Job Market Monitor
US
Millennials in US – More numerous than the baby boomers
Millennials, or America’s youth born between 1982 and 2000, now number 83.1 million and represent more than one quarter of the nation’s population. Their size exceeds that of the 75.4 million baby boomers, according to new U.S. Census Bureau estimates released today. Overall, millennials are more diverse than the generations that preceded them, with 44.2 … Continue reading
Labor Force Participation in US – A rare country experiencing a recent decline
The U.S. labor market has changed drastically over the past 50 years. As the following figure shows, the U.S. labor force participation rate1 rapidly increased starting in the mid-1960s, peaked around 2000 and fell substantially afterward. This trend is the result of many forces, some of them in opposition to each other. For example, male … Continue reading
Jobless Claims in US – The lowest level in history when adjusted for the size of the labor force
Bottom Line: Jobless claims, when adjusted to account for the size of the US labor force, have now fallen to the lowest level in history. Conditions in today’s labor market are actually slightly better than the unadjusted claims would suggest, especially when compared to previous economic recoveries. It’s amazing that so much attention is paid … Continue reading
High School Dropout in US – since 1972, event dropout rates have trended downward, from 6.1 percent in 1972 to 3.4 percent in 2012
Dropping out of high school is related to a number of negative outcomes. For example, the median income of persons ages 18 through 67 who had not completed high school was roughly $25,000 in 2012. By comparison, the median income of persons ages 18 through 67 who completed their education with at least a high … Continue reading
Working Poors in US – About 10 percent of working households are poor
A new study by sociologists at BYU, Cornell and LSU provides a rigorous new estimate. Their work suggests about 10 percent of working households are poor. Additionally, households led by women, minorities or individuals with low education are more likely to be poor, but employed. BYU professor Scott Sanders says the findings dispel the notion … Continue reading
Low Wages in US – Raises would boost overall productivity growth, with likely minimal effect on employment
As the United States emerges from the Great Recession, concern is rising nationally over the issues of income inequality, stagnation of workers’ wages, and especially the struggles of lower-skilled workers at the -bottom end of the wage scale. While Washington deliberates legislation raising the minimum wage, a number of major American employers—for example, Aetna and … Continue reading
Involuntary Part-Time Work in US – May remain significantly above its pre-recession level FRBSF finds
The incidence of involuntary part-time work surged during the Great Recession and has stayed unusually high during the recovery. This may reflect more labor market slack than is captured by the unemployment rate alone. Analysis across states and over time indicates that a substantial part of the increase is related to the business cycle. However, … Continue reading
The Distribution of Household Income in US – 3 Graphs by CBO
The Distribution of Household Income, Federal Taxes, and Government Spending | Congressional Budget Office.
State and Local Government in US – 73 percent hiring
For the second year in a row, state and local governments are hiring. In a survey of state and local government human resources managers, 73 percent reported hiring employees in the past year (up from 66 percent in last year’s survey), and 54 percent hired more people than they did in 2013. At the same … Continue reading
Persons with a Disability in US – 17.1 percent were employed vs 64.6 percent for those without
In 2014, 17.1 percent of persons with a disability were employed, the U.S. Bureau of Labor Statistics reported today. In contrast, the employment-population ratio for those without a disability was 64.6 percent. The ratio for persons with a disability declined by 0.5 percentage point from 2013 to 2014, while the ratio for those with no disability increased by 0.6 … Continue reading
US – Import competition from China reduces manufacturing employment St-Louis Fed finds
In theory, trade is good. In practice, considerable debate exists on whether importing foreign goods has an adverse effect on the domestic economy (and on the labor market in particular). The impact of this effect depends on whether foreign goods compete with or complement local production. For example, if imported computers can easily substitute for … Continue reading
Lawyers in US – Side work on the rise
While the pace of hiring has slowed for full-time, salaried lawyers, the numbers of lawyers who do legal work on the side while holding down other jobs is growing rapidly. Nationwide, EMSI estimates jobs for those who draw miscellaneous income as lawyers (income that isn’t derived from their primary job) have grown 25% since 2009 … Continue reading
Internship in US – 70.8 Percent of employers want to convert students into full-time, entry-level employees survey finds
Key findings PROGRAM STRUCTURE Nearly all respondents to this survey had a formal internship program (92.0 percent). Less than half had a co-op program (45.1 percent). The primary focus of most employers’ internship and co-op programs is to convert students into full-time, entry-level employees (70.8 percent and 62.6 percent, respectively). Very few employers required their … Continue reading
Contingent Workforce in US – More likely to have no high school degree and have low family income.
The size of the contingent workforce as a proportion of the total U.S. employed labor force can range widely, depending on how it is defined. Narrower definitions generally focus on employment that is temporary, and can result in estimates of less than 5 percent. Broader definitions include various employment arrangements, such as on-call, part-time, and … Continue reading
Temporary Help Employment in US – Accounts for a large share of gross job losses and job gains
The temporary help industry accounts for about 2 percent of average daily employment in the U.S. economy but plays an outsized role in workforce adjustment during recessions and recoveries. During the last recession, the largest since the Great Depression of the 1930s, employment in the temporary help industry contracted by 30 percent and accounted for … Continue reading
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