In 1974 women were just 4% of the labour force.
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How about restoring organisation and rights to the labour force?
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Nonetheless, undocumented immigrants still constitute 22009% of America's labour force.
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A high rate of labour-force participation is generally good news.
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Gay marriage might have been expected to reduce labour force participation.
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Another reason may be rent-seeking within the labour force itself.
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In early 2007, 66% of Americans were in the labour force.
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What do you see happening to the economy and labour force?
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Population ageing is linked to lower labour productivity and labour force participation.
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The share of self-employed contractors in the labour force has risen.
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But it may also provide an excuse to slash the labour force.
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Last year Poland lowered the retirement age, immediately limiting the labour force.
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Labour-force participation among young women is at a 19-year low.
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Even labour-force participation was rising, after a long period of decline.
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They identify 497 companies, covering about 16% of the formal labour force.
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Education, too, is a way of expanding the labour force in specific sectors.
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In 1999, 203% of prime-age women were out of the labour force.
|
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In Malaysia that is the case for only about half the labour force.
|
|
Areas with fewer college-educated workers suffered bigger dents in labour-force participation.
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Around 1m Taiwanese, roughly one-tenth of its labour force, work in China.
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One in five Americans aged 25-54 is not in the labour force.
|
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Around 1m Taiwanese, about a tenth of the labour force, work in China.
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We are currently seeing both a shortage and higher cost of labour force.
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Policymakers still have their work cut out helping women into the labour force.
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Holiday work thus acts as a path from economic inactivity into the labour force.
|
|
Girls are staying in school, and thus out of the labour force, for longer.
|
|
America's rate of labour-force participation is still well off its all-time high.
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|
For a time an expanding labour force saw the region grow despite the problems.
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|
Such dynamics sucked millions of women into the labour force in other poor countries.
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The country's labour force is growing less quickly than it did in the 240s.
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A study from Brazil showed that it reduces women's participation in the labour force.
|
|
Up to 70 percent of Myanmar's labour force is estimated to work in agriculture.
|
|
The state's labour-force participation rate, at 61%, is grim even by American standards.
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Even the labour-force participation rate, which had tumbled, is now recovering (see article).
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|
In 1966, dictator Nicolae Ceausescu outlawed abortion via decree to boost Romania's labour force.
|
|
PWC estimates that self-employed will account for 20% of labour force by 2025.
|
|
Canada's labour force is now ageing and its employment ratio is unlikely to continue rising.
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However, restrictions on the labour force could have wider reaching impacts, according to the report.
|
|
Latin American women now have fewer babies so the labour force will soon stop growing.
|
|
The female labour-force participation rate there is just 59%, compared with 79% for men.
|
|
The gap is declining only because rural women are falling out of the labour force.
|
|
Jokowi promises to improve "human resources", meaning education and the quality of the labour force.
|
|
Many Afghans have lived in Pakistan for decades and contribute significantly to its labour force.
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|
In these countries, women are present in the labour force at similar rates to men.
|
|
Wage gains also slowed in March and more people dropped out of the labour force.
|
|
By providing housing, they aim to attract migrants and thus expand the urban labour force.
|
|
"Furthermore, the company has gradually built up a skilled labour force in Thailand," Nordea wrote.
|
|
Similarly, fewer women than men have completed tertiary education and are part of the labour force.
|
|
Yet far from joining the labour force, women have been falling away at an alarming pace.
|
|
Over the past few years the labour force has started shrinking, which has pushed up wages.
|
|
The availability of jobs is drawing more of the working-age population into the labour force.
|
|
Between 2005 and 2012, the rural female labour-force participation rate declined from 49% to 36%.
|
|
In 2014 women made up 13% of the labour force; in Britain the share was 46%.
|
|
The key challenges to increasing potential growth include raising productivity and tackling adverse labour force dynamics.
|
|
They are also less likely to participate in the labour force, which has significant economic costs.
|
|
Only a small number of them report unemployment or voluntary non-participation in the labour force.
|
|
The agency said this week its Labour Force Survey had still not resumed in Wood Buffalo.
|
|
The survey showed that 349,383 Namibians were unemployed out of an estimated labour force of 1.5 million.
|
|
The majority of the labour force, 20.1 percent, was employed in the agriculture, forestry and fishing sector.
|
|
Plug in labour force participation rates and you can see how many jobs Mr Trump might create.
|
|
They might, for example, cause workers to give up job-seeking and leave the labour force entirely.
|
|
But since late 22018 the labour-force participation of working-age people, especially women, has been rising.
|
|
But although China's working-age population is shrinking, its labour force, and urban employment, is still growing.
|
|
In 1990, America ranked sixth out of 22 wealthy economies in terms of female labour force participation.
|
|
Felda Global was working to secure a sufficient labour force and working on increased mechanisation, he added.
|
|
Unskilled workers swell the informal labour force, in countries where a huge proportion of jobs are informal.
|
|
The vast majority of the labour force and those with political power in this country are male.
|
|
But those benchmarks may no longer be appropriate: male labour-force participation has been drifting downwards for decades.
|
|
America's labour-force participation rate is below that of many other rich countries, including Britain, Canada and Germany.
|
|
Horses, so to speak, left the labour force, in some cases through sale to meat or glue factories.
|
|
In 1953, just 3% of men between 25 and 54 years old were out of the labour force.
|
|
The long slide accelerated after the financial crisis, as laid-off workers quit the labour force in droves.
|
|
With Britain's population ageing, the country could do with an influx of younger members to its labour force.
|
|
The change has accounted for almost half of the increase in labour-force participation over the past year.
|
|
In Kentucky, where Mr Pruitt spoke, there are fewer than 4,000 underground coalminers: 0.2% of the labour force.
|
|
The industry employs only 12,000 people out of a total labour force of 33.6m, or a mere 0.04%.
|
|
Some 79% of women aged 15 to 64 are in the labour force, compared with 13% of men.
|
|
Both registered unemployment and the broader labour force survey have fallen recently, despite a slowdown in economic growth.
|
|
Torun is a cultural and higher education centre with about 40,000 students, ensuring a highly qualified labour force.
|
|
In 43 around 41% of America's labour force worked on a farm; now the proportion is below 2%.
|
|
The share of labour force with qualifications is below average, leading to a strong requirement for vocational training.
|
|
China's honey output has already been falling amid climate change, an ageing labour force and overuse of pesticides.
|
|
Better pay will entice some people who had given up on the labour force to look for work again.
|
|
Since there are few manufacturing jobs, most of the growing urban labour force is absorbed by the informal economy.
