Knoema.com - Unemployment http://knoema.de 2024-01-25T13:53:12Z /favicon.png Knoema ist ihre persönliche Wissensdatenbank US Unemployment Forecast 2021-2026 | Data and Charts //knoema.de/ennihcf/us-unemployment-forecast-2021-2026-data-and-charts 2024-01-25T13:53:12Z Alex Kulikov knoema.de://knoema.de/user/1847910
US Unemployment Forecast 2021-2026 | Data and Charts

(14 June 2021) In 2020, the US unemployment rate averaged 8.1%, the highest annual rate since 2012. In January and February of last year, the unemployment rate in the United States stood at a 50-year low of 3.5%, but unemployment soared to 14.7% in April 2020 due to mass layoffs resulting from the COVID-19 pandemic. US unemployment declined steadily in the second half of last year and has continued a gradual downward trend this spring. In May 2021 it reached 5.8%, which is 56% lower than the year before and equals the unemployment level of 2014. Here are the US unemployment rate projections from the four leading sources:According to the economic projections of the Federal Reserve, the unemployment rate in the US will average at 4.5% by the end of 2021 and pursue its fall in 2022 and 2023, reaching  3.8% and 3.5% levels correspondingly.The International Monetary Fund (IMF) projects that the unemployment rate will decrease to 5.8% in 2021 and continue to fall in the following two years, hitting the pre-pandemic level of 3.7% in 2023.The Organization for Economic Cooperation and Development (OECD) in its current Economic Outlook expects the rate of unemployment to drop to 5.6% in 2021 and then remain on a downward trend, falling to 4.3% by 2022.The European Commission in its spring Economic Forecast projects that the US unemployment rate will decline to 4.6% in 2021, and then to 3.4% in 2022, dropping below the unemployment rate before the pandemic. For analysis of other G20 economies, select a country page: US | Canada | Mexico | France | Germany | UK | Italy | Brazil | Argentina | Turkey | Australia | China | India | Japan | South Korea | Indonesia | Russia | South Africa | Saudi Arabia | EU | Euro Area Or, select an economic indicator: GDP Forecast | Inflation Forecast | Unemployment Forecast | Current Account Balance Forecast | Government Debt Forecast

Alex Kulikov knoema.de://knoema.de/user/1847910
India Unemployment rate //knoema.de/qamqekg/india-unemployment-rate 2023-08-21T08:49:43Z Balaji S knoema.de://knoema.de/user/1000220
India Unemployment rate

Balaji S knoema.de://knoema.de/user/1000220
Unemployment rate in Egypt //knoema.de/syefved/unemployment-rate-in-egypt 2023-07-25T14:39:51Z Balaji S knoema.de://knoema.de/user/1000220
Unemployment rate in Egypt

Balaji S knoema.de://knoema.de/user/1000220
Unemployment Rate by Country 2022 | Data and Charts //knoema.de/blizore/unemployment-rate-by-country-2022-data-and-charts 2022-11-03T12:18:45Z Misha Gusev knoema.de://knoema.de/user/1000140
Unemployment Rate by Country 2022 | Data and Charts

List of countries by unemployment rate in 2019 presented on this page is based on estimates from the International Labor Organization (ILO) - the leading source of worldwide labor statistics. The data is harmonized to account for differences in national data and scope of coverage, methodologies and other country-specific factors which increases the comparability across countries. Countries with the highest unemployment rate in the world in 2019 are four southern African countries: South Africa, Lesotho, Namibia, and Eswatini, two southeastern European countries: North Macedonia and Bosnia and Herzegovina, and two southern Caribbean islands: Saint Lucia and Saint Vincent and Grenadines. The unemployment rate is the share of people of working age without work but who desire and are able to work and actively seeking it. It is measured as a percent of unemployed in the total labor force of a country. The unemployment rate is one of the three fundamental macroeconomic indicators along with GDP and inflation. Declining unemployment rate indicates that companies' demand for labor force increases meaning they expand and produce more goods and services contributing to the GDP growth. The tight labor market, in turn, makes it more difficult to hire and places upward pressure on wages which means higher costs and higher overall inflation. While annual data on the unemployment rate for most world countries can be obtained from ILO, the latest quarterly and monthly statistics (with less broad country coverage though) are available in datasets from IMF, OECD, and Eurostat.

Misha Gusev knoema.de://knoema.de/user/1000140
Eurozone: Tightening Labor Market Puts Pressure on Inflation //knoema.de/snnmxl/eurozone-tightening-labor-market-puts-pressure-on-inflation 2022-01-26T09:20:53Z Nematullah Khan knoema.de://knoema.de/user/1975840
Eurozone: Tightening Labor Market Puts Pressure on Inflation

(14 January 2022) Labor market conditions in the eurozone (EA19) — the E.U. member countries that use a shared single currency, the euro — improved in November, as unemployment fell to a record low since the COVID-19 pandemic started in March 2020. (December 2021 unemployment data will be released in February.) The eurozone registered a decline of 222,000 in the number of unemployed people in November compared to October, with the total down to 11.8 million. The unemployment rate fell from 7.3% to 7.2% for the same period. The lowest unemployment rates were registered by the Netherlands, 2.7%, and Germany, 3.2%. The highest unemployment rates in the eurozone were observed in Spain, 14.1%, and Greece, 13.4%.Amid the tightening labor market and increasing labor costs, consumer price inflation in Europe hit the highest level in more than two decades. In November 2021, the annual rate of CPI inflation accelerated to 4.9%, and core inflation (the overall index excluding energy, food, alcohol and tobacco) jumped to 2.6%. The furlough programs in place, which have limited the pandemic's impact on the labor market, and strong demand for labor will likely help to improve the market in coming months. However, the rise in new variants such as Omicron may have negative impact on the labor market and the economy.

