Job Market Monitor
United States
US – Jobless claims down to three-month low
The number of Americans filing new claims for unemployment benefits fell more than expected and hit a three-month low last week, a sign of strength in a labor market that has been hobbled by severe weather. Initial claims for state unemployment benefits dropped 26,000 to a seasonally adjusted 323,000, the Labor Department said on Thursday. … Continue reading
ADP and Gallup on US Jobs – Positive but weak job growth
Private-sector employers added 139,000 jobs last month, up from a revised 127,000 in January, but down from 205,000 in February 2013, according to ADP. Economists had forecast that private-sector hiring somewhat slowed down last month, with employers adding 160,000 jobs, compared with an originally estimated January increase of 175,000, according to a Dow Jones Newswires … Continue reading
US – The 10 states where income inequality has soared
These are the 10 states where income inequality has soared. 10. New York > Share of growth captured by the 1%: 67.6% > Real income growth 1979-2007: 60.5% (4th highest) > Income growth, bottom 99%: 22.2% (22nd highest) > Income growth, top 1%: 355.1% (3rd highest) 9. Florida > Share of growth captured by the … Continue reading
US – The White House economic case for raising the minimum wage
The minimum wage helps support family incomes, reducing inequality and poverty, but as a slide deck from the Council of Economic Advisers shows, as the real value of the minimum wage has been allowed to erode, it has stopped serving this important purpose. via The Economic Case for Raising the Minimum Wage. Related articles Minimum Wage … Continue reading
US Job Market / A slow recovery reflecting slow growth in demand says CBO
The deep recession that began in December 2007, when the economy began to contract, and ended in June 2009, when the economy began to expand again, has had a lasting effect on the labor market. More than four and a half years after the end of the recession, employment has risen sluggishly—much more slowly than … Continue reading
Jobs Returning To US / Several factors have changed
Over the last decade, several factors have changed such that onshoring of jobs by U.S. companies and offshoring by foreign companies will continue to increase significantly over the coming decade: The rising cost of labor in China. The rising strength of China’s currency. Wage rates in the United States. Fuel and Production Costs. Changing Perceptions. … Continue reading
Jobless Claims in US / 14,000 to 348,000 in the week ended Feb. 22, one-month high
More Americans than forecast filed applications for unemployment benefits last week, a sign the labor market is improving in fits and starts. Jobless claims increased by 14,000 to 348,000 in the week ended Feb. 22, exceeding all forecasts in a Bloomberg survey and the highest level in a month, from 334,000 in the prior period, … Continue reading
Best Buy in US / To cut 2,000 managers
Best Buy Co. Inc. apparently told about 2,000 managers around the United States on Wednesday that they were being laid off, a move that would be the company’s biggest job reduction since July 2012 as it continues to cut costs following a weaker-than-expected holiday season. The layoffs will affect about 1.4 percent of Best Buy’s … Continue reading
Sony in US / Closing 20 stores and cutting 1,000 jobs
Sony warned earlier this month about significant and serious reorganization changes coming this year, and now they’re becoming a reality for many employees in the United States. The consumer tech giant announced on Wednesday morning that it will be shuttering 20 stores. This in turn will result in approximately 1,000 layoffs at these locations nationwide. … Continue reading
US / Manufacturing in International Perspective
This report is designed to inform the debate over the health of U.S. manufacturing through a series of charts and tables that depict the position of the United States relative to other countries according to various metrics. Understanding which trends in manufacturing reflect factors that may be unique to the United States and which are … Continue reading
Brain Waste among US immigrants / Above 75 percent for those with a master’s degree
Many highly educated immigrants coming to the U.S. without a job lined up have been unable to find work at their level of education, leading to considerable “brain waste,” Purdue University researchers have found. Agricultural economics professors Brigitte Waldorf and Raymond Florax were on a team of researchers who analyzed data from the U.S. Census … Continue reading
Minimum Wage Estimated Impacts in US / CBO Director defends position
A number of economists from the White House and beyond have criticized a CBO report on the effects of potentially boosting the minimum wage to $10.10 an hour. But CBO Director Douglas Elmendorf isn’t backing off. Congressional Budget Office Director Douglas Elmendorf defended a controversial report on the minimum wage Wednesday, amplifying a debate that … Continue reading
Minimum Wage Increase in US / The CBO’s estimates of the effects on employment and family income
Increasing the minimum wage would have two principal effects on low-wage workers. Most of them would receive higher pay that would increase their family’s income, and some of those families would see their income rise above the federal poverty threshold. But some jobs for low-wage workers would probably be eliminated, the income of most workers … Continue reading
Unemployment in the US / The top problem for people finds Gallup
Americans have a new No. 1 problem. Nearly one in four Americans mention jobs and unemployment as the most important problem facing the country, up from 16% in January. The government and politicians had topped the list since the government shutdown in October. Chosen excerpts by Job Market Monitor. Read the whole story at Unemployment Rises to … Continue reading
Workforce Training Investments in US / A comparaison
We spend $3. billion in federal funds to prepare people for million jobs (4%) that require middle- skill training. That’s enough to train 451,000 people, a small fraction of the 16 million who could benefit from investments in access to training. We spend $ billion in federal funds to prepare people for 5million jobs (3%) … Continue reading
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