labor market

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What You Earn for Life Likely Set Before You're 30: Report

Federal Reserve Bank of NY says bulk of earnings growth happens in one's 20s

(Newser) - Those who like predicting how much they'll have by the time they retire may want to peruse the Federal Reserve Bank of New York's latest research. The bank's report , which analyzed the careers of 5 million workers over four decades, found that it's the first 10... More »

Eurozone Wants Greeks to Work 6 Days a Week

Demand likely to draw yet more resistance to austerity measures

(Newser) - If Greece's eurozone creditors have their way, a lot of people may be coming in to work on Sundays. In a leaked letter sent to Athens last week, the European Commission, European Central Bank, and IMF demanded that Greece "increase flexibility of work schedules" by allowing employers in... More »

In Amazon's Warehouse, Shades of Grapes of Wrath

LeHigh warehouse like something out of Grapes of Wrath , Ezra Klein observes

(Newser) - In the Grapes of Wrath, the Joad family gets a hard lesson in economics, when they follow a handbill for jobs to California—only to find there are no jobs. Why, he asks, did they put out the handbills? A fellow homeless man replies that if you’ve but one... More »

Unemployment Stuck at 9.6%

But it's the best jobs month since May, with a net gain of 151K jobs

(Newser) - US employers added the most jobs in five months in October, with the education and health care sectors leading the way. But the unemployment rate, measured by a separate survey of households, refused to budge. It remained stuck at 9.6% for the third straight month. More »

Fastest-Growing Careers in US

Biomedical engineers, health aides will be in strong demand by 2018

(Newser) - Here are the careers projected by the Labor Department to have the fastest growth by 2018, as run down by the Boston Globe:
  1. Biomedical engineer: 16,000 in 2008; projected growth of 72%; median pay: $77,400.
  2. Network systems and data communication analyst: 292,000 in 2008; projected growth of
... More »

Unemployment Will Probably Miss 10%: Silver

(Newser) - Lots of economists are predicting that unemployment, which at last count hung at 9.4%, will hit 10% before the calendar changes, but Nate Silver of disagrees. For that to happen, the economy would need to lose another million jobs or so, and "the jobs picture is... More »

College Grads Face Years of Lower Wages

Economists pile on the bad news for the struggling class of '09

(Newser) - The recession will mean paltry pay for the Class of '09 for many years to come, economists tell the Wall Street Journal. College grads are entering the toughest labor market in 25 years and competition is driving down starting wages for those lucky enough to land jobs, an effect research... More »

Japan Pays Latin American Workers to Go, Stay Home

Plan hatched to ease recession burdens

(Newser) - Faced with rising unemployment, Japan is paying foreign workers to leave the nation for good, the New York Times reports. The offer targets some 366,000 Latin Americans of Japanese descent who perform undesirable manufacturing jobs. With industrial production at a 25-year low, many of them are out of work,... More »

Bernanke Signals New Rate Cuts

Says central bank 'will act as needed' to further minimize economic risks

(Newser) - Federal Reserve Chairman Ben Bernanke today said that the board stands ready to cut interest rates again to give the economy "adequate insurance against downside risks," reports the Wall Street Journal. The move, which follows 2.25% in cuts to the key rate since September, is widely expected... More »

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