Job Market Monitor
United States
US – Unemployment threatens family stability studies find
Two new studies illustrate how long-term unemployment hurts not only workers, but their families, reports Eric Pianin at the Fiscal Times. A report from the John J. Heldrich Center for Workforce Development chronicles how the long-term unemployed (those out of work for more than six months) have struggled during the recovery. One in every three … Continue reading
US – Long-Term unemployment does not harden into structural unemployment finds the Economic Policy Institute (EPI)
This paper finds that regardless of duration, involuntary job loss leads to significant and long-lasting economic damage to individuals and their families. Specific findings on microeconomic scarring include: Excess unemployment during the Great Recession will likely lead to long-run wage losses just for displaced high-tenure workers (those who had the same job for more than … Continue reading
US – The decline in the share of middle-skill jobs has largely been driven by technological advancements and outsourcing of jobs overseas
The labor market is extremely complex and it’s constantly evolving. There are two big themes we’ve seen in recent decades: 1) companies have increasingly outsourced tasks overseas and 2) companies have increasingly automated functions. These themes have been devastating for those at the middle-skill level. Wells Fargo Securities’ Eugenio Aleman and Anika Khan recently published … Continue reading
US – We should focus on the problems of real people says a Fed economist (on leave)
The U.S. job market remains far from full health despite recent progress, and requires active efforts by policy makers to help it heal, a Federal Reserve economist said Wednesday.Andrew Levin, currently on leave from the central bank while working at the International Monetary Fund, played down the idea that much of the weakness in the … Continue reading
US – 62 percent of employers think minimum wage should be increased finds CareerBuilder
– 55 percent of employers think a fair minimum wage is at least $10 per hour or more; 1 in 10 don’t think a minimum wage should be set – 53 percent of employers say a higher wage would increase consumer spending – All major industries surveyed support a minimum wage hike, including retail and … Continue reading
Participation in US – Much, but not all, of the decline since 2007 is structural says FED research
Since 2007, the labor force participation rate has fallen from about 66 percent to about 63 percent. The sources of this decline have been widely debated among academics and policymakers, with some arguing that the participation rate is depressed due to weak labor demand while others argue that the decline was inevitable due to structural … Continue reading
US – Immigrant population (legal and illegal) hit a record 41.3 million according to the Census Bureau
The Census Bureau recently released some of the data from the 2013 American Community Survey (ACS). The data show that the nation’s immigrant population (legal and illegal) grew by 1.4 million from July 2010 to July 2013. The data also imply that 3.3 million new immigrants settled in the country in that same period. These … Continue reading
Skills Gap in US – 31 percent say employers aren’t willing to train new hires for the specific skills they need
In a new online survey of over 2,000 U.S. adults, conducted by Harris Poll on behalf of online business training software leader Mindflash, both employed and unemployed Americans believe that employers’ lack of willingness to train new employees is the leading reason why many Americans are unemployed and job opportunities are sitting unfilled for longer … Continue reading
Federal Minimum Wage in US – 62 months since the last increase and more facts
As the debate continues in Congress and in states, here are … numbers to help you understand what it means to be making the federal minimum wage, and why it’s long past time for an increase: 62 The number of months since the last minimum wage increase, in July 2009. 12 The number of months … Continue reading
US – Champion of low-paying jobs says OECD report
The U.S. has more low-paying jobs than any other country in the Organisation for Economic Co-operation and Development, an economic group of 34 developed countries, according to a research note released by Morgan Stanley on Monday. Economists Ellen Zentner and Paula Campbell based their analysis on the OECD Economic Outlook Report, which documents employment and … Continue reading
US – It is taking longer and longer to fill a job
With the size of the labor force shrinking, it’s no wonder that it is taking longer and longer to fill a job. Now Wanted Technologies, which analyzes online job postings from corporate sites, job boards, and elsewhere, found that for the most in-demand jobs, as determined by the number of ads posted online, job posting time … Continue reading
Dual labor markets in US – The decline in fluidity
Many people have assumed that most of the change has been happening within companies, as certain employees get disproportionately bigger paychecks. But a new study of U.S. incomes since the 1970s shows that most of the rise in inequality has been due to a greater spread in average earnings across companies. The researchers — Erling … Continue reading
The Job Market in US – Full and Part Time: A chart
The chart below measures the net change in the number of full time, part time and the total number of jobs from that point through the present. Here, we see a large increase in the number of jobs during the official period of recession as the number of full time jobs plummeted, which coincides with … Continue reading
US – 1.3 million homeless students enrolled in public schools (all levels)
A growing number of students don’t have homes to return to once classes are out. Approximately 1.3 million students enrolled in U.S. public preschools, elementary schools, middle schools and high schools schools were homeless during the 2012-13 school year. That’s up 8% from the prior year, and the highest number on record, according to the … Continue reading
US – More than 20% laid off the past five years are still unemployed study finds
More than 20% of Americans laid off the past five years are still unemployed and one in four who found work is in a temporary job, according to a survey out Monday. The report underscores that despite a sharp drop in long-term unemployment recently, many people out of work at least six months are still … Continue reading
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