Job Market Monitor
US
US – Employers have market power in many labor markets
Using data on the near-universe of online US job vacancies collected by Burning Glass Technologies in 2016, we calculate labor market concentration using the Herfindahl- Hirschman index (HHI) for each commuting zone by 6-digit SOC occupation. The average market has an HHI of 3,953, or the equivalent of 2.5 recruiting employers. 54% of labor markets … Continue reading
Careers Within a Firm in US – Wage growth for young workers deteriorated substantially in the first decade of the 2000s
With falling labor market dynamism in the United States, opportunities within firms take on increasing importance in young workers’ career progression. Developing a variety of occupational ranking metrics, the author shows that occupational mobility within firms follows a standard life cycle pattern in which the frequency, distance, and wage return from mobility falls with age. … Continue reading
Participation in US – Despite no sustained increase in the observed labor force participation rate in recent years, there has been a significant cyclical increase
After increasing for nearly four decades, the rate of labor force participation for individuals at least 16 years old began to fall in the first decade of the 2000s, from a peak of 67.1 percent in 2000 to 66.0 percent at the start of the 2007–2009 recession. Between the start of the recession and 2014, … Continue reading
Job Report in US, March 2018 – Employment up by 103,000 and unemployment unchanged (4.1 %)
Total nonfarm payroll employment edged up by 103,000 in March, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in manufacturing, health care, and mining. Household Survey Data In March, the unemployment rate was 4.1 percent for the sixth consecutive month,and the number of unemployed … Continue reading
The Distribution of Household Income in US, 2014 – Average of $19,000 for the lowest quintile and of $281,000 for the highest quintile and getting worse
In 2014, average household income before accounting for means-tested transfers and federal taxes was $19,000 for the lowest quintile and $281,000 for the highest quintile. After transfers and taxes, those averages were $31,000 and $207,000. What Are the Trends in Household Income and Income Inequality? According to the agency’s estimates, average household income before transfers … Continue reading
University-Educated Immigrants in Australia, Canada, and the US – Performance advantage in US
Recent years have seen a push in the U.S. and in a number of European countries, including the U.K. and Germany, for governments to adopt `point systems’ for screening prospective immigrants on human capital criteria. The appeal of a `points system’ reflects not only concerns about the potential adverse effects of unskilled migrant flows on … Continue reading
Older Workers in US – Employment comparatively high at 62% among 55-64 year-olds against 59% on average in OECD (2016)
In the United States, employment rates at older ages are comparatively high at 62% among 55-64 year-olds against 59% on average in OECD countries in 2016. However, there are large disparities across population groups. Early retirement remains a widespread phenomenon, especially among workers from vulnerable socio-economic backgrounds. Preventing old-age disparities in terms of employment outcomes … Continue reading
US – The skills-based concept is gaining momentum
As the United States struggles with how to match good jobs to the two-thirds of adults who do not have a four-year college degree, his experience shows how a worker’s skills can be emphasized over traditional hiring filters like college degrees, work history and personal references. And elevating skills over pedigree creates new pathways to … Continue reading
Job Report in US, February 2018 – Extraordinarily strong : employment increased by 313,000 and unemployment unchanged at 4.1 percent
Total nonfarm payroll employment increased by 313,000 in February, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in construction, retail trade, professional and business services,manufacturing, financial activities, and mining. Household Survey Data In February, the unemployment rate was 4.1 percent for the fifth consecutive … Continue reading
Gender Discrimination in US – More common in mostly male workplaces Pew Research Center finds
The gains women have made over the past several decades in labor force participation, wages and access to more lucrative positions have strengthened their position in the American workforce. Even so, there is gender imbalance in the workplace, and women who report that their workplace has more men than women have a very different set … Continue reading
STEM in US – Skills that matter to regions
This article highlights research in The STEM Dilemma: Skills That Matter to Regions, which was recently published by the Upjohn Institute. The book looks at the regional workforce through the lens of the knowledge, skills, and abilities (KSAs) associated with regional occupations. This fine-grained approach uses data in the Occupational Information Network (O*NET) database to … Continue reading
Automation and Minimum Wage in US – Some groups typically ignored in the minimum wage literature are in fact quite vulnerable to job loss
For decades, economists have studied the effects of the minimum wage on employees in the United States. These studies have largely focused on the employment effects for low- skilled workers – with the principal focus on teenagers. Overall, there is some controversy regarding whether disemployment effects exist, with some studies finding no effects,although with more … Continue reading
Gender STEM Gap in US – More college degrees overall, but earn a minority of undergraduate degrees issued in stem fields
U.S. women earn more college degrees than men overall, but earn a minority of undergraduate degrees issued in stem fields In their study of gender disparities in education and employment, Ana Maria Munoz-Boudet and Ana Revenga, two experts from the World Bank, found that gender gaps in STEM fields are common around the world. … Continue reading
Vocational and Technical Education in US – Public sector students outperform for-profit students on nearly every measure study finds
In a forthcoming paper for the Journal of Human Resources, co-authored with Federal Reserve Board of Governors Senior Economist Nicholas Turner, we generate comprehensive new estimates of labor market outcomes and debt incurred by students in vocational (or career-technical education, “CTE”) certificate programs in the for-profit sector. We compare for-profit students’ outcomes to the outcomes … Continue reading
College Completion in US – Too few are completing postsecondary education
American postsecondary education faces urgency to respond to a decades-long shift in the labor market: a declining share of good jobs today are available to those with a high school diploma or less. But too few American students are completing postsecondary education. Just over half of college enrollees will graduate within six years and the … Continue reading
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