Job Market Monitor
United States
US – The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012
The number of workers age 55 and up grew by 3.5 million from September 2009 to September 2012. That represents the lion’s share of the gain of 4.2 million for all workers 16 and older, according to the Bureau of Labor Statistics. Two factors help explain the trend. First: demographics. In the three years ended … Continue reading
Older Workers / Unemployment Duration / US : Chances of finding another job are low
“After reaching record highs month after month, the typical length of time a jobless worker in the United States has been unemployed finally fell in April’ 2011, to “only” 38.3 weeks. But the outlook is looking bleaker for the nation’s older workers.” wrote Catherine Rampell in Older Workers Without Jobs Face Longest Time Out of … Continue reading
Participation Historical Paterns: The unemployment rate today would be 9.3%
Some people — notably Republican presidential candidate Mitt Romney — have argued that to get the “real” unemployment rate, we should add back all the people who have left the labor force and consider them unemployed. Doing that gives an unemployment rate of around 11%, depending on what month you choose for a baseline. But … Continue reading
Chinese investment in US between 2000 and 2012 had created 27,000 jobs
Foreign direct investment in the United States from China hit a record high through the first nine months of 2012 despite election-year rhetoric against the country and a congressional report casting national-security suspicions on two Chinese tech companies. During this year’s first three quarters, Chinese enterprises poured $6.3 billion in FDI in the US, according … Continue reading
Update – US – Omitted California claims: Calif. official under-reporting was Obama campaign donor?
The reason for the massive drop in jobless claims two weeks ago was because the BLS forgot to include California in their report. (US – Jobless claims dropped because BLS omitted California) Now we learn that the Calif. official whose agency under-reported unemployment stats was Obama campaign donor Marty Morgenstern, the secretary of the California agency … Continue reading
Immigrant workers | Boosting The Incomes Of Less-Educated Native Workers
. The Economic Impact of Immigrant-Related Local Ordinances “… provides the first comparative look at the average economic effects of how restrictive versus non-restrictive immigration-related city ordinances affect a city’s business environment” writes the Americas Society. “Since 2005, in a climate of increasing concern and urgency about the nation’s current and future migratory flows, cities and … Continue reading
US Competitiveness – STEM – Change the Equation
“… The U.S. will be short as many as 3 million high-skills workers by 2018, according to a Georgetown University report issued last year. Two thirds of those jobs will require at least some post-secondary education, says Anthony Carnevale, director of the Georgetown’s Center on Education and the Workforce.” “So dire are the predictions about … Continue reading
World Bank – Brain Drain: Some myths and common concerns not founded
“High-skilled emigration is an emotive issue that in popular discourse is often referred to as brain drain, conjuring images of extremely negative impacts on developing countries. Recent discussions of brain gain, diaspora effects, and other advantages of migration have been used to argue against this, but much of the discussion has been absent of evidence.” write John Gibson and … Continue reading
The consequences of job loss for workers
When workers get laid off, they typically pay a large economic price. This is true even for those lucky enough to find a new job, because most tend to earn wages substantially lower than what they earned previously. The figure below, from The State of Working America, 12th Edition, shows the average weekly earnings loss of … Continue reading
American Airlines – Plans to hire more than 1,500 new flight attendants
American Airlines Inc. today said it would hire more than 1,500 new flight attendants in the next year to serve its international flight and training needs. American will begin the recruiting and hiring process next month and training will begin in January. The hiring news comes three weeks after 2,250 American flight attendants signed up … Continue reading
US – The Great Recession Was Worst on the Poor
The Great Recession hit all of us, but it didn’t hit all of us equally. It turns out the more you had to lose, the less you lost. The chart below from Amir Sufi, a professor of finance at the University of Chicago Booth School of Business, shows us this depressing story in three graphs. … Continue reading
Wave of Reshoring in U.S. Manufacturing?
U.S. manufacturing is in a period of resurgence, and while it is too early to say if the positive momentum has staying power, the sector’s revival is being aided in part by the return of production to the United States that had been outsourced to lower-wage rate locations overseas, particularly China and developing Asian economies … Continue reading
Microsoft – Layoffs at Lionhead
Guildford studio Lionhead has endured a further misery following the launch of its poorly received Kinect exclusive Xbox 360 game Fable: The Journey. Parent company Microsoft confirmed it has issued redundancies to “less than ten per cent of staff”. In a statement sent to industry publication Develop, the platform holder added: “Following the completion of … Continue reading
US Economy – 60 Leading Economists Survey
If we’re ever going to get out of this slump, what will it take? Foreign Policy asked more than 60 leading economists to tell us. via The FP Survey: The Economy | Foreign Policy.
US – Federal Employees – 2 percent of total employment, less than half of what it was in the early 1960s
In our country, tax cuts and spending increases gave the economy a badly needed boost in the depths of the recession and early in the recovery. But these stimulus measures have been expiring. At the same time, states and localities have cut spending and raised taxes as they struggle to balance their budgets. As a … Continue reading
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