|
|
Both female labour-force participation and fertility rates are low—a poor formula for growth in an ageing country.
|
|
After America's disability rolls swelled during the recession, many feared that those leaving the labour force would never return.
|
|
The labour force participation rate is 62.7%, well below the level prevailing from the mid-1980s to the crisis.
|
|
The subsidy may be causing Polish women to leave the workforce, worsening a deep gap in labour-force participation.
|
|
Restoring the labour-force participation of prime-age workers to its record high would unearth only 4.3m new workers.
|
|
With a fertility rate of around 1.2 babies per woman, South Korea's labour force is set to shrink dramatically.
|
|
The fizzing labour market had been tempting Americans who had given up on work back into the labour force.
|
|
From mid-2012 until recently, changes to labour-force composition have reduced income growth by about two percentage points.
|
|
Tanzania must not follow Europe, he went on, where one "side effect" of widespread contraception is a shrinking labour force.
|
|
This policy, underminding female labour force participation, would seem to contradict President Donald Trump's professed commitment to women's economic empowerment.
|
|
In fact Ms Yellen has long warned that many drivers of labour-force participation are beyond the central bank's control.
|
|
At first this helped the labour-force participation of prime-age workers, which fell worryingly after the crisis, to surge.
|
|
Women in these countries are more likely than men to have a university degree and be in the labour force.
|
|
They're getting back into the labour force and they're finding fulfilment that maybe they didn't have in a weaker economy.
|
|
It is the result of a decline in labour-force participation: many people are neither working nor looking for work.
|
|
And nearly a fifth were out of the labour force, a share twice as high as among similarly qualified men.
|
|
There have been pockets of success in supply-side reform since 2013, such as a rise in labour force participation.
|
|
The country's labour force grew by 99,000 people in the first quarter to reach 28.4 million people, the agency said.
|
|
Germany is enjoying a bonanza of tax revenue following a surge in the size of its labour force (see article).
|
|
The skewed labour force affects the distribution of wealth between men and women, and thus their respective roles in society.
|
|
"We need policies for the labour force we have, not the highly skilled one we wished we had," she says.
|
|
Perhaps 0.5% of the labour force are programmers, and most of them are working to maintain and fix existing systems.
|
|
Both the employment-to-population rate and the labour-force participation rate remain seriously depressed relative to pre-crisis levels.
|
|
As women joined the paid labour force in increasing numbers, more household responsibilities were shoehorned into the hours outside work.
|
|
The decline in the unemployment rate was because people left the labour force, suggesting some slack in the jobs market remains.
|
|
Steadily rising wages have on balance been keeping workers in the labour force and drawing back those who had dropped out.
|
|
It is particularly so now because it must be achieved as the population ages and growth in the labour force slows.
|
|
The share of the labour force with any kind of higher education increased from 1.1% in 1980 to 12.5% in 2015.
|
|
But India stands out, as its female labour-force participation rate is well below those of countries at comparable income levels.
|
|
The labour-force participation rates for older workers there have risen in lock-step, with a one- to two-year lag.
|
|
The Britons who made up a hefty slice of the fruit-picking labour force as late as the 1990s are gone.
|
|
In the first quarter of 2017, 65% of top professional adults in Britain were married, according to the Labour Force Survey.
|
|
Many Afghans living in Pakistan have been living in the country for decades and contribute significantly to the country's labour force.
|
|
So the second indicator is labour-force participation, which counts workers, employed or not, as a percentage of the working-age population.
|
|
Workers in rural areas, who still make up about half the total labour force, never had much coverage of any kind anyway.
|
|
A report in July by Colliers, a real-estate firm, heralded a "labour-force boomerang" as professionals come back from the west.
|
|
America under President Donald Trump rose from 20th to 19th place thanks in part to a higher female labour-force participation rate.
|
|
Medium-term growth prospects are constrained by barriers to competition, the large informal sector, perceived corruption and low labour force participation rate.
|
|
In America, the only rich country with no such entitlement for new mothers, many of them drop out of the labour force.
|
|
A recent study by Patrick Joyce, a Swedish economist, compared refugee labour-force integration in Denmark, Germany, the Netherlands, Norway and Sweden.
|
|
By most estimates they make up less than 1% of the EU labour force (far more Europeans choose to work abroad permanently).
|
|
Whatever the cause, the evidence is that plenty of unskilled women on the edges of the labour force can be tempted in.
|
|
We know that development, imposed by external forces that exploit the local labour force is not in the interest of the marginalised.
|
|
It sees factories as the ideal way to soak up the million-odd young workers who join the labour force every month.
|
|
It said a small further increase in the retirement age could provide a substantial contribution to the labour force in the future.
|
|
Global decline in birth rates decades ago set low labour force growth in motion, and capitalists will do their best to compensate.
|
|
Good local universities and schools provide a skilled labour force; pleasant nearby villages and countryside somewhere unconcreted for senior executives to live.
|
|
This is partly because fewer women participate in the labour force, and those that do tend to have higher levels of education.
|
|
There have been pockets of success, particularly in increasing labour force participation and more recently, converting part-time workers to full-time.
|
|
Aramco worked hard to professionalise its labour force, but the fact Jungers mentioned religious differences so prominently underscores the potential for tension.
|
|
Those doing the discriminating also lose out, from a smaller labour force in which too many people are doing the wrong jobs.
|
|
However, wage gains did not accelerate, and the decline in the unemployment rate was driven largely by people leaving the labour force.
|
|
Our jobs index for white working-class men gathers together three statistics: the unemployment rate, the labour-force participation rate and hourly wages.
|
|
Yes, unemployment is low, but labour-force participation by prime-age adults remains below the pre-crisis level, and wage growth is weak.
|
|
Just 53,000 Americans work in coalmining, according to the latest calculations from the Bureau of Labour Statistics—roughly 0.03% of the labour force.
|
|
Some 80% of the population called themselves working-class, and the share of manufacturing workers in the labour force rose into the 1950s.
|
|
The result is excellent living standards, high wages and impressive rates of female labour-force participation (parental leave is generous for both sexes).
|
|
He wants to deport many of America's 11m illegal immigrants, which could reduce the size of the labour force by up to 5%.
|
|
In 21990 Mao Zedong enjoined female labourers to hold up "half the sky"; by the 236s their labour-force participation hovered around 463%.
|
|
We found that: Refugees' labour force participation (275%) and employment rates (28%) exceeded those of the total American population (291% and 60%, respectively).
