Job Market Monitor
Unemployment
Unemployment Claims | Remain at 4-Year Low
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT SEASONALLY ADJUSTED DATA In the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week’s revised figure of 353,000. The 4-week moving average was 354,000, a decrease of 5,500 from the previous week’s revised average of 359,500. The advance seasonally … Continue reading
U.S. | Less Than 6 out of 10 in employment, much worse than that of any of the other four recent recessions
The employment-population ratio is another useful measure for evaluating labor market conditions, as it provides a somewhat different perspective than the unemployment rate. The labor force—the denominator used in the calculation of the unemployment rate—may expand or contract in response to changes in the pace of economic activity. In contrast, the civilian noninstitutional population, the … Continue reading
Eight states and the District of Columbia reported unemployment rates of 10.0 percent or more in 2011 | 2011 Unemployment rate by State – Annual Average
In 2011, 30 states posted statistically significant unemployment rate decreases, the largest of which was in Michigan (-2.4 percentage points). Four additional states experienced decreases greater than 1.0 percentage point: Ohio (-1.4 points), Utah (-1.3 points), Oregon (-1.2 points), and Indiana (-1.1 points). The remaining 20 states and the District of Columbia reported annual average unemployment rates for 2011 that … Continue reading
Europe | Unemployment rises to record 10.7% in Euro Zone and above 20% for Youth and in Spain
Europe’s leaders travel to Brussels on Thursday, hoping to chart the continent’s way back to growth as figures show unemployment in the 17-country eurozone has spiked to its highest level since the euro was established in 1999. While the two-day summit is for once taking place amid relative calm on financial markets, Europe’s population is … Continue reading
UK | Unpaid work experience | Boots leaves scheme for long-term unemployed
Boots says it is withdrawing from the government’s scheme to help the long-term unemployed find work. It comes on the same day that ministers had to drop sanctions from a separate scheme that offers work experience to younger jobseekers. Boots said that it would no longer be offering any new placements on the work programme, … Continue reading
Youth Tough labor market | Economic Policy Institute
As we approach graduation season, it’s important to note the uphill battle young job seekers continue to face in today’s labor market. The unemployment rate for workers under the age of 25 has improved to 16.0 percent since its peak of 19.6 percent in the spring of 2010, but, excluding the Great Recession and its … Continue reading
FED | Slow progress ahead on jobs | Reuters
Federal Reserve Chairman Ben Bernanke on Wednesday offered a tempered view of the U.S. economy, pouring cold water on the notion that recent upbeat signs herald a stronger recovery. Bernanke told Congress that unless growth accelerated, the unacceptably high U.S. unemployment rate would not keep dropping. But he stopped short of signaling further Fed bond … Continue reading
Job Gap | Skill Gap | Matching the Jobless With 3.4 Million Jobs – NYTimes.com
EVER since the deep recession hit four years ago, many colleges have been rethinking their continuing education programs, straining to figure out how best to help the many unemployed Americans who have looked to them as a lifeline. With the unemployment rate still stubbornly high, this rethinking has led to a powerful trend in which … Continue reading
Bursting of the housing bubble has not generated any noticeable increase in structural unemployment
“Some economic observers argue “structural unemployment” has increased in the wake of the Great Recession” write John Schmitt and Kris Warner in Deconstructing Structural Unemployment published by the Center for Economic and Policy Research. Structural unemployment refers to unemployment that reflects supply constraints in the economy: workers whose skills or geographic location don’t match with employers’ desires. Structural unemployment differs from cyclical … Continue reading
Colombia unemployment rate may reach double digits again – Colombia news | Colombia Reports
Colombia’s unemployment rate may rise to double digits again, said a former director of the National Administrative Department of Statistics (DANE) on Tuesday. The DANE will release its monthly report for January on Wednesday and the former director Cesar Caballero warned that the news is not likely to be good. Unemployment fell to the single … Continue reading
German unemployment lowest in 20 years
The positive development in the labour market continued at the beginning of 2012. As reported by the Federal Statistical Office (Destatis), the number of persons in employment living in Germany totalled 41.06 million in January 2012. This was the first time in any January that the number of persons in employment exceeded the 41 million … Continue reading
Indiana’s $2 billion unemployment debt
Our Team continues our investigation into alleged mismanagement of the state’s unemployment system, turning now to who’s in charge of watching over the agency. Current and former employees came forward to I-Team 8, exposing that they were told to use questionable tactics to reduce the workload of an overwhelmed system. Our questions now turn to … Continue reading
High Unemployment Not Primarily Driven by Lost Construction Jobs – Economic Intelligence (usnews.com)
We often hear that today’s high unemployment is being primarily driven by workers who were laid off from construction jobs, but it’s not true. It is true that the bursting of our 8 trillion dollar housing bubble meant an enormous loss of construction jobs and that unemployment in construction is severe. But the bursting of … Continue reading
Veterans Can Qualify for Unemployment | Military Family Central
Veterans and service members just separating from active duty who can’t find a job could qualify for unemployment compensation. The transition back into civilian life is not easy, that’s why the Unemployment Compensation for Ex-Service members program (UCX) is there to help out on the financial front when those who serve separate from the military and … Continue reading
South Africa tries to solve its employment dilemma | African news, analysis and opinion – The Africa Report.com
South Africa’s unemployment rate hovers around 25 per cent, and the impact of the global financial crisis of 2008 and 2009 led the country to lose around 1.2m jobs. In the 25-34 age group 50 per cent of South Africans do not work, and it is thought that 50 per cent of young black South Africans will never have the chance to do … Continue reading
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