Job Market Monitor
United States
US – Nine years after the bust began, construction employment has made up only about a third of its losses
The labor market for construction workers suffered a massive shock in the wake of the housing bust, as demand for new homes dried up and firms rapidly shed workers. Employment in the construction sector fell nearly 25 percent from more than 11-1/2 million in 2006 to about 9 million in 2010. Even though the construction … Continue reading
US – Wages growth is breaking out at restaurants and bars
Wage growth is breaking out in an unexpected corner of the U.S. economy: the nation’s restaurants and bars. Food-service employment has surged since the recession ended nearly six years ago, growing twice as fast as overall payrolls. But those gains had largely failed to translate into better wages in the sector, until recently. Restaurant wages … Continue reading
US – Unnoticed President Obama’s action on immigrants integration
[An] aspect of President Obama’s executive action has gone almost unnoticed: the establishment of a taskforce to focus on the integration of immigrants into the economy and their communities. Recognizing the important role that immigrants play in today’s economy, and the growing role they will play in the coming decades, the White House Taskforce on New Americans aims to … Continue reading
Social Security in US – Rising wage inequality has eroded the finances of the system
This issue brief explores how rising wage inequality has affected the financial outlook of Social Security. We first provide a brief overview of Social Security’s funding structure and its current financial outlook based on the Social Security Administration’s, or SSA’s, most recent projections. Next, we highlight relevant wage trends that have impacted the trust funds’ … Continue reading
US – The Wage Stagnation in charts
Wage stagnation for the vast majority was not created by abstract economic trends. Rather, wages were suppressed by policy choices made on behalf of those with the most income, wealth, and power. In the past few decades, the American economy generated lots of income and wealth that would have allowed substantial living standards gains for … Continue reading
Closing the Skills Gap in US – Walmart pledges $100 million to boost jobs
America’s largest company launches a new initiative to help the retail industry close the skills gap that keeps Americans unemployed. One week after announcing plans to increase the pay of low-wage workers to at least $9 an hour, Walmart is delivering more good news on the job front: The company will donate $16 million to … Continue reading
2015 US Manufacturing Skills Gap Report – The skills gap is widening
A strong manufacturing industry is fundamental to our nation’s economic prosperity. Since the industrial revolution, manufacturing has contributed to higher export potential, better standards of living, and more jobs. Investments in manufacturing have a strong multiplier effect for the broader economy, too. Every dollar spent in manufacturing adds $1.37 to the U.S. economy, and every 100 … Continue reading
Millennials in US – Myths, Exaggerations and Uncomfortable Truths : an IBM Study
IBM today announced that pretty much everything you thought you knew about Millennials could well be wrong. A new IBM study reveals much of the hype about Millennial employees simply isn’t true. They aren’t the “lazy, entitled, selfish and shallow” workers that many believe them to be. The results of the global, multigenerational study “Myths, Exaggerations and Uncomfortable Truths” … Continue reading
US – Alternative entrepreneurship measures indicate that entrepreneurship is back to pre-crisis levels Boston Fed finds
In recent years, it is argued, the level of entrepreneurial activity in the United States has declined, causing concern because of its potential macroeconomic implications. In particular, it is feared that a lower rate of firm creation may be associated with lower productivity growth and, hence, lower economic growth in the coming years. This paper … Continue reading
US – Unemployment rates among college graduates are declining
Hard times are becoming better times for most college graduates, though how much better varies widely among college majors – and for Communications and Journalism majors, whose unemployment rates are still rising, better times have yet to arrive. Overall, however, unemployment rates among college graduates are declining. The earnings advantage they enjoy over high school … Continue reading
US – The broad facts of income inequality over the past six decades
The broad facts of income inequality over the past six decades are easily summarized: The years from the end of World War II into the 1970s were ones of substantial economic growth and broadly shared prosperity. Incomes grew rapidly and at roughly the same rate up and down the income ladder, roughly doubling in inflation-adjusted … Continue reading
US – The 2015 Economic Report of the President on the labor market
Chapter 3 of [The 2015 Economic Report of the President] addresses the opportunities and challenges facing the U.S. labor market. The sharp drop in unemployment in 2014 came amid a stabilization in the labor force participation rate and the strongest annual job growth since the 1990s as businesses added more than 3 million jobs. But … Continue reading
Massive Open Online Courses (MOOC) in US – Coursera goes to train the unemployed
As Coursera has expanded to become a leading platform for massive open online courses, so has its acceptance as a training ground for skills sought after by employers around the world. In this interview with McKinsey’s Michael Chui, Coursera CEO Richard Levin, whose background includes 20 years as president of Yale University, explores the platform’s … Continue reading
US – Measuring the Skills Gap
CIO Magazine Publisher Emeritus Gary J. Beach has been studying the skills gap problem for a number of years and has authored numerous articles on the subject. In 2013, he published a book titled The U.S. Technology Skills Gap. I recently asked him why there is an overall lack of awareness about the skills gap … Continue reading
People with Disabilities in US – Recruiting, Hiring, Retaining, and Promoting: A guide for employers
This resource guide identifies relevant federal and federally funded resources for employers looking to recruit, hire, retain, and promote people with disabilities. It is designed to answer common questions raised by employers and to identify relevant resources for employers who want additional information on specific topics. The goal of this guide is to help employers … Continue reading
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