Job Market Monitor
US
Youth in US – The employment rate for teens fell from 43 percent in 2000 to 26 percent in 2014. Why ?
The employment rate for teens fell from 43 percent in 2000 to 26 percent in 2014, and for young adults aged 20 to 24, it fell from 70 to 62 percent. These are big drops. In a new analysis, I take a deeper look at employment trends among young people. When employment rates are broken … Continue reading
Job Prospects in US – Fast-growing industries over the next five years
Whether you’re a college student deciding on a major or a working professional looking for a career change, new findings may shed light on which direction to go in. CareerBuilder just released a list of fast-growing industries with ample job prospects over the next five years. The study is based on data from Emsi, CareerBuilder’s … Continue reading
Job Report in US, May 2016 – The number looks ugly : 38,000 nonfarm payroll employment
The unemployment rate declined by 0.3 percentage point to 4.7 percent in May, and confirm payroll employment changed little (+38,000), the U.S. Bureau of Labor Statistics reported today. Employment increased in health care. Mining continued to lose jobs, and employment in information decreased due to a strike. Household Survey Data In May, the unemployment rate declined by 0.3 … Continue reading
College in US – Of the 1,027 private colleges studied, 761 have graduation rates of less than 67 percent
But while, on average, college graduates have lower unemployment rates, earn higher wages and even have longer-lasting marriages, there’s less discussion of the many students lost between enrollment and graduation. The challenges can be greatest for the 7.2 million students who need federal loans to attend college. According to a new report by Third Way, … Continue reading
NEETs in US – Three million young people are “disconnected”
Three million young people are neither in school nor working, finds a report released today by the Brookings Metropolitan Policy Program. These “disconnected youth” are primarily people of color. In some metros, black and Latino youth are up to six times more likely to be disconnected than young whites. The report, “Employment and disconnection among … Continue reading
Infrastructure in US – Nearly 3 million infrastructure jobs will become vacant over the next decade
The need to invest in roads, rails, ports, power plants, and water facilities has emerged as a theme of Infrastructure Week 2016, particularly when it comes to the call for regional leadership and collaboration alongside federal efforts. Across all types of infrastructure, public and private leaders are looking to fill a growing investment gap across … Continue reading
Infrastructure Investment in US – A prominent role in the labor market
As the U.S. labor market continues to gain momentum, concerns over wage stagnation and income inequality persist, especially at a regional level. In response, many public, private, and civic leaders across a variety of metropolitan areas are forging new collaborations and launching innovative strategies to support greater economic opportunity. Infrastructure investment represents a key priority … Continue reading
Skills Gap in US – Widening ?
Something isn’t clicking in the US labor market. On Tuesday, the latest “Job Openings and Labor Turnover Survey” (JOLTS) showed there were 5.757 million jobs available in the US in March — a near record. Additionally, the number of unemployed people in the US per job open is down to prerecession levels at about 1.5 … Continue reading
Career and Technical Education (CTE) in US – The more courses students take, the better their education and labor market outcomes
Until the late 1990s, “vocational education” in traditional trades such as carpentry, cosmetology, and auto mechanics was often the presumptive high school placement for low-performing students considered ill-suited for college. However, in the past two decades, policymakers and educators have reconsidered what is now referred to as “Career and Technical Education” (CTE). Done right, secondary … Continue reading
International Comparaison of Skills in US – Not measurably different in literacy, but more unequal, below in numeracy and problem solving according to PIAAC
In literacy, the U.S. average score (272) was not measurably different than the PIAAC international average score (273) (see figure 1-A). Compared with the PIAAC international average distribution of literacy skills, the United States had a larger percentage of adults performing at both the top and the bottom of the distribution (13 versus 12 percent … Continue reading
Jobless Claims in US (week ended April 9) – The lowest since 1973
The number of Americans filing for unemployment benefits unexpectedly fell last week, revisiting a level last seen in 1973 as the labor market continues to strengthen despite a sluggish economy. Initial claims for state unemployment benefits decreased 13,000 to a seasonally adjusted 253,000 for the week ended April 9, the Labor Department said on Thursday. … Continue reading
Social Security and Life-Expectancy Gap in US – Benefits that men earning $20,000 or $80,000 could expect to receive
A study led by Stanford University economist Raj Chetty, showed that life expectancy differed for the top 1% and bottom 1% of the income distribution by 15 years for men and by 10 years for women. Now, a new study from the Government Accountability Office shows the dramatic effect this is having on Social Security. To show the effect of … Continue reading
Technical Change and Early Retirement in US – Once a certain degree has been reached, the probability to retire early decreases again
In a new research paper published in the IZA Journal of Labor Policy, Lorenzo Burlon (Bank of Italy and IZA) and Montserrat Vilalta-Bufí (University of Barcelona) reexamine the effect of technical progress on early retirement in the US. They find that technical progress affects early retirement in two opposing ways. On the one hand, it … Continue reading
US – Extension of unemployment benefits has no significant effect on the unemployment rate research finds
Gabriel Chodorow-Reich of Harvard University and Loukas Karabarbounis of the University of Chicago find that the extension of unemployment benefits from 26 to 99 weeks during the Great Recession increased the unemployment rate by at most 0.3 percentage point. In addition, they find little effect of jobless benefit extensions on state-level macroeconomic variables such as vacancies … Continue reading
Immigration to United States – At a numerical high, reaching 42.4 million people in 2014
What is the size of the overall immigrant population, and how does its share of the total U.S. population compare with earlier eras? How many people immigrate to the United States? How many become U.S. citizens? What is the size of the unauthorized population? What jobs do immigrants hold? How do today’s top source countries … Continue reading
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