Job Market Monitor
United States
Unemployment in the US – The rate varied across race and ethnicity groups BLS finds
In 2013, the overall unemployment rate for the United States was 7.4 percent; however, the rate varied across race and ethnicity groups. The rates were highest for Blacks (13.1 percent) and for American Indians and Alaska Natives (12.8 percent) and lowest for Asians (5.2 percent) and for Whites (6.5 percent). The jobless rate was 9.1 … Continue reading
US – The job market in one chart
When the Fed commenced rate hiking cycles in 1994, 1999 and 2004, the involuntary part time labor share was materially lower, while the prime age employment ratio was significantly higher. To wit: the prime age employment ratio stood at 78.9%, 81.4% and 79.1% as each of the last three tightening cycles got underway. In July the … Continue reading
US – Employers are no longer investing resources in training
Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading
US – Families in middle class make less than they did 5 years ago
The purchasing power of the typical American family is 3.1 percent lower now than it was five years ago. No wonder people are unhappy about the economy! The benefits of rising levels of economic activity have simply not accrued to middle-income wage earners. Chosen excerpts by Job Market Monitor. Read the whole story at Why the Middle … Continue reading
US – Satisfaction with many job aspects returns to high pre-recession levels
In the U.S., 58% of full- or part-time workers are completely satisfied with their job security. This represents an increase from the levels recorded during the aftermath of the Great Recession — from 2009 to 2013 — when roughly 50% of Americans said they were completely satisfied. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
Work Sharing in the US
Short-time compensation (STC) is a program within the federal-state unemployment insurance system. In states that have STC programs, workers whose hours are reduced under a formal work sharing plan may be compensated with STC, which is a regular unemployment benefit that has been pro-rated for the partial work reduction. Although the terms work sharing and … Continue reading
US – Misconceptions about long-term unemployment
Misconception: The problem isn’t really that bad At the time of writing, there were 3.2 million long-term unemployed in the U.S. accounting for 32.9 percent of the labor force. We mentioned earlier that this was historically high — even higher than peaks recorded following earlier economic crises — but the graph above should illustrate how … Continue reading
Participation in the US – The decline
Ageing and the workforce The largest single factor behind the decline is the ageing of the population. In order to understand how an ageing population affects overall labour force participation, it is helpful to look at the participation rates of different age groups. Figures 2 and 3 show the participation rate profiles for men and … Continue reading
Job Search in US – Find a Job Center
American Job Centers can help you look for work and offer classes like resume writing. Many states offer business services to help employers hire, retain and train workers. via America’s Service Locator: Find an American Job Center.
Growth in Europe vs US – It’s getting worse
Economic growth in Europe came in at zero in the second quarter of 2014. That’s better than being in recession. But it’s not the growth that Europe — with its huge unemployment rate of 12 percent, or roughly 19,130,000 people out of work — needs. The eurozone (below in blue) has been in a depression … Continue reading
US – Jobless claims rise, but remain near eight-year lows
New applications for unemployment benefits rose last week but remained near eight-year lows. Initial claims for unemployment benefits increased by 21,000 to a seasonally adjusted 311,000 in the week ended Aug. 9, the Labor Department said Thursday. That was more than the 295,000 new claims forecast by economists surveyed by The Wall Street Journal and … Continue reading
Unemployment in US State-by-State : 38 Years in one map
A new map—presented as a GIF—is putting unemployment rates in historical context. Courtesy of Metric Maps, the image shows how unemployment rates have changed state-by-state from 1976 to 2014. Chosen excerpts by Job Market Monitor. Read the whole story at 38 Years of Unemployment Data Displayed in One Map.
Jobs Openings in US in June 2014 – Increased to 4.7 million, highest since 2001
Jobs openings increased in June to 4.671 million from 4.577 million in May. This is the highest level since February 2001. Chosen excerpts by Job Market Monitor. Read the whole story at Calculated Risk: BLS: Jobs Openings increased to 4.7 million in June, Highest since 2001.
US – 71 percent are adequately prepared for retirement RAND finds
While many believe that Americans are in terrible shape when it comes to being financially prepared for their “golden years,” new evidence indicates that the news may not be as dire as previously thought. Moving away from previous studies that focused on income replacement rates, a recent report from the RAND Corporation looks instead at … Continue reading
US – Headcount additions remain highly targeted in the face of ongoing skills gaps and rising wage pressure says PwC
In the first quarter of this year, 63% of Trendsetter companies told us they’d add staff in the next quarter, the highest level we’ve seen in several years. So we weren’t particularly surprised when the US Bureau of Labor Statistics announced that June’s unemployment rate had dropped to 6.1%. In fact, average unemployment in 2Q14 … Continue reading
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