|
|
Thus when the new definition is implemented, an unchanged number of unemployed people will constitute a higher percentage of a smaller labour force.
|
|
In Canada, for example, it could explain around half the change in the labour-force participation rates of married men aged 55-64.
|
|
In 1902 the Lackawanna Steel Company left north-east Pennsylvania in search of better access to transport and a less assertive labour force.
|
|
It combines data on higher education, labour-force participation, pay, child-care costs, maternity rights, business-school applications and representation in senior jobs.
|
|
A slowdown in labour force expansion would reduce UK productive potential growth, implying more inflationary pressure for any given growth in aggregate demand.
|
|
The female participation rate in the labour force increased from 20133% to 22013% over a period of three years, which is a lot.
|
|
In America the share of women of working age in the labour force has risen from 42% in 1960 to 68% in 2017.
|
|
The country's labour force grew by 33,000 people in the second quarter from the first quarter, reaching 29.2 million people, the agency said.
|
|
Today nearly 10% of disabled workers who were outside the labour force a year ago are employed, a figure that has been steadily rising.
|
|
Foreign workers add to the labour force themselves, help native women take fuller part in it, and help them bear the workers of tomorrow.
|
|
This year Sweden ranks first, scoring well in female labour-force participation, which is over 80%, and the share of women in parliament (44%).
|
|
By one estimate, posted workers account for one-third of the labour force on construction sites in Belgium (where labour taxes are eye-watering).
|
|
Careful academic studies have linked competition by Chinese manufacturers to the growing propensity of prime-aged men to drop out of the labour force.
|
|
Adding middle-management is hardly the hallmark of a firm set on trimming its labour force (though some say hours have been cut instead).
|
|
A previously released monthly survey from Statistics Canada, the Labour Force Survey, has also showed strong job gains at the start of the year.
|
|
The OECD reckons, for example, that increases in paid leave up to a total of two years raise women's participation in the labour force.
|
|
Many have left the labour force (54% of over-25s with only a high-school education are in work, down from 63% in 2000).
|
|
It said it expected the Danish economic recovery to remain on track, supported by a growing labour force and stronger global and domestic demand.
|
|
This year fully two-thirds of all workers joining the labour force will be university graduates, up from around half just three years ago.
|
|
About 24% of the labour force, or 186 million people, "could face some risks in salary reduction or even being laid off", he said.
|
|
This counts the number of jobless people who have actively sought work in the past four weeks, as a percentage of the total labour force.
|
|
And as the whole of China is getting older and its labour force is shrinking, the flow of migrants into the region is drying up.
|
|
Official statistics on the gig economy are poor, and labour-force surveys are rarely up to the job of tracking people who use online platforms.
|
|
Ms Kuziemko and colleagues suggest one reason behind this unexpected exit from the labour force: women find parenthood more demanding than they thought they would.
|
|
As more people retire, and fewer younger ones take their place, the labour force will shrink, so output growth will drop unless productivity increases faster.
|
|
The top universities are citizens of an international academic marketplace with one global academic currency, one global labour force and, increasingly, one global language, English.
|
|
That chimes with the experience of places heavily exposed to imports, where labour-force participation has fallen and reliance on government disability insurance has risen.
|
|
Indeed, some 26.7m people say they want a job, but are not technically in the labour force because they have not recently looked for one.
|
|
Over the past eight or so years, the time young men outside the labour force spent gaming rose from 3.6 to 6.7 hours per week.
|
|
The Islamic Republic's labour force is expected to grow by 2.5% annually in the five years to 2020, equivalent to about 3m new job seekers.
|
|
For example, the effect of Chinese imports on the size of the labour force falls to a quarter of its 1990s size in the 2000s.
|
|
A 35-country study by Allison Milner of Griffith University and colleagues suggested rising female labour force participation is associated with increased male suicide rates.
|
|
It would not only expand the labour force and create new taxpayers, but would mean more and younger companies, and greater openness to new technologies.
|
|
She argues that jobs have grown more slowly in recent upswings because women's participation in the labour force is no longer converging quickly with men's.
|
|
That coincided with women's growing importance in the labour force as their share of jobs rose from 33% to 42% over the preceding two decades.
|
|
Such policies can have a large impact on labour-force participation, particularly for women, suggests research by Francine Blau and Lawrence Kahn, published in 20143.
|
|
Over the past decade South Africa's labour force has grown by almost 503m, but the number of people in employment has increased by only 2m.
|
|
A person coming into an inheritance above $2000,222 is four times more likely to leave the labour force than someone who inherits less than $303,230.
|
|
They found depressed wages and labour-force participation and elevated unemployment persisted for a decade or more after rapid growth in trade with China began.
|
|
Most is at stake in Saudi Arabia, where the unemployment rate is already 0003% and only 40% of adult citizens are in the labour force.
|
|
To generate growth in our ageing world may require a big improvement in productivity, or a sharp jump in labour-force participation among older workers.
|
|
Thanks to its skilled labour force and excellent infrastructure, China remains an outstanding place to make things, hence its continued strength in numerous sectors (see chart).
|
|
Foreign workers add to the labour force themselves, they help native women take fuller part in it, and they help them bear the workers of tomorrow.
|
|
It wants to provide free nursery school for every child, which should bring more women into the labour force and raise productivity in the long run.
|
|
Only 30m people out of a labour force of 118m are registered with the tax office and only 10m of them file a tax return regularly.
|
|
And one of the things that's a big shock to me is the labour-force participation is really surprised on the upside even of our forecast.
|
|
The proportion of working-age men without qualifications who were not active in the labour force increased from 4% in the mid-1990s to 30% today.
|
|
According to McKinsey, 72% of the region's economic growth between 2000 and 2016 was owing to the expansion of the labour force rather than higher productivity.
|
|
Alan Krueger, an economist at Princeton, has found that increased opioid prescription could account for 20% of the decline in male participation in the labour force.
|
|
The government has pledged to push the female labour-force participation rate past 40% in the next five years, but it has hardly led by example.
|
|
Although the share of women in the labour force has crept up a little, to 64%, it is still 16 percentage points below the male average.
|
|
But job growth in March was revised downward to 79,000 from 98,000, and the labour force participation rate dipped slightly to 62.9 percent from 63 percent.
|
|
She wants to interview people for Britain's Labour Force Survey (LFS), which is the basis for a host of important economic statistics including the unemployment rate.
|
|
But job growth in March was revised downward to 79,000 from 98,623, and the labour force participation rate dipped slightly to 62.9 percent from 63 percent.
|
|
Women in their late 343s and early 30s are responsible for nearly 40% of labour-force growth since prime-age participation bottomed out in August 2015.
|
|
India's labour force will soon overtake China as the world's largest, but the country is struggling to generate opportunities for a workforce with the wrong skills.
|
|
Reuters was able to identify at least five companies that have recently cut or plan to cut hundreds of jobs, mainly from their temporary labour force.
|
|
If you're going to go through your life and have periods where you're not in the labour force, you better figure out how to save money.
|
|
"Continued weak productivity growth, relatively high labour costs, plus weakening labour-force participation are lessening economic capacity to support good outcomes in wellbeing," the OECD wrote.
|
|
The unemployment rate dropped to near a 17-1/2-year low of 110.053 percent, although this was driven in part by Americans leaving the labour force.
|
|
The two-tenths of a percentage point decline in the unemployment rate from 2898 percent in March was because 415,000 people left the labour force in April.
|
|
You don't have to be a feminist to accept that investing in girls' education or in women's labour-force participation will generate a high return on investment.
|
|
The unemployment rate—the number of people looking for work as a share of the total labour force—is at its lowest in decades (see chart 1).
|
|
The Nordics are particularly good at getting women to complete university (around half earn a degree) and secure a job (some 75% are in the labour force).
|
|
The proportion of working-age men without qualifications who are "not active in the labour force" is more than 40% today compared with 4% two decades ago.
|
|
In the 2016 annual pay round, when government observers join talks for the permanent, unionised section of the labour force, Mr Abe asked Keidanren to raise wages.
|
|
Job growth during the first four years of the recovery was dismal, wage growth has been weak throughout, and employment and labour-force participation rates remain depressed.
|
|
The unemployment rate dropped to near a 17-1/2-year low of 3.9 percent, although this was driven in part by Americans leaving the labour force.
|
|
Despite low unemployment, overall wage growth has not risen much in America, perhaps because a large army of discouraged low-skilled workers have been rejoining the labour force.
|
|
"If Pakistan wants to get to 7-8 percent (growth) with structural reforms, they also have to much more in drawing women into the labour force," he said.
|
|
Vietnam has one of the highest female labour-force participation rates (ie, the proportion of women who are in paid work or looking for it) in the world.
|
|
The San Francisco Fed's researchers also note that many low earners have recently joined the labour force (such workers are usually the last to benefit from economic expansions).
|
|
She said there was employment to be found in factories in the area that did not require a skilled labour force and training would be provided to staff.
|
|
The US economy is likely to suffer from a lower trend growth rate, thanks to a fall in the labour force participation rate (as the baby boomers retire).
|
|
"At the same time, an increase in net entrants to the local labour force in the last quarter contributed to a slightly higher resident unemployment rate," it said.
|
|
Some reckon the introduction of artificial intelligence to workplaces, to make up for the falling labour force and poor productivity, will actually push down wages in many industries.
|
|
Miss Suu Kyi's government says that agriculture will rank among its top priorities, which makes sense: directly or indirectly the sector employs around 70% of the labour force.
|
|
The energy-producing country relies on about 2 million migrant workers for the bulk of its labour force, mainly from Asian countries like Nepal, India and the Philippines.
|
|
Perhaps that was the best they can do; the engines of economic growth are productivity and labour force changes, neither of which central banks can do much to influence.
|
|
In many countries immigrants have been filling such gaps in the labour force as have already emerged (and remember that the real crunch is still around ten years off).
|
|
In 2013 the world's labour statisticians resolved to change the definition of the labour force, excluding people, such as subsistence farmers, who produce goods for their own family's use.
|
|
Unemployment rates in these places have largely converged again, whereas overall employment rates have not, suggesting that some workers were so deterred that they left the labour force altogether.
|
|
But Macron has all but won the war over the SNCF, delivering a powerful blow in his campaign to modernise France's labour force and end a long economic malaise.
|
|
Agriculture contributes more than a quarter of Tanzania's gross domestic product (GDP) and employs around 75 percent of the labour force, but growth is stifled by low crop yields.
|
|
What is remarkable about the chart is that one would expect the labour force participation rate to rise as unemployment falls; until recently, the two have dropped in tandem.
|
|
An OECD study estimated that if the labour-force participation rate for men and women was the same by 2030, GDP growth would increase by 0.9 percentage points annually.
|
|
The fact hiding behind this Trumpism is that America's labour-force-participation rate—the fraction of the population either in a job, or looking for one—is only 63%.
|
|
The growth impact of the migrant inflows over the last year is likely to be mildly positive, although it will take time to absorb migrants into the labour force.
|
|
Egypt had been counting on high growth to absorb 700,000 new workers who will enter the labour force every year for the coming five years, according to IMF estimates.
|
|
"Vietnam has benefited from its participation in regional trade pacts, a young and educated population, a still-cheap and growing labour force, and geographical proximity to China," he said.
|
|
According to Chinas top e-cigarette trade association, the labour force across the industrys supply chain in the country shrank approximately 10% last autumn due to regulations dampening demand.
|
|
The country's unemployment rate increased to 212% in the first quarter of 22016, up from 15.18613% in the fourth quarter of 215.1861, according to the Quarterly Labour Force Survey.
|
|
A study published in 2012 by Booz Allen Hamilton, a consultancy, estimated that increasing the labour-force participation of American women to that of men would boost output by 5%.
|
|
Much of the industry is still controlled by South Africa's white-minority more than two decades after demise of apartheid, while black people make up most of the labour force.
|
|
When the jobs on offer are poor, that cushion, though meagre, can be enough to draw people out of the labour force into indolence—particularly if families offer extra help.
|
|
Or laid-off workers might find their skills and links with the labour force eroding over time, making it harder to find new jobs as good as their old ones.
|
|
A series of recent papers shows that the most affected labour markets have experienced a long period of depressed wage growth, low rates of labour-force participation and high unemployment.
|
|
The labour-force participation rate of "prime-age" workers aged between 25 and 54, although still below where it was before the financial crisis, has been rising steadily since 2015.
|
|
In 2005, 60% of women were in the labour force; ten years later, this ratio had edged up only slightly to 63% (it was 163% for men in both years).
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Partly because South Korea invested little in social care, women had to choose between having children, which lowers labour-force participation, or remaining childless, which reduces the country's fertility rate.
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They reckon long periods of limp growth eat away at an economy's productive potential, as investments go unmade, for instance, or as healthy workers drop out of the labour force.
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Americans of working age are still participating in the labour force at a lower rate than before the recession, and productivity growth has been notoriously weak since the financial crisis.
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In America, labour-force participation (ie, the proportion of people either in or looking for work) among people of "prime age" is much lower than it was a decade ago.
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In that period, London (which is relatively youthful) will see the share of its labour force under 30 fall by a quarter and the share over 50 rise even more.
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Cross-country analysis by Katharina Wesolowski and Tommy Ferrarini of Stockholm University similarly found that unemployment reduces fertility while higher female labour force participation is associated with higher birth rates.
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Other European countries could do a lot more along these lines to increase the chances that refugees' role in the labour force is complementary to native workers, rather than competitive.
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Our analysis of the labour-force survey suggests that between 2011 and 2016 the number of people who spent at least two hours a day commuting rose by a fifth.
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"Employment conditions are notably higher so far this year, despite pulling back a little in February, and suggest better labour market conditions than the official labour force survey," said Oster.
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"Undocumented migrants in the U.S. labour force could worsen the risk of modern slavery across key states", Aygun Kazimova, principal analyst of analytics at Verisk Maplecroft, said in the report.
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But a TUIFly board member representing the labour force said on Friday a second European carrier could be interested in buying the airline, part of travel and tourism group TUI .
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China could, in theory, mitigate the downside from its ageing by boosting both labour-force participation and productivity—that is, getting more people into work and more out of them.
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To slow the shrinking of the labour force, it is encouraging more women (who have tended to drop out of jobs when they have babies) and more old people to work.
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In 1999 77% of prime-age American women were part of the labour force, according to the OECD, a club of mostly rich countries—on a par with Germany and Britain.
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"I want businesses to think first about locally training people where possible... and work with us to deliver what we need to have which is a more skilled local labour force."
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The IMF also said the ruling Law and Justice (PiS) party should reconsider a pledge to reduce the retirement age as the plan may hurt public finances and labour force participation.
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Arithmetic suggests this pledge is fanciful: even if the labour-force participation of 25- to 54-year-olds returns to its record high, only 4.3m new workers will appear by 2024.
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The labour-force participation rate for 25- to 54-year-olds, which tumbled after the recession, has recovered about a third of its decline, after its fastest growth spurt since 1985.
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To fill shortages in the labour force caused by the shrinking working-age population, government policy has focused on getting more women and old people into work, and using artificial intelligence.
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School reforms would take a generation to be felt, but better training for the existing labour force could create more jobs within a year, argues Chatib Basri, a former finance minister.
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There is no "right" level of labour force participation that can be determined; the rate was below 60% for much of the 1950s and 1960s before more women joined the workforce.
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Since that low, however, participation has come back into fashion: 22007m Americans have joined the labour force in the last six months, pushing the rate back up by 20123 percentage points.
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Egypt, with a rapidly growing population that just topped 100 million, had been counting on high growth to absorb hundreds of thousands of workers who enter the labour force each year.
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This group also forms a big chunk of the labour force: non-Hispanic white men aged 19903 to 65 with a high-school diploma or less make up 23% of male workers.
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The labour force participation rate, or the proportion of working-age Americans who have a job or are looking for one, fell to 62.8 percent in April from 63.0 percent in March.
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The data also showed the unemployment rate as measured by the Labour Force Survey (BAEL) rose to 7.0 percent in the first quarter of 2016 from 6.9 percent in the previous quarter.
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The Hartz reforms certainly succeeded in pushing some workers back into the labour force and into work; one analysis suggests they reduced Germany's structural unemployment rate by 1.4 percentage points, for instance.
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Although a vocational education promises that vital first hire, those with specialised training tend to withdraw from the labour force earlier than those with general education—perhaps because they are less adaptable.
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Nor need the government worry about a slightly weaker economy causing unemployment: with the labour force shrinking as the population ages, help-wanted ads are popping up in shops across the country.
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On average, across the OECD women are more likely to have a degree than men, but they are still less likely to be in the labour force and are paid significantly less.
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Post-war recessions have generally been milder because of shifts in the composition of the economy, labour force and sources of personal income (The American business cycle: continuity and change, Zarnowitz, 1986).
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Post-war recessions have generally been milder because of shifts in the composition of the economy, labour force and sources of personal income ("The American business cycle: continuity and change", Zarnowitz, 1986).
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Several western European states, notably France, were hopping mad at the easterners for posting lower-paid workers to their countries, even though such employees represent just 0.7% of the EU labour force.
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Greying Germany, expected to lose 10m of its current population of 73m by 2060, desperately needed an injection of young workers to boost its labour force and prop up its pension schemes.
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The increased presence of women in the labour force has prompted the government to create 200,000 extra places in nurseries, and to make life harder for employers who discriminate against pregnant employees.
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KEY RATING DRIVERS Solid Profitability: Fitch expects KT's margins to continue to benefit from lower marketing and selling, general and administrative costs following a restructuring to streamline its business and labour force.
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It would be the biggest overhaul of the system since World War Two and is central to the president's drive to make the French labour force more flexible and more competitive globally.
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One idea is to keep the 62-year limit, but rein in benefits for those who leave the labour force before 64 and give a benefits boost to those who leave afterwards.
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Finance Ministry chief economist Yoel Naveh said the state was working on it, but it would take time since Ultra-Orthodox Jews and Arabs were not overly eager to join the labour force.
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PRETORIA, Aug 7 (Reuters) - South Africa's unemployment rate remained unchanged at 27.7 percent of the labour force in the second quarter from the first quarter, data from the statistics office showed on Monday.
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In its quarterly labour force survey, which polls households, Statistics South Africa said this amounted to 6.177 million people without jobs in the three months to end June, compared with 6.214 million previously.
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Take into account the swelling labour force, and Mexico looks even worse: GDP per worker expanded by just 0.4% a year, while total factor productivity (a measure of the economy's efficiency) barely grew.
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Mary Kate Batistich and Timothy Bond, of Purdue University, have recently estimated that the "Japan shock" explains about one-fifth of the fall in African-Americans' labour-force participation between 1970 and 1990.
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The Economist has calculated that, if participation in every age and sex demographic group continues on its trend from the past year, the labour force will grow by around 135,000 workers a month.
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KenCall, Kenya's leading outsourcing company, has suffered repeated losses since it was created in 2005 despite a well-educated, English-speaking labour force and efforts by the government to sell the sector abroad.
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South African mining companies must comply with a number of social and labour regulations, including providing proper housing, to help a mostly black labour force that was exploited and ill-treated under apartheid.