Nematullah Khan knoema.de://knoema.de/user/1975840
Indonesia Short Term Economic Profile: Prices and Unemployment //knoema.de/mjaekdc/indonesia-short-term-economic-profile-prices-and-unemployment 2021-05-14T12:15:10Z Alex Kulikov knoema.de://knoema.de/user/1847910
Indonesia Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Traditional vs Alternative Data: Which has the Better Measure of the US Labor Market? //knoema.de/tfghnhg/traditional-vs-alternative-data-which-has-the-better-measure-of-the-us-labor-market 2021-04-22T16:22:33Z Misha Gusev knoema.de://knoema.de/user/1000560
Traditional vs Alternative Data: Which has the Better Measure of the US Labor Market?

(12 June 2020) When the US Bureau of Labor Statistics released its May 2020 employment report some analysts claimed that data on initial unemployment insurance claims was wrong because it contradicted the official unemployment figures where there were broad gains in employment across industries. Higher frequency data, including mobility trends and small business openings, also pointed to labor market recovery. There's little doubt that high frequency alternative indicators offer important, maybe even critical depth and color as we try to understanding modern market behavior and economies, but alt data is not a panacea. It is part of the mosaic of data increasingly relied on by analysts and weighted according to the relevant time horizon and methodological approach.A couple of months ago we demonstrated how so-called alternative data had warned about the COVID-19 induced recession in early March while traditional leading economic indicators were still predicting growth would accelerate, making a strong case for wrapping alternative data into the sphere of leading economic indicators.At the same time, even with the growth in availability of certain high frequency indicators as foot traffic, mobility, container ships, web traffic, credit and debit card spending, analysts must address fundamental questions around reliability and availability. Below we share what a few sample high frequency labor market and mobility indicators tell us about the current US labor market.

Misha Gusev knoema.de://knoema.de/user/1000560
OECD Forecasts: COVID-19 Economic Outlooks are Dire Worldwide //knoema.de/ydeilgc/oecd-forecasts-covid-19-economic-outlooks-are-dire-worldwide 2020-12-03T12:25:40Z Nematullah Khan knoema.de://knoema.de/user/1975840
OECD Forecasts: COVID-19 Economic Outlooks are Dire Worldwide

(15 June 2020) With 'uncertain' being the best anyone can say of the trajectory of COVID-19 globally, the OECD has attempted to delve into what the future may hold for the global economy, using two scenarios: single hit and double hit.  One critical, overarching finding of the scenario-based OECD forecasts is that the economic recovery will be “U-shaped” as opposed to the more popularly expected “V-shaped” recovery, with the time period at the bottom of the “U” varying significantly across economies.   Single-Hit Scenario: Outbreak contained during 2020 The global economy will likely contract 6% in 2020 under the single-hit scenario, returning to the pre-crisis level of 5.2% in 2021. The UK’s economy is expected to slump 11.5% in 2020, the deepest contraction among developed countries, a figure reflective of the economy’s significant dependence on receipts from the service and tourist sectors. France is close behind at 11.4%, followed by Italy (11.3%), Spain (11.1%) and Germany (6.6%). GDP growth in the United States is expected to contract by 7.3% in 2020 in this scenario, fairing better than Russia—hit hard by lower energy prices—at 8 percent. Two Asian economic giants, China and India are expected to decline 2.6% and 3.7%, rebounding to 6.8% and 7.9% in 2021. Latin American emerging markets are expected to take much deeper hits comparatively: Argentina is expected to decline 8.35% while Brazil and Mexico are expected to shrink 7.4% and 7.5%, respectively. The OECD also delved into the employment consequences within each scenario. Here, too, we see a high level of divergence across economies. While Japan is estimated at 3.2% unemployment rate in 2020 from 2.4% in 2019, the United Kingdom and the United States will not escape so easily, increasing from 3.8% in 2019 to 9% in 2020 in the United Kingdom and from 3.7% to 11.3% in the United States.   Double-Hit Scenario: A second outbreak during 2020 Under a double-hit scenario, the OECD projects that the global economy could contract 7.6% before recovering to only 2.8% in 2021.If a second wave of COVID-19 strikes in 2020, Spain’s economy is expected to take the biggest hit with a 14.36% contraction, followed by France (14.07%), Italy (14.01%), and the United Kingdom (13.96%).Moreover, GDP growth in the United States is expected to contract by 8.5% in double-hit scenario. Unemployment rates jump to double digits for more economies in the double-hit scenario and deepen still more for some countries already facing a bleak outlook in the single-hit scenario. For example, France, Spain, Italy, and the United Kingdom all jump from the 11% range to the 14% range between scenarios.

Nematullah Khan knoema.de://knoema.de/user/1975840
Unemployment in the United States. Regional Breakdown //knoema.de/vasbrhf/unemployment-in-the-united-states-regional-breakdown 2020-10-13T04:05:59Z Misha Gusev knoema.de://knoema.de/user/1000560
Unemployment in the United States. Regional Breakdown

More than four years in a row (2009-2012) unemployment in the US exceeded 8%. After the unemployment rate reached its peak of 10% in October 2009, it decreased by 5 percentage points so far and stayed at 5% in March 2016. Unemployment in California, which accounts for about 13% of total US GDP, is 5.5%.

Misha Gusev knoema.de://knoema.de/user/1000560
Unemployment Rate in India //knoema.de/kjlwzdc/unemployment-rate-in-india 2020-06-24T15:49:06Z Balaji S knoema.de://knoema.de/user/1000220
Unemployment Rate in India

Balaji S knoema.de://knoema.de/user/1000220
United States: Who Really Made a Mistake on the US Employment Figures? //knoema.de/wktjedf/united-states-who-really-made-a-mistake-on-the-us-employment-figures 2020-06-12T19:39:09Z Misha Gusev knoema.de://knoema.de/user/1000560
United States: Who Really Made a Mistake on the US Employment Figures?

