Job Market Monitor
United States
US – Long-Term Unemployed in March 2007 and March 2014
The recent recession and slow recovery led to a high rate of long-term unemployment, which is defined as being out of work for more than 26 consecutive weeks. That rate peaked at 4.3 percent in the second quarter of calendar year 2010 and has fallen considerably since then. It was 2.4 percent in March 2014 … Continue reading
Higher Education in US – Clear information about costs and quality is needed study says
Che cost of acquiring the skills needed to be successful in the future economy is likely to fall sharply. That will be good for the economy. It will also open up opportunities for skill-based economic advancement for the many Americans who today cannot afford college without incurring crushing debt. For this transformation to achieve its … Continue reading
US – Labor markets became much less fluid in recent decades says Cato Institute
As measured by flows of jobs and workers across employers, U.S. labor markets became much less fluid in recent decades. We document a large, broad-based decline in these labor market flows, drawing on multiple data sources. An aging workforce and a secular shift away from younger and smaller employers can partly account for the long-term … Continue reading
US – Employees are taking less vacation time today than at any point in the last four decades
In fact, in 2013 employees with available Paid Time Off (PTO) took an average of 16 days of vacation, compared to an average of 20 days in 2000. This is data from a recent report by the U.S Travel Association, conducted by Oxford Economics, which analyzes the impact of forfeited time off. The report’s analysis … Continue reading
Veteran in US – The 100,000 Jobs Mission on track by the end of 2014 to beat its own goal
One alliance to boost veteran employment is on track by the end of 2014 to beat its own goal – by five years – of hiring at least 200,000 U.S. military veterans, according to a report released Monday commissioned by RAND and JPMorgan Chase. Known as the 100,000 Jobs Mission, the coalition consists of 179 … Continue reading
Mobility in US – More-educated people moving and less-educated staying
Between 2012 and 2013, more than 26.7 million people age 18 and over moved — 17.3 million of them to a different county. Those in their 20s and 30s with a college degree were most likely to move for job reasons and to move the farthest. In that period, people poured out of declining cities … Continue reading
US – The unemployment rate isn’t the only, or even necessarily the best, indicator
Every month, the Bureau of Labor Statistics releases a flood of data about employment and unemployment in the previous month. And every month, the lion’s share of the attention goes to one figure — the unemployment rate — as an indicator of where the U.S. economy stands. Today, for instance, the BLS said unemployment last … Continue reading
Wages in US – Where are the raises?
After all, according to the Dallas Fed, wages should accelerate once unemployment falls below 6.1 percent. Well, the problem, as economists David Blanchflower and Adam Posen point out, is that there’s still a lot of shadow unemployment right now. That includes people who aren’t just officially jobless, but those who are either too discouraged to look … Continue reading
US – The October Jobs Report in charts
The unemployment rate fell to 5.8%, its lowest level since 2008. The number of Americans in the labor force ticked up slightly from the previous month. And the employment-to-population ratio, a measure of the share of Americans who are working, rose slightly to a five-year high. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
US – Life in the unemployment capital: the case of Yuma
Yuma: A 28.2-percent unemployment rate is outlandishly high. Even in bankrupt and blighted Detroit, the rate was 7.9 percent in August. Among the metro areas whose numbers the Labor Department tracks, there is Yuma, there is El Centro (just 60 miles away in California), and then there is every other city in the nation. Chosen excerpts … Continue reading
The Highly Educated Cities in US – Higher wage growth for both low- and high-skill workers and substantially larger increases in housing costs
Over the past three decades, the earnings of workers with a college education have substantially increased relative to those with less education. In 1980, the average college graduate earned 38% more than the average high school graduate. By 2000, the college-high school graduate wage gap increased to 57%, and by 2011 it rose to 73%. At the same … Continue reading
US – Total nonfarm payroll employment rose by 214,000 in October, UR at 5.8 percent
Total nonfarm payroll employment rose by 214,000 in October, and the unemployment rate edged down to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, retail trade, and health care. Household Survey Data Both the unemployment rate (5.8 percent) and the number of unemployed persons (9.0 … Continue reading
US – The second stretch of economic expansion in a row that has come with little to no growth in real wages
The private sector has now added 10.3 million jobs for 55 straight months, the longest streak on record. Today’s report is all but certain to show tens of thousands more jobs added in October, pushing the streak still further. But wages over that period have barely outpaced the rate of inflation, making this the second … Continue reading
Jobless Claims in US – The four-week average at a 14-1/2 year low
The number of Americans filing new claims for unemployment benefits fell more than expected last week and compensation accelerated in the third quarter, in the latest signs of tightening labor market conditions. Thursday’s upbeat data underscored the resilience of the economy and some analysts said the pick-up in wage growth moved the Federal Reserve closer … Continue reading
Layoffs in US – Challenger reports employers announced 51,000 layoffs in October, up 68% from September
Announced layoffs swung higher last month, rising to about 51,000 in October, bouncing up from a 14-year low in September, according to data released Thursday by outplacement consultancy Challenger, Gray & Christmas. Led by retail job cuts, October’s announced layoffs were up 68% from 30,000 in September and 12% from 46,000 announced cuts in October … Continue reading
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