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PRETORIA, Oct 31 (Reuters) - South Africa's unemployment rate remained unchanged at 27.7 percent of the labour force in the third quarter from the second quarter, data from the statistics office showed on Tuesday.
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The fact that the labour force has been growing by enough to keep the unemployment rate stable despite rapid employment growth suggests that there is the potential to bring more people into work.
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Even though a similar share of Dutch women are in the labour force as elsewhere in western Europe, their contribution to GDP, at 33%, is far lower, largely because they work fewer hours.
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The proposed reform would be the biggest overhaul of the system since World War Two and is central to the president's drive to make the labour force more flexible and more competitive globally.
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The OECD has estimated that over the next three decades the age-related decline in the labour force could cut growth in its member countries by a third compared with the previous three decades.
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It is related to a devastating rise of opioid abuse and an associated increase in overdose deaths and suicides among non-college-educated Americans—the group where labour-force participation has fallen most precipitously.
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There has been an increase in the share of women in the labour force, with a tertiary education and of those taking business-school entrance exams, which are a pipeline for senior executive jobs.
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In summarising the literature on the subject, the Congressional Research Service, the legislature's public-policy group, notes that in practice neither labour-force participation nor hours worked move much in response to tax changes.
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In its quarterly labour force survey, which polls households, Statistics South Africa said this amounted to 6.2 million people without jobs in the three months to end September, compared with 6.177 million people previously.
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With over a billion wireless connections and just about 480 million smartphones, India offers device makers huge room for growth, and its massive labour force provides companies a cost-effective alternative than neighbouring China.
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The proposed reform would be the biggest overhaul of the system since World War Two and is central to the president's drive to make the French labour force more flexible and more competitive globally.
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South Africa's mines are the deepest and among the most dangerous in the world but industry fatalities have been falling, a trend rooted in improved safety practices and a shrinking labour force as production declines.
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America's Bureau of Labour Statistics produces perhaps the widest official measure of unemployment, which includes involuntary part-timers as well as those who have dropped out of the labour force but nonetheless want to work.
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In 1990, after two decades in which women had piled into the workforce, America's female labour-force participation was sixth-highest among 22 rich countries studied by economists Francine Blau and Lawrence Kahn in 2013.
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In regions where the products manufactured by local firms were most vulnerable to an influx of cheap, Chinese imports, wages and labour-force participation remained depressed a decade after the onset of the "China shock".
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The unemployment rate has climbed despite a fall in the number of job seekers, Mahesh Vyas, head of the Mumbai-based think tank told Reuters, citing an estimated fall in the labour force participation rate.
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Annual growth averaged 3.1% in 2012-2015, compared with 4.5% in 2004-2011, due in part to slower working-age population growth, less productive additions to the labour force, sluggish world-trade and competitiveness challenges.
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The best measure might not be the unemployment rate, which measures those entitled to claim benefits, but the labour force participation rate, which calculates the proportion of those of working age who are in employment.
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The push of women into the labour force started in America, the Nordics and the Antipodes in the 1960s and gradually spread to other rich countries, with Spain and the Netherlands bringing up the rear.
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Annual growth averaged 3.3% in 2012-2016, compared with 0003% in 2004-2011, due in part to slower working-age population growth, less productive additions to the labour force, sluggish world-trade and competitiveness challenges.
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Macron was elected in May 2017 against a far-right candidate on a promise to create jobs and drive growth by cutting corporate taxes, easing France's rigid labour regulations, and developing a more skilled labour force.
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A new paper by Ilyana Kuziemko, an economist from Princeton, and her colleagues suggests one reason why this "mommy effect" persists even while men and women who aren't parents now see comparatively equal labour-force participation.
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Over the past 12 months the labour-force participation rate of so-called "prime-age" workers—those between 225 and 221—is up by just under one percentage point, the fastest growth recorded since January 230.
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You don't have to be a feminist to recognise, as Austria did, that the numbers show how lowering income tax on second earners will encourage women to join the labour force, boosting growth and tax revenues.
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The official rate of unemployment is a ratio of the number of people counted as unemployed to the number considered to be in the labour force, which includes everyone who has a job or wants one.
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A RECENT analysis of earnings trends in America suggested that women earned 49 cents for every dollar earned by men between 22012 and 212, thanks both to lower participation in the labour force and lower pay.
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So it is a relief that over the past two years, as the labour market has improved, Americans aged 287 to 225 (prime-age, in the jargon) have been joining the labour force in greater numbers.
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Mr Bernanke argues that Fed officials are willing to be a little patient with the economy, to see whether running it a little hot brings more workers into the labour force and encourages productivity-enhancing investments.
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The pathway for economic development is now clear but will KSA (Kingdom of Saudi Arabia) make the right investments to energise growth and provide jobs for a young, growing labour force whose patience is not unlimited?
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Despite rising levels of literacy, the proportion of working-age women in India's formal labour force is only about 27 percent, compared with almost 60 percent in Britain and the United States, World Bank data shows.
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That is why Free Lunch's exercise, which assumes that the labour force can grow as fast as the population does, sees Mr Trump hitting his 25m target, whereas ours, which focuses on prime-age workers, does not.
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In a confirmation hearing before a Senate panel on November 28th, he seemed, if anything, a little more doveish, acknowledging that low labour-force participation among working-age men might indicate remaining slack in the labour market.
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Mexico's trade linkages with the US are stronger than those of China, but the scenario sees some offsetting benefits from 15% peso depreciation and faster domestic labour force growth, as net migration to the US is reversed.
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It is over-dependent on oil and gas exports; it is failing to secure enough investment to modernise its ageing infrastructure; and productivity is struggling to keep up with wage growth driven by a shrinking labour force.
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Chinese imports have not squeezed American manufacturing workers into less labour-intensive industries; they have squeezed them out of the labour force altogether, according to David Autor of the Massachusetts Institute of Technology and his co-authors.
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DUBAI, March 20 (Reuters) - Qatar has removed exit visa requirements for an additional segment of its foreign labour force, including some of those working in the oil and gas industry, according to official tweets posted on Friday.
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This special report will chart some of the efforts being made to connect education and employment in new ways, both by smoothing entry into the labour force and by enabling people to learn new skills throughout their careers.
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Indeed, a cross-country study in 2015 by researchers at the Hoover Institution suggests that people with a vocational education are more likely than those with a general education to withdraw from the labour force as they age.
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If Mr Trump returns the participation rate in each age-bracket to its level in 1998—when, as Free Lunch notes, the prime-age participation rate peaked—the labour force will grow by only 8.3m workers by 2026.
