Mt. St. Employment Rate

MT. SAINT EMPLOYMENT RATE HOW THE 2008 ECONOMIC CRISIS EFFECTED THE RISE AND FALL OF EMPLOYMENT THE ERUPTION OF 2008- After the "eruption" of the housing and EMPLOYMENT RATE OF WORKING POPULATION financial markets in 2007-2008 the aftermath the of the global financial crisis is evident in the drastic drop in employment rate after 2008. Between 2003-2008 all of the OECD coun- 67.5% tries surveyed showed a steady increase in the rate of employment among the working population. However after 2008 82 % of countries experienced a significant drop in the employed population with 38% experiencing a drop in employment lower than in 2003. 67.0% 66.5% 66.0% 65.5% 65.0% 64.5% 64.0% 2003 2004 2005 2008 18 % Of countries experienced overall continuous growth in employment from 2003-2010 44 % Countries of employment rate peaked in 2008 but had a higher percentage of the employed population in 2010 38% Countries of employment rate peaked in 2007-2008 and had a lower percentage of the employed population in 2010 than 2003 AUSTRALIA AUSTRIA ESTONIA FINLAND FRANCE CHLE DENMARK GERMANY HETHERLANDS NEW ZEALAND KOREA LUKEMBOURG SPAIN TURKEY SWITZERLAND UNITED STATES With the highest percentage of their ponuletion omplo BUY LELL THE COUNTRY OF ICELAND entire country was I item on ebay. rate was so bad, n ou h had d as an *Bjork not inciuded WOMEN ON THE RISE EMPLOYMENT RATE OF WOMEN Although the femaie working population overall exhibited a decline in employment after 2008, they did not dip below their lowest percentage in 2003. In fact almost twice as many countries showed continuous growth over 7 years than the general working population, Why were women not as greatly affected? 56,0 LOSS OF FINANCE & MANUFACTURING JOBS SKILLS FOR A SERVICE ECONOMY CHILD CARE, ELDERLY CARE, FOOD PREP CHILE +30% The blogosphere adopted the name of recession as the "He-session". Many of the jobs that disappeared in the economic crisis were those in manufacturing and finance, roles largely held by men As workers re-entered the labor market, the available job descriptions were not the same. The economy shifted from a manufacturing economy to a service economy. Jobs in factories were no longer as relevant and this new type of economy required a different skill set, one relying more on brains and less on braun. Many of the service economy jobs are roles that women already inherently did at home such as child care, elderly care and food preparation. These jobsshowed the most growth and availability after 2008 ISRAEL LUXEMBOURG POLAND нехICO +14% +14.7% GERMANY +12 % +12.7% +14% JAPAN BELGIUM AUSTRIA +7.8% +9% +9 % 33% of the 34 OECD countries surveyed experi- enced continuous growth in employment for women from 2003-201o TURKEY +4% INCREASE IN WOMEN'S EMPLOYMENT BETWEEN 2003-2008 THE GOLDEN YEARS? EMPLOYMENT RATE BY AGE Hitting age 65 used to mean retirement from work and enjoying the golden years. However the 15 year rise in employment among 65-8O year olds indicates the delay of retirement and continuing the laid-off workers were trying to stay in the labor force longer to make up for lost income. to extend the working years. Many of 80% 75.8% 75.9% 75.8% 70% 60% 49.1% 50% 47.6% 51.6% 54.0% AGES 16-24 40% 47.7% 45.5% 30% 42.7% AGES 25-64 39.5% 20% AGES 65-80 10% 0% 2000 2005 Sources OECD Factbook 2011. Economic. Envinronmental and Social Statisties - ISBN Pttp//www.foreianpelieycom/articles/20os/06/18/the ers-to-delay-rotirement hato abenot econ20rv05/20/racession THE DEATH OF THE MACHO, BELGUN CANADA CZECH REP MEXICO NORWAY POLAND PORTUGAL SLOVAK REP SLOVENIA SWEDEN UNITED KINGDOM