Job Market Monitor
United States
US – Unemployment dynamics and the duration of unemployment
Suppose you divided workers into two groups, which we designate as type H and type L, and conjectured that the number of newly unemployed workers each month represents a mixture of the two types and further that there are differences in the probabilities that each of the two types will be successful in finding jobs. … Continue reading
Skills Gap in US – It could compromise competitiveness manufacturers say
American manufacturers are increasingly finding that prospective workers do not have the skill set required to perform necessary job functions, such as basic math and computer abilities. The so-called “skills gap,” if unresolved, could compromise manufacturers’ ability to stay competitive, according to some industry leaders. The cause of the gap is multifaceted. Manufacturing activity has increased in the U.S. … Continue reading
Chinese jobs website Zhaopin seeking investment in US
Chinese jobs website operator Zhaopin Ltd filed with U.S. regulators to raise up to $100 million in an initial public offering of American depositary shares. SEEK International Investments Pty Ltd, controlled by SEEK Ltd, which provides online employment advertising, training courses and invests in online employment marketplaces, holds 79 percent of Zhaopin shares. Beijing-based Zhaopin … Continue reading
US – A Middle Class Job No Longer Supports a Middle Class Life
Eighty-five percent of the middle class say their standard of living is harder to maintain than it was a decade ago. This is due, in large part, to the fact that a middle class job often no longer supports a middle class life. Namely, their incomes have not kept pace with the costs of the … Continue reading
US Monetary Policy – Too soon for talk of rate hikes says Dallas Fed President
t’s too soon for the Federal Reserve to begin thinking about raising interest rates despite a strengthening U.S. economy, Dallas Fed President Richard Fisher said on Sunday. Mr. Fisher, a self-described inflation hawk who opposed the central bank’s latest round of bond purchases, said the weakness in first quarter U.S. economic growth, which nearly stalled … Continue reading
April’s Jobs Report in US – Cautionary signs: 73,000 fewer people had jobs
Hiring in February and March was better than first thought. The unemployment rate plunged to 6.3 percent from 6.7 percent. At first glance, Friday’s U.S. jobs report suggested that the agonizingly slow 5-year-old economic recovery had burst into a full sprint. Yet several cautionary signs emerged from the report, starting with that spectacular plunge in … Continue reading
The unemployment data during the 2012 Presidential election – “No evidence” concludes the investigation
Census Bureau employees did not rig national unemployment data to make President Obama look good in advance of the 2012 presidential election, an inspector general’s report concluded. The report follows allegations by a Census employee, Julius Buckmon, that he and others in the Philadelphia office were instructed to falsify data on two important reports. On … Continue reading
Millennials and Retirement – Saving more and at a much earlier age
Millennials are not only saving for retirement at an earlier age than their parent’s generation, but they are also saving more aggressively. This generation (born after 1978) started saving at a median age of 22, more than a decade earlier than their Baby Boomer parents and five years before Gen Xers, a survey from the … Continue reading
Basic Facts About the American Economy and Canada
1) The largest destination for U.S. goods exports is Canada. The second largest is Mexico. China is third. Census 2) We import the most stuff from China. Maybe you did know that. But Canada is second. Census 3) Canada is our largest overall trading partner. We’re just really lucky to have them (and of course … Continue reading
US in April – Total nonfarm payroll employment rose by 288,000 and UR down at 6.3 percent
Total nonfarm payroll employment rose by 288,000, and the unemployment rate fell by 0.4 percentage point to 6.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Employment gains were widespread, led by job growth in professional and business services, retail trade, food services and drinking places, and construction. Household Survey Data In … Continue reading
US – The state of the labor market in figures
In advance of the monthly employment report from BLS, the Center for American Progress today released an analysis of the current state of the U.S. labor market. The analysis takes an in-depth look at data beyond the unemployment rate, and finds that the rest of the statistics we have on the labor market paint a … Continue reading
US – About 14.7 million people, or 4.7 percent of the population, were near-poor in 2012
This report provides data on the demographic characteristics of people close to, but not below, official poverty thresholds from 1966 to 2012. The “near-poor” are people with family income between 100 and 125 percent of the poverty thresholds, allowing for a full examination of the low-income population. The statistics come from the Current Population Survey’s … Continue reading
The Middle Class – Canada vs US
Canadians have little doubt that they face less financial stress about medical costs than Americans. Many also credit their labor unions for the size of their paychecks; union membership rates are higher in Canada. Canadians also know that the American housing bubble and bust were more severe than their version. via Life in Canada, Home … Continue reading
Long-term unemployment in US – Geography could be one reason
New research that examined joblessness in the early 2000s provides evidence that some of the problem might also be geography. A paper written by government and academic experts suggests that living near where the jobs are significantly reduces the amount of time it takes unemployed jobseekers to find work. The research found that to be especially true … Continue reading
Retirement in US – Boomers working to stay employed
“With so many Baby Boomers planning to work longer and retire later, they are taking steps to stay marketable,” says Catherine Collinson, president of the non-profit Transamerica Center for Retirement Studies, which commissioned the national survey of 4,143 full-time and part-time workers conducted this winter by Harris Poll. Although many Baby Boomers want to shift … Continue reading
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