Job Market Monitor
United States
ADP US Employment Report for October 2014 – Private-sector employment increased by 230,000
Private-sector employment increased by 230,000 from September to October, on a seasonally adjusted basis. Highlights Small businesses (1-49 employees) +102,000 Medium businesses (50-499 employees) +122,000 Large businesses (500 or more employees) +5,000 via ADP National Employment Report – October 2014 | NER.
US – The overall employment ratio in major metro areas was lower in 2013 than in 2007
In 2007, about 79 million of 106 million adults aged 25 to 64 in the nation’s 100 largest metro areas were working, equating to an employment ratio of 74.8 percent (Figure 1). This ratio dipped in 2010 to 72 percent, as 1 million fewer adults were working that year, even though their overall numbers had … Continue reading
US – Hiring of college graduates is expected to jump 16 percent
Hiring of college graduates is expected to jump 16 percent in the US, though the starting salaries will see only a modest growth, says a study. About 60 percent of employers said they will keep starting pay the same as last year for the newly minted degree-holders, the survey of more than 5,700 companies revealed. The … Continue reading
US – Generation Jobless: a conference
“A barrier today is the rigid ideology of our public discourse,” Marc Morial, president and CEO of the National Urban League said. Morial, a former mayor of New Orleans and Louisiana State Senator, was one of many leaders to speak Friday at Generation Jobless, a conference devoted to exploring the crippling unemployment crisis affecting younger … Continue reading
US – Minimum Wages by State in 2014
The table below reflects state minimum wages in effect for 2014, as well as future increases. Summary Minimum wages will go up in nine states on Jan. 1, 2015 because of indexed increases in their state law: Arizona, Colorado, Florida, Missouri, Montana, New Jersey, Ohio, Oregon, and Washington. 38 states introduced minimum wage bills during the … Continue reading
US – Just 63 percent of 20-24 years old were employed as of September 2014
Opportunity matters. But for many young Americans, opportunity is hard to come by. Young Americans have faced bleak job prospects for years, but the recession hit millennials particularly hard. Just 63 percent of Americans age 20-24 were employed as of September 2014, according to calculations based on Bureau of Labor Statistics data. In September 2000, … Continue reading
Monetary Policy in US – The FED ends quantitative easing
With the U.S. economy showing signs of life, the Federal Reserve moved Wednesday to end billions of dollars in monthly bond purchases aimed at boosting growth. The central bank had initiated the policy, known as “quantitative easing,” in 2008 to keep interest rates low and boost economic activity following the financial crisis. Six years later, … Continue reading
STEM in US – The barriers to entry are also lower than most think.
With the expansion of advanced technologies and processes into more and more fields, the science, technology, engineering and math (STEM) economy is much bigger than many imagine and the barriers to entry are also lower than most think. Occupations like pipefitting and welding require only a high school diploma plus technical training to start. In … Continue reading
US – Almost all of the private sector jobs have been created by businesses less than five years ol
Amid the political maneuvering, there is, happily, some serious work being done by the Kauffman Foundation and the Institute for Competitiveness & Prosperity to figure out where new jobs actually do come from. The surprising truth is that over the last twenty five years, almost all of the private sector jobs have been created by … Continue reading
US – Labor Market Trends For 2015
Below are my top ten predictions for the workplace for 2015. 1. Companies hiring Generation Z for internships. 2. More millennials are taking leadership roles. 3. Honesty becomes a revered leadership trait. 4. The skills gap continues to widen. 5. The continuous job search picks up. 6. Mobile hiring and the mobile job search explode. … Continue reading
Wages in US – 50% make less than $28,031 a year
The Social Security Administration has just released wage statistics for 2013, and the numbers are startling. Last year, 50 percent of all American workers made less than $28,031, and 39 percent of all American workers made less than $20,000. If you worked a full-time job at $10 an hour all year long with two weeks … Continue reading
Monetary policy and inequality in the US – The links
Possible channels linking monetary policy and inequality Proponents of this view focus on two channels through which monetary policy affects inequality. Heterogeneity in income sources While most households rely predominantly on labour incomes, for others financial income, business income, or transfers may be more important. If expansionary policy raises profits by more than wages, wealth … Continue reading
US – For years, the fast food industry has created jobs at a faster rate than the rest of the economy
Since the recession ended, we’ve seen a troublingly uneven recovery, in which many of the middle-income jobs lost from 2008 to 2010 have been replaced by low-wage jobs. And fast food jobs are a large reason why, outpacing the country’s overall job growth. “Fast food is driving the bulk of the job growth at the … Continue reading
US – Female self-employment shows positive shift in opportunities finds BLS
New trends in female self-employment suggest a positive shift in opportunities for women, especially for those who differ from the “typical” self-employed women of the past. For instance, the percentage of female minorities in self-employment doubled from 1993 to 2012, and more divorced women and women without young children have become self-employed. Earnings trends have … Continue reading
The Knowledge-Intensive Services Industries US – 18 Million jobs and high wages
The commercial knowledge and technology-intensive (KTI) industries play a big role in the U.S. economy. The larger component of KTI industries—the knowledge-intensive (KI) services industries—employed 18 million workers and produced 22% of U.S. gross domestic product (GDP) in 2012. The smaller component—the high technology (HT) manufacturing industries—employed 2 million workers and produced 2% of GDP … Continue reading
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