(June 07, 2020) The latest US monthly jobs report surprised many analysts. The US Bureau of Labor Statistics (BLS) estimated that a record 2.5 million jobs were created in May, while different pools of forecasters had predicted that between 7.5 and 8.3 million jobs would be lost. Based on BLS figures, unemployment decreased to 13.3 percent in May from 14.7 percent in April. At the same time, initial claims continued to increase through May, with the number of people on unemployment benefits close to 20 million, which could point to a bumpy recovery to come.The misclassification error* that is supposed to be fixed by BLS also indicates that the labor market improvement in May is more moderate than reported and forecasters may not have been so far off after all.   * The Bureau of Labor Statistics, responsible for the monthly jobs reports, said it is working to fix a “misclassification error” and the “overall unemployment rate would have been about 3 percentage points higher than reported,” meaning the US unemployment rate for May is expected to be about 16.3 percent.

Misha Gusev knoema.de://knoema.de/user/1000560
US Stock Market Gains as Labor Market Improves in May 2020 //knoema.de/yuoafj/us-stock-market-gains-as-labor-market-improves-in-may-2020 2020-06-08T13:57:08Z Nematullah Khan knoema.de://knoema.de/user/1975840
US Stock Market Gains as Labor Market Improves in May 2020

(7 June 2020) The US labor market improved in May as millions of workers returned to work after COVID-19 induced layoffs, sending positive reverberations through the US stock market. The labor market added 2.5 million non-farm jobs in May and the unemployment rate decreased to 13.3 percent* from 14.7 April, remaining higher than in any previous post-war recession. The rate would be still higher if it was able to capture the millions of people who are not working and want a job, perhaps not looking for work because of fears relating to coronavirus.The unemployment rate gains were unequal across racial groups. The rate increased marginally for African Americans to 16.8 percent from 16.7 percent in April, while unemployment for whites declined to 12.4 percent from 14.2 percent in April. The stock market surged on 5 June after the jobs report showed surprising improvement. The S&P 500 index rose 2.62 percent Another major Wall Street index, the tech-heavy Nasdaq composite—including companies like Amazon, Apple and Microsoft—increased 2.06 percent. The Dow Jones Industrial average gained 829 points to 3.15 percent.The US government has injected around $3 trillion into the economy to mitigate the impact of  the COVID-19 pandemic. The stimulus has been one of the key drivers behind the stock market recovery from its March lows.   * The Bureau of Labor Statistics, responsible for the monthly jobs reports, said it is working to fix a “misclassification error” and the “overall unemployment rate would have been about 3 percentage points higher than reported,” meaning the US unemployment rate for May is expected to be about 16.3 percent.

Nematullah Khan knoema.de://knoema.de/user/1975840
United States: Labor Market Overview, April 2020 //knoema.de/acmaiqe/united-states-labor-market-overview-april-2020 2020-06-04T09:10:22Z Nematullah Khan knoema.de://knoema.de/user/1975840
United States: Labor Market Overview, April 2020

(31 May 2020)  The US economy lost 20.5 million non-farm jobs in April, as COVID-19 shutdown the economy and the labor marketing, leading the unemployment rate to skyrocket 14.7 percent, the largest drop in employment since the government started capturing the data. The jobs lost and unemployment rate figures were below the Dow Jones Survey’s expectations of 21.5 million and 16 percent, respectively. To put these figures into perspective, the unemployment rate in April was higher than the post WWII figure of 10.8 percent and the financial crisis peak of 10 percent in October 2009. The rate is, however, still less than experienced during the  Great Depression, estimated at 24.9 percent.   Unemployment Rate by Race The US unemployment rate in April was highest for Hispanics (18.9%), followed by African Americans (16.7%), Asians (14.5%), and whites (14.2%).   Unemployment Rate by Gender The unemployment rate in April for women (16.2%) was nearly three points higher than for men (13.5%), reflecting the prevalence of women in hard-hit hospitality and retail jobs. This was the highest recorded unemployment gap between men and women, followed by the global financial crisis of 2008-2009 during which it was men facing the higher unemployment rates.  

Nematullah Khan knoema.de://knoema.de/user/1975840
United Kingdom: Jobless Claims Soared to 2.1 Million in April //knoema.de/qmyuwpc/united-kingdom-jobless-claims-soared-to-2-1-million-in-april 2020-05-21T03:26:45Z Nematullah Khan knoema.de://knoema.de/user/1975840
United Kingdom: Jobless Claims Soared to 2.1 Million in April

(20 May 2020)  Jobless claims in the United Kingdom jumped 69.1% MoM in April to reach 2.1 million, according to the UK Office for National Statistics (ONS), making it the largest month-on-month increase since records began in 1970. The increase comes even as the government has implemented an emergency wage subsidy that pays 80% of workers’ wages up to sterling pound 2,500 per month.   The government also enhanced its Universal Credit social security payment to expand eligibility for unemployment benefit support. As a result, ONS cautioned that the claims figure may not be an accurate reflection of unemployment given the new measures to help those whose income is affected due to the coronavirus.

Nematullah Khan knoema.de://knoema.de/user/1975840
Something Has Gone Wrong with US Unemployment Estimates //knoema.de/scutxxg/something-has-gone-wrong-with-us-unemployment-estimates 2020-03-19T20:15:53Z Misha Gusev knoema.de://knoema.de/user/1000560
Something Has Gone Wrong with US Unemployment Estimates

An economic concept known as Okun’s Law—which explains the relationship between rates of unemployment and GDP growth—has held true for all US economic downturns and recoveries since 1948. However, we discovered a major discrepancy for the recovery period after the Great Recession of 2008, where Okun’s Law failed to explain the drop in the US unemployment rate as reported by the US government. This means the US labor market might not be as strong as numbers suggest, and considering central banks use Okun’s Law to help set monetary policy, this discrepancy could have major consequences.

