Job Market Monitor
United States
US / Christina Romer: Use fiscal policy, the other main tool
In a fascinating speech last week at Johns Hopkins (via Matthew Klein), former Obama economic advisor Christy Romer proposes a totally different framework for stimulus. Essentially we lean on fiscal stimulus more, but we set it up so that it’s permanently flexible … and thus more like monetary policy. So when the economy goes to … Continue reading
US / Native Unemployment Rate has been over 10 percent for five years
While the unemployment rate for white workers peaked at 9.1 percent in 2010 and is now down to 6.1 percent, Native Americans have experienced double digit unemployment rates ever since 2008, according to an analysis from the Economic Policy Institute. Their current rate hovers over 11 percent. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
US / Mid-sized firms add more than 1.25 million jobs in 2013 while large corporations cut more than 3 million jobs
Mid-sized firms are on track to add more than 1.25 million jobs in 2013, which would account for 7 out of every 10 new jobs created this year. In addition, the nearly 200,000 companies representing the U.S. middle market grew revenue at 5.5% over the past 12 months, more than double the rate of S&P … Continue reading
US / Private job gains lowest in six months reports ADP
Private-sector employment growth slowed in October, as firms adding the fewest jobs in six months and Washington’s partisan bickering over spending hit the labor market, payrolls processing firm Automatic Data Processing Inc. reported Wednesday. Private employers added 130,000 jobs this month — the fewest since April — down from 145,000 in September, according to ADP. … Continue reading
US Higher Ed / Hiring in English and foreign languages drop
After two years of slight growth, hiring for faculty positions and other full-time jobs in English and foreign languages was down year-over-year, according to a new report from the Modern Language Association Continue reading
Higher Education in US / It Pays, but a lot more for some graduates than for others
As they enter the labor market, some graduates earn far more than others. Prospective students need sound information about where their educational choices are likely to lead Continue reading
Chinese Students in US / One in four drop out of Ivy League schools
One in four Chinese students attending Ivy League universities in the US drop out, according to a study on recruitment of returned overseas graduates Continue reading
US Skills Gap / The Labor Market Polarization
the decline in the share of workers in middle-skill jobs is due both to a decline in inflows into these jobs and because of a rise in outflows from these jobs research finds Continue reading
US Labor Market / Has the Great Recession created new behaviour ?
The question is whether the Great Recession had created “behavioral changes” in the labor markets. Continue reading
Gender Gap / Women more likely to be victims of crime when unemployed, but not men research finds
High women unemployment means a higher likelihood of higher crime rates. But not men unemployment Continue reading
US / 2.9 job seekers for every job opening, first time in nearly five years the ratio fell below 3.0
In a labor market with strong job opportunities, the ratio would be close to 1-to-1, as it was in December 2000 (when it was 1.1-to-1) Continue reading
US / Jobless claims stay elevated
Initial claims for state unemployment benefits fell 12,000 to a seasonally adjusted 350,000, the Labor Department said. “Underlying labor market conditions probably are not as bad as the recent claims data suggest,” said Daniel Silver, an economist at JPMorgan in New York. Technical problems as California converted to a new computer system have distorted the … Continue reading
Millennials in US / The plight of unemployed young people
Currently, over 2 million of those 20-24-years-old are unemployed, with an unemployment rate of 12.9%. For the older half of millennials 25-34, the rate is 7.4% with 2.5 million unemployed Continue reading
US / Government shutdown costs 120,000 jobs in October says President’s chief economic adviser s
The partial government shutdown this month trimmed 0.25 percentage point from fourth-quarter economic growth and cost the U.S. 120,000 jobs in October, President Barack Obama’s chief economic adviser said. An analysis of daily and weekly economic data through Oct. 12 showed weakness in such areas as retail sales, economic confidence and mortgage applications, some of … Continue reading
US Social Security / The real retirement age is 70
ue to increases in Social Security’s Delayed Retirement Credit, the effective retirement age is now 70, with monthly benefits reduced for earlier claiming Continue reading
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