Job Market Monitor
United States
The Job Gap in US – How many more jobs are needed ?
One of the big questions concerning the U.S. jobs market is how many jobs need to be created to reach full employment? Without knowing that, it’s hard to determine when the nation’s economy will have finally recovered. Figuring out that number is complicated by several uncertainties, including just how many people need jobs and how … Continue reading
Long-term unemployment in US since 1950 – A chart
This FRED graph divides unemployed (civilian) workers according to the duration of their unemployment spell. The number of those unemployed for 27 weeks or more is still very high, while the other categories have recovered to normal levels. This level of persistently elevated unemployment is different from that during previous recessions, and there may even … Continue reading
Skills Gap in US – We need to kill this zombie writes Krugman
The point is that influential people move in circles in which repeating the skills-gap story — or, better yet, writing about skill gaps in media outlets like Politico — is a badge of seriousness, an assertion of tribal identity. And the zombie shambles on. Unfortunately, the skills myth — like the myth of a looming … Continue reading
Higher Education in US – The employment status of instructional staff members in 2 charts
Chosen excerpts by Job Market Monitor. Read the whole story at Losing Focus: The Annual Report on the Economic Status of the Profession, 2013-14 | AAUP Related Posts US / Education / Investment in student falls for first time ever The combination of high education and high-skill occupation is associated with the greatest degree of skill maintenance … Continue reading
Unemployment Extension in US – It passes Senate
The Senate approved a bipartisan unemployment benefits extension Monday, with six Republicans joining Senate Democrats to clear the measure. The measure passed 59 to 38 with all Democrats in attendance voting for the bill. The five Republicans who helped negotiate the measure — Susan Collins of Maine, Dean Heller of Nevada, Mark S. Kirk of … Continue reading
US – Next year’s supply of 85,000 visas for highly skilled workers gone within days
Businesses seeking highly skilled workers from overseas took less than a week to snap up all 85,000 visas available for next year. The U.S. Citizenship and Immigration Services announced Monday that the cap on H-1B visas for the 2015 fiscal year had already been reached. The agency began accepting applications April 1 for the highly … Continue reading
Long-term unemployment – Why does it matters
Evidence is mounting that the long-term unemployed aren’t merely the short-term unemployed with the addition of a little waiting time. They are in a very different situation – and an alarming one at that. Researchers in the US are setting the pace on this topic, because it is in America that a sharp and unique … Continue reading
US – Labor Force Participation Rate Update
A significant decline in the participation rate had been expected, and probably half or more of the recent decline in the participation rate was due to changing demographics (and long term trends), as opposed to economic weakness. A few key long terms trends include: • A decline in participation for those in the 16 to … Continue reading
March Job Report in US – Good news, total nonfarm payroll employment rose by 192,000 and UR unchanged at 6.7 percent
Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health care, and in mining and logging. Household Survey Data In March, the number of unemployed persons was essentially unchanged at … Continue reading
Jobless Claims in US – Increased 16,000 to a seasonally adjusted 326,000
While a third report showed an increase in the number of Americans filing new claims for unemployment benefits last week, the underlying trend in the data continued to point to some strength in the labor market. Initial claims for state unemployment benefits increased 16,000 to a seasonally adjusted 326,000, the Labor Department said. The four-week … Continue reading
US – Using Twitter to forecast jobless claims
A surprising number of people filed initial claims for unemployment benefits last week, at least if you believe an index based off Twitter. Economists at the University of Michigan have developed a technique that scans billions of tweets, looks for people tweeting about losing their jobs and then creates a prediction for the Labor Department’s … Continue reading
March Job Creation in US – Gallup’s Index reaches six-year high
Gallup’s Job Creation Index, based on employee reports of hiring and layoff activity at their workplaces, reached a six-year high of +23 in March, nearly tying the +24 recorded in March 2008. The index for March is two points higher than it was in February, and shows a six-point improvement from last March. Chosen excerpts … Continue reading
ADP on US National Employment Report – Private sector employment increased by 191,000 jobs from February to March
Private sector employment increased by 191,000 jobs from February to March according to the March ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, … Continue reading
US – Public sector workers are older than private sector workers and more
Among workers ages 18 to 64 who work full-time, differences in characteristics that may affect the relative pay and benefits of private and public sector workers include the following: Age. Reflecting the aging of the U.S. labor force, workers in both the private and public sectors have become older. Nevertheless, employees in the public sector … Continue reading
US – 260,000 graduates in minimum wage jobs
About 260,000 people who had a college or professional degree made at or below the federal minimum wage of $7.25 per hour last year, according to the Bureau of Labor Statistics. Things may be looking up a little, though — it’s the smallest number since 2008. The worst year was 2010, when the number skyrocketed … Continue reading
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