Misha Gusev knoema.de://knoema.de/user/1000560
US Unemployment Rate //knoema.de/gmrmcjc/us-unemployment-rate 2020-03-19T20:14:45Z Misha Gusev knoema.de://knoema.de/user/1000560
US Unemployment Rate

(March 2018)  The US unemployment rate increased by 0.1 percentage point in March compared to the previous month, reaching 5 percent, or about 8 million people. Many Americans consider a reduction of the unemployment rate to be one of the highest-priority socio economic issues. As economists point out, however, there is a natural or normal rate of unemployment that signals stable prices in a well-functioning economy and the US has little margin at present. The current natural unemployment rate is estimated at 4.8 percent, which is only slightly less that the current actual unemployment rate. Since the same time last year, the unemployment rate has decreased by 0.5 percentage points. The decline occurred at a lower pace, however, than during the 2014 to 2015 period.The current unemployment rate is now half its peak of 10 percent, recorded at the end of 2007-2009 global financial crisis.Among US states, Alaska has the highest unemployment rate (6.6%) and South Dakota the lowest (2.7%). California, which accounts for 13 percent of US GDP, reported an unemployment rate of 5.5 percent as of February 2016. Other employment figures of note:Employment expanded by 246,000 people during March to 151.3 million. This represents a 2.01 percent annual growth rate and exceeds the growth rate during 2014-2015.The employment to population ratio, however, changed little from the previous year due to the 1.07 percent increase in the US population, cancelling out the employment gain.In March, the civilian labor force—representing the sum of unemployed and employed—was 159.3 million, or about 2.4 million more than in March 2015. The overall labor force participation rate grew by 0.1 percentage point, continuing its upward trend that started in September 2015.The share of long-term unemployed, or those who cannot find job for 27 weeks and over, decreased by 0.1 percentage points compared to February, and now constitutes 27.6 percent of total unemployment. The same cannot be said about March figures for involuntary part-time employment: the number of individuals who wanted full-time work but could find only a part-time job rose by 2.3 percent to 6.1 million. In addition, even though the current level of part-time employment continues to trend downwards, it remains historically high.

Misha Gusev knoema.de://knoema.de/user/1000560
South Africa: Unemployment rate hits to 29.1 percent in Q3 2019 //knoema.de/uxqdlae/south-africa-unemployment-rate-hits-to-29-1-percent-in-q3-2019 2019-11-08T14:53:31Z Trust Matsilele knoema.de://knoema.de/user/1223660
South Africa: Unemployment rate hits to 29.1 percent in Q3 2019

South Africa's unemployment rate ticked up 29.1 percent in Q3 2019 from 29 in Q2 2019, highest level since comparable data began in 2008. Through Q1 2000 to Q3 2019, the average unemployment rate was 25.77 percent, reached an all time high of 31.20 percent in the Q1 2003 and a low of 21.50 percent in the Q4 2008.The unemployed persons increased to 6733.71 thousands in Q3 from 6655.30 thousand in Q2 2019.   South Africa labour market added employment in four sectors out of ten in Q3 as compared to Q2 2019.    Sectors that added labours between Q2 and Q3 2019:Community and social services added 56.48 thousand workers.Mining added 37.92 thousand workers.Agriculture sector 37.63 thousand labours.Private households added 34.77 thousand labours.

Trust Matsilele knoema.de://knoema.de/user/1223660
US Private Sector Employment Tracker: Monthly Growth //knoema.de/kfolxvb/us-private-sector-employment-tracker-monthly-growth 2019-10-29T14:46:54Z Alex Kulikov knoema.de://knoema.de/user/1847910
US Private Sector Employment Tracker: Monthly Growth

  Most Recent Report | Monthly Growth

Alex Kulikov knoema.de://knoema.de/user/1847910
US Labour Market Overview, September 2019 //knoema.de/fdfchce/us-labour-market-overview-september-2019 2019-10-08T09:50:06Z Nematullah Khan knoema.de://knoema.de/user/1975840
US Labour Market Overview, September 2019

Economy Added Less than Expected Workers US labour market added 136,000 non-farm employments in September 2019, below market expectations. The US Bureau of Labor Statistics revised employment figure upward from 159,000 to 166,000 for July and 130,000 to 168,000 for August. Through the first nine months of 2019, the economy added an average of 161,000 workers per month, a marked drop from last year’s average of 223,000 workers per month.   Manufacturing sector has been a key factor behind the slowdown in employments as reflected by ISM’s manufacturing PMI reading which was lowest in September since 2009. The sector has cut the jobs in last month for the second time this year.   The services sector, accounts for a much larger portion of the economy than manufacturing, has been still expanding. Industries, including health care, transportation and business services, added jobs in September 2019.

Nematullah Khan knoema.de://knoema.de/user/1975840
US Non-Farm Payroll Employment, July 2019 //knoema.de/qzvnref/us-non-farm-payroll-employment-july-2019 2019-08-08T01:06:47Z Nematullah Khan knoema.de://knoema.de/user/1975840
US Non-Farm Payroll Employment, July 2019

The US economy added 164,000 non-farm payroll jobs in July, lower than June level but consistent with market expectations. The US Bureau of Labor Statistics revised June's jobs figure from 224,000 down to 193,000. Through the first seven months of 2019, the US economy gained an average of 165,000 non-farm payroll jobs per month, a marked drop from last year’s average of 223,000 per month. By sector, professional and technical services (31,000 new jobs), health care (30,000), social assistance (20,000), and financial activities (18,000) made the most substantial jobs gains. Manufacturing, a causality of the ongoing US-China trade war, added 16,000 jobs.In July, the unemployment rate remained steady at 3.7 percent. Markets anticipated the rate would decline slightly, but the labor force participation rate bumped up to 63 percent with 370,000 new workers joining the US labor force.Meanwhile, the growth in average hourly earnings (0.3%) pushed wage growth y-o-y to 3.2 percent in July, the highest level since April.

