European Union’s statistics office. It compared with an average eurozone youth unemployment rate of 21.6pc. One of the lowest rates of youth unemployment is in Germany, where it … Continue reading
Austerity Is a Disaster – The Atlantic
Euro zone unemployment just hit a 15-year high. German unemployment just hit a 15-year low. What can those of us across the Atlantic glean from this seemingly bipolar state of affairs? That austerity, every economic conservative’s favorite prescription for an ailing economy — the medicine Republicans here in the United States are pushing hard — is … Continue reading
UK | Young Unemployment | Clegg Launches £1bn Flagship Scheme
Nick Clegg is today launching his £1bn flagship scheme to get young people into work amid accusations that the government has been complacent over youth unemployment. The Deputy Prime Minister – who has championed the plan in the coalition – will say the start of the Youth Contract offers a route into work for young … Continue reading
Tennesse | Unemployment reform efforts divide
Joseph Green wonders if he has a target on his back — and if it’s about to get bigger. The Springfield man said he sometimes feels as if he’s being labeled as a second-class citizen because he has been out of work for nearly two years. But with state legislators considering tougher rules and more … Continue reading
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