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Latest data shows little movement in tech industry employment, CompTIA analysis finds

Retrieved on:

Friday, March 8, 2024

Intelligence, Employment, Growth, BLS, Government, CompTIA, Information technology, Telecommunications, Movement, Workforce, Occupation, Bureau of Labor Statistics

DOWNERS GROVE, Ill., March 8, 2024 /PRNewswire/ -- Technology industry employment recorded modest growth in February and employer job postings for open tech positions were essentially unchanged, according to analysis by CompTIA, the nonprofit association for the information technology (IT) industry and workforce.

Key Points:

DOWNERS GROVE, Ill., March 8, 2024 /PRNewswire/ -- Technology industry employment recorded modest growth in February and employer job postings for open tech positions were essentially unchanged, according to analysis by CompTIA , the nonprofit association for the information technology (IT) industry and workforce.
Net tech employment spanning tech industry and tech occupation employment totals more than 9.6 million workers.2
Technology occupations across the economy declined by an estimated 133,000 positions.3 The unemployment rate for tech occupations increased to 3.5%.
"We continue to see the lag effect of market developments working their way into government employment data," said Tim Herbert, chief research officer, CompTIA.
"While employers across every sector of the economy demand tech talent spanning the continuum of tech job roles, there are pockets of employers recalibrating their staffing levels."

Philip R. Lane: The banking channel of monetary policy

Retrieved on:

Friday, February 16, 2024

Online, BSI, Specialization, BLS, Exercise, House, History, AnaCredit, NFPS, Policy, Imir, NII, ECB, T3, BVAR, CES, Housing, Composite, SHSS, Bank, Outlook, IRB, Eurozone, Total, Level, IBoxx, Supervision, Inventory, Deutsche Bundesbank, MFI, Universal, T2, Business, MIR, IHS Markit, Excess, QSA, Florence School, Insurance, Eurosystem, Household, G-SIB, Lombard, T+2, Observation, Rubric, Credit, ILM, Fused quartz

for rates, credit growth in deviation from the start of the cycle (t) in p.p.

Key Points:

for rates, credit growth in deviation from the start of the cycle (t) in p.p.
Starting months correspond to the month immediately preceding the first hike or explicit announcement of the hike of the cycle.
The dotted lines shows counterfactuals for lending rates and lending volumes, taking December 2021 as the last observation and
projecting volumes conditional on the path of monetary policy rates.
The one for lending volumes is based on the BVAR model in Altavilla,
Giannone, and Lenza (2016).
Composite funding costs are a weighted average of deposit rates
and average monthly bond yields, with outstanding amounts as weights.
Right chart shows
the contributions of the components to the change in the composite bank funding cost
between December 2021 and November 2023.
Latest observations: 8 February 2024 for bond yields; December 2023 for other series.
Notes: ?Others? include shares (listed and not listed as well as those issued by investment
funds), and insurance and pension schemes.
Retail
Specialised

Universal

10

10

8

8

6

6

4

4

2

2

0

0

-2

-2

-4
Jan-20 Aug-20 Mar-21 Oct-21 May-22 Dec-22 Jul-23

-4

Sources: ECB (iBSI, iMIR) MPC Task Force on Banking Analysis and ECB calculations.
Investment refers to the net
change in property plant and equipment over assets; cash refers to cash and cash
equivalents over assets.
Households
loans, credit standards and loan demand
Rubric
Changes in credit standards for
loans to households, and
contributing factors
(net percentage)
0

30

-40

20

Sources: ECB (BSI) and ECB calculations.
Low-income households are those in the bottom 20 per cent
of the income distribution; high-income households are those in the top 20 per cent.

Federal Aviation Administration approves Universal Technical Institute-Miramar's Airframe and Powerplant Technician program

Retrieved on:

Thursday, February 15, 2024

PHOENIX and MIRAMAR, Fla., Feb. 15, 2024 /PRNewswire/ -- Universal Technical Institute today announced that the Federal Aviation Administration (FAA) recently approved the Airframe and Powerplant Technician program at its Miramar campus, with classes now underway. Universal Technical Institute is the transportation, skilled trades and energy education division of UTI, Inc.

Key Points:

PHOENIX and MIRAMAR, Fla., Feb. 15, 2024 /PRNewswire/ -- Universal Technical Institute today announced that the Federal Aviation Administration (FAA) recently approved the Airframe and Powerplant Technician program at its Miramar campus, with classes now underway.
Universal Technical Institute is the transportation, skilled trades and energy education division of UTI, Inc.
Students in the 18-month Airframe and Powerplant program at Miramar will learn to diagnose, repair and maintain aircraft and power plant components.
"The approval of Universal Technical Institute's Airframe and Powerplant Technician program in our city is exciting news for future students and our local aviation industry," said City of Miramar Mayor Wayne Messam.
In addition to the aviation program, UTI-Miramar offers 45-week Diesel Technology , 36-week Welding Technology and 51-week Automotive Technology Training programs.

Living-Wage Job Market Rebounds in January, Says Ludwig Institute

Retrieved on:

Wednesday, February 14, 2024

News, Woman, Ludwig Cancer Research, BLS, Workforce, Bureau of Labor Statistics, White, TRU, Black

WASHINGTON, Feb. 14, 2024 /PRNewswire/ -- The living-wage job market rebounded in January, with White and Black workers posting gains and the gender gap closing, according to the monthly True Rate of Unemployment (TRU) report by the Ludwig Institute for Shared Economic Prosperity (LISEP).

Key Points:

WASHINGTON, Feb. 14, 2024 /PRNewswire/ -- The living-wage job market rebounded in January, with White and Black workers posting gains and the gender gap closing, according to the monthly True Rate of Unemployment (TRU) report by the Ludwig Institute for Shared Economic Prosperity (LISEP).
LISEP Chairman Gene Ludwig said that while positive, it's crucial to consider other data points for a comprehensive analysis and advises interpreting the January TRU report within its context.
"While the first TRU report of 2024 brings us some good news, job creation alone falls short.
Policymakers must commit to sustained action, acknowledging the struggles of working families and building the foundation for greater prosperity and upward mobility."

What drives banks’ credit standards? An analysis based on a large bank-firm panel

Retrieved on:

Wednesday, February 7, 2024

NPL, Seven Bank, Xi, Name, AnaCredit, Data, Bank, ECB, SAFE, JEL, Bias, Knowledge, XB, P50, Ciccarelli, Credit, Regression analysis, Shock, Central bank, Mand, E51, Movement, E44, SNL, Government, Access, Environment, Literature, P90, BLS, P25, CDS, Darst, Risk, European Central Bank, Bureau van Dijk, OBS, Probability, Complementarity, ROA, Policy, COVID-19, Research, Standard score, Uncertainty, R2, Heider, E52, Holmström, CSB, Health, P75

An analysis based on a large

Key Points:

An analysis based on a large
bank-firm panel
No 2902

Disclaimer: This paper should not be reported as representing the views of the European Central Bank
(ECB).
We find
that weaker capitalised banks adjust their credