Job Market Monitor
US
Job Report in US (July 2022) – Total nonfarm payroll employment rose by 528,000 and unemployment edged down to 3.5 percent
Total nonfarm payroll employment rose by 528,000 in July, and the unemployment rateedged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Jobgrowth was widespread, led by gains in leisure and hospitality, professional andbusiness services, and health care. Both total nonfarm employment and the unemploymentrate have returned to their February 2020 pre-pandemic … Continue reading
Job Cuts in US – Ford is preparing to cut as many as 8,000 jobs in the coming weeks
Ford Motor Co. is preparing to cut as many as 8,000 jobs in the coming weeks as the automaker tries to boost profits to fund its push into the electric-vehicle market, according to people familiar with the plan. Chosen excerpts by Job Market Monitor. Read the whole story @ Ford Job Cuts: 8,000 Roles Set to … Continue reading
Gen Z and Education Pathways in US – Most prefer learning hands-on skills either in a lab/classroom or through on-the-job experiences
ECMC Group has released the latest data from its multi-year Question the Quo Education Pulse study of Gen Z teens. The latest findings point to a possible “new normal” for education that requires shorter, less expensive, more direct-to-career pathways in high-demand industries. This report highlights these findings as well as the trends uncovered in five … Continue reading
Labor Shortages in US – Filling talent gaps with “missing workers”
As of May 2022, there were a near-record 5.3 million more job openings than available workers, according to the Bureau of Labor Statistics. Yet at the same time, there are 5.7 million persons who want a job now but are not currently looking for one. These missing workers can be classified into two groups of … Continue reading
Inflation in US (May 2022) – Consumer Price Index increased 9.1 percent over the last 12 months
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.3 percent in June on a seasonally adjusted basis after rising 1.0 percent in May, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 9.1 percent before seasonal adjustment. The increase was broad-based, with the indexes for gasoline, shelter, … Continue reading
Job Report in US (June 2022) – Employment rose by 372,000 unemployment remained at 3.6 percent
Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care. Household Survey Data The unemployment rate was 3.6 percent for the fourth month in a row, and the … Continue reading
Employment Service in US – Evolution of the funding 1984-2008, a chart
Chosen excerpts by Job Market Monitor. Read the whole story @ “The Wagner-Peyser Act and U.S. Employment Service: 75 Years of Matchin” by Christopher J. O’Leary and Randall W. Eberts
The Small Business Workforce Challenge in US – A “perfect storm”
On June 8, 2022, Brookings Metro Fellow Annelies Goger testified to the U.S. Senate Committee on Small Business & Entrepreneurship, during a hearing titled The Small Business Workforce Challenge: Causes, Impacts and Solutions. Goger started her testimony with a personal story about her father’s small business challenges. She then explained a “perfect storm” of factors … Continue reading
College Grads in US – About 50 percent of recent college graduates are living and working in the metro area nearest the institution they attended
A principal aim of colleges is to equip students with knowledge, skills, and connections that will lead to labor market success and future wellbeing. A clear understanding of the labor markets in which a college operates stands to inform institution-level decision-making as well as broader questions about links between college-going and economic development, mobility, and … Continue reading
Job Openings in US (end of April) – Decreased by 455,000 or 7.0 percent to 11.4 million
[In case you missed ] The number of job openings decreased to 11.4 million on the last business day of April … On the last business day of April, the number and rate of job openings decreased to 11.4 million (-455,000) and 7.0 percent, respectively. The largest decreases in job openings were in health care and … Continue reading
Labor Shortage in US – To Fix it, solve the care crisis
Ongoing labor and talent shortages threaten US economic leadership and future growth. Even as the country approaches a return to prepandemic levels of employment and workforce participation, it faces historic job vacancies: there are 5 million more open jobs than people in the workforce. To address this shortage, US policymakers and employers must act decisively … Continue reading
Inflation in US – Consumer Price Index increased 8.6 percent over the last 12 months, the highest increase since December 1981
The Consumer Price Index for All Urban Consumers (CPI-U) increased 1.0 percent in May on a seasonally adjusted basis after rising 0.3 percent in April, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 8.6 percent before seasonal adjustment. The increase was broad-based, with the … Continue reading
Economic Outlook in US (2022-2032) – CBO’s projections
After 2022, CBO projects, the growth of real gross domestic product will slow because of several factors, including tightening monetary policy, slowing demand for labor, and waning fiscal support. In CBO’s projections, real potential gross domestic product grows faster over the next five years than it has since the 2007–2009 recession because potential labor force … Continue reading
COVID and Immigration in US – Number of visas for legal permanent residence fell 48 percent
The COVID-19 pandemic both revealed the ways in which the lives of the U.S. born and immigrants are interconnected and exposed the country’s social and economic divides. As the health crisis disrupted the food supply chain and the economy overall, the public gained new awareness of the contributions of foreign-born workers. Even as immigrants working … Continue reading
Gig Workers in US – Poor working conditions, low pay survey finds
Digital platform companies have constructed a business model on the premise that they do not employ their workforce. These companies treat workers who perform the services they offer not as employees but as independent contractors. By classifying their workforce in this way, they deprive workers of fundamental rights under federal and state labor and employment … Continue reading
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