Job Market Monitor
United States
UK – Schools are too focused on exam results alone say students themselves
Schools are still far too focused on exam results and are not doing enough to equip their students for the workplace, according to students themselves. The new research released today, which questioned both secondary school aged students and their parents, saw three quarters (76%) of pupils say that their school trains them just to pass … Continue reading
Unbundled Higher Education in US – How to facilitate access while protecting consumers and taxpayers
In the face of increasing costs and lackluster outcomes, traditional higher education is under increasing pressure to prove its value proposition. Meanwhile, new providers have “unbundled” the components of a postsecondary degree or certificate, offering stand-alone courses or sequences of courses, targeted job training, and assessments and certifications, often at much lower cost than existing … Continue reading
US – Of the 6.6 million jobs added during the recovery, 2.9 million were good jobs report finds
After years of slow growth, jobs are back in large numbers. The national unemployment rate is now 5.3 percent, down from the peak of 10 percent in October 2009. The economy added 250,000 jobs per month in 2014, the best year in job growth since the beginning of the millennium. The job growth fell off … Continue reading
Telecommuting for Work in US – From 9% to 37% in 20 years Gallup finds
Thirty-seven percent of U.S. workers say they have telecommuted, up slightly from 30% last decade but four times greater than the 9% found in 1995. These results are based on Gallup’s annual Work and Education poll, conducted Aug. 5-9. Chosen excerpts by Job Market Monitor. Read the whole story at In U.S., Telecommuting for Work Climbs to … Continue reading
Prime Age Workers in US – 6.1 percentage points decline in employment between 1999 and 2013
The share of prime-age adults who worked at some point during the year declined about 6.1 percentage points between 1999 and 2013 (note this differs somewhat from LFP). The share of people who did not work during the year because they could not find work (unemployed) picked up around 1.6 points. The share of people who … Continue reading
The Current Population Survey (CPS) in US – A massive fraud coming out of its Philadelphia region
Back in 2012 a whistleblower told the Census Bureau about a massive fraud coming out of its Philadelphia region. One of the guys who was supposed to be going door-to-door surveying people in the Washington, DC, area about their employment situation was faking the responses. As it turned out, that guy — Julius Buckmon — … Continue reading
US – Higher education didn’t protect hispanic and black wealth study finds
College-educated families usually earn significantly higher incomes and accumulate more wealth than families headed by someone who does not have a four-year college degree. The income- and wealth-boosting effects of education apply within all racial and ethnic groups. Higher education may also help “protect” wealth, buffering families against major economic and financial shocks and mitigating … Continue reading
US – The rightward shift in the Beveridge curve
One feature of how the labor market looks different from before the Great Recession is captured in the Beveridge curve relationship, as shown here (vacancy rate vs. unemployment rate): We’re interested in the Beveridge curve, in part because the relationship falls out of conventional Mortensen-Pissarides search models of the labor market. In that model, we … Continue reading
US – 40% of survey respondents say they’re living paycheck-to-paycheck
While the U.S. economy continues to improve and consumer sentiment remains above a baseline level for optimism, many consumers are still searching for fiscal relief. In fact, 40% of respondents in a recent Nielsen survey say they’re living paycheck-to-paycheck. But in today’s world, what does it actually mean to live paycheck-to-paycheck? In its most basic … Continue reading
Temporary Help Workers in the U.S. Labor Market
The number of jobs in the temporary help services industry reached an all-time high of 2.9 million in May 2015, accounting for 2.4 percent of all private sector jobs in the U.S. economy. This short report looks at the latest official U.S. government statistics on the temporary help services industry and its workforce to provide … Continue reading
US – Teens aren’t working summer jobs anymore
At 41.3 percent, the July labor force participation rate of teens was the lowest for the month in the post-World War II period. The teenage summer job has been going the way of telephone booths and the cassette tape for decades. The length of the downward trend has been masked by the fact that it’s hard … Continue reading
US July Jobs Report – 2.9 million jobs over the past 12 months
The U.S. economy added 215,000 jobs in July, continuing a steady expansion. Friday’s report from the Labor Department showed few changes from the prior month on a range of measures, including the unemployment rate, at 5.3%, and the labor-force participation rate. The economy has added around 2.9 million jobs over the past 12 months. That’s … Continue reading
Millennials in US – Less likely to be living independently of their families
Five years into the economic recovery, things are looking up for young adults in the U.S. labor market. Unemployment is down, full-time work is up and wages have modestly rebounded. But, according to a new Pew Research Center analysis of U.S. Census Bureau data, these improvements in the labor market have not led to more … Continue reading
Minimum Wage in US – The Tracker
There are 14 states that have changed their minimum-wage law since January 2014. Alaska, Arkansas, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, Michigan, Minnesota, Nebraska, Rhode Island, South Dakota, Vermont, and West Virginia The effective minimum wage has increased in 26 states and D.C. since January 2014. Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Maryland, … Continue reading
US – CEO pay was, on average, more than 370 times higher than the income of the average American worker Stifel finds
According to a recent report from the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), S&P 500 company CEOs made an average salary package of $22.6M in 2014, up nearly $2M from the previous year. Alternatively, according to the Bureau of Labor Statistics (BLS), the average worker in the US made only $36.1k … Continue reading
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