Job Market Monitor
US
US – Unemployment Claims decrease to 280,000
In the week ending September 13, the advance figure for seasonally adjusted initial claims was 280,000, a decrease of 36,000 from the previous week’s revised level. The previous week’s level was revised up by 1,000 from 315,000 to 316,000. The 4-week moving average was 299,500, a decrease of 4,750 from the previous week’s revised average. … Continue reading
Wealth in US – Gains occurred only among households wealthier than the most wealthy 5%
Earlier this month the Federal Reserve reported that the minimum wealth needed to qualify for the wealthiest 5% of American households fell from 2010 to 2013. The decline in the cutoff indicates that wealth gains occurred only among households wealthier than the most wealthy 5%. The growth in the nation’s wealth from $55 trillion in … Continue reading
Wage Theft by Employers in US – At least $933 million in 2012 vs robberies ( including bank ) $341 million
Wage theft—employers’ failure to pay workers money they are legally entitled to—affects far more people than more well-known and feared forms of theft such as bank robberies, convenience store robberies, street and highway robberies, and gas station robberies. Employers steal billions of dollars from their employees each year by working them off the clock, by failing … Continue reading
The aftermath of the Great Recession in US – Historically terrible for the middle class
The Census Bureau has been tracking median household income since 1967. America has endured seven recessions since then. The first five of those recessions saw a similar pattern when they ended: By the fifth year of recovery, median incomes had risen. This was true even for the recession that ended in 1980 – when the … Continue reading
Monetary Policy in US, September 17, 2014 – There is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions
The Committee currently judges that there is sufficient underlying strength in the broader economy to support ongoing improvement in labor market conditions. In light of the cumulative progress toward maximum employment and the improvement in the outlook for labor market conditions since the inception of the current asset purchase program, the Committee decided to make … Continue reading
Skills Gap in US – Sixty-one percent say ‘Yes, it exists’ but ‘not me’!
Sixty-one percent of Americans believe that today’s workforce is plagued by a skills gap, but do not see themselves as part of the problem, according to new data released today. The Udemy Skills Gap Index, an independent survey commissioned by Udemy, the leading global marketplace for learning and teaching online, and conducted by ResearchNow, surveyed … Continue reading
UPS – To Hire up to 95,000 seasonal workers
UPS plans to hire up to 95,000 seasonal workers to help with package deliveries during the busy holiday season. The Atlanta company said Tuesday that the positions will include package sorters, loaders, delivery helpers and drivers. The company did not immediately say how the hiring compares with previous years. Last year, a last-minute surge in … Continue reading
Young US Scientists – Too few university jobs
In the United States, more than 40,000 temporary employees known as postdoctoral research fellows are doing science at a bargain price. And most postdocs are being trained for jobs that don’t actually exist. Academic institutions graduate an overabundance of biomedical Ph.D.s — and this imbalance is only getting worse, as research funding from the National … Continue reading
Deadliest Jobs in US – A good number are outdoors
A good number of the deadliest jobs in the US are done outdoors. Logging, fishing, farming, and construction are just a few of the jobs that are far more deadly than the national rate, of 3.2 deaths per 100,000 full-time-equivalent workers. [Below] are the 11 job categories with the highest fatal injury rates among all the … Continue reading
Job Search in US – It has changed in the aftermath of the Great Recession
The proportion of unemployed individuals who spent some time on an average day searching for a job increased from 20 percent to 24 percent after the recession. However, and perhaps surprisingly, among those unemployed who did search, the average time spent on job search looked very similar in the five years on either side of … Continue reading
US – Disentangling poverty and unemployment
Historically, the poverty rate has moved with the unemployment rate. Since 1970, in fact, the official poverty rate has spiked during each recession. Intuitively, this makes sense—if you lose your job, then you lose access to a steady stream of income. When you find a new job—as people are wont to do in the recovery … Continue reading
Displaced Workers in US – From January 2011 through December 2013, 4.3 million workers were displaced from jobs
From January 2011 through December 2013, 4.3 million workers were displaced from jobs they had held for at least 3 years, the U.S. Bureau of Labor Statistics… This was down from 6.1 million workers for the prior survey period covering January 2009 to December 2011. In January 2014, 61 percent of workers displaced from 2011 … Continue reading
US – Between 1979 and 2013, productivity grew 64.9 percent while hourly compensation of production and nonsupervisory workers grew just 8.0 percent.
The poor performance of American workers’ wages in recent decades—particularly their failure to grow at anywhere near the pace of overall productivity—is the country’s central economic challenge. Indeed, it’s hard to think of a more important economic development in recent decades. It is at the root of the large rise in overall income inequality that … Continue reading
US Demography – Half of Americans single
Single Americans make up more than half of the adult population for the first time since the government began compiling such statistics in 1976. Some 124.6 million Americans were single in August, 50.2 percent of those who were 16 years or older, according to data used by the Bureau of Labor Statistics in its monthly … Continue reading
Unemployment Insurance in US – 1.4 Million foreclosures avoided
An updated tally by Moody’s Analytics shows that 6.5 million homeowners have lost their homes in the housing bust so far. And for most of them, the proximate cause of foreclosure was unemployment. Losing a job meant losing the income to pay the mortgage, while depressed house values meant that struggling homeowners could not tap … Continue reading
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