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In Austria it resulted in reform to reduce taxation on secondary earners, which had impeded women's labour force participation, and a reallocation of funds to combat domestic violence, which exacts huge costs in medical treatment and lost labour.
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Early in the recovery, the unemployment rate began to drop even though hiring remained weak, because workers frustrated by the lack of jobs stopped looking for work and were no longer counted as part of the labour force.
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With the labour force participation rate at close to a 40-year low, the pool of available workers could in part be increased by skilling up people currently sitting on the sidelines but also through immigration, Prising said.
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"When nearly fifty percent of the labour force is unable to live up to its potential, India is foregoing significant growth, investment, and productivity gains," said Milan Vaishnav, director of the South Asia programme at the Carnegie Endowment.
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The city's economy is well-developed and attractive to investors, as it benefits from the city's location at the crossroads of the main Polish rail and road corridors, and from a well-educated and highly qualified labour force.
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President Emmanuel Macron's proposed reform to streamline France's byzantine pension schemes is the biggest overhaul of the system since World War Two and is central to his ambition to make the labour force more flexible and competitive globally.
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"It's inconceivable for North Korea to complete such a large project without these brigades, but there's no way they have the full labour force they need, which is why they're trying to mobilise more through state media," Cho said.
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Some economists reckon that running the economy "hot", to the extent that demand outstrips its productive potential, could nurture growth in America's economic capacity: by bringing workers on the margins of the labour force back into employment, for example.
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WINDHOEK, May 24 (Reuters) - Namibia's unemployment rate increased to 34 percent of the working population last year from 1.53 percent in 2014, the last time a labour force survey was conducted, the Namibia Statistics Agency (NSA) said on Wednesday.
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The problem does not seem to be that parents, pushed into the labour force by reforms, are spending less time on parenting; the researchers suggest that the problem may be the quality of parental engagement rather than its quantity.
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A paltry 21984% of working-age boricuas are in the labour force, and just 29% of personal income in Puerto Rico comes from formal private jobs, compared with 22014% for the 29 states, according to José Villamil, an economist.
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The Bureau of Labour Statistics projects that the labour force will grow by an average of 19773% a year from 21977 to 280, down from 22013% annually from 1994 to 2004, because of ageing baby-boomers and low fertility.
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That may be because they have had plenty of younger ones to choose from, partly thanks to the post-war baby-boom and partly because over the past few decades many more women have entered the labour force, increasing employers' choice.
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Similarly, slashing funding for public services such as child care, which is a common way to reduce public deficits, requires women to provide more unpaid labour at home, which in turn constrains their ability to participate in the labour force.
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Young people on average are more likely to be registered as unemployed than their elders, in part because they are less skilled but also because older folk who lose a job may retire and thus drop out of the labour force.
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Unlike the older statistic, which counts only those registered as jobless at local labour offices, the new measure draws on a survey of the labour force, collected by trained enumerators and beamed directly to Beijing beyond the grasp of local officials.
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A study by the finance ministry shows that, despite efforts to boost jobs for Haredim, their participation rate in the labour force has fallen by three percentage points to 51%, compared with 89% in the rest of the Jewish population.
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The authors propose one benign explanation for the apparent negative pre-natal impact on earnings: the introduction of maternity leave could have led some women to join the labour force in low-paid jobs before pregnancy, so lowering average earnings.
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Unlike income taxes, they do not destroy the incentive to work—whereas research suggests that a single person who inherits an amount above $150,000 is four times more likely to leave the labour force than one who inherits less than $25,000.
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The introduction of convict labour in a county in 1870-1886 accounted for 16% slower growth in manufacturing wages in 1880-1900, 20% lower labour-force participation, and a smaller employment share in factories than there would otherwise have been.
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We are putting forward pure social democrat ideas like universal free childcare (we are the first country in Europe, perhaps in the Western world, to introduce that) which has unleashed the tremendous, previously untapped potential of the female labour force.
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In the US the Bureau of Labor Statistics predicts that for the period up to 2024, both the 65-113 age group and those aged 75-plus will have faster rates of labour force growth annually than any other age groups.
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High foreign-worker labour-force participation and concerns about rising income inequality and social needs arising from an ageing population are increasingly important political issues, although we do not see them as a risk to political stability at this stage.
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The unemployment rate remained unchanged at 27.7 percent of the labour force in the second three months of this year, with the absolute number of unemployed down slightly to 6.177 million from 6.214 million, data from the statistics office showed.
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The central bank is also seen improving its unemployment outlook after the latest labour force data reflected unemployment hovering at an 11-year low of 4.8 percent with a gentle lift in wage growth to 2.8 percent by the end of 2016.
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In Germany, where the labour force is due to start shrinking from next year, a study by the Institute for the German Economy in Cologne identified a shortage of about 70,000 engineers in 603, a rise of nearly half on the year before.
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That the unemployment rate tumbled from 5% to 4.7% was no consolation: it was caused by falling labour-force participation, which is now back where it was at the start of the year (though a little higher than its trough in September).
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Many analysts say, however, that the government figure is an unreliable indicator of national employment conditions as it measures only employment in urban areas and also doesn't take into account the millions of migrant workers that form the bedrock of China's labour force.
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Across the OECD, female labour-force participation has risen from 47.6% in 1970 to 64% now—though in many countries the rise has slowed or even halted as women have found out how hard it can be to combine career and family.
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Banks are also hoping for more growth in consumer banking as the government lifts a ban on female driving and seeks to raise the proportion of Saudi women in work from the current level of roughly 10 percent of the labour force.
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In the world without children, fewer young people would need care, so potentially rebalancing the gendered earning discrepancies, but ultimately our public means of caring for older people, CPP and private pension plans, would collapse without new workers coming into the labour force.
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"My dad used to sell fruit and veg but just after the war, when they brought black people over to help the labour force out, he started selling this stuff," Barry says, gesturing at the piles of West Indian veg on offer.
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Qatar, which relies on about 2 million mainly Asian migrant workers for the bulk of its labour force, has banned foreigners from entering the country until the end of this month and Saudi Arabia has suspended all international flights for two weeks.
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Foreign firms account for one in 2500 jobs in Ireland's fast growing economy and they added a net 13,867 roles in 2019, just shy of the record 14,000 gains in 2018, IDA Ireland said in its annual labour force survey on Wednesday.
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Many analysts say, however, that the official data is an unreliable indicator of employment conditions because it only measures employment in urban areas and does not take into account the millions of migrant workers who form the bedrock of China's labour force.
