Job Market Monitor
United States
US – Unemployment rates still above prerecession levels in 36 states
The recession is over, but it’s certainly not forgotten across most of the U.S.: Unemployment last year remained elevated compared with 2007 levels in more than two-thirds of the states. The Labor Department reported Friday that average annual jobless rates fell in 2015 from the prior year in 47 states plus the District of Columbia. … Continue reading
US – Protecting Social Security and reducing unemployment, poverty, and the federal budget deficit as most important pool says
With mixed views of the national economy and their own financial situation, Americans want priority given to several different economic problems. In the latest poll conducted by The Associated Press-NORC Center for Public Affairs Research, the public sees protecting Social Security and reducing unemployment, poverty, and the federal budget deficit as most important to them … Continue reading
Labor Force Participation in US – About half of the decline is attributable to the weakness of the economy rather than changes in demographics
Between 2007 and 2015, the LFPR dropped 3.4 percentage points, equivalent to over 8 million people leaving the labor force. About half of this decline is attributable to the weakness of the economy rather than changes in demographics. Factoring in the rise in unemployment over this period, this translates into over 5 million fewer people … Continue reading
Income from the Platform Economy in US – Increased 47-fold over three years
Americans experience tremendous income volatility, and that volatility is on the rise. Income volatility matters because it is hard to manage. The typical household faces a shortfall in the nancial bu er necessary to weather this volatility. Moreover, the decline in real wages since 2009 for all income groups except the top 5th percentile means … Continue reading
US – Wages are lower for BA holders raised on low incomes
The proportional increase for those who grew up poor is much less than for those who did not. College graduates from families with an income below 185 percent of the federal poverty level (the eligibility threshold for the federal assisted lunch program) earn 91 percent more over their careers than high school graduates from the … Continue reading
The Skills Gaps in US – Where are the biggest gaps?
A July 2014 Financial Sense article reported that according to the National Federation of Independent Business, an advocacy group for small business, “The proportion of business owners reporting that they can’t find qualified applicants has been trending steeply upward since the end of the recession.” Further, “the most commonly cited shortages are in technical trades … Continue reading
The Temporary Help Industry in US – 2 percent of average daily employment and accounted for 11 percent of net employment losses during the Great Recession
The temporary help industry, although small, plays a significant role in the macro economy, reflecting employers’ growing reliance on temporary help agencies to provide flexibility in meeting staffing needs. The temporary help industry accounts for about 2 percent of average daily employment in the U.S. economy but plays an outsized role in workforce adjustment during … Continue reading
The IT workforce in US – 5.04 million workers with job growth of 3.1%, or nearly 152,000 additional IT jobs
According to the research consultancy IDC, the global information technology (IT) market, encompassing hardware, software, services, and telecommunications, is expected to reach $3.8 trillion in 2016, up from $3.7 trillion the previous year. The U.S. market accounts for approximately 28% of the total, or slightly more than $1 trillion. Over the past decade, the biggest … Continue reading
US – The productivity imperative and the labor markets
The productivity imperative The past 50 years have been a remarkable period for global GDP growth, which was driven in equal measures by expanding the labor pool and increasing the productivity of those worker. But one of those drivers is running out of steam. As the workforce ages in many of the world’s largest economies, … Continue reading
The January 2016 Job Report in US – Charts
Chosen excerpts by Job Market Monitor. Read the whole story at The January Jobs Report in 12 Charts – Real Time Economics – WSJ Related Posts Job Report in US – What the White House says POSTED BY MICHEL COURNOYER ⋅ FEBRUARY 6, 2016 ⋅ LEAVE A COMMENT With the unemployment rate below 5 percent for the first time in almost … Continue reading
The January 2016 Job Report in US – Manufacturing jobs hit 7-year high
Apparently, no one told American manufacturers that their business is collapsing, because they kept on hiring more workers in January.The Bureau of Labor Statistics reported Friday that manufacturing companies added 29,000 workers in January to reach a seven-year high of 12.4 million. After a soft patch in the middle of last year, it was the … Continue reading
Job Report in US – What the White House says
With the unemployment rate below 5 percent for the first time in almost 8 years, here are five things you need to know about where our economy stands. Source: As Unemployment Drops Below 5%, Here Are Five Facts About America’s Jobs Market | whitehouse.gov Related Post Job Report in US, January 2016 – American employers … Continue reading
Job Report in US, January 2016 – American employers eased up on the gas
Total nonfarm payroll employment rose by 151,000 in January, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in several industries, led by retail trade, food services and drinking places, health care, and manufacturing. Employment declined in private educational services, transportation and warehousing, … Continue reading
Skills Gap in US – An employer-driven talent supplier recognition and certification system is needed US Chamber of Commerce says
There is no time to waste. The skills gap continues to worsen while government policies to improve employer responsiveness through accreditation reform continue to fall short. More employers and business and industry associations now see the need and opportunity to explore an employer-led solution during a time of growing debate on the role of government … Continue reading
College-Educated Immigrants in US – Has grown at more than twice the rate of U.S. born
The number of immigrants with higher education has grown at more than twice the rate of the same population among the U.S. born. Between 1990 and 2000, the college-educated immigrant population increased 89 percent from 3.1 million to 5.9 million, and a further 78 percent between 2000 and 2014 (from 5.9 million to 10.5 million, … Continue reading
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