Job Market Monitor
United States
Grads in US – Recent college graduates are more likely to be out of work than the population as a whole
Millions of Americans are seeing little return from their expensive college degrees — even in today’s hot job market. For the first time in decades, recent college graduates are more likely to be out of work than the population as a whole, according to the New York Federal Reserve. And for the lower-earning half of … Continue reading
Immigrants and Wage Distribution in US – A one percentage point increase in the share of foreign-born leads to a 0.2–0.3 percent wage decrease in the bottom decile research finds
Since the early 1980s, the stock of immigrants to the US has been rapidly increasing and potentially disrupting labor markets across the country. Over the same period, the US wage distribution has experienced significant and uneven changes. Traditional economic models predict that foreign-born can affect relative wages so long, they alter the relative supplies of … Continue reading
US – Automatic Stabilizers in the Federal Budget, 2020 to 2030
Federal revenues and outlays regularly respond to cyclical movements in the economy in ways that tend to dampen those movements; the budget mechanisms that drive that process are known as automatic stabilizers. Those mecha- nisms help stabilize the economy automatically, without any legislated changes in tax or spending policies. In this report, the Congressional budget … Continue reading
Two Recessions and Recoveries in US – The trajectories side-by-side
The Great Recession of 2007-2009 was one of the deepest downturns of the U.S. economy since World War II. Triggered by crises in the housing and financial markets, the recession evokes memories of homes in foreclosure, the collapse of Lehman Brothers, and bailouts for businesses in the auto, banking and financial sectors. The subsequent expansion began … Continue reading
Job Report in US (November 2019) – Employment rose by 266,000, much better than expected
Total nonfarm payroll employment rose by 266,000 in November, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services. Employment rose in manufacturing, reflecting the return of workers from a strike. Household Survey Data … Continue reading
The Skills Gap in US – A look at the skill gap skeptics arguments
There can be no question that American employers have a record number of unfilled jobs. For the past year, the number has hovered around 7 million. As of early January 2019, the number reported by the U.S. Department of Labor Bureau. Faced with real numbers, skill gap skeptics make several arguments besides denying the validity … Continue reading
Training in US – The 2019 Training Industry Report
TRAINING EXPENDITURES Total 2019 U.S. training expenditures—including payroll and spending on external products and services—declined 5.3 percent to $83 billion. Spending on outside products and services dipped from $11 billion to $7.5 billion, while other training expenditures (i.e., travel, facilities, equipment) decreased to $23.8 billion from $29.6 billion. Meanwhile, training payroll increased 10 percent to … Continue reading
The Training System in US – Complicated, hard to navigate, and under-funded
The American job training, or human capital development, system is complicated, hard to navigate, and under-funded. Yet at the same time it has significant strengths and many best practice and effective models. The United States does not have a training system for adults if what is meant by the term “system” is a well-articulated set … Continue reading
Increasing the Federal Minimum Wage – An interactive tool that allows users to explore the effects of policies by CBO
The federal minimum wage of $7.25 per hour has not changed since 2009. Increasing it would raise the earnings and family income of most low-wage workers, lifting some families out of poverty—but it would cause other low-wage workers to become jobless, and their family income would fall. This interactive tool allows users to explore the … Continue reading
Low-Wage Workers in US – More than 53 million people, 44% of all workers aged 18-64 says Brookings study
Jobs play a central role in the lives of most adults. As forces like globalization and automation reshape the labor market, it is clear that some people and places are positioned to do well while others risk becoming collateral damage. The well-educated and technically savvy find ample employment opportunities, while those with lower levels of … Continue reading
Unemployment in US – Let’s talk stats, facts, causes and more
Guess post by Max Chekalov, whattobecome.com – The unemployment rates of the world population are fairly low, especially if we consider the leading countries. However, even these economies constantly take vast measures in terms of preventing this uncalled-for phenomenon that troubles millions of people worldwide. The number of people on our planet is changing by billions at … Continue reading
US – Few rigorous evaluations exist to measure the success of government-funded training programs the Council of Economic Advisers says
For the first time since the Government began tracking job openings nearly 20 years ago, there are more job openings in the United States than unemployed people looking for work. In fact, there are over 1.6 million more job openings than unemployed people. Because of the Trump Administration’s pro-growth policies, the American worker is in … Continue reading
Wages in US – What is really happening ?
Over the past 12 months, average hourly wages rose 3.2 percent, according to the latest jobs report from the Bureau of Labor Statistics. But the longer-term story is contested. Many analysts and commentators lament the situation of stagnating wages, while others celebrate wage growth. To take just two of hundreds of examples, our colleagues in … Continue reading
Median Household Income in US in 2018 – $63,179, Not significantly different from 2017
The U.S. median household income was $63,179 in 2018, not statistically different than the previous year, according to U.S. Census Bureau statistics released today. At first glance, it would appear that median income was higher than every year prior to 2017, surpassing the median income for 2007 ($60,985 in 2018 dollars) and 1999 ($61,526 in … Continue reading
The Transition to Post-Military Employment in US – A majority of veterans say their military service was useful in giving them the skills and training
For many veterans, finding a job after leaving the military is an important part of the transition to civilian life. A majority of veterans say their military service was useful in giving them the skills and training they needed for a job outside the military – 29% say it was very useful and another 29% … Continue reading
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