Job Market Monitor
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Students Grants – Within 10 years, imputed taxes fully recoup total government expenditures research
We estimate the effect of grant aid on poor college students’ attainment and earnings using student-level administrative data from four-year public colleges in Texas. To identify these effects, we exploit a discontinuity in grant generosity as a function of family income. Eligibility for the maximum Pell Grant significantly increases degree receipt and earnings beginning four … Continue reading
Job Report in US, October 2017 – Total nonfarm payroll employment rose by 261,000 and unemployment down to 4.1 percent
Total nonfarm payroll employment rose by 261,000 in October, and the unemployment rate edged down to 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment in food services and drinking places increased sharply, mostly offsetting a decline in September that largely reflected the impact of Hurricanes Irma and Harvey. In October, job gains also occurred in professional … Continue reading
Wealth Gap in US, 2016 – The median wealth of white households was 10 times the wealth of black households and eight times that of Hispanic households
The Great Recession of 2007-2009 triggered a sharp, prolonged decline in the wealth of American families, and an already large wealth gap between white households and black and Hispanic households widened further in its immediate aftermath. But the racial and ethnic wealth gap has evolved differently for families at different income levels, according to a … Continue reading
Employment trends by education requirement in US – A shift toward occupations with higher entry education
This article uses Occupational Employment Statistics (OES) data to examine recent employment trends by typical entry-level education requirement (hereafter in this article referred to as “entry education”). As noted earlier, the United States experienced an 18-month economic contraction beginning in December 2007, before entering a period of recovery beginning in June 2009. This section of … Continue reading
Truck Drivers in US – Motor carriers struggle to find enough qualified drivers
Over the past 15 years, the trucking industry has periodically struggled with a shortage of truck drivers. The first shortage during this period was documented in a 2005 report. At that time, the shortage was roughly 20,000. During the last recession starting in 2008, the driver shortage was eliminated as industry volumes plummeted, resulting in … Continue reading
Higher Ed in US – Low-income undergraduates are most likely to attend the schools with the least resources and worst outcomes
As higher education researcher Kelly Rosinger writes in this paper, the Equality of Opportunity Project’s Mobility Report Card data “provide the clearest picture we have to date of the role that colleges play in access, success, and upward mobility.” There’s some very good news in the Mobility Report Cards study. First and foremost, there are … Continue reading
The labor market in US, 2000–2016 – Recovery from the Great Recession is essentially complete, but there are di cult unemployment and wage issues
In the aggregate the US labor market is doing quite well. Unemployment is currently below 5%, and real weekly earnings of full-time workers increased from the 2000 cyclical peak to the current period of near full employment. The difficulties lie behind the aggregates. Earnings inequality continues to rise, with the growth in earnings most prevalent … Continue reading
Occupational Outlook in US – Total employment is projected to grow by 11.5 million jobs over the 2016–26 decade, reaching 167.6 million jobs in 2026
Employment is projected to increase by 11.5 million over the 2016-26 decade, an increase from 156.1 million to 167.6 million, the U.S. Bureau of Labor Statistics reported today. This growth–0.7 percent annually–is faster than the 0.5 percent rate of growth during the 2006–16 decade, a period heavily affected by the 2007–09 recession. Health care industries and their associated occupations … Continue reading
Workforce Development in US – Fed’s Capstone Conference 2017
Investments for workforce development require a foundation of institutional supports that will ensure accountability. This panel, representing diverse perspectives from the public, private and nonprofit sectors, will explore the institutions, policies and norms needed to establish, reinforce and facilitate new and increased investments. via Investing In America’s Workforce 2017 – YouTube
Wages of New Hires in US – Stronger growth for women compared to men
There is substantial interest in measuring not just the quantity of new jobs but the quality as well. Existing surveys by the Bureau of Labor Statistics describe the number of new jobs created each month, as well as wages of incumbent workers, but not wages (or other characteristics) of newly created jobs. This paper aims … Continue reading
Service Sector Basic Skills Gap in US – 62% of workers have limited literacy skills, and an even higher 74% have limited numeracy skills.
Across the United States, millions of men and women with limited reading, math, or digital problem-solving skills are holding down jobs across the service sector. Employed in retail shops and restaurants, hotels and hospitals, these workers not only help fuel the country’s economy — they keep daily life in America humming smoothly along. In the … Continue reading
Job Report in US, September 2017 – Employment down by 33,000 after hurricanes
The unemployment rate declined to 4.2 percent in September, and total nonfarm payroll employment changed little (-33,000), the U.S. Bureau of Labor Statistics reported today. A sharp employment decline in food services and drinking places and below-trend growth in some other industries likely reflected the impact of Hurricanes Irma and Harvey. Chosen excerpts by Job … Continue reading
Labor Force Participation in US – Has fallen more in areas where relatively more opioid pain medication is prescribed
The labor force participation rate in the U.S. has declined since 2007 primarily because of population aging and ongoing trends that preceded the Great Recession. The participation rate has evolved differently, and for different reasons, across demographic groups. A rise in school enrollment has largely offset declining participation for young workers since the 1990s. The … Continue reading
US – What reasons are given for nonparticipation in the labor force?
While a comprehensive explanation of labor force nonparticipation is outside the scope of this paper, we can gain some insight from self-reported reasons for being out of the labor force.2 In figure 3, we describe the reasons that prime-age men and women give for their nonparticipation. (The percentage in each category is out of the … Continue reading
August 2017 Job Report in US – Disappointing with total nonfarm payroll employment increased by 156,000
Total nonfarm payroll employment increased by 156,000 in August, and the unemployment rate was little changed at 4.4 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in manufacturing, construction, professional and technical services, health care, and mining. Household Survey Data In August, the unemployment rate, at 4.4 percent, and the number … Continue reading
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