Nematullah Khan knoema.de://knoema.de/user/1975840
Labor market indicators //knoema.de/dptzsr/labor-market-indicators 2019-08-02T20:16:08Z Misha Gusev knoema.de://knoema.de/user/1000560
Labor market indicators

Misha Gusev knoema.de://knoema.de/user/1000560
Happiness & Unemployment //knoema.de/ezhpngd/happiness-unemployment 2019-08-02T14:27:18Z Alex Kulikov knoema.de://knoema.de/user/1847910
Happiness & Unemployment

According to the evidence provided by recent empirical studies, unemployed people are, in general, unhappier than employed ones. This evidence, however, concerns only the concept of overall life satisfaction but does not take into account experienced happiness (or experienced utility), which usually implies happiness the day before the survey and consists of satisfaction from different activities (e.g. hobbies, eating, shopping, working etc.). Experienced happiness, though, is more suitable approach, since it gives insight into what makes people happy when they are employed and what makes them unhappy when they are unemployed. Moreover it is more closely related to the idea of utility of work and leisure which the economic theory is based on. The mentioned approach is used in the study of Andreas Knabe (Knabe et al. 2010) conducted in Germany by interviewing 600 employed and unemployed people. Although its results support an idea that unemployed people are in general less satisfied with their lives than employed people, working, among all activities, is perceived by employed people as the least enjoyable activity, while it takes the most of their day time. On the contrary, unemployed people can spend more of their time on leisure activities, which are ranked as more enjoyable by both employed and unemployed people. That is why, when controlling for time-composition effect (how the day time is spent) it appears that unemployed people experience slightly bigger utility than employed people. This, in fact, supports the main assumption behind standard utility functions, namely, that experienced utility is increasing in leisure. Sources: World Happiness Report 2013, April 2014, World Development Indicators (WDI), April 2014, Unemployment and happiness: A new take on an old problem

Alex Kulikov knoema.de://knoema.de/user/1847910
US: Low unemployment rate with slow wage growth //knoema.de/cvquqcd/us-low-unemployment-rate-with-slow-wage-growth 2019-05-07T16:08:29Z Nematullah Khan knoema.de://knoema.de/user/1975840
US: Low unemployment rate with slow wage growth

The US economy has been creating jobs at a moderate pace over the last few years while real wage growth remains largely flat during this expansion. The unemployment rate has fallen to as low as 4% in June 2018, while the average hourly wage growth ticked up to 2.77%. Notwithstanding the slight tick up in hourly wage growth last month, real wage growth has been anemic in spite of low unemployment rate for some time now. The current relationship between unemployment and wage rate are not in line with Phillips curve, an economic theory showing the inverse relationship between inflation and unemployment. Tight labor markets have historically tended to place upward pressure on wages and inflation. Yet U.S. consumer prices and wage inflation remain modest despite a nearly eight-year U.S. economic expansion and an unemployment rate that has already dropped below the Federal Reserve’s estimated “natural rate of unemployment”. This situation has perplexed many researchers until now. It is likely that some transient factors not visible are playing role in keeping wage growth moderate. However, mix of strong factors like baby boomer retirement, every day 10000 retiring and expected to continue 2030 as per American Association of Retired Persons (AARP) research, a decline in the rate of union membership for private-sector employees  to 6.5%  in 2017 from 16.8% in 1983 (Bureau of Labor Statistic), contract restrictions prevented workers from shifting their jobs for better and highly paid, Lagging minimum wage which is currently at $7.25 an hour has not increased since 2009, automation and globalization have both made it easier for business to find cheaper alternative, outsourcing. Though, it is unlikely that such factors will be able to keep the wage growth subdued amid low rate of unemployment for long. The statements from the Federal Reserve reflect this concern.

Nematullah Khan knoema.de://knoema.de/user/1975840
Unemployment rate 1990-2012 //knoema.de/mkgycs/unemployment-rate-1990-2012 2018-10-12T14:13:07Z Misha Gusev knoema.de://knoema.de/user/1000560
Unemployment rate 1990-2012

Uemploymnet by country 2000-2012: Time series, Ranking, Charts Unemployment Rate measured as a percent of total labor force                                                                                                                                   Sources: The World Bank, WDI&GDF Jul 2013; IMF, WEO Jul. 2013

Misha Gusev knoema.de://knoema.de/user/1000560
Unemployment rate by Region in US //knoema.de/panyajc/unemployment-rate-by-region-in-us 2018-09-17T05:49:51Z Nematullah Khan knoema.de://knoema.de/user/1975840
Unemployment rate by Region in US

Nematullah Khan knoema.de://knoema.de/user/1975840
Cuba: Planned Economy, Mixed Results //knoema.de/euddccg/cuba-planned-economy-mixed-results 2018-06-19T11:05:25Z Alex Kulikov knoema.de://knoema.de/user/1847910
Cuba: Planned Economy, Mixed Results

50+ Years of Cuba's economic performance | Who trades with Cuba?

Alex Kulikov knoema.de://knoema.de/user/1847910
Seven Big Summits: 44th Group of Seven (G7) Presidency //knoema.de/akbjrkf/seven-big-summits-44th-group-of-seven-g7-presidency 2018-01-29T12:36:21Z Alex Kulikov knoema.de://knoema.de/user/1847910
Seven Big Summits: 44th Group of Seven (G7) Presidency

Canada is proud to host the 2018 G7 Summit in Charlevoix. This vibrant region captures everything that our country is about – from bilingualism, to cultural diversity, to stunning scenery in every season. I look forward to welcoming my counterparts this year in beautiful Charlevoix. I’m sure they will fall in love with the region, just as Canadians have done for generations. Event date: 8-9 June 2018 Location: Canada The Nuclear Security Summit | UN General Assembly Special Session on the World Drug Problem | World Humanitarian Summit | Group of Seven Summit | Group of Twenty Summit | Habitat III | Conference of Parties to the UN Framework Convention on Climate Change

Alex Kulikov knoema.de://knoema.de/user/1847910
International Financial Statistics by Country (IFS) //knoema.de/aqrrlef/international-financial-statistics-by-country-ifs 2017-12-27T10:58:13Z Alex Kulikov knoema.de://knoema.de/user/1847910
International Financial Statistics by Country (IFS)

Alex Kulikov knoema.de://knoema.de/user/1847910
Seven Big Summits: Group of Twenty Summit 2017 //knoema.de/gttdepg/seven-big-summits-group-of-twenty-summit-2017 2017-08-23T06:27:28Z Alex Kulikov knoema.de://knoema.de/user/1847910
Seven Big Summits: Group of Twenty Summit 2017

The 2017 G20 Hamburg summit will be the twelfth meeting of the Group of Twenty (G20). It will be held on 7–8 July 2017 in the city of Hamburg, Germany.   The Nuclear Security Summit | UN General Assembly Special Session on the World Drug Problem | World Humanitarian Summit | Group of Seven Summit | Group of Twenty Summit | Habitat III | Conference of Parties to the UN Framework Convention on Climate Change

Alex Kulikov knoema.de://knoema.de/user/1847910
Unemployment Rate //knoema.de/kbhftlb/unemployment-rate 2017-04-12T14:19:43Z Alex Kulikov knoema.de://knoema.de/user/1847910
Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Tax-Benefit Calculator: How much income do the unemployed receive? //knoema.de/hdrmyif/tax-benefit-calculator-how-much-income-do-the-unemployed-receive 2016-05-17T16:53:01Z Alex Kulikov knoema.de://knoema.de/user/1847910
Tax-Benefit Calculator: How much income do the unemployed receive?

