Job Market Monitor
United States
New Mexico / Work-sharing, an alternative to layoffs
Instead of cutting jobs, a House bill aims to give companies the option of cutting hours instead. A proposal by Rep. Georgene Louis, D-Albuquerque, that passed the House Tuesday aims to create a “work-sharing” program in New Mexico. Under the bill, companies would have the option of agreeing with the state to trim the hours … Continue reading
Trans-Pacific Partnership good for US job creation Obama says
President Obama said Tuesday that forging new trade deals should serve as a catalyst to job creation and broader economic growth in the United States. At a meeting of the President’s Export Council, Obama said that many of the jobs generated during the nation’s economic recovery have been driven by growing exports amid a goal … Continue reading
Basic Skills / Financial Literacy to Fix America’s Wealth Inequality
The math of wealth is actually pretty simple: It all boils down to four things: 1. How much you start with, 2. How much income you make, 3. How much of your income you save, and 4. How good of a rate of return you get on your savings. So one obvious thing we could … Continue reading
US / Fed shifts focus from inflation to jobs
The focus on jobs represents a historic shift for the central bank that began with the 2008 financial crisis and has intensified in the face of four years of middling economic growth. But how much influence the central bank wields over unemployment remains an open question: It cannot direct businesses to hire or inspire entrepreneurs … Continue reading
US / Long-Term Unemployment Is Still High
Jobs! The economy added 236,000 of them in February, which is good. And, as my colleague Derek Thompson points out, it added more construction jobs than at any time since March of 2007, which is even better. After all, housing is what makes recoveries go boom. But let’s be honest. Even with our nascent housing … Continue reading
US / unemployment rate for the 2011 cohort of recent college graduates was 12.6 percent
Every year, thousands of recent graduates of colleges and universities across the United States enter the labor force with newly minted degrees and high hopes about their employment prospects.1 In October 2011, 74.5 percent of the 1.3 million 2011 recent college graduates were employed, according to data from the Current Population Survey (CPS). The unemployment … Continue reading
US / A Facts Sheet on Federal Minimum Wage
The minimum wage is not indexed to the price level. It has been legislatively increased from time to time to make up for the loss in its real value caused by inflation. In nominal (current dollar) terms, the minimum wage has risen steadily from 25 cents to $7.25 an hour, where it has remained since … Continue reading
US / Nonfarm payrolls surged 236,000 jobs and jobless rate fell to 7.7 percent
U.S. employers stepped up hiring in February, pushing the unemployment rate to a four year-low and suggesting the economy has enough momentum to withstand the blow from higher taxes and deep government spending cuts. Nonfarm payrolls surged 236,000 jobs last month, the Labor Department said on Friday, handily beating economists’ expectations for a gain of … Continue reading
US / A Chart on the Unrecovering Job Market Recovery
because of population growth, getting back to where we were five years ago isn’t enough. To get back to full employment, we need to have millions more jobs than we had then. This led us to wonder: What would Scariest Jobs Chart Ever look like if you compared the past five years with comparable periods … Continue reading
US / 14 years lost for preparing retirement
ICI recently released their retirement plan data through Q3 of 2012. The chart of the day shows the real (inflation adjusted) total retirement market assets per working age citizen in the U.S. This includes IRA’s, defined contribution plans, private defined benefit plans, state and local government pension plans, federal pension plans, and annuities. The good … Continue reading
US / 71% Back Raising Minimum Wage
Seven in 10 Americans say they would vote “for” raising the minimum wage to $9 per hour if given the opportunity, while 27% would vote against such a bill. The proposal, made by President Barack Obama in his 2013 State of the Union speech, is backed by over 90% of Democrats and self-described liberals, and … Continue reading
US / Vacancies are there, but hiring is not
American employers have a variety of job vacancies, piles of cash and countless well-qualified candidates. But despite a slowly improving economy, many companies remain reluctant to actually hire, stringing job applicants along for weeks or months before they make a decision. If they ever do. The number of job openings has increased to levels not … Continue reading
US / 59% Think the Economy Is In a Recession
The IBD/TIPP Economic Optimism Index declined by 5.1 points, or 10.8%, in March, posting 42.2 vs. 47.3 in February. The index is 5.5 points below its 12-month average of 47.7, 2.2 points below its reading of 44.4 in December 2007 when the economy entered the recession, and 7.5 points below its all-time average of 49.7. … Continue reading
US / When Unemployment Runs Dry
Over 4 Million Americans are considered now long term unemployed. They are not only disconnected from the work force, but may be also disconnected from the mainstream culture. If we can’t get them reconnected, we are looking at devastating costs to not only them, but our society as a whole. There is a 50% increase … Continue reading
US / College graduates have low unemployment
It is true that young workers have higher unemployment rates than their older counterparts, at just about all levels of education. A recent report published by the Bureau of Labor Statistics on the job prospects of new college graduates, for example, found that as of October 2011, the graduates of the class of 2011 had … Continue reading
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