Job Market Monitor
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US / Social Media: The Demographics
A late 2012 survey by the Pew Research Center’s Internet & American Life Project shows that young adults are more likely than others to use major social media. At the same time, other groups are interested in different sites and services. Internet users under 50 are particularly likely to use a social networking site of … Continue reading
After the Great Recession: The Challenge
Joshua Meltzer, David Steven and Claire Langley in The United States After the Great Recession: The Challenge of Sustainable Growth (Brookings Institution) write: “Never before has our nation enjoyed, at once, so much prosperity and social progress with so little internal crisis and so few external threats,” President Clinton argued in January 2000 in his final State … Continue reading
US / Raising That Minimum Wage: Surprisingly a good policy says Krugman
The president’s call for a rise in the minimum wage from $7.25 an hour to $9, with subsequent increases in line with inflation. The question we need to ask is: Would this be good policy? And the answer, perhaps surprisingly, is a clear yes. Why “surprisingly”? Well, Economics 101 tells us to be very cautious … Continue reading
US / Job creation is harder
Something’s changed in how the economy works. One theory is “deleveraging”: Americans paying down their high debt. The economy won’t accelerate until this process is complete, the argument goes; the fact that debt-service ratios have dropped to early 1990s levels is considered a good omen. Another approach is to examine the economy by sectors and … Continue reading
Raising The Minimum Wage : NYT’s David Leonhardt on the Economic Impact (audio)
In his State of the Union address, President Obama called for Congress to raise the minimum wage. Weekend Edition Saturday host Scott Simon speaks with David Leonhardt, the Washington bureau chief of The New York Times, about the political prospects for such a plan. Click on the image to get to the podcast via The … Continue reading
US / It is a Long-Term Unemployment Crisis
The rate of short-term unemployment—six months or less—is almost back to normal. In January it was 4.9 percent of the labor force. That’s only 0.7 percentage point above its 2001-07 average. But the rate of long-term unemployment, 3 percent in January, is precisely triple its 2001-07 average, according to a Bloomberg Businessweek calculation based on Bureau of Labor … Continue reading
Fed / Aggressive easing needed says Yellen in an address to AFL-CIO
The Federal Reserve’s aggressive easing of monetary policy is warranted given the still-battered state of the U.S. labor market, Fed Vice Chairwoman Janet Yellen said on Monday. In an address to the politically influential AFL-CIO, the largest U.S. labor group, Yellen, a potential successor to Fed Chairman Ben Bernanke next year, bemoaned the unusually weak … Continue reading
New York City Suburb / The Highest Concentration of High-Income Households
The Bridgeport-Stamford-Norwalk, Conn., metropolitan area, near New York City, had the highest percentage of households with high income in the nation at 17.9 percent, according to a report released today by the U.S. Census Bureau. At the other end of the spectrum are two metro areas named Danville — in Virginia and Illinois — each … Continue reading
Jobless Americans in their 50s and 60s apply their talent and experience on toughest problems
The plight of jobless Americans in their 50s and 60s is well documented, and it deserves attention. But there’s a different, more optimistic story unfolding. A small army of baby boomers is hitting midlife eager to apply their talent and experience to solving some of our country’s — and the world’s — toughest problems, from … Continue reading
US / The moment of truth for the job market too
There’s a growing meme that the market and the economy are about to have a date with destiny. The thinking is this: Markets have surged all year like there’s not a care in the world. On the other hand, the economy has already been buffeted by one major headwind (the end of the payroll tax … Continue reading
US / Orphan Clauses / State workers face smaller pension benefits
For public sector workers across the country, the difference of a couple of years, months or even days when starting on the job could mean the loss of hundreds of thousands of dollars in retirement benefits. Facing ballooning bills and strained budgets, 45 states have either cut pension benefits or increased mandatory employee retirement plan … Continue reading
US / The number of Americans with marathon commutes is on the rise
The number of Americans with marathon commutes is on the rise, particularly following a debilitating recession that has pummeled employment and the housing sector, a recent report on the nation’s “super commuting” trend finds. “What’s really driving this is the economy,” says Mitchell Moss, director of New York University’s Rudin Center for Transportation and co-author … Continue reading
US / Born children of immigrants are substantially better off than immigrants themselves
Second-generation Americans—the 20 million adult U.S.-born children of immigrants—are substantially better off than immigrants themselves on key measures of socioeconomic attainment, according to a new Pew Research Center analysis of U.S. Census Bureau data. They have higher incomes; more are college graduates and homeowners; and fewer live in poverty. In all of these measures, their … Continue reading
US / Academic Library / Hiring
If you do the math, academic librarianship is a growing field. Therese Triumph, Reference Librarian at Rutgers University, and Penny Beile, Associate Director of Information Services at University of Central Florida, did just that, analyzing positions advertised in 2011 on the ALA JobList, ARL Job Announcements, and in the Chronicle of Higher Education. Triumph and … Continue reading
US / Unemployment Benefits / Down Only Slightly
Job Market Monitor: Two out of three employment-related reports were positive and only 28,000 persons were saying they have a job in the latest monthly labor market report . Latest claims data reflect those weaknesses for three weeks in a row. There are down only slightly, reflecting a very moderate growth in hiring. The Report SEASONALLY ADJUSTED DATA In … Continue reading
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