Commentary It was good, or at least fascinating, while it lasted. The labor shortage is ending. In the entirety of the post-lockdown period, labor markets have been behaving strangely. We’ve seen incredibly low unemployment numbers (3.6 percent) that everyone has known do not tell the whole story. That figure only calculates people in the market…
Say Goodbye to the Labor Shortage
October 5, 2022
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Business & MarketsBusiness Columnistsinflationjob creationjob marketlabor participationlabor shortagerecessionU.S. economyunemployment rate
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Government Responsible for Over 80 Percent of New Jobs Since Pandemic Started, Study Finds
The government is responsible for over 80 percent of new jobs created in Canada since the pandemic started in early 2020, according to a recent think-tank study. In an August bulletin, the Fraser Institute compared net job growth between Canada’s public and private sectors and found that the public—or government—sector has accounted for nearly 87…
Continuing Unemployment Claims Rise to Highest in Five Months, as Initial Claims Fall
September 1, 2022
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Business & MarketsCompanieseconomyFederal Reserveinflationjob marketpersonal financeUnemployment ClaimsUS
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Americans filing continued unemployment claims rose to their highest level in five months, while initial jobless claims fell to their lowest level since June, according to the Labor Department on Sept, 1. Continuing claims, which run a week behind jobless claims data, rose to 1.44 million on Aug. 20, up 26,000 from the previous week, to levels…
Exploring the US Labor Shortage and Unemployment
August 23, 2022
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Business & MarketsBusiness ColumnistsBusinesses in COVID-19job marketlabor shortageOpinionThinking About ChinaunemploymentViewpoints
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Commentary Businesses across the United States report that they find it hard to find staff and that vacancies are going unfilled. Meanwhile, companies are making cuts, and unemployment is expected to rise. In 2021, more than 47 million workers quit their jobs, considerably more than the 42 million in 2019. Some of these resignations were…
China’s Youth Face Bleak Job Market as COVID-19 Slows Economy
BEIJING—Liu Qian, job-hunting with a new master’s degree, said two employers interviewed her and then said the positions had been eliminated. Others asked her to take lower pay. She is one of 11 million new graduates desperate for work in a bleak job market as anti-virus controls force factories, restaurants, and other employers to close….
Walmart Laying Off Corporate Employees in Sign of Slowing Job Market
Retail giant Walmart announced corporate layoffs this week, suggesting that the labor market could be slowing down as fears of a recession mount. “We’re updating our structure and evolving select roles to provide clarity and better position the company for a strong future,” a company spokesperson told FOX Business in a statement. The retailer noted, however, that…
In Japan, Jobs Outnumber Workers Due to Aging Population and Shrinking Birth Rates: Researchers
Japan’s job availability ratio increased for the sixth consecutive month in June, indicating an increase in hiring across industries, according to data released on Friday. The jobs-to-applicants ratio climbed to 1.27 from the previous month, indicating that there were 127 job openings for every 100 job seekers in Japan, The Mainichi reported, citing data from…
Texas Cities Dominate Job Market Index: LaborIQ
July 21, 2022
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Business & Marketseconomyjob marketLocal Newsmoving to texaspopulation growthRegional-Local NewsTexasUS
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Texas is showcasing a stronger performance in the labor market when compared to the nation overall, according to a report by labor market analytics platform LaborIQ by ThinkWhy. The “total annual voluntary quits rate” in Texas, at present, stands at 36.2 percent, which is higher than the national level of 33.8 percent, the most recent…
As Payrolls Grow, Fewer Americans Are Working: Data Paradox
Company payrolls have expanded in recent months, but the number of employed Americans has declined. The paradoxical results stem from the findings of two different government surveys and could indicate that U.S. job growth has been somewhat weaker than it appeared. Non-farm companies added over 1.1 million employees in April, May, and June, according to…
The Disappearing American?
Commentary “Help wanted” and “Now hiring” signs are everywhere. Flights, construction projects, and healthcare services are delayed—or unavailable—due to labor shortages. Hourly and monthly wages spiral. There is a growing disequilibrium between the number of available jobs and the declining pool of workers needed to fill them. What is going on? During the nearly two-year-long…
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