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US – Industrial production declined 0.3 percent in January
Industrial production declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft. The index for manufacturing edged down 0.1 percent in January; excluding the production of aircraft and parts, factory output advanced 0.3 percent. The index for mining rose 1.2 percent. At 109.2 percent … Continue reading
Immigrants and Wage Distribution in US – A one percentage point increase in the share of foreign-born leads to a 0.2–0.3 percent wage decrease in the bottom decile research finds
Since the early 1980s, the stock of immigrants to the US has been rapidly increasing and potentially disrupting labor markets across the country. Over the same period, the US wage distribution has experienced significant and uneven changes. Traditional economic models predict that foreign-born can affect relative wages so long, they alter the relative supplies of … Continue reading
US – Automatic Stabilizers in the Federal Budget, 2020 to 2030
Federal revenues and outlays regularly respond to cyclical movements in the economy in ways that tend to dampen those movements; the budget mechanisms that drive that process are known as automatic stabilizers. Those mecha- nisms help stabilize the economy automatically, without any legislated changes in tax or spending policies. In this report, the Congressional budget … Continue reading
Two Recessions and Recoveries in US – The trajectories side-by-side
The Great Recession of 2007-2009 was one of the deepest downturns of the U.S. economy since World War II. Triggered by crises in the housing and financial markets, the recession evokes memories of homes in foreclosure, the collapse of Lehman Brothers, and bailouts for businesses in the auto, banking and financial sectors. The subsequent expansion began … Continue reading
Skills in US – Talent is America’s most precious resource
In his recent book, The Gift of Global Talent, Harvard economist William R. Kerr argues that talent is the world’s most precious resource. Across America’s network of regional economies, this is undoubtedly true. The collective knowledge and capabilities of the U.S. workforce is worth an estimated $240 trillion—four times more valuable than the country’s physical … Continue reading
Job Report in US (November 2019) – Employment rose by 266,000, much better than expected
Total nonfarm payroll employment rose by 266,000 in November, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services. Employment rose in manufacturing, reflecting the return of workers from a strike. Household Survey Data … Continue reading
The Skills Gap in US – A look at the skill gap skeptics arguments
There can be no question that American employers have a record number of unfilled jobs. For the past year, the number has hovered around 7 million. As of early January 2019, the number reported by the U.S. Department of Labor Bureau. Faced with real numbers, skill gap skeptics make several arguments besides denying the validity … Continue reading
Training in US – The 2019 Training Industry Report
TRAINING EXPENDITURES Total 2019 U.S. training expenditures—including payroll and spending on external products and services—declined 5.3 percent to $83 billion. Spending on outside products and services dipped from $11 billion to $7.5 billion, while other training expenditures (i.e., travel, facilities, equipment) decreased to $23.8 billion from $29.6 billion. Meanwhile, training payroll increased 10 percent to … Continue reading
The Training System in US – Complicated, hard to navigate, and under-funded
The American job training, or human capital development, system is complicated, hard to navigate, and under-funded. Yet at the same time it has significant strengths and many best practice and effective models. The United States does not have a training system for adults if what is meant by the term “system” is a well-articulated set … Continue reading
Increasing the Federal Minimum Wage – An interactive tool that allows users to explore the effects of policies by CBO
The federal minimum wage of $7.25 per hour has not changed since 2009. Increasing it would raise the earnings and family income of most low-wage workers, lifting some families out of poverty—but it would cause other low-wage workers to become jobless, and their family income would fall. This interactive tool allows users to explore the … Continue reading
Immigration in US – Labor force growth is currently one-third of its recent historical average
What role can immigration play in bolstering future workforce and economic growth, and meeting shifting demand for both high- and low-skilled labor? Although the U.S. economy had a banner year in 2018, posting 3 percent gross domestic product (GDP) growth, the long-run projections are not nearly as bright. GDP growth is anticipated to average less … Continue reading
Low-Wage Workers in US – More than 53 million people, 44% of all workers aged 18-64 says Brookings study
Jobs play a central role in the lives of most adults. As forces like globalization and automation reshape the labor market, it is clear that some people and places are positioned to do well while others risk becoming collateral damage. The well-educated and technically savvy find ample employment opportunities, while those with lower levels of … Continue reading
Unemployment in US – Let’s talk stats, facts, causes and more
Guess post by Max Chekalov, whattobecome.com – The unemployment rates of the world population are fairly low, especially if we consider the leading countries. However, even these economies constantly take vast measures in terms of preventing this uncalled-for phenomenon that troubles millions of people worldwide. The number of people on our planet is changing by billions at … Continue reading
US – Few rigorous evaluations exist to measure the success of government-funded training programs the Council of Economic Advisers says
For the first time since the Government began tracking job openings nearly 20 years ago, there are more job openings in the United States than unemployed people looking for work. In fact, there are over 1.6 million more job openings than unemployed people. Because of the Trump Administration’s pro-growth policies, the American worker is in … Continue reading
Wages in US – What is really happening ?
Over the past 12 months, average hourly wages rose 3.2 percent, according to the latest jobs report from the Bureau of Labor Statistics. But the longer-term story is contested. Many analysts and commentators lament the situation of stagnating wages, while others celebrate wage growth. To take just two of hundreds of examples, our colleagues in … Continue reading
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