While everyone at one point in time either experiences or fears losing a job, it's probably a remarkable few who knows how taxes and social benefits in the countries they live would affect their unemployment income. We have created a simple tax-benefit calculator, based on data from the OECD, which provides information on unemployment benefits. For each country, you can choose from a selection of different family types and earnings levels to better understand the expected unemployment benefits compared to average net income during employment. On this page, you can examine the net replacement rate - the proportion of net income in work that is maintained after job loss - for OECD and some non-OECD member economies for multiple combinations of family types and earnings levels. Note: AW - average wage

Alex Kulikov knoema.de://knoema.de/user/1847910
Tax-Benefit Calculator: How much income do the unemployed receive? //knoema.de/pbvshce/tax-benefit-calculator-how-much-income-do-the-unemployed-receive 2016-04-07T05:33:57Z Alex Kulikov knoema.de://knoema.de/user/1847910
Tax-Benefit Calculator: How much income do the unemployed receive?

While everyone at one point in time either experiences or fears losing a job, it's probably a remarkable few who knows how taxes and social benefits in the countries they live would affect their unemployment income. We have created a simple tax-benefit calculator, based on data from the OECD, which provides information on unemployment benefits. For each country, you can choose from a selection of different family types and earnings levels to better understand the expected unemployment benefits compared to average net income during employment. Note: Figures shown are annualised amounts expressed in local currency units, AW - average wage

Alex Kulikov knoema.de://knoema.de/user/1847910
Average duration of unemployment in different countries //knoema.de/unwbahb/average-duration-of-unemployment-in-different-countries 2016-04-06T13:25:27Z Alex Kulikov knoema.de://knoema.de/user/1847910
Average duration of unemployment in different countries

Alex Kulikov knoema.de://knoema.de/user/1847910
Maldives' Economic Performance and Heavy Reliance on Tourism Industry //knoema.de/uoruco/maldives-economic-performance-and-heavy-reliance-on-tourism-industry 2016-03-11T20:27:29Z Alex Kulikov knoema.de://knoema.de/user/1847910
Maldives' Economic Performance and Heavy Reliance on Tourism Industry

While the Maldives may be best known worldwide as a picturesque vacation destination, on 4 November President Abdullah Yameen declared a 30-day state of emergency, an order he swiftly revoked less than a week later following widespread international condemnation and concerns about its strong impact on the country's tourism industry. An explosion on the president's boat in late September is being linked to the decision to impose a state of emergency as well as to the dismissal or arrest of high-level cabinet members and officials, including Vice President Ahmed Adeeb.   In light of the recent events, we have prepared a brief overview of the Maldives' economic performance along with a short series of visualizations to examine the extent to which the country is dependent on tourism.

Alex Kulikov knoema.de://knoema.de/user/1847910
India Short Term Economic Profile: Prices and Unemployment //knoema.de/suglfrg/india-short-term-economic-profile-prices-and-unemployment 2016-02-29T10:11:40Z Alex Kulikov knoema.de://knoema.de/user/1847910
India Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Brazil Short Term Economic Profile: Prices and Unemployment //knoema.de/daobrlf/brazil-short-term-economic-profile-prices-and-unemployment 2016-02-29T10:11:38Z Alex Kulikov knoema.de://knoema.de/user/1847910
Brazil Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Argentina Short Term Economic Profile: Prices and Unemployment //knoema.de/qlcouce/argentina-short-term-economic-profile-prices-and-unemployment 2016-02-29T10:11:38Z Alex Kulikov knoema.de://knoema.de/user/1847910
Argentina Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Euro Area (18 countries) Short Term Economic Profile: Prices and Unemployment //knoema.de/tynbusg/euro-area-18-countries-short-term-economic-profile-prices-and-unemployment 2016-02-11T05:41:50Z Alex Kulikov knoema.de://knoema.de/user/1847910
Euro Area (18 countries) Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
European Union (28 countries) Short Term Economic Profile: Prices and Unemployment //knoema.de/ysvlonc/european-union-28-countries-short-term-economic-profile-prices-and-unemployment 2016-02-02T06:54:20Z Alex Kulikov knoema.de://knoema.de/user/1847910
European Union (28 countries) Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Japan Short Term Economic Profile: Prices and Unemployment //knoema.de/kujcrwd/japan-short-term-economic-profile-prices-and-unemployment 2016-02-01T07:21:02Z Alex Kulikov knoema.de://knoema.de/user/1847910
Japan Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Policy Forum on the Future of Work and OECD Employment and Labour Ministerial Meeting //knoema.de/aciarqe/policy-forum-on-the-future-of-work-and-oecd-employment-and-labour-ministerial-meeting 2015-11-23T05:20:34Z Alina Buzanakova knoema.de://knoema.de/user/1293450
Policy Forum on the Future of Work and OECD Employment and Labour Ministerial Meeting

Date of Event: 14-15 January 2016 Evet Holder: OECD Description: On 14-15 January 2016 the OECD will host a Ministerial meeting on Labour and Employment, and a Policy Forum on the Future of Work. Ministers from more than 40 OECD and partner countries will convene at the OECD headquarters in Paris for a rich exchange of ideas and experiences on how to build more resilient and inclusive labour markets in light of the lessons learned from the recent global economic crisis and in view of the ongoing changes in the world of work as a result of demographic shifts, technological change and globalisation. The meeting will also identify priority topics for future OECD work in the employment and labour policy field. Back-to-back with the Ministerial meeting, a Policy Forum on the Future of work will take place to discuss how digitisation is shaping the world of work and the implications for skills and labour market policy. The Forum will bring together over 300 participants including key academics, Labour and Employment Ministers, entrepreneurs and leading representatives from the business sector and the trade unions. The discussions that take place during the Forum will shape the OECD and participating countries’ policy agenda to promote better jobs and well-being.

