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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 / Growing and Dying industries (Infographics)
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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
State and Local Government in US / Ease up on layoffs and unfilled positions
The survey finds that the pace of state and local government retirements continues to be high. There are signs that the improving economy has begun to reach state and local governments, as they ease up on layoffs and compensation freezes imposed since the economic downturn of 2008. Other findings include: Twenty-two percent of retirement-eligible … 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 / Half of college grads are overqualified for their current job
Then last week Susan Adams received a report from consulting firm McKinsey, done together with student website Chegg, which is making that pit in my stomach deeper. In October and November of last year McKinsey surveyed 4,900 former Chegg customers, a mix of young people who went to private, public, vocational and for-profit institutions. The findings … Continue reading
US / Small Businesses Net Hiring Still Negative and Droping
More U.S. small-business owners report letting employees go than hiring them on average over the past year, for a net hiring index of -12 in April, according to the Wells Fargo/Gallup Small Business Index survey. This is on par with -10 in January and -9 in April 2012. These results are from the quarterly Wells … Continue reading
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