Unemployment Down; Minimum Wage Increases

work and smile

Paying workers a reasonable amount of money works out well fro economies. Raising minimum wage is happening in a few jurisdictions throughout North America and the results are coming in that the wage increase for the lowest-paid employees benefits everyone. In Ontario the minimum wage was increased last year and economic growth continued unabated, so much so that unemployment is now at a 18-year low in the province.

“It is tough to find a lot of evidence that employment has been negatively impacted,” said Josh Nye, senior economist with Royal Bank of Canada. “In terms of the minimum-wage hike, it has come at a good time when the economy is able to absorb that. Demand for labour is so strong and labour market conditions are quite tight. Employers don’t have much of a choice,” he said.

The minimum-wage hike has helped boost paycheques. In Ontario, the average hourly rate increased 4.3 per cent to $27.16 over July of last year. Across Canada, average hourly earnings rose by 3.2 per cent to $26.61.

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Need a Job? Let’s Give Jobs to Everybody!

Interview

Underemployment runs rampant in too many sectors of our economy; and this contributes to a long-term unsustainable economic system. For example, people born in the 1980s are now the brokest generation since the Depression (for reasons why see this post). With these problems in mind, some thinkers are calling for a radical solution by providing jobs to anybody who wants one. It’s like universal income but for work.

To advocates, the payoff from this kind of program would be immense: In a single stroke, the government could not only eliminate involuntary unemployment but also alter the private job market. The wages and benefits at guaranteed public jobs would effectively set a floor for private employment. With more workers fully employed at higher wages, there’d be less demand for social services like food stamps. And although the program would require a significant initial investment, it would ultimately spur economic growth, as workers go out and spend their new paychecks.

Advocates of a jobs guarantee are clear on the need for on-the-ground leadership. The CBPP plan calls for federal administrators of a jobs guarantee program to work closely with state and local governments, and it advises that project proposals be developed “in conjunction with community leaders, local government officials, labor organizations, and local residents.”

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The Happiest Workers are Self-Employed

conversation

It’s Wednesday my dudes, which means you’re likely midway through your work week. If you’re looking for a boost in productivity and happiness you may want to consider working for yourself. People who are self-employed report being happier than people who work for bosses in a recent in study about workplace happiness. Of course, being self-employed isn’t for everyone but if you’re looking for a change maybe it’s time to strike out on your own!

Professor Warr said: “Professional workers who are self-employed really value the autonomy they have. They have the freedom to innovate, express their own views, have influence beyond their own role and compete with other companies and people.

“They really get to use their own expertise, so don’t seem to mind working long hours. They can find meeting high standards really fulfilling.”

Co-author Professor Ilke Inceoglu added: “Being engaged in their jobs makes people feel energised and pleased with their own contribution.

“Measuring how engaged people are in their work is therefore a really useful way to gauge their wellbeing and shows we must move beyond just looking at job satisfaction.”

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Read the full study.

American Startup Creates Job Board for People with Criminal Records

happy workers in a factory

Americans like to think of themselves living in the land of the free, ironically the country has the highest incarceration rate on the planet (and the greatest number of people behind bars). The laws in the USA are quite strict with zero tolerance and minimum jail time for offenders, this leads to a lot of people having criminal records. Once a person has been labelled a criminal in the states it can be very hard to find work after being released from prison. A new website called 70 Million Jobs has launched to help people released from prison get employment opportunities.

The founder of the site explained why he built it on Hacker News:

I’m something of a domain expert in this area because I myself have a criminal record. In the early 1990s, I worked on Wall Street and some of what I did was illegal. For a time I was a partner at the infamous Wolf of Wall Street firm, Stratton Oakmont (Scorcese film). I ended up with a 2 year Federal prison sentence. I was guilty.

I experienced first hand how difficult it was to get on with life after going through the “system.” I served as Director at Defy Ventures, a great non-profit in the reentry space, but was interested in a scalable solution to ex-offender unemployment and resultant recidivism. I felt a new, for-profit, tech-based approach was necessary, so I launched 70MillionJobs. We’re seeking “double bottom-line” returns: make money and do social good.

Like most job boards, our business model is based upon employers paying to advertise their jobs. We expect additional revenue to come from municipalities, who spend tens of billions of dollars annually, when someone is rearrested.

You might not be surprised to learn that most formerly incarcerated men and women are petrified to discuss their background with prospective employers. So we created a “safe haven” where all parties knew the score, and applicants could relax knowing that jobs being offered were with companies that accepted their pasts.

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More information on America’s prison dilemma.

Your Next Job Should be Fun

work and smile

As humans we tend to prefer short term rewards over long term gains and this is true even in a job search. We don’t think about the day to day of life when we think about the dream job – or just the next job. When you are looking for a new job think about what is fun for you. Having a good time at your job is more important than getting a higher salary.

It looks like the old adage “do what you love” could be true after all.

In the workplace, we are similarly well aware that it is much easier to get out of bed in the morning if our job is interesting and our colleagues are fun to be around. But we care much less about such benefits when we apply for a future job. We fail to realize that the person we are in the present — the one who values intrinsic benefits — is awfully similar to the person we will be in the future.

This failure to know ourselves is not unique to employees. Gymgoers, for example, say it is important that their present workout is fun and relaxing, yet they care less about whether their future workout provides these benefits as long as it helps them stay in shape. The result is that people often sign up for the wrong gym class — the one that is best at maximizing delayed health benefits yet fails to deliver an enjoyable experience in the moment.

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