Alina Buzanakova knoema.de://knoema.de/user/1293450
Saudi Arabia Short Term Economic Profile: Prices and Unemployment //knoema.de/vdmqdrb/saudi-arabia-short-term-economic-profile-prices-and-unemployment 2015-10-31T06:41:02Z Alex Kulikov knoema.de://knoema.de/user/1847910
Saudi Arabia Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices

Alex Kulikov knoema.de://knoema.de/user/1847910
Australia Short Term Economic Profile: Prices and Unemployment //knoema.de/tpfyydb/australia-short-term-economic-profile-prices-and-unemployment 2015-10-31T06:35:51Z Alex Kulikov knoema.de://knoema.de/user/1847910
Australia Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Italy Short Term Economic Profile: Prices and Unemployment //knoema.de/mucrvke/italy-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:35:54Z Alex Kulikov knoema.de://knoema.de/user/1847910
Italy Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
France Short Term Economic Profile: Prices and Unemployment //knoema.de/jugdcvf/france-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:35:25Z Alex Kulikov knoema.de://knoema.de/user/1847910
France Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Canada Short Term Economic Profile: Prices and Unemployment //knoema.de/egxrrgf/canada-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:35:09Z Alex Kulikov knoema.de://knoema.de/user/1847910
Canada Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Germany Short Term Economic Profile: Prices and Unemployment //knoema.de/afkumsb/germany-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:34:42Z Alex Kulikov knoema.de://knoema.de/user/1847910
Germany Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
United Kingdom Short Term Economic Profile: Prices and Unemployment //knoema.de/hyisvab/united-kingdom-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:34:27Z Alex Kulikov knoema.de://knoema.de/user/1847910
United Kingdom Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
United States Short Term Economic Profile: Prices and Unemployment //knoema.de/mytcwof/united-states-short-term-economic-profile-prices-and-unemployment 2015-10-30T06:34:05Z Alex Kulikov knoema.de://knoema.de/user/1847910
United States Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
China Short Term Economic Profile: Prices and Unemployment //knoema.de/prnemxe/china-short-term-economic-profile-prices-and-unemployment 2015-10-26T13:58:06Z Alex Kulikov knoema.de://knoema.de/user/1847910
China Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
US State Profile //knoema.de/fucgieg/us-state-profile 2015-10-26T11:52:04Z Misha Gusev knoema.de://knoema.de/user/1000560
US State Profile

Misha Gusev knoema.de://knoema.de/user/1000560
South Africa Short Term Economic Profile: Prices and Unemployment //knoema.de/mdzgsng/south-africa-short-term-economic-profile-prices-and-unemployment 2015-07-09T07:07:53Z Alex Kulikov knoema.de://knoema.de/user/1847910
South Africa Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Russia Short Term Economic Profile: Prices and Unemployment //knoema.de/lkdhxy/russia-short-term-economic-profile-prices-and-unemployment 2015-07-09T06:13:29Z Alex Kulikov knoema.de://knoema.de/user/1847910
Russia Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Turkey Short Term Economic Profile: Prices and Unemployment //knoema.de/qdmjxmc/turkey-short-term-economic-profile-prices-and-unemployment 2015-07-07T07:38:19Z Alex Kulikov knoema.de://knoema.de/user/1847910
Turkey Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Korea Short Term Economic Profile: Prices and Unemployment //knoema.de/yvvebrb/korea-short-term-economic-profile-prices-and-unemployment 2015-07-07T07:05:10Z Alex Kulikov knoema.de://knoema.de/user/1847910
Korea Short Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Mexico Term Economic Profile: Prices and Unemployment //knoema.de/dzxavi/mexico-term-economic-profile-prices-and-unemployment 2015-07-07T06:12:30Z Alex Kulikov knoema.de://knoema.de/user/1847910
 Mexico Term Economic Profile: Prices and Unemployment

United States | Japan | European Union | Euro Area | Germany | Italy | France | United Kingdom | Australia | Argentina | Canada | Indonesia | Mexico | Saudi Arabia | Korea | Turkey | Brazil | Russia | South Africa | China | India  Real Sector | Financial Sector | Foreign Sector | Prices and Unemployment Consumer Prices, Producer Prices, Harmonised Unemployment Rate

Alex Kulikov knoema.de://knoema.de/user/1847910
Understanding US unemployment & inflation measures //knoema.de/lflqogb/understanding-us-unemployment-inflation-measures 2015-04-27T18:19:48Z Alex Kulikov knoema.de://knoema.de/user/1847910
Understanding US unemployment & inflation measures

