Job Market Monitor
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US / Unemployment Benefits / New data are reassuring as jobless claims fall to 5-year low
Tow weeks ago, 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. Last week claims data reflected those weaknesses, but new data are reassuring. SEASONALLY ADJUSTED DATA In the week ending January 12, the advance figure for seasonally adjusted initial claims was 335,000, a decrease … Continue reading
US / Business Roundtable proposes raising retirement age to 70
A business group of top executives on Wednesday proposed reforms to Social Security and Medicare that would raise the enrollment age for both programs to 70 but not raise Social Security taxes paid by upper-income Americans. The Business Roundtable, which represents more than 200 chief executives from some of the largest U.S. corporations, also urged … Continue reading
US / Pentagon / Civilian hiring freeze
The Pentagon is starting a civilian hiring freeze, effective immediately, Bloomberg News is reporting Wednesday. The move is related to the budget sequester that will take effect in March if Congress and the White House don’t act to turn off the sequester or replace its automatic spending cuts. While expected — Defense Secretary Leon Panetta … Continue reading
US / 47.5 million in Working Poors Families, could reach 50 millions soon
“While the U.S. economy has shown some signs of recovery—the U.S. unemployment rate has dipped below 8 percent from 10 percent three years ago—the economic outlook for many working families is bleak” write Brandon Roberts, Deborah Povich and Mark Mather New in LOW-INCOME WORKING FAMILIES: THE GROWING ECONOMIC GAP (Adapted choosen excerpts by Job Market Monitor to follow) Data from the U.S. … Continue reading
US / Unemployment Insurance: Extended benefits have added more than 125 percent over the past two years
“Unemployment insurance programs insure workers against the risk of lost income if they lose their job through no fault of their own. In the U.S., the program is run at the state level. Each state sets its benefit level and eligibility criteria, and finances these benefits through payroll taxes.2 ” write David L. Fuller, B. Ravikumar and … Continue reading
US / 23% of undergraduates with at least one parent who is an immigrant
While people earning STEM degrees has been on the uptick in the past two decades, a more recent Census report shows that most of the degrees in computer, math, statistics, and engineering disciplines are still going to foreign-born residents, primarily to those from China and India. Below are some interesting facts (many referring to the … Continue reading
US / Job Gap / Construction Still in The Red
Of the 8.8 million jobs lost in the U.S. economy, a whopping 2.2 million were in construction. Most of those jobs have yet to come back. Some construction firms expect to hire more workers in 2013, but don’t call it a comeback just yet. About 31% of construction companies plan to hire workers this year, … Continue reading
Fed’s Rosengren: unemployment is well above a longer-run sustainable rate
Aggressive policy easing will remain necessary for the simple reason that levels of both U.S. unemployment and inflation are not where the Federal Reserve wants them to be, a top U.S. central bank official said on Tuesday. In a textbook argument that appeared to push back at some of his more hawkish peers, Boston Fed … Continue reading
US Job Market : Overall, an improvement
The chart below tells a familiar, but not too happy, story. Only one of the variables in the collection of employer behavior, employee and employer confidence, and labor resource utilization categories has recovered even half the gap from its prerecession benchmark. The labor resource utilization variables look particularly bad, with one variable—marginally attached workers—actually getting … Continue reading
US / Solar Energy / Hemlock Semiconductor Laying off 400
Hemlock Semiconductor Group said on Monday it will lay off about 400 workers in Tennessee and Michigan due to a global glut of polysilicon and the threat of tariffs on its products sold in China. Hemlock is a major producer of polysilicon, the raw material used in most photovoltaic solar panels. It is a joint … Continue reading
US / The App Economy: from 0 to roughly 466,000 jobs in less than 5 years
“How can the U.S. dig itself out of the current job drought?” asks Michael Mandel in WHERE THE JOBS ARE: The APP Economy (Choosen excerpts by Job Market Monitor to follow) Government policy can temporarily boost employment. The ultimate answer, though, is innovation: The creation of new goods and services that spur the growth of new industries … Continue reading
From Factories to Cubicles (Infographics)
Source: BACK TO THE FUTURE IS THERE A SECOND ACT FOR U.S. MANUFACTURING?
US / College Degrees Matter
How Much Protection Does a College Degree Afford? Past research from Pew’s Economic Mobility Project has shown the power of a college education to both promote upward mobility and prevent downward mobility. In the wake of the Great Recession, however, many have questioned whether the advantageous market situation of college graduates has suffered under the pressure … Continue reading
US / Job openings and hiring need to improve
The November Job Openings and Labor Turnover Survey (JOLTS), released today by the Bureau of Labor Statistics, shows job openings were essentially flat in November, at 3.7 million (up by 11,000). The number of job openings, which had been improving fairly steadily since reaching its low of 2.2 million in July 2009, has stalled in recent months; … Continue reading
US / Unemployment Benefits / An increase to 371,000 reflecting weak reports
Lats week, 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. SEASONALLY ADJUSTED DATA In the week ending January 5, the advance figure for seasonally adjusted initial claims was 371,000, an increase of 4,000 from the previous … Continue reading
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