Job Market Monitor
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College – Earnings – US: What different college degrees make?
“Part of the reason people go to college is to get better jobs. It’s by no means the only reason, of course; a liberal arts education can enrich a person’s life in ways besides better employment. But better employment is surely one of the crucial goals, and jobs that require college degrees generally pay better … Continue reading
US – Unemployment Claims : The good news didn’t last, an increase of 46,000
SEASONALLY ADJUSTED DATA In the week ending October 13, the advance figure for seasonally adjusted initial claims was 388,000, an increase of 46,000 from the previous week’s revised figure of 342,000. The 4-week moving average was 365,500, an increase of 750 from the previous week’s revised average of 364,750. The advance seasonally adjusted insured unemployment rate was 2.5 percent … Continue reading
US Competitiveness – STEM – Change the Equation
“… The U.S. will be short as many as 3 million high-skills workers by 2018, according to a Georgetown University report issued last year. Two thirds of those jobs will require at least some post-secondary education, says Anthony Carnevale, director of the Georgetown’s Center on Education and the Workforce.” “So dire are the predictions about … Continue reading
US – Is the recovery really here now? Yes indeed.
It seems real this time. 1. The unemployment rate is down: In U.S., Unadjusted Unemployment at 7.3% in Mid-October U.S. unemployment, as measured by Gallup without seasonal adjustment, is 7.3% in mid-October, down considerably from 7.9% at the end of September and at a new low since Gallup began collecting employment data in January 2010. Gallup’s … Continue reading
US – The Great Recession Was Worst on the Poor
The Great Recession hit all of us, but it didn’t hit all of us equally. It turns out the more you had to lose, the less you lost. The chart below from Amir Sufi, a professor of finance at the University of Chicago Booth School of Business, shows us this depressing story in three graphs. … Continue reading
Microsoft – Layoffs at Lionhead
Guildford studio Lionhead has endured a further misery following the launch of its poorly received Kinect exclusive Xbox 360 game Fable: The Journey. Parent company Microsoft confirmed it has issued redundancies to “less than ten per cent of staff”. In a statement sent to industry publication Develop, the platform holder added: “Following the completion of … Continue reading
US Economy – 60 Leading Economists Survey
If we’re ever going to get out of this slump, what will it take? Foreign Policy asked more than 60 leading economists to tell us. via The FP Survey: The Economy | Foreign Policy.
Colorado – Vestas cuts 200 more jobs
Vestas has continued its US restructuring programme and cut 200 jobs at its Windsor, Colorado blade manufacturing plant. In all, Vestas chief executive Ditlev Engel has said the company would cut 1,600 jobs if the production tax credit (PTC) was not renewed. The 200 job losses at Windsor represent 29% of the plant’s workforce. The … Continue reading
US – Latin American and Caribbean Women are Better Educated but get Lower Paid
Despite recent gains, the wage gap between men and women in Latin America still prevails, according to a new Inter-American Development Bank (IDB) study entitled “New Century, Old Disparities,” which compares surveys of representative households in 18 Latin American and Caribbean countries. The study was released at the POWER Conference, a high-level meeting of experts … Continue reading
Unemployment – Hurts more than just the Unemployed
High unemployment has negative spillovers for most of those still at work. In a labor market like ours, with low unionization rates, bargaining clout for many in the workforce is very much a function of the unemployment rate. Excess labor supply over labor demand typically puts downward pressure on both nominal and real wages. The … Continue reading
US – Amazon : Hiring 50,000 seasonal workers
It’s only October, but companies like Amazon are already thinking about the holidays. The online retailer is the latest to announce its seasonal hiring plan, and it’s significant: 50,000 jobs in the United States Amazon (AMZN, Fortune 500) currently employs 20,000 people at its 40 fulfillment centers across the country, where the seasonal employees will … Continue reading
US – 14 million white-collar jobs are vulnerable to being outsourced offshore
Is offshore outsourcing good or harmful for America? To convince Americans of outsourcing’s benefits, corporate outsourcers sponsor misleading one-sided “studies.” Only a small handful of people have looked objectively at the issue. These few and the large number of Americans whose careers have been destroyed by outsourcing have a different view of outsourcing’s impact. But so … Continue reading
Veterans – A Coalition To Train for Manufacturing Jobs
To fill advanced manufacturing jobs, a new coalition of employers will train veterans, and help them to translate their wartime skills to civilian use, writes GE Chairman and CEO Jeffrey Immelt. In 1999, as soon as he completed high school and following in the footsteps of his father and grandfather, Lionel Hamilton enlisted to serve … Continue reading
Working America – An Overview
Daily stock indices, monthly employment reports, and even quarterly data on the gross domestic product are insufficient indicators for answering this vital question: How well is the American economy providing acceptable growth in living standards for most households? EPI’s The State of Working America, 12th Edition looks broadly at available data and concludes that the … Continue reading
Monetary and fiscal policies will never suffice to reduce long-term unemployment
One of the main policies to reduce long-term unemployment is an active labor market policy. The OECD publishes each year data on Government investments in labor market programs like training and wage subsidies.
Gemany and the Scandinavian countries are champions of active labor market policies. This is well known. But, less known is the fact that the US are not. US investment in active labor market programs before the Great recession wasbelow the OECD average, nearly 4 times lower: 0.13% of GDP vs 0.48%.
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