Labor Markets Stable in Advanced Economies

English: Graph of US Civilian Labor Participat...

English: Graph of US Civilian Labor Participaton Rate from 1948 to 2010 (Photo credit: Wikipedia)

 

Labor markets remain stable in many advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons (ILC) program for September.

The unemployment rate in September was unchanged in four of the nine countries compared. Unemployment decreased in three countries – U.S., Japan and Australia. Japan had the lowest rate at 3.5 percent – a trend which has continued since July 2011. However, the jobless rate in Italy and France increased. These countries also had the highest unemployment rates in September (12.6 percent and 10.9 percent respectively).

“Despite record high unemployment in Europe, joblessness in some economies outside of Europe remains stable or is decreasing,” said Elizabeth Crofoot, Senior Economist with the International Labor Comparisons program at The Conference Board. “Particularly in the United States, Canada, and Japan, unemployment rates continue to fall from highs seen in 2009.”

Employment in September rose in all economies compared except Canada and Italy. In Italy, the 0.4 percent decline in employment was the largest drop since January 2013. Italy continues to have the lowest employment index (96.8), while Australia has the highest (111.8). Canada was unchanged, and remains at 107.2. The U.S. increased 0.1 percent to 98.8, a five-year high.

About Adjusted Employment Data and International Labor Comparisons (ILC) Governments vary in the methods and definitions used to calculate labor force statistics. To facilitate comparison across countries, The Conference Board adjusts unemployment rates and employment indexes to match U.S. concepts. A monthly report compiles adjusted data for ten countries, alongside unadjusted unemployment rates from ten additional economies in Europe. All data is seasonally adjusted; employment indexes are benchmarked to January 2007 (= 100).

The data is published as part of The Conference Board International Labor Comparisons program. Formerly a division of the U.S. Bureau of Labor Statistics, ILC is dedicated to producing economic indicators that optimize research, comparison, and planning in a global context.

 

**Share the Magazine with your executive colleagues and friends!

Follow the Magazine: https://businessleadershipmanagement.wordpress.com/subscribe-follow-the-magazine/

(After you have filled in your email address in the column at the right hand side of the screen, a confirmation email will sent to your email address. You will have to confirm it before subscription begins)

Follow us on Twitter: https://twitter.com/BusinessLeaders

Like us on Facebook: https://www.facebook.com/BusinessLeadershipManagement

**As part of the Magazine’s drive to reward subscribers/followers, we will be providing subscribers/followers special access to exclusive content which will not be otherwise available to normal visitors. Please be sure to subscribe to the Magazine. Many visitors have given us positive comments that they will be bookmarking the site, but as the system is unable to capture a working email address to which the passcodes for exclusive content will be sent, they will miss out on this content. Do note that passcodes are locked to each exclusive content, not a one-for-all access, so do provide a working email address that you check regularly so as not to miss out on them!

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s