Job Market Monitor
United States
US- 5 years after the Great Recession
The economy reached another milestone last month: All 8.7 million jobs lost in 2008 and 2009 have now been regained. But while the nations payrolls are back to their previous high, they havent kept pace with growth in the working-age population over the last few years. Moreover, many of the jobs lost have been replaced … Continue reading
Unemployed vs Employed in US – How much time they spend doing everything
That deep divide between those with jobs and those without them reveals itself not just in well-known statistics on hiring and income but in the day-to-day details of how people live their lives. The unemployed have higher rates of depression, obesity and suicide. In interviews, they frequently report that the social and emotional impacts of … Continue reading
US – Fewer than half of U.S. workers are satisfied with their jobs
Fewer than half of U.S. workers are satisfied with their jobs, based on a set of survey questions about Americans’ opinions about their workplaces, compensation, job security, co-workers, bosses, chances for promotion, etc. The share is much lower than it was in 1987, when the series began. Interestingly, dissatisfaction among the youngest workers seems to be driving the … Continue reading
Foreign-Owned Establishments in US Metro Areas – They employ some 5.6 million
Foreign-owned U.S. affiliates directly employ some 5.6 million workers spread across every sector of the economy. The number and share of U.S. workers employed in FOEs increased steadily through the 1990s before peaking in 2000 and then stagnating. The nation’s largest metro areas contain nearly three-quarters of all jobs in FOEs. Fully 74 percent of … Continue reading
Long-Term Unemployment in US – The case of women and families
Long-term unemployment is a continuing crisis for both men and women, and their families. However, women’s typically lower earnings when they are employed and their far greater likelihood of being single parents makes them and their children more economically vulnerable when both income from work and modest unemployment insurance benefits are lost. For that reason, … Continue reading
ADP Job Report in US – Business Report and National Franchise Report will be issued together at 8:15 a.m. ET
ADP, a leading global provider of Human Capital Management solutions, will now issue the new ADP Small Business Report and the ADP National Franchise Report as separate monthly reports on the same day it issues the ADP National Employment Report. All three reports will be issued at 8:15 a.m. ET. This change will take effect … Continue reading
Jobless Claims in US – 312,000, a decrease of 6,000
SEASONALLY ADJUSTED DATA In the week ending June 14, the advance figure for seasonally adjusted initial claims was 312,000, a decrease of 6,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 317,000 to 318,000. The 4-week moving average was 311,750, a decrease of 3,750 from the previous … Continue reading
Millennials in US – They struggle to find good jobs
According to a new survey by Business Insider and News To Live By, a Gen Y career advice destination, millennials continue to struggle to secure good-paying full-time jobs in line with their education levels. The survey of 548 millennials in the U.S., conducted by Survey Monkey in May, finds that 16% of millennials remained unemployed … Continue reading
US – Hours worked for the three underperforming sectors—manufacturing, construction, and information—remain well below their pre-Great Recession levels
The three charts show hours worked for the largest sectors in the economy, grouped by performance relative to pre-Great Recession levels. These data provide insight into current sources of slack in the labor market. The Great Recession took a severe toll on total hours worked across all of these sectors. Excluding the education and health services … Continue reading
US – The 2009 Recovery Act directly created and saved jobs primarily in government finds St. Louis Fed
Over one-half of the fiscal spending component of the American Recovery and Reinvestment Act ARRA; i.e., the Recovery Act was allocated via grants, loans, and contracts. Businesses, nonprofits, and nonfederal government agencies that received this type of stimulus funding were required to report the number of jobs directly created and saved as a result of … Continue reading
IMF on Minimum Wage in US – Should be increased
The International Monetary Fund on Monday cut its forecast for U.S. economic growth this year, warned of sluggish growth for years to come, and made a bunch of suggestions for getting Americas economic house in order — including raising the abysmally low federal minimum wage of $7.25 an hour.” [G]iven its current low level compared … Continue reading
Millennials – The best-educated generation in US history but overall they don’t earn more
A demographic cohort is never monolithic, but the group that recently entered the labor force had one trait in common: they watched as the Great Recession dramatically reshaped the landscape of employment, housing, and, in general, their expectations. How profoundly will the economic downturn and its associated effects mark this generation? On top of the … Continue reading
The Beveridge Curve in US – A worsening
Real Time Economics has been tracking the progression of the Beveridge Curve, named after the economist William Henry Beveridge, that tracks the relationship between the job openings rate and the unemployment rate. With so many jobs available, more people ought to be finding their way to work. An openings rate above 3% has historically meant … Continue reading
Job Openings in US – Return to prerecession levels
The number of job openings in the U.S. economy climbed to the highest level in seven years, becoming the latest labor-market gauge to recover ground lost during the recession.Job openings rose to 4.5 million in April, according to the Labor Departments job-openings and labor-turnover survey. The rate of job openings rose to 3.1% in April … Continue reading
Immigration into the United States – An Overview
RECENT IMMIGRATION PATTERNS During the 1990s, more immigrants arrived in the United States than in any previous decade: between 1990 and 2000, the number of foreign-born U.S. residents rose by thirteen million to total thirty-two million. According to the best estimates of demographers, about nine million of these newcomers were legal immigrants. If two million … Continue reading
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