Job Market Monitor
United States
Postsecondary Education and Training Matter
After suffering the largest share of job losses in the recession, Americans with no more than a high school education have continued to lose jobs during the sputtering recovery while better-educated people have gained millions of jobs, according to a Georgetown University study Over nearly five years of financial turmoil, Americans across a broad … Continue reading
Obama’s Welfare-to-Work Plan and The Romney campaign
Does it make sense for states to try new approaches to help poor parents find jobs? The Obama Administration thought so. Temporary Assistance for Needy Families (TANF), which provides very little assistance to very poor families with children, has not been especially effective at placing single moms in jobs. Even in good times, nearly half … Continue reading
US – Energy could add 3.6 Million Jobs
U.S. energy supplies have been transformed in less than a decade, driven by advances in technology, and the economic implications are only beginning to be understood. U.S. natural gas production will expand to a record this year and oil output swelled in July to its highest point since 1999. Citigroup Inc. (C) estimated in a … Continue reading
US – Hilda Solis – No Community Has Suffered More in Recession Than Latino Construction Workers
In a speech given at the Center for American Progress on Aug. 7th, Obama Labor Secretary Hilda Solis talked on the subject of job opportunities for the Latino community. After noting that she want an economy that “works for everyone and not just the privileged few“ the Secretary warned that the Administration will continue to ”put pressure on congress to … Continue reading
US – Outlook – Budget impasse blocking growth
Most economists surveyed by USA TODAY have little faith a divided Congress will adequately address looming tax increases and spending cuts, significantly hampering economic growth well into 2013… via Economists see budget impasse blocking growth – USATODAY.com. Related articles IMF – Global Economic Outlook More Worrisome Neither Obama nor Romney Will Jump Start Jobs Growth … Continue reading
99ers are no more
The 99ers are no more. There are still plenty of people who have been out of work for 99 weeks or more, to be sure. But the 99 weeks of unemployment secured by one tier of extended benefits have ended. This has affected a half-million workers, and it’s a direct result of … Continue reading
US – Unemployment Insurance – Cutbacks Came Long Before the Great Recession
Cutbacks in Unemployment Insurance Ccme long before the Great Recession. Unemployed American are less and less insured. Statistics on insured unemployment in the United States are collected as a by-product of UI programs. Workers who lose their jobs and are covered by these programs typically file claims (“initial claims”) that serve as notice that they … Continue reading
Book – Sabotage: How the Republican Party Crippled America’s Economic Recovery
by Daniel Altman. Excerpt: When Americans go to the polls this November, they’ll be looking for some payback. The Great Recession supposedly ended in June 2009, but what followed was hardly the kind of bounce that usually put the economy back on its feet. Rather, in the following two years the economy produced about two … Continue reading
US Job Market Nearly ‘In Recession’
US Job Market Nearly ‘In Recession’ “…Some economists and analysts now wonder if the BLS seasonal adjustments are somehow off a bit. If the financial crisis and recession mucked with the seasonal ebb and flow of the economy, then the adjustments that BLS makes for its monthly reports might be a bit skewed. Some jobs … Continue reading
At the July 163 000 jobs rythm, it would take up to 2025 to recover
What the NYT Says With 163,000 new jobs created, July’s employment growth topped both analysts’ expectations and the meager job gains in May and June. While that growth was not enough to reduce the jobless rate – now 8.3 percent – it was enough to boost the stock market. For investors, the job tally was … Continue reading
US – July – Thx to the shrinking labor force: Employment rose by 163 000, not enough for the unemployment rate to fall (up @ 8.3%)
Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and manufacturing. via Employment Situation Summary. -*- The drop in participation is larger for men than … Continue reading
US Budget Cuts – Uncertainty May Relieve Companies Of Layoff Notice Requirement
Companies may not have to send employees a warning of potential layoffs because of possible across-the-board budget cuts next January, according to the U.S. Department of Labor. Under the Worker Adjustment and Retraining Notification (WARN) Act, companies with more than 100 employees are required to send out notices at least 60 days before potential layoffs … Continue reading
US – Management of the Financial Crisis has given weakest recovery of any in the world since 1970
The Obama administration says one reason the U.S. economic recovery has been so slow is that it is still suffering from the aftermath of the financial crisis. But the U.S. is not the first country to suffer a recession and a financial crisis. And the U.S. recovery is doing worse than all of them. In … Continue reading
Philadelphia Orchestra Exites Bankruptcy
The orchestra stunned the arts community when it became the first major U.S. orchestra to file for Chapter 11 bankruptcy protection in April 2011. Under the reorganization plan, the 111-year-old symphony will shrink from 105 musicians to 95 and cut their pay by about 15 percent. The orchestra also got a break on its rent … Continue reading
Labor-market failures will not be demand-side but structural, not amenable to any straightforward and easily implemented cure
J. Bradford DeLong At first, the long-term unemployed in the Great Depression searched eagerly and diligently for alternative sources of work. But, after six months or so passed without successful reemployment, they tended to become discouraged and distraught. After 12 months of continuous unemployment, the typical unemployed worker still searched for a job, but in … Continue reading
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