Job Market Monitor
United States
US – Employee or independent contractor ? DOL issues with fresh guidance
The Labor Department has waded into a heated workplace issue with fresh guidance on how businesses should distinguish between employees and independent contractors. So-called employee misclassification has become a hot topic recently as the economy has changed and hundreds of growing businesses such as Uber Technologies turn increasingly to contract workers. On Wednesday, the administrator … Continue reading
College Graduates in US – States ranking for job openings online
In The Online College Labor Market, we analyzed job openings for college graduates in the national labor market using an important new data source: online job ads data. Using data provided by one of the leading developers of online job ads data, Burning Glass Technologies, we find the data capture a growing share of the … Continue reading
Youth Unemployment in US – Starbucks leads vow to hire 100,000
Several corporate giants, including Starbucks and Wal-Mart, on Monday announced the “100,000 opportunities initiative” – a program aimed at hiring 100,000 youngsters aged 16-24 years who face systemic barriers to jobs and education. The initiative is part of corporate social responsibility by more than a dozen leading, U.S.-based companies, aiming to provide by 2018, apprenticeships, … Continue reading
Vocational education and training has been neglected OECD says
“Vocational education and training has been neglected. If “strong vocational programmes increase competitiveness”, “many programmes fail to meet labour market needs” writes the OECD in LEARNING FOR JOBS: SUMMARY AND POLICY MESSAGES. The OCDE review “aims to bridge the gap between learning and jobs, by exploring how to make initial vocational education and training for … Continue reading
US – Jobs Openings increased to record 5.4 million in May
From the BLS: Job Openings and Labor Turnover Summary The number of job openings was little changed at 5.4 million on the last business day of May, the highest since the series began in December 2000, the U.S. Bureau of Labor Statistics reported today. The number of hires was unchanged at 5.0 million in … Continue reading
The decline in labor force participation in US – What the Economic Report of the President says
The decline in labor force participation between the fourth quarter of 2007 and the fourth quarter of 2014 can be decomposed into three parts: an aging population, the economic downturn, and a residual that is attribut‐ able to other factors. Figure 3‐6 shows the decomposition of this decline over time based on CEA modeling. By … Continue reading
Self-Employed in US – The high cost
Working for yourself is liberating—and extraordinarily expensive. You face steep tax bills, have to buy your own health and disability insurance, and need to fund retirement with no help from an employer. Add it all up, and the numbers start to look ugly. Tempted to join America’s 15 million self-employed? Here is a reality check: … Continue reading
Minimum Wage Job Impact in US – The results of the vast majority of analyses cluster around zero
Finally, I’m sure that this board has heard or will hear arguments that increasing the minimum wage in fast food will lead to job losses or slower job creation. There is an enormous body of literature on the effect of higher minimum wages on jobs. Figure B shows the results of a “meta-study,” a study … Continue reading
US – The June Jobs Report in Charts
Here’s a look at what the latest release from the Labor Department on Thursday tells us about the state of the U.S. economy, in 10 charts. Chosen excerpts by Job Market Monitor. Read the whole story at The June Jobs Report in 10 Charts – Real Time Economics – WSJ. Related Posts Job Report in US … Continue reading
US – June 2015 Job Report vs October 1977
So what exactly did the United States look like in October 1977, the last time the labor-participation rate was this low? Obviously the most important question is what Americans were listening to. (The month’s top songs were Debby Boone’s “You Light Up My Life” and—seriously—Meco’s “Star Wars Theme/Cantina Band.”) The American economy at the time … Continue reading
US – Some 432,000 people left the workforce
The size of the labor force tanked last month, helping to make for a very mixed June jobs report. Though payrolls climbed at a healthy clip, some 432,000 people left the workforce, Labor Department data showed. That sent the participation rate — which tracks the share of working-age people who are either employed or looking for work — to 62.6 … Continue reading
Reactions to June Jobs Report – ‘Certainly Disappointing’ economists say plus the White House
“This isn’t a terrible report by any means but it’s certainly disappointing. The lack of wage growth continues for another month while the labor market’s improvement certainly stalled. In terms of the Federal Reserve, one report never really changes the general narrative and this one certainly does not. We still think the Fed is on … Continue reading
Job Report in US – Payroll employment rises by 223,000 in June; unemployment rate declines to 5.3%
Editor’s note: While the establishment survey says that payroll employment rose by 223,000 in June, the household survey indicates that the number on people employed dropped by 56 000. This kind of result is not unusual, but it tends to come near turning points. Next months and other indicators will tell us. Total nonfarm payroll employment … Continue reading
US – Lowest-Paid jobs lead wage gains
Average hourly earnings in industries paying less than $12.50 an hour a year ago rose 3.2 percent in the 12 months through April, about 1 percentage point more than wage growth for the job market as a whole, according to Goldman Sachs Group Inc. This development may be the start of a long-awaited catch-up for … Continue reading
US – Gallup’s Job Creation Index at Record High of +32 (June 2015)
Gallup’s U.S. Job Creation Index remained high in June at +32. The index score — based on 43% of workers saying their employer is hiring workers and expanding the size of its workforce and 11% saying their employer is letting workers go and reducing the size of its workforce — is the same as what … Continue reading
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