Job Market Monitor
United States
US / Labor Economics / Is the the Beveridge curve shifthing ?
When trying to determine if high unemployment is being caused by weak demand or by a mismatch between jobs and the skills of job seekers, economists look at the Beveridge Curve. It represents the relationship between the unemployment rate and the job vacancy rate. On a simple chart, vacancies are on the vertical axis and unemployment … Continue reading
US / The recession has not affected all Americans equally
The recession has not affected all Americans equally. While overall unemployment hovers around 8 percent, the reality was much different depending on your racial and ethnic background. African-Americans had an unemployment rate of 14.1 percent, nearly double the rate of whites at 7.2 percent. Hispanics had the second highest unemployment rate at 10.2 percent. And … Continue reading
US / More Would Opt for a Business Job Than a Gov’t Job
By 60% to 35%, more U.S. adults would rather work for a business than for government, unchanged from January 2010. Among those currently employed for pay, preferences are similar: 63% would rather work for business and 33% for government. Source: More in U.S. Would Opt for a Business Job Than a Gov’t Job.
US / Only major economy where the younger generation not to be better educated than the older
An integral part of the American Dream is under threat – as “downward mobility” seems to be threatening the education system in the United States. The idea of going to college – and the expectation that the next generation will be better educated and more prosperous than its predecessor – has been hardwired into the … Continue reading
Domestic workers / Low pay is a systemic problem, but not the only one
Domestic workers earn substandard pay, and enjoy little economic mobility or financial security. Formal employment contracts are rare in the domestic work industry, and where work agreements do exist, employers frequently violate them. Employers think of their homes as safe, yet domestic work can be hazardous. Domestic workers who encounter problems frequently feel too vulnerable … Continue reading
Military / Adjusting for demographic differences, spouses have higher unemployment rates
Policymakers need to understand whether military spouses succeed at finding jobs and how veterans fare economically after they leave military service. But these groups differ from the civilian population in important ways, making comparisons difficult. Researchers must adjust comparisons to account for demographic differences across these populations to provide useful information to policymakers. Using data … Continue reading
Reshoring / There was a herd mentality to the offshoring says John Shook
Business practices are prone to fads, and in hindsight, the rush to offshore production 10 or 15 years ago looks a little extreme. The distance across the Pacific Ocean was as wide then as it is now, and the speed of cargo ships was just as slow. A lot of the very good reasons for … Continue reading
US / Green cards to US-trained math and science experts
The US House passed a bill today that would replace the green card lottery with a program that awards permanent residency visas to foreign graduates of US master’s and doctoral programs in science, technology, engineering and math, Reuters reported. Under the current green card lottery system, people from countries with low rates of immigration are … Continue reading
US / Toyota / Retirement incentives offered to 2,000 employees
Toyota Motor Corp (7203.T) said on Friday it is offering retirement incentives to about 2,000 U.S. workers, or 10 percent of its employees in the country, in an effort to manage attrition of its aging work force. About 1,600 workers at the Japanese automaker’s Georgetown, Kentucky plant, or about a quarter of the work force … Continue reading
US Public Pension Funding / Aggregate underfunding of $0.895 trillion
The Milliman Public Pension Funding Study independently measures the aggregate funded status of the 100 largest U.S. public pension plans using basic actuarial principles and reported plan liabilities and assets. The aggregate accrued liability information provided has been determined on a uniform basis with respect to the interest rate assumption across all of the plans … Continue reading
US / Birth Rate Falls to a Record Low, Worse Among Immigrants
The U.S. birth rate dipped in 2011 to the lowest ever recorded, led by a plunge in births to immigrant women since the onset of the Great Recession. The overall U.S. birth rate, which is the annual number of births per 1,000 women in the prime childbearing ages of 15 to 44, declined 8% from … Continue reading
NY / Hundreds of workers at dozens of fast-food chain stores are walking out on strike
The term “McJob” has come to epitomize all that’s wrong with the low-wage service industry jobs that are growing part of the U.S economy. “It beats flipping burgers,” the cliché goes, because no matter what your job might be, it’s assumed to be better than working in a fast-food restaurant. Today in New York City, … Continue reading
Unemployment Rates / US: Education still matters
Unemployment does not strike indiscriminately. Education, and with it, skills and competencies make a huge difference. Last october, the unemployment rate for 25 years and older (seasonally adjusted) in the United States was more than three times lower among peoples with Bachelor’s degree and higher (3.8%) than among those who have not completed high school … Continue reading
US / Old (white) boys club still alive and well
The proverbial old boys clubs in elite professions may no longer have rules keeping women and minorities out, but an analysis of their hiring practices suggests their upper-class, male and white makeup will stubbornly remain. According to a new U.S.-based study, bankers, lawyers and management consultants would rather hire someone who is like them than … Continue reading
Unemployment Insurance / Claims fell below 400,000
SEASONALLY ADJUSTED DATA In the week ending November 24, the advance figure for seasonally adjusted initial claims was 393,000, a decrease of 23,000 from the previous week’s revised figure of 416,000. The 4-week moving average was 405,250, an increase of 7,500 from the previous week’s revised average of 397,750. The advance seasonally adjusted insured unemployment rate was 2.6 percent … Continue reading
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