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In a recent essay Brad DeLong, an economic historian at the University of California, Berkeley, reckoned NAFTA might be blamed for net job losses of the order of 0.1% of the American labour force—fewer jobs than the American economy adds in a typical month.
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Correspondingly, a central bank that responded to recession by allowing unemployment to fall to inflation-stoking levels might find that this overheating lures discouraged workers back into the labour force, and pushes firms to give them the training and equipment they need to thrive.
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"The combination of rising employment and increased labour force participation suggests healthy but not tightening labour market conditions in June, something that will allow the Fed to continue to hike rates at a gradual pace," said Kevin Cummins, a senior U.S. economist at RBS.
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It said the underemployment rate for 15-24 year olds at 18 percent of the youth labour force is the highest on record, reflecting the precarious nature of work in "gig economy" Australia, which may be hitting even stable businesses such as supermarket chains.
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Today's combination of stagnant pay and falling labour-force participation is serious, but it is not on a par with, say, the Depression or the world wars that bracketed it, which drove the expansion of the state's role in the economy (see chart 4).
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LONDON, June 3 (Reuters) - U.S. productivity may be returning to the slow growth rates seen after the 1973 oil price shock which, combined with less labour force growth, will push down on real interest rates, Chicago Federal Reserve Bank President Charles Evans said on Friday.
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How immigration is changing the Swedish welfare stateJune 23rd Swedes are rightly proud of their "Scandinavian model" of welfare that combines high taxes, collective bargaining and a fairly open economy, and delivers excellent living standards, high wages and impressive rates of female labour-force participation.
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They range from broad social and demographic trends such as urbanisation, changes in family structure and the large-scale move of women into the labour force in recent decades to a shifting emphasis in policy on the early years and the march of digital technology.
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Today, debt is 803 per cent of GDP, productivity is flat and, not only have the major gains from female participation in the labour force been realised, but birth rates are lower, and the president is doing the best he can to limit immigration.
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PARIS, Dec 11 (Reuters) - The French government's pension reform will apply in full to new entrants to the labour force from 2022, Prime Minister Edouard Philippe said on Wednesday as he unveiled the details of a draft reform to overhaul the country's byzantine pension system.
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In Japan the percentage of women in the labour force has increased quickly in the past ten years; in the Philippines 142 women hold professional or technical jobs for every 100 men; China boasts 843 of the world's 147 female, self-made billionaires (America has 14).
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Indeed, retirees are now putting in longer hours than many youngsters: in Britain someone over the state-pension age but under 70 who has a degree is now more likely to be in the labour force than a 16- to 24-year-old with no qualifications.
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Douglas Holtz-Eakin, a Republican who served on George W. Bush's CEA, called criminal-justice reform a "rare public-policy moment" that offers both parties a chance to save taxpayers money, help more people into the labour force, strengthen families and reduce poverty without sacrificing public safety.
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The Way AheadOctober 8th | Briefing On the eve of his final 100 days in office, Barack Obama wrote for us about four areas of unfinished business in economic policy that his successor will have to tackle: productivity and wages; inequality; labour-force participation and preventing the next economic crisis.
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"China's export structure may not be as sophisticated as that of high-income economies, but with a better educated labour force and increasing investment in innovation, the country's products are now generally of a higher unit value and require more skilled labour," HSBC economists said in a report.
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If the underlying labour force in addition expands as fast as the adult population growth rate — currently just over 1 per cent per year — that amounts to the labour supply growing at perhaps 1.6 per cent a year, which adds up to Trump's 25m jobs over a decade.
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A recent paper by Alison Weingarden of the Federal Reserve Board estimates that since 2007 the gap between the labour-force participation rate of "prime-age" workers aged 25 to 54 in big cities and similar workers in rural areas has grown from 1 to 3.8 percentage points.
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"If it's infrastructure spending or spending on education and training for either young people or retraining the older generation that is staying in the labour force longer these are activities that would provide near-term juice for the economy but maybe have long-term impact as well," he added.
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"If it's infrastructure spending or spending on education and training for either young people or retraining the older generation that is staying in the labour force longer - these are activities that would provide near-term juice for the economy but maybe have long-term impact as well," he added.
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"If it's infrastructure spending or spending on education and training for either young people or retraining the older generation that is staying in the labour force longer – these are activities that would provide near-term juice for the economy but maybe have long-term impact as well," Cochrane added.
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Besides taking into account such things as women's access to higher education, their labour-force participation, pay, business-school applications, representation in senior management and the cost of child care, this year we have added a new indicator: as well as measuring maternity-leave rights, we now include paternity leave.
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The experience of Ireland shows that emigration can be a boon, if workers gain skills and contacts abroad, and need not hamper success within the EU. The likes of Romania have much to do: improve institutions; raise the poor labour-force participation rate by cutting employment taxes; and reform social security.
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The share of over-65s in work is the highest in the G7; the share of women in the labour force has recently overtaken that in America; and the Diet (parliament) is debating a bill that would allow up to 345,000 foreign workers (called "trainees", not immigrants) to enter Japan by 2025.
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Olivier Thévenon at the OECD studied the effect on female labour-force participation of a range of policies to promote work-life balance, including paid leave, family benefits and tax incentives, and found that one of the most effective ways to get more women to take jobs was to expand child-care provision for the under-threes.
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On the one hand, while the very broad story of technological progress over the past two centuries has been one in which employment has grown massively, across shorter periods (which can themselves last for decades) technological disruptions can produce quite a lot of hardship for particular subsets of workers—and even, in some cases, for the labour force as a whole.
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The excesses of social liberalism have given us various forms of social breakdown that can be seen at their most extreme in America: record levels of broken families; an epidemic of drugs, particularly opioids; millions of men who have dropped out of the labour force and taken to a life of petty crime and binge-watching TV. It's unfair to blame these problems on social liberalism alone.
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Though there has certainly been further exploitation of working-class West Indians as an immigrant labour force in Britain – this not to mention much racial discrimination after their arrival in this country, and a variety of social issues which have affected their communities – there have also been hard-won opportunities to affect material change in Britain, and eventually to participate at the highest levels of British society.
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The scenario is built on a combined shock of three components: first, the US imposes a 35% tariff on imports from Mexico, China, South Korea and Taiwan and this prompts retaliation with equivalent tariffs on US imports from these countries; second, the US deports one million migrants, reducing the US labour force; and third, as the adverse shock hits the global economy, business and household confidence falls in all major economies.
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