Job Market Monitor
United States
US / Women are suffering from public-sector job cuts
Women are suffering from public-sector job cuts and shifting into lower-paying fields such as retail and leisure and hospitality, as their job gains fail to keep up with men in the recovery. The economy added 113,000 jobs last month, according to the Labor Department’s monthly survey of employers. That resulted from a net gain of … Continue reading
US / 10.4 million men, aged 25 to 54, don’t have jobs
“More than one in six men ages 25 to 54, prime working years, don’t have jobs—a total of 10.4 million.” That portion of the male population has almost tripled in the past 40 years. What is life like for these unemployed men? Let’s hear from a few of them. Gawker has pulled a few emails from our … Continue reading
US / Self-Employment is down 9% (936,000 jobs) since the beginning of the recession in 2006
It’s estimated that a whopping 10 million individuals, or 6.6% of all reported jobs, were self-employed in the U.S. as of 2013–however, that figure has declined significantly since the recession, according to a new report from CareerBuilder and Economic Modeling Specialists Intl. (EMSI). The number of self-employed workers is down 9% (936,000 jobs) since the … Continue reading
US Job Report / Employment rose by only 113,000 in January
From the official press release Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in construction, manufacturing, wholesale trade, and mining. Household Survey Data Both the number of unemployed persons, at 10.2 million, and the unemployment rate, … Continue reading
Intergenerational mobility in the US / A Map
Using these income data, we calculate two measures of intergenerational mobility. The first, relative mobility, measures the difference in the expected economic outcomes between children from high-income and low-income families. The second, absolute upward mobility, measures the expected economic outcomes of children born to a family earning an income of approximately $30,000 (the 25th percentile … Continue reading
US / Planned job cuts jump by 47%
Planned job cuts by U.S. employers in January soared 47% from the prior month, according to data from an outplacement firm, with the heaviest layoffs to occur in a battered retail sector after many reported weak holiday sales. The data echoes what market observers have seen for weeks, as Target Corp. ( TGT ), Macy’s … Continue reading
US / Jobless claims fall by 20,000
The number of Americans filing new claims for unemployment benefits fell more than expected last week, in a boost to the labor market outlook and the broader economy. Initial claims for state unemployment benefits declined 20,000 to a seasonally adjusted 331,000, the Labor Department said on Thursday. Claims for the prior week were revised to … Continue reading
US / Long- term unemployment spans all industries, education levels, age groups, and among blue- and white-collar workers
Today, we are still struggling with the terrible crisis of long-term unemployment left in the Great Recession’s wake, as data suggest many of the remaining unemployed individuals have been unemployed for very long periods. While older workers and disadvantaged populations may face particular challenges, long- term unemployment affects a diverse group of workers that, in … Continue reading
US / No job creation in January finds Gallup
Gallup’s Job Creation Index registered +19 in January, unchanged from the prior month. This score is a three-point improvement from January 2013 and is on par with the overall 2013 average of +20. Chosen excerpts by Job Market Monitor. Read the whole story at U.S. Job Creation Flat in January. Related Posts US / ADP National Employment … Continue reading
The Slow Recovery of the US Labor Market / A CBO Report
In assessing the slow recovery of the labor market, CBO estimates the following: Of the roughly 2 percentage-point net increase in the rate of unemployment between the end of 2007 and the end of 2013, about 1 percentage point was the result of cyclical weakness in the demand for goods and services, and about 1 … Continue reading
Skills Gap in US / A barrier to growth for 25 percent of the private companies
Overall, U.S. CEO confidence is improving in 2014, but one area where optimism continues to lag behind is in finding a qualified workforce. According to the latest PricewaterhouseCoopers Private Company Trendsetter Barometer, 57 percent of companies plan to hire in 2014, but over 25 percent of the private companies surveyed cited finding qualified workers as … Continue reading
US / ADP National Employment Report: 175,000 workers were hired by private-sector firms in January
ADP’s January National Employment Report is out. The payroll-processing firm estimates 175,000 workers were hired by private-sector firms in January. Market economists were looking for a 185,000 estimate. The December estimate from ADP’s previous report was revised down to 227,000 from 238,000. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report … Continue reading
Law School in US / Tenured Faculty Layoffs
As more and more people discover that law school is not the “get rich quick” scheme that they once thought it was, applications continue to plummet. As of late January, law school applications were down 13.7 percent from where they were in 2013. The loss of student revenue is killing the bottom line at some … Continue reading
Manufacturing Jobs in US / The debate
In 1953 manufacturing accounted for 28 percent of U.S. gross domestic product, according to the U.S. Bureau of Economic Analysis. By 1980 that had dropped to 20 percent, and it reached 12 percent in 2012. Over that time, U.S. GDP increased from $2.6 trillion to $15.5 trillion, which means that absolute manufacturing output more than tripled in 60 years. Those … Continue reading
Biden and the Skills Gap in US / 47 overlapping programs in 2009 says GOP
More than 10 million Americans are jobless, but about 4 million jobs were unfilled at the end of November, according to the Bureau of Labor Statistics. Many economists and industry experts attribute the disparity to a gap between workers\’ skills and the skills employers need. “There are plenty of jobs out there, and there’s a … Continue reading
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