Job Market Monitor
Workers
COVID-19 Impacts on Workers in US – Households with income less than $25,000 were 3.5 times as likely to report missing an entire week of work
Household Pulse Survey (HPS) data reveal stark inequities in COVID-19-related outcomes by income. Among working-aged Americans, those with 2019 household incomes less than $25,000 were 3.5 times as likely to report missing an entire week of work mainly due to their own or loved ones’ COVID-19 symptoms, relative to those earning $100,000 or more (Figure). … Continue reading
COVID and Workers – The impact is not the same for all types of workers
The world economy is enduring a staggering downturn amidst the spread of COVID-19. Individuals are already suffering immediate losses in terms of income and employment. Economists have been quick to call for governments to take strong coordinated actions (e.g. Baldwin 2020, Bénassy-Quéré et al. 2020). Early survey data suggests that uncertainty for businesses has heightened … Continue reading
Labor Day in US – How the working man and woman are treated
According to U.S. government data, in the past 12 months the working people of America have received about the smallest share of national economic output since at least World War II. When you adjust for inflation, real median household income is down about 10% since the start of the millennium and is now lower than … Continue reading
China’s supplier to Adidas and Nike – The strike spreads
A strike at a Chinese factory that manufactures shoes for Adidas and Nike has spread to a sister factory in a neighbouring province, as thousands of workers gathered to protest against what they said were unfair pay and benefits. About 2,000 workers clocked in on Monday, but did not work, at the Yue Yuen factory … Continue reading
US / Was NAFTA good for workers ?
The North American Free Trade Agreement (NATFA) was the door through which American workers were shoved into the neoliberal global labor market. By establishing the principle that U.S. corporations could relocate production elsewhere and sell back into the United States, NAFTA undercut the bargaining power of American workers, which had driven the expansion of the … Continue reading
China in Picture / Working in a mine
Chosen excerpts by Job Market Monitor China’s Coal Mines [Photos] – Business Insider.
China / Govt workers least satisfied
Government employees in China are the unhappiest with their job compared to their compatriots in other industries, according to a survey conducted by the Institute of Psychology under the Chinese Academy of Sciences and the recruitment website zhaopin.com. Among 9,072 respondents surveyed, government employees rank the last in 12 industries in terms of self-satisfaction, with … Continue reading
(Update3) Bangladesh Garment Factory Collapsed Building / death toll 1,127 and garment workers allowed to form trade unions
Nearly three weeks after a Bangladesh garment-factory building collapsed, the search for the dead ended Monday at the site of the worst disaster in the history of the global garment industry. The death toll: 1,127. The collapse of the Rana Plaza building focused worldwide attention on the hazardous conditions in Bangladesh’s low-cost garment industry and … Continue reading
US / Corporate Profits Doing Gooog, Not Workers
With the Dow Jones industrial average flirting with a record high, the split between American workers and the companies that employ them is widening and could worsen in the next few months as federal budget cuts take hold. That gulf helps explain why stock markets are thriving even as the economy is barely growing and … Continue reading
Spain / Thousands of striking Iberia workers protest layoffs
Thousands of striking workers of Spanish flag-carrier Iberia protested noisily in Madrid Wednesday, furious at management’s plans to cut 3,800 jobs following its merger with British Airways. To the din of horns and smoking firecrackers, workers massed outside the company’s headquarters, waving red and yellow Spanish flags and signs such as “Get your dirty hands … Continue reading
Laid offs lose nearly 2.8 years of income over the rest of their working lives
Even in relative good times, laid-off workers take a huge financial hit as a result of their involuntary job losses. In a recent study, scholars at the University of Chicago and Columbia University found that men ages 50 and under who were laid off when the nation’s unemployment rate stood below 6 percent could expect … Continue reading
Workers with no benefit, less-educated struggling and the rich disconnected
“The U.S. economy is still a powerful engine, but workers aren’t seeing the benefits, less-educated men are struggling, and the rich have disconnected from everyone else” writes Jonathan Rauch. (Choosen excerpts by Job Market Monitor to follow) If the American economy were an automobile, you would say the transmission is failing. The engine works, but not all … Continue reading
UK / Exchanging workers’ rights for shares: Employers reject George Osborne’s plan
George Osborne has been given a black eye on the eve of his autumn statement by employers almost universally rejecting his plan to offer workers company shares in return for abandoning many of their employment rights. The chancellor plans to announce on Wednesday that he will press ahead with the proposal, with some small adjustments. … Continue reading
Almost three in four workers worrying during every weekend
Almost three in four workers lose more than three hours every weekend worrying about work, a survey suggests. A study of 2,000 British adults, conducted by Populus, showed the biggest worriers were aged between 25 and 34 and lost more than four hours a weekend worrying. Employees in London are the most likely across Britain … Continue reading
The consequences of job loss for workers
When workers get laid off, they typically pay a large economic price. This is true even for those lucky enough to find a new job, because most tend to earn wages substantially lower than what they earned previously. The figure below, from The State of Working America, 12th Edition, shows the average weekly earnings loss of … Continue reading
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