Productivity, “reindustrialisation” and the US profit share
US industrial production has grown at least twice as fast as GDP since the start of the recovery. “Onshoring” work because wage differentials are narrowing plus falling electricity prices because of...
View ArticleCharts du jour, labour force participation kill the old edition
Self-explanatory, and they come via RBC Capital Markets:Continue reading: Charts du jour, labour force participation kill the old edition
View ArticleOkay, we get it, BIS: fiscal policy is not your thing
The Bank for International Settlements says there’s a problem. Governments, by and large, haven’t done enough to address the issues that have emerged during/since the financial crisis. Some monetary...
View ArticleJobs of the future and the gender-norm challenge
Women hold about 60 per cent of the total jobs in the thirty occupations projected by the US Bureau of Labor Statistics to have the most net job growth in the decade through 2022. That figure was...
View ArticleDavid Autor’s guide to labour and the machine
David Autor chooses a surprising quote for the start of his latest paper on automation and jobs: In 1966, the philosopher Michael Polanyi observed, “We can know more than we can tell… The skill of a...
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FOMC vs the cruel, cruel summer
This morning’s Personal Income & Outlays report revealed the third consecutive monthly decline in core and headline PCE PI inflation (though August), both now just below 1.5 per cent: Continue...
View ArticleCanada’s September comeback?
Last month, we wondered whether Canada’s anemic job growth, which was mostly being driven by the growth of the part-time labour force, was a cause for worry. While the latest data more than offset...
View ArticleCanadian job market still outshining the US
On the surface, the latest Canadian jobs data are mildly disappointing: a slight reduction in the number of people working in December relative to November, which was more than offset by a decline in...
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Is a college degree more important than it used to be?
We recently had the chance to attend a fascinating presentation given by Erik Hurst at the Booth economic outlook in New York. He discussed the divergent employment outcomes of those with college...
View ArticleWhere the US added jobs
We want to share a few highlights of the new state-level data on employment and unemployment from the US Bureau of Labor Statistics. Our first chart compares the growth rate in the number of workers by...
View ArticleThe changing geography of US employment
In a previous post we looked at which US states were the best for job growth in 2014. (North Dakota was best overall, followed closely by Utah, which has the advantage of not being reliant on energy...
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UK job market update
Unlike every other country in the rich world, Britain’s job market has been on fire for years, with employment and hours worked soaring at the fastest rate in decades: Continue reading: UK job market...
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