Job Market Monitor
US
Top 1% Earners / In What Field Do They Majored In ?
According to the Census Bureau’s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order. Below is a chart showing the majors most likely to get into the 1 percent (excluding majors held by fewer than 50,000 … Continue reading
Almost 15% of activie American were unemployment some time during 2011
The “work-experience unemployment rate”—defined as the number of persons unemployed at some time during the year as a proportion of the number of persons who worked or looked for work during the year—was 14.9 percent in 2011, down from 15.9 percent in 2010. The work-experience unemployment rates for Whites (13.7 percent) and Hispanics (18.3 percent) … Continue reading
US / Historians / Jobs Rose Last Year
The number of academic-job openings in history increased by 18 percent in 2011-12, but the competition for such positions is steep as the number of new Ph.D. recipients continues to outstrip the number of available jobs, according to a new report by the American Historical Association. The report was published on Wednesday in the association’s … Continue reading
US / 2013 job market for College graduates, construction workers and Government workers
Amid another blah year, a few workers that bore the brunt of the Great Recession stand to gain in 2013. Here are three: College graduates Congrats class of 2013! You have a better chance landing your dream job than the poor grads before you working as baristas. The years following the Great Recession hit workers … Continue reading
US / The Rising Age Gap: The Old vs the Young
Households headed by older adults have made dramatic gains relative to those headed by younger adults in their economic well-being over the past quarter of a century, according to a new Pew Research Center analysis of a wide array of government data. In 2009, households headed by adults ages 65 and older possessed 42% more … Continue reading
US / Top Miminum Wage will rise by 1.2 Big Mac per week to $10.55
The highest minimum wage in the nation is set to rise again in 2013, as San Francisco’s low-end compensation rate will increase from $10.24 to $10.55 per hour. In 2003, voters approved a local ordinance tying the minimum wage to the regional rate of inflation in San Francisco, Oakland and San Jose. Set at $8.50 … Continue reading
Hurricane Sandy / It had an impact on mass layoffs finds the BLS
Employers took 1,759 mass layoff actions in November involving 173,558 workers as measured by new filings for unemployment insurance benefits during the month. Mass layoff events increased by 399 from October, and the number of associated initial claims increased by 42,385. Mass layoff data for November reflect the impact of Hurricane Sandy on workers in … Continue reading
The Great Recession / 6.3 M children were living in families with an unemployed parent on average in 2012
“Economic conditions for children today are similar to those of a year ago—and much worse than they were in 2007. Millions of families with children have not yet regained ground lost during the recession.” write Julia B. Isaacs and Olivia Healy in The Recession’s Ongoing Impact on Children, 2012: Indicators of Children’s Economic Well-Being (Adapted choosen excerpts by … Continue reading
Lincoln Electric, Cleveland / Profit-Sharing and No Layoffs for 64 Years
Economics correspondent Paul Solman revisits Lincoln Electric, a welding manufacturing company based outside Cleveland, Ohio. Through its use of merit-based profit-sharing and a no-layoff policy, the firm is an unlikely Rust Belt success story that hasn’t laid off anyone for financial reasons since World War II. PAUL SOLMAN: A bright light in Rust Belt America: … Continue reading
The ‘Right to Work’ From The Right: A Race-To-The-Bottom Policies
Michigan Republicans are pushing low wages, claiming that “right-to-work” laws will “attract businesses.” Conservatives argue that strong unions cost jobs and anti-union “right-to-work” laws will bring jobs, because companies will move to places where workers are less able to fight for good pay and benefits… Right-to-work laws have not succeeded in boosting employment growth in … Continue reading
US / Private sector workers outnumbered by people supported by govn’t in 11 states
In 11 states, private sector workers are outnumbered by people who are dependent on the government, including state workers and those who are receiving welfare or pension. The list: New Mexico 1,53 Mississippi 1,49 California 1,39 Alabama 1,10 New York 1,07 Maine 1,07 South Carolina 1,06 Kentucky 1,05 Illinois 1,03 Hawaii 1,02 Ohio 1,00 Adapted … Continue reading
Laid offs lose nearly 2.8 years of income over the rest of their working lives
Even in relative good times, laid-off workers take a huge financial hit as a result of their involuntary job losses. In a recent study, scholars at the University of Chicago and Columbia University found that men ages 50 and under who were laid off when the nation’s unemployment rate stood below 6 percent could expect … Continue reading
US / State of Local Government Pensions: aggregate unfunded liabilities of $574 billion
State government pensions have attracted considerable media and scholarly attention. Less well understood are the nation’s 3,196 locally administered plans. The paper represents a first step toward filling this gap. After reviewing issues common to state and local plans, it summarizes existing data and research on local pensions. Like many institutions now prevalent in state … Continue reading
New England / Parachute maker Niche Inc warns of 360 layoffs
A New Bedford company that makes parachutes is warning it may have to cut some 360 jobs in February because of an expected drop in defense work. Kenneth Bello, a lawyer for Niche Inc., told the Standard Times of New Bedford that the company does not have enough new military contracts on the horizon to … Continue reading
American Chinese immigrants / Affluent and educated elites choosing for a better education for their children
Americans may complain about the quality of their schools, but for the most recent wave of Chinese immigrants, it’s the No. 1 draw. According to the 2012 Annual Report of Chinese International Migration published this Monday, China is undergoing a mass migration of its citizens overseas, with the United States being far and away the … Continue reading
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