Job Market Monitor
United States
US – The trend employment-to-population ratio has been falling for over a decade Chicago Fed finds
The labor force participation (LFP) rate—the share of the working-age population that is either employed or jobless and actively looking for employment—has fallen from 66 percent at the beginning of the Great Recession in December 2007 to 62.7 percent in September 2014.1 To some, this decline suggests the possibility that there may be labor market … Continue reading
2015 in US – The Year of the Minimum Wage
A lot has happened in America this year. But economics columnists might well dub this “the Year of the Minimum Wage.” The year started off with a hike to $15 an hour in the area around Sea-Tac Airport; by June, Seattle’s City Council had followed suit, passing a similar increase that phases in gradually. Chicago is raising … Continue reading
Apprenticeship in US – A strong intermediary is key to a strong program report finds
As detailed in the recent Center for American Progress report, “Training for Success: A Policy to Expand Apprenticeships in the United States,” apprenticeship is a workforce-training model that combines on-the-job training with classroom- based instruction and has been proven to benefit employers, employees, and the overall economy. Apprenticeships allow businesses to meet the growing demand … Continue reading
US – Less households “at risk” of being unable to maintain their standard of living in retirement
The release of the Federal Reserve’s 2013 Survey of Consumer Finances (SCF) is a great opportunity to reassess Americans’ retirement preparedness as mea- sured by the National Retirement Risk Index (NRRI). The NRRI shows the share of working-age households who are “at risk” of being unable to maintain their pre-retirement standard of living in retirement. … Continue reading
Teachers in US – Why do they quit?
Teaching, Ingersoll says, “was originally built as this temporary line of work for women before theygot their real job—which was raising families, or temporary for men until they moved out of the classroom and became administrators. That was sort of the historical set-up.” Ingersoll extrapolated and then later confirmed that anywhere between 40 and 50 … Continue reading
Immigration and Population in US – Four key trends
Four key trends. Immigrants have moved beyond traditional gateways. Native-born population has declined in Middle America. Immigration has driven population growth in the Sun Belt, Pacific Northwest, and Mountain States. Immigration has slowed population declines in Middle America. Map 4 illustrates the changes in foreign- and native-born populations and highlights areas where the growth of … Continue reading
Jobless Claims in US – At seven-week low
Initial claims for U.S. unemployment-insurance benefits fell to the lowest tally in seven weeks, signaling a slower pace of layoffs, according to government data released Wednesday. The number of people who applied for U.S. unemployment-insurance benefits fell by 9,000 to 280,000 in the week that ended Dec. 20, , the U.S. Labor Department reported. That … Continue reading
Why U.S. Women Are Leaving Jobs Behind – NYTimes.com
As recently as 1990, the United States had one of the top employment rates in the world for women, but it has now fallen behind many European countries. After climbing for six decades, the percentage of women in the American work force peaked in 1999, at 74 percent for women between 25 and 54. It … Continue reading
Quality Job in US – Outlook back at pre-recession levels Gallup finds
The percentage of Americans saying now is a good time to find a quality job jumped to 36% in December, up six percentage points from November. This is by one point the highest percentage found since November 2007, prior to the start of the Great Recession. Chosen excerpts by Job Market Monitor. Read the whole story … Continue reading
US – The disconnect between productivity and wages, 1948–2013
Since 1979, hourly pay for the vast majority of American workers has diverged from economy-wide productivity, as shown in Figure D, and this divergence is at the root of numerous American economic challenges. Between 1979 and 2013, productivity grew 64.9 percent, while hourly compensation of production and nonsupervisory workers, who comprise over 80 percent of … Continue reading
Youth in US – Uncertainty about job outcomes is a barrier to enrollment in postsecondary education FED finds
In 2013, the Federal Reserve Board’s Division of Consumer and Community Affairs began exploring the experiences and expectations of young Americans entering the labor market. Staff reviewed existing research and engaged external research and policy experts to identify the potential economic implications of these labor market trends on young workers. This initial exploration raised several … Continue reading
Private Employer-Based Health Insurance in US – Paying more but getting less protective benefits
Looking at trends in private employer-based health insurance from 2003 to 2013, this issue brief finds that premiums for family coverage increased 73 percent over the past decade—faster than median family income. Employees’ contributions to their premiums climbed by 93 percent over that time frame. At the same time, deductibles more than doubled in both … Continue reading
Social Security in US – 71 percent of the 59 million current recipients are retired workers
Social Security is the federal government’s largest single program. Of the 59 million people who currently receive Social Security benefits, about 71 percent are retired workers or their spouses and children, and another 10 percent are survivors of deceased workers; all of those beneficiaries receive payments through Old-Age and Survivors Insurance (OASI). The other 19 … Continue reading
The Great recession and the Families in US – The most dramatic impact was on birth rates
The most dramatic impact was on birth rates, which dropped precipitously, especially for young women, as a result of the economic crisis. How do we know? First, the timing of the fertility decline is very suggestive. After increasing steadily from the beginning of 2002 until late 2007, birth rates dropped sharply. (The decline has since … Continue reading
The Skills Gap in Maine – A disconnect between educators and business people
A new report out today aims to deal with the so-called “skills gap” in Maine’s workforce. The report is part of a series called “Making Maine Work.” This one, according to Christopher Quinn, president of Kaplan University in Maine, uncovered a disconnect between educators and business people. Quinn told reporters that 72 percent of higher … Continue reading
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