Job Market Monitor
United States
After the Great Recession – Americans past 60 have seen their employment and labor force participation rates increase
Unlike prime-age Americans, who have experienced declines in employment and labor force participation since the onset of the Great Recession, Americans past 60 have seen their employment and labor force participation rates increase. In order to understand the contrasting labor force developments among the old, on the one hand, and the prime-aged, on the other, … Continue reading
The 9-to-5 Day Work – Three in five workers believe it is a thing of the past
A typical work day historically involved eight consecutive hours of effort for full-time workers, but today, most don’t stop working when the clock hits 5 p.m. According to a new survey from CareerBuilder, nearly 3 in 5 workers (59 percent) believe the traditional 9-to-5 work day is a thing of the past. Forty-five percent of … Continue reading
College Education in US – Boost to career earnings much lower for individuals who grew up in lower-income families
A college education, it is hoped, will help the children of the poor and working class gain a larger share of the economic pie. But how much does college really pay off for lower-income Americans? Perhaps surprisingly, there has been little research on how family income background influences the career earnings boost from a college … Continue reading
Income Inequality in the US in 2013 – The top 1 percent of families nationally made 25.3 times as much as the bottom 99 percent
While economic inequality has been one of the hottest topics this presidential campaign season, much of the focus has been on the fortunes of the top 1 percent at the national level. This report, our third annual such analysis, uses the latest available data to examine how the top 1 percent in each state have … Continue reading
Community College in US – Just 15 percent acquire a 4-year degree
Community colleges are a vital part of America’s opportunity structure, not least because they often provide a way into higher education for adults from less advantaged backgrounds. Each year there are around 10 million undergraduates enrolled at public, two-year colleges. Among first-generation students, nearly 38 percent attend community colleges, compared to 20 percent of students … Continue reading
The decline in prime-age male labor force participation in US – A White House report
For more than sixty years, the share of American men between the ages of 25 and 54, or “prime- age men,” in the labor force has been declining. This fall in the prime-age male labor force participation rate, from a peak of 98 percent in 1954 to 88 percent today, is particularly troubling since workers … Continue reading
Immigrants in US and Europe – 19% of all international migrants vs 23%
The United States has long been the top destination country for migrants worldwide, though if the European Union, Norway and Switzerland were a single country it would outrank the U.S. as a destination for international migrants. But the U.S. and Europe are quite different when it comes to their migrant populations’ origin countries. In 2015, … Continue reading
Social Media at Work in US – For a wide range of reasons
Workers turn to social media for a range of reasons while at work, with taking a mental break being among the most common Today’s workers incorporate social media into a wide range of activities while on the job. Some of these activities are explicitly professional or job-related, while others are more personal in nature. The … Continue reading
Minorities in US – The majority among infants are from them
The U.S. is projected to have no racial or ethnic group as its majority within the next several decades, but that day apparently is already here for the nation’s youngest children, according to new Census Bureau population estimates. The bureau’s estimates for July 1, 2015, released today, say that just over half – 50.2% – … Continue reading
Occupational Licensing in US – Who they are and the effects on wages and unemployment
Who is licensed? Using the newly released Bureau of Labor Statistics data, it is possible to describe licensed workers and then examine a number of important economic implications of licensing. Licensing varies substantially by occupation. Legal, education, and healthcare occupations feature licensing at particularly high rates, as shown in Figure 1. Note that the increase … Continue reading
The Class of 2016 in US – High school graduates unemployment at 17.9 percent
This paper focuses on recent high school (age 17–20) and college graduates (age 21–24) who are not enrolled in further schooling. We analyze their employment, enrollment, and wage trends in order to glean the Class of 2016’s economic prospects as they start their careers. Due to the progression of the economic recovery and a substantial … Continue reading
Slow Growth in US – At the actual rate, it will take about 160 years to double GDP per person
Over the last decade, the growth rate of real G.D.P. per person has averaged just 0.44 percent per year, compared with the historical norm of 2.0 percent. At a rate of 2.0 percent, incomes double every 35 years. At a rate of 0.44 percent, it takes about 160 years to double. via One Economic Sickness, … Continue reading
Poverty in US – Who are they ?
As a share of the total working-age adult living in poverty population: 18 percent —a third of the non-workers living in poverty—are disabled. 26 percent—just under half of non-workers—are caregivers or students. 6 percent are retired, though it is important to note that only the working-age population is considered here, so this constitutes early retirement. … Continue reading
US – Traditional Remedial Education Is Not Working the Century Foundation finds
Almost two-thirds of students who enter community colleges every year are judged to be academically not ready to engage in college-level coursework. In order to enroll, these students typically must take one or more “remedial” or “developmental” math or English courses that will not count toward their college degree. The students most likely to be … Continue reading
US – The Labor Market Conditions Index is going in the wrong direction
Fed officials, and other economists, have been grappling with the divergence between relatively weak reported economic growth and relatively strong job growth. Those at the Fed have largely taken the view that labor market data is more accurate, which has been true over time. Wrong Direction The Federal Reserve created an index to better measure … Continue reading
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