Today, Jan 28 US Federal Reserve's Open Market Committee (FOMC) will hold a regular meeting and shall formulate its vision of US monetary policy for the near future. Due to fallen commodities prices and changes in monetary policy in Europe, financial markets expect the US Fedcan alsochange therhetoric andmove thepreviously expectedrate hikesand policy tightening further inthe future. Let's try to take a deeper look at main indicators US Fed uses for setting policy guidelines according to its dual mandate: employment situation and inflation rates. As the FOMC has repeatedly stated, it does not use a "mechanistic" approach to the determination of current labor market's condition, but considers the situation in the complex. There are 6 main indicators of unemployment in the US: the "main" or "official" unemployment rate (according to the International Labour Organization definition of "unemployment") and 5 other measures. "Official" unemployment rate (or U-3) is a percent of total labor force, which includes all jobless persons who want to find a job, available to take a job and have actively sought work in the past four weeks. 3 broader measures are: U4: U3 + "discouraged workers", or those who have stopped looking for work because current economic conditions make them believe that no work is available for them; U5: U4 + other "marginally attached workers", or "loosely attached workers", or those who "would like" and are able to work, but have not looked for work recently for any reason and U6 (broadest measure) includes U3 and U4 + part-time workers who want to work full-time, but cannot due to economic reasons (underemployment). And there are 2 narrower measures: U1: Percentage of labor force unemployed 15 weeks or longer and U2: Percentage of labor force who lost jobs or completed temporary work (for more explanation check this US Bureau of Labor Statistics page) Regarding the inflation FOMC prefers the Personal Consumer Expenditure Price Index less Food & Energy (so called Core PCE Price Index) as the main inflation indicator instead of more widely known Consumer Price Index (CPI or its "core" - less food & energy variant). The reasons for that are complex and explained in detail in various papers from FRS staff (e. g. check this explanations on the FRB of San-Francisco web-page). But as the data shows, all four main inflation measures usually moves close enough. And for now all of it still lower than pre-crisis levels and far enough from FOMC "floating" target range (2%-2.5%). And all six unemployment indicators are still higher than its pre-crisis levels (while each of it improved significantly over the recent years), thereforeit can be concluded that current situation at least not forces FOMC to any policy tightening. And in order to boost economy for some more time, such a decision really may be postponed to later date (than previously expected).

Alex Kulikov knoema.de://knoema.de/user/1847910
Launch of OECD Economic Surveys : China 2015 //knoema.de/mdlfcp/launch-of-oecd-economic-surveys-china-2015 2015-04-27T17:53:22Z Alina Buzanakova knoema.de://knoema.de/user/1293450
Launch of OECD Economic Surveys : China 2015

An Economic Survey is published every two years for each OECD member country and for some countries that are not OECD members, such as China, Russia and Brazil. There is also a separate Survey of the euro area. The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Now, the focus is mostly on policies having a potential to improve the economy’s long-run performance.  Event Holder: OECD

Alina Buzanakova knoema.de://knoema.de/user/1293450
Launch of OECD Economic Surveys : Indonesia 2015 //knoema.de/enbrfme/launch-of-oecd-economic-surveys-indonesia-2015 2015-04-27T17:53:14Z Alina Buzanakova knoema.de://knoema.de/user/1293450
Launch of OECD Economic Surveys : Indonesia 2015

An Economic Survey is published every two years for each OECD member country and for some countries that are not OECD members, such as China, Russia and Brazil. There is also a separate Survey of the euro area. The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Now, the focus is mostly on policies having a potential to improve the economy’s long-run performance.  Event Holder: OECD

Alina Buzanakova knoema.de://knoema.de/user/1293450
Statistics : Harmonised Unemployment Rates //knoema.de/uxhqxbe/statistics-harmonised-unemployment-rates 2015-04-27T17:29:31Z Mikhail Zhukovskii knoema.de://knoema.de/user/1293430
Statistics : Harmonised Unemployment Rates

The OECD harmonised unemployment rates, compiled for all 34 OECD member countries, are based on definitions of the 13th Conference of Labour Statisticians (generally referred to as the ILO guidelines). Under these definitions, the unemployed are persons of working age who, in the reference period: − are without work; − are available for work; and, − have taken specific steps to find work. The uniform application of the definitions results in estimates that are more internationally comparable than those based on national definitions. For example, national unemployment data in some countries only include persons registered at government labour offices. Under the ILO definition, persons without work who are seeking employment through other means can also be classified as unemployed and registrants can be excluded if they worked or were not available for work. The unemployment rates shown here are calculated as the number of unemployed persons as a percentage of the labour force (i.e., the unemployed plus those in employment) and are seasonally adjusted.  Event Holder: OECD

Mikhail Zhukovskii knoema.de://knoema.de/user/1293430
Launch of OECD Economic Surveys : United Kingdom 2015 //knoema.de/lelcht/launch-of-oecd-economic-surveys-united-kingdom-2015 2015-04-27T17:22:41Z Mikhail Zhukovskii knoema.de://knoema.de/user/1293430
Launch of OECD Economic Surveys : United Kingdom 2015

An Economic Survey is published every two years for each OECD member country and for some countries that are not OECD members, such as China, Russia and Brazil. There is also a separate Survey of the euro area. The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Now, the focus is mostly on policies having a potential to improve the economy’s long-run performance.  Event Holder: OECD

Mikhail Zhukovskii knoema.de://knoema.de/user/1293430
Launch of OECD Economic Surveys : Estonia 2015 //knoema.de/zlcztt/launch-of-oecd-economic-surveys-estonia-2015 2015-04-27T17:07:32Z Alex Kulikov knoema.de://knoema.de/user/1847910
Launch of OECD Economic Surveys : Estonia 2015

An Economic Survey is published every two years for each OECD member country and for some countries that are not OECD members, such as China, Russia and Brazil. There is also a separate Survey of the euro area. The Economic Surveys and the work of the Economic and Development Review Committee (EDRC) have evolved since the creation of the OECD in 1961 when the Surveys focused on short-term macroeconomic developments. Now, the focus is mostly on policies having a potential to improve the economy’s long-run performance.  Event Holder: OECD

Alex Kulikov knoema.de://knoema.de/user/1847910
Non-farm payrolls statistics. US Economy Adds 236K Jobs in Feb/2013 //knoema.de/uwsgkad/non-farm-payrolls-statistics-us-economy-adds-236k-jobs-in-feb-2013 2013-03-15T07:08:25Z Anna Volegova knoema.de://knoema.de/user/1051030
Non-farm payrolls statistics. US Economy Adds 236K Jobs in Feb/2013

Non-farm payrolls is an employment report released monthly. It represents total amount of paid workers in goods-producing, construction and manufacturing companies.It does not include farm workers, private household employees, non-profit organization employees, or government employees. It is an influential statistic and economic indicator released monthly by the US Department of Labor as part of a comprehensive report on the state of the labor market. The figure released is the change in NFP, compared to the previous month.

Anna Volegova knoema.de://knoema.de/user/1051030