Job Market Monitor
United States
US / Long-Term Unemployment Persists
Long-term unemployment remains a very dark shadow in the May jobs report: 4.4 million workers have been out of a job for more than six months. In essence, the job market has normalized for the short-term unemployed. But the longer you have been out of a job, the bleaker the picture gets. The number of … Continue reading
US / Lowering Expectations about Employment Gains for the coming years
“The buoyant monthly employment gains that accompanied prior recoveries are not likely to be repeated. Indeed, even if GDP growth were to surprise on the high side (3.1 percent for 2013 as illustrated in the cyclical LFPR scenario), employment growth generated by our model would still be just 147,000 per month in the current year, … Continue reading
US / Employment growth above about 80,000 jobs per month would put downward pressure on the unemployment rate finds research
Daniel Aaronson and Scott Brave « estimate that, currently, employment growth above about 80,000 jobs per month would put downward pressure on the unemployment rate » in Estimating the trend in employment growth on Chicago Fed Letter. (Adapted Chosen excerpts by Job Market Monitor to follow) Likewise, anything short of this benchmark would push the unemployment rate up. … Continue reading
US / Closing the Gender Wage Gap by Raising the Minimum Wage
Women working full time, year round typically make only 77 percent of what their male counterparts make – leaving a wage gap of 23 cents on the dollar. One reason for this gap is that women are concentrated in low-wage jobs: two-thirds of minimum wage workers and workers in tipped occupations are women, disproportionately women … Continue reading
US / Weekly Jobless Claims fall. Better check tomorrow what is going on
SEASONALLY ADJUSTED DATA In the week ending June 1, the advance figure for seasonally adjusted initial claims was 346,000, a decrease of 11,000 from the previous week’s revised figure of 357,000. The 4-week moving average was 352,500, an increase of 4,500 from the previous week’s revised average of 348,000. Chosen excerpts by Job Market Monitor … Continue reading
US / Job Creation Best in Five Years finds Gallup
Gallup’s U.S. Job Creation Index increased to 22 in May, the highest score for any month since April 2008. The Job Creation Index is now much improved from the all-time monthly low of -5 recorded in February and April 2009. The net job creation score is based on 37% of workers telling Gallup that their … Continue reading
US / The unemployment problem: bigger than NYC and LA combined – Economy
12 million unemployed The job market has been healing for more than three years now, but the jobs crisis is still truly a crisis. The staggering statistics get repeated so often they can become numbingly abstract. About 12 million Americans still remain unemployed, but who can wrap their head around that number? Try wiping both … Continue reading
US Law School / The Oversupply of law school graduates
By now, even law schools themselves acknowledge that they’ve been churning out too many graduates for too few available jobs. Less widely appreciated, however, is that the lawyer glut appears to be much more severe in some parts of the country than in others. There’s nowhere in the United States that new JD’s have it especially … Continue reading
US Census / Are Big City Growth Coming Back ?
Big cities could be making a growth comeback after a rocky decade. Their growth rates are rising and, for the second year in a row, they are growing faster than their surrounding suburbs. The Census Bureau’s new release of population estimates for cities through July 2012 offer some surprises in light of recent trends. After … Continue reading
US / Home Eldercare: Finding Skilled Workers Not Easy
The Great Recession led to a multiplication of home health businesses that is confusing to consumers, most of whom have never sought such services before. Just as more Americans lost their jobs, the demand for elder care increased, drawing displaced workers and entrepreneurs into the market. “There are a ton of them out there, and … Continue reading
Reshoring in the US / 11 Companies That Brought Jobs Back Home
over 50,000 jobs have been “reshored,” as it’s called, in the past three years, according to Harry Moser, president of the Reshoring Initiative, a non-profit dedicated to showing some U.S. companies the benefits of doing business at home. He says altruism has little to do with why most companies end up returning manufacturing to the … Continue reading
US / The New College Grads Job Market In 3 Graphs
According to the National Center for Education Statistics, bachelor’s degree holders between the ages of 20 and 24 saw average unemployment more than double from 2007 through 2011. But by 2012, it was falling quickly, back to within about a point of where it was at the turn of the century, when times weren’t exactly … Continue reading
US / Jobless Claims rise but data could be distorted
SEASONALLY ADJUSTED DATA In the week ending May 25, the advance figure for seasonally adjusted initial claims was 354,000, an increase of 10,000 from the previous week’s revised figure of 344,000. The 4-week moving average was 347,250, an increase of 6,750 from the previous week’s revised average of 340,500. The advance seasonally adjusted insured unemployment … Continue reading
US / Breadwinner Moms: 40% of all households
A record 40% of all households with children under the age of 18 include mothers who are either the sole or primary source of income for the family, according to a new Pew Research Center analysis of data from the U.S. Census Bureau. The share was just 11% in 1960. These “breadwinner moms” are made … Continue reading
US Skills Gap / 39 percent employers are having difficulty finding staff with the right skills finds ManpowerGroup
ManpowerGroup has released the results of its eighth annual Talent Shortage Survey, revealing 39 percent of U.S. employers are having difficulty finding staff with the right skills, down from 49 percent in 2012. U.S. employers report a slightly more pronounced talent shortage than their global peers, 35 percent of whom report difficulty finding the right … Continue reading
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