Job Market Monitor
United States
The Skills gap in US – The available evidence does not support the idea that there are serious skill gaps or skill shortages writes Wharton School’s prof
Overall, the available evidence does not support the idea that there are serious skill gaps or skill shortages in the US labour force. The prevailing situation in the US labour market, as in most developed economies, continues to be skill mismatches where the average worker and job candidate has more education than their current job … Continue reading
High on Marijuana at Work in US – Nearly 10 percent go to work high, study finds
A new report has found nearly 1 in 10 Americans are showing up to work high on marijuana. Mashable.com conducted the survey in partnership with SurveyMonkey, and found 9.7 percent of Americans fessed up to smoking cannabis before showing up to the office. The data analyzed the marijuana and prescription drug habits of 534 Americans. What’s more, nearly … Continue reading
Certificates in US – Positive, significant returns research finds
The research from the center focused on certificates for programs that took one year or less to complete. Some have suggested that short-term certificates hold little value in the job market, although recent research has contradicted that notion. The forthcoming study by Di Xu and Madeline Trimble, both of whom are researchers at the Community … Continue reading
Unemployment Benefits in US – The total value is half what it was in 2003 writes Krugman
Only 26 percent of jobless Americans are receiving any kind of unemployment benefit, the lowest level in many decades. The total value of unemployment benefits is less than 0.25 percent of G.D.P., half what it was in 2003, when the unemployment rate was roughly the same as it is now. It’s not hyperbole to say … Continue reading
US – Job Openings Outpace Hires writes Dallas Fed
In addition to employment and unemployment figures, data on the efficiency of the labor market offer more clues to its health. One way to determine this is to examine the degree of labor mismatch occurring. The classic illustration demonstrating mismatch is the Beveridge curve, which shows an intuitive relationship between the rate of job vacancies … Continue reading
US – Unemployment Claims decrease to 280,000
In the week ending September 13, the advance figure for seasonally adjusted initial claims was 280,000, a decrease of 36,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 315,000 to 316,000. The 4-week moving average was 299,500, a decrease of 4,750 from the previous week’s revised average. … Continue reading
Wealth in US – Gains occurred only among households wealthier than the most wealthy 5%
Earlier this month the Federal Reserve reported that the minimum wealth needed to qualify for the wealthiest 5% of American households fell from 2010 to 2013. The decline in the cutoff indicates that wealth gains occurred only among households wealthier than the most wealthy 5%. The growth in the nation’s wealth from $55 trillion in … Continue reading
Wage Theft by Employers in US – At least $933 million in 2012 vs robberies ( including bank ) $341 million
Wage theft—employers’ failure to pay workers money they are legally entitled to—affects far more people than more well-known and feared forms of theft such as bank robberies, convenience store robberies, street and highway robberies, and gas station robberies. Employers steal billions of dollars from their employees each year by working them off the clock, by failing … Continue reading
Minimum Wages for Tipped Workers – Smaller wage gaps for women overall and lower poverty rates when equal
The federal minimum cash wage for tipped workers has been frozen at $2.13 per hour for 23 years, and now represents less than a third of the federal minimum wage ($7.25 per hour)—its lowest share on record. The inadequate tipped minimum wage is particularly detrimental to women, who represent two-thirds of tipped workers nationally. Increasing … Continue reading
The aftermath of the Great Recession in US – Historically terrible for the middle class
The Census Bureau has been tracking median household income since 1967. America has endured seven recessions since then. The first five of those recessions saw a similar pattern when they ended: By the fifth year of recovery, median incomes had risen. This was true even for the recession that ended in 1980 – when the … Continue reading
The Skills Gap in US – The ‘not me’ syndrome: the Report
Sixty-one percent of Americans believe that today’s workforce is plagued by a skills gap, but do not see themselves as part of the problem, according to new data released today. The Udemy Skills Gap Index, an independent survey commissioned by Udemy, the leading global marketplace for learning and teaching online, and conducted by ResearchNow, surveyed 1,000 … Continue reading
Monetary Policy in US, September 17, 2014 – There is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions
The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make … Continue reading
Older Workers Who Lost Their Jobs During The Great Recession In US – Stronger welfare policies would have helped their mental health research finds
The old cliché states, “Money doesn’t make you happy”, but is this really true? In new research, Carlos Riumallo-Herl finds that wealth had an insulating effect against depression for older workers who lost their jobs during the Great Recession in the U.S. He finds that in comparison to workers in the U.S., those in Europe … Continue reading
Skills Gap in US – Sixty-one percent say ‘Yes, it exists’ but ‘not me’!
Sixty-one percent of Americans believe that today’s workforce is plagued by a skills gap, but do not see themselves as part of the problem, according to new data released today. The Udemy Skills Gap Index, an independent survey commissioned by Udemy, the leading global marketplace for learning and teaching online, and conducted by ResearchNow, surveyed … Continue reading
Young US Scientists – Too few university jobs
In the United States, more than 40,000 temporary employees known as postdoctoral research fellows are doing science at a bargain price. And most postdocs are being trained for jobs that don’t actually exist. Academic institutions graduate an overabundance of biomedical Ph.D.s — and this imbalance is only getting worse, as research funding from the National … Continue reading
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