Job Market Monitor
United States
US / Jobless Claims at Lowest Level since January 2008
The number of Americans filing new claims for unemployment benefits dropped to its lowest level in nearly 5-1/2 years last week, signaling labor market resilience in the face of fiscal austerity. Initial claims for state unemployment benefits fell 4,000 to a seasonally adjusted 323,000, the lowest level since January 2008, the Labor Department said on … Continue reading
US / Students “deserve the same break that big banks get” says Elizabeth Warren
“The U.S. government invests in big banks by giving them a great deal on their interest rates,” freshman Sen. Elizabeth Warren said in an interview with Salon on Wednesday afternoon (the transcript of which is below). “We should make at least the same investment in our students.” Warren was discussing the first bill she has introduced … Continue reading
Compare attitude on Youth Unemployment and the Apprenticeship Gap
Kudos to David Leonhardt for calling attention to the staggeringly high American youth unemployment rate — 26.6 percent — compared to rates in Europe and Japan. I just want to add that in addition to overall sluggish job creation, one of the problems is that American employers tend to avoid job training and seek workers who … Continue reading
US / A bill to change overtime pay law
The Republican-led House is poised to approve a bill that would give private sector workers the option of choosing paid time off instead of cash wages for working overtime. The measure would allow employees who work more than 40 hours a week to save up their earned time off for use weeks or months later. … Continue reading
Americans Give Priority to Jobs and the Economy over Guns and Immigration Reform Gallup finds
Americans put reforming immigration and reducing gun violence — the focus of much of the attention on Capitol Hill in recent weeks — at the bottom of a list of 12 priorities for Congress and the president to address. Americans instead say leaders in Washington should give highest priority to jobs and the economy, followed … Continue reading
Working in the US / The most accessible metropolitan areas in 2010 : Los Angeles, San Francisco, New York
Job accessibility has changed over time. In the past two decades, Las Vegas, Jacksonville, Austin, Orlando and Phoenix have seen the largest percentage gains in job accessibility while Cleveland, Detroit, Honolulu and Los Angeles have seen the largest percentage drops. This study estimates the accessibility to jobs by automobile in the 51 largest metropolitan areas … Continue reading
College Grad Mathematics and English Literacy
NCEE has released What Does It Really Mean to Be College and Work Ready?, a study of the English Literacy and Mathematics required for success in the first year of community college. During a day-long meeting with key education and policy leaders, NCEE will discuss the results of the study and its implications for community … Continue reading
Young American / Where the Jobs Are and Aren’t
In three regions – the upper Midwest, New England and the area around Washington – the job market for younger adults is considerably stronger than in the rest of the country. These three regions are the closest thing to an exception to the trend I described in a Sunday column: the sharp decline in employment … Continue reading
US / Why Is Age 65 Still a Retirement Peak?
‘In order to address an immediate and long-term funding problem, the Social Security Amendments of 1983 gradually increased the Full Retirement Age (FRA), changed the actuarial adjustment for individuals claiming benefits between the early and full retirement ages, and increased the delayed retirement credit. Together, these changes increase the financial gain to individuals who delay … Continue reading
US / The Jobs Of The Future : The myths of the “knowledge economy” and high-paying jobs
We’re all talking about the “jobs of the future” and “winning the future” and transitioning to a “knowledge economy.” Since predictions are hard, especially about the future, it’s a good idea to look at some data. And it looks like we have some of it: the BLS has a handy chart of the fastest-growing jobs … Continue reading
Sequestration / Unemployment Benefit cut affect about 1.8 million workers
Federally funded benefits paid to the long-term unemployed were lowered by 10.7 percent starting March 31 as part of reductions to planned government spending called sequestration. Benefit cuts will affect about 1.8 million workers, based on Labor Department data, and add to the drag on consumer spending from a payroll tax increase that took effect … Continue reading
US / The number of people getting federal disability checks has grown for 192 straight months – or 16 years
For for 192 straight months -or 16 years – the number of people getting federal disability checks has grown. That’s staggering enough but it seems much of the country is just now waking up to these skyrocketing numbers thanks in large part to a stunning investigative piece for NPR titled “Unfit for Work” which outlined … Continue reading
When Will The Unemployment Rate end the Fed’s Easing Measures ?
The Federal Reserve’s is expected to extend its easing measures until the job market improves “substantially”, the stated goal is a decline of the unemployment rate to 6.5%. One can use the unemployment rate model to provide an estimate of the future unemployment rate (UER). This model suggests that the unemployment rate will decline to … Continue reading
US Labor Shortages / There’s only one problem with this story: It’s mostly fiction
Are we missing a couple million jobs? These would be jobs that exist but lack workers to fill them. The notion that the recovery is being hobbled by too few skilled workers is seductive. It might explain today’s stubbornly high unemployment and why aggressive government policies to promote recovery have been so ineffective. Low interest … Continue reading
US / Surpassing much of Europe in youth unemployment
The United States has quietly surpassed much of Europe in the percentage of young adults without jobs. It’s not just Europe, either. Over the last 12 years, the United States has gone from having the highest share of employed 25- to 34-year-olds among large, wealthy economies to having among the lowest. The grim shift — … Continue reading
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