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US Workforce Investment Act (WIA) – Positive earnings and employment effects for the adult funding stream and mostly negative estimates for the dislocated worker stream research finds
Our examination of the impacts of receiving WIA training rather than solely core and/or intensive services in two anonymous states has yielded a wealth of important findings both substantive and methodological. We find differences in probabilities of training receipt as a function of race, age and education. Substantial unconditional differences by race largely, but not … Continue reading
US – A majority of workers have new jobs since the end of the recession
Now here is an important fact: the median number of years that current wage and salary workers have been with their current employer is about four and a half. In other words, more than half of current workers have jobs that are new since the end of the recession. A majority of workers have new jobs, some … Continue reading
Participation in US – Ongoing structural influences with some crowding out of job opportunities for young workers research finds
The evidence we present in this paper suggests that much of the steep decline in the labor force participation rate since 2007 owes to ongoing structural influences that are pushing down the participation rate rather than a pronounced cyclical weakness related to potential jobseekers’ discouragement about the weak state of the labor market – in … Continue reading
Freelancers in US – 53 million or 34% of the population
According to a survey released this week by the Freelancers Union together with freelance platform Elance-oDesk, 53 million Americans, or 34% of the population, qualify as freelancers. Not all of them make their living exclusively as freelancers. The number includes 14.3 million workers who would be called “moonlighters”—people who have a primary, traditional job that … Continue reading
The Job Gap in US – 5.6 million jobs as of August 2014 finds The Hamilton Project
Each month, The Hamilton Project calculates America’s “jobs gap,” or the number of jobs that the U.S. economy needs to create in order to return to pre-recession employment levels while absorbing the people who newly enter the labor force each month. As of the end of August 2014, our nation faces a jobs gap of … Continue reading
US – Employers are not hiring , they squeeze
As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading
Demographics in US – Prime working-age population growing again
Changes in demographics are an important determinant of economic growth, and although most people focus on the aging of the “baby boomer” generation, the movement of younger cohorts into the prime working age is another key story in coming years. Here is a graph of the prime working age population (this is population, not the … Continue reading
Beveridge Curve “Shift” in US – There is no shift to begin with says Federal Reserve Bank of Cleveland
Observers have followed the Beveridge curve during the recession and the recovery to glean some insight into potential structural changes in the labor market. Whether or not a shift implies an actual structural change—specifically, a decline in the matching efficiency of the labor market—is still debatable. However, one thing is clear: there is no shift … Continue reading
A Degree in US – Was worth $272,693, on average, in 2013 study finds
A study released on Tuesday by two researchers with the Federal Reserve Bank of New York concludes the opposite is true: The value of a bachelor’s degree is near an all-time high. The researchers, Jaison R. Abel and Richard Deitz, found that despite some “alarming trends,” a bachelor’s degree for a 2013 graduate was worth $272,693, … Continue reading
US by State – The unemployment rate before and after the great recession
Even before the recession, there was a huge range in unemployment rates among states. Most of the dozen states that have seen their unemployment rates fall since before the recession have benefited from the recent boom in the oil and gas business. Many of the states where the unemployment rate is much higher than it … Continue reading
US Job Report for August 2014 – A disappointing employment increase of 142,000
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, both the unemployment rate (6.1 percent) and the number of unemployed … Continue reading
US – Employability makes unemployment to trickles down to lower-skilled workers research finds
Unemployment “trickles down” to America’s poorest and most vulnerable because, during recessions, higher-income workers with more education take jobs that are below their qualification level, according to new research. Such underemployment, in turn, leaves fewer job openings for which the so-called lower-skilled workers are qualified. “Some high-skill workers move down the occupational ladder in order … Continue reading
Europe’s Job Market vs US – Doing better
Compare unemployment rates, and America’s job market looks much stronger than Europe’s. The U.S. rate for August, being released Friday, is expected to be a near-normal 6.1 percent. In the 18 countries that use the euro currency, by contrast, it’s a collective 11.5 percent. Yet by some measures, Europe is doing better. It’s been more … Continue reading
The Middle Class in US – Wealth fell 35 percent from 2005 to 2011
A new US Census Bureau report shows that the median household’s net worth fell from $106,591 to $68,839 from 2005 to 2011: Chosen excerpts by Job Market Monitor. Read the whole story at Middle class households’ wealth fell 35 percent from 2005 to 2011 – Vox.
US Labor Secretary on Long-Term Unemployed – It keeps me up at night because their stories are so compelling
Perez said the plight of the long-term unemployed – or those without work for at least 27 weeks — is the one issue that has caused him to lose sleep. He has met with many such workers since becoming Labor Secretary about a year ago. “It keeps me up at night because their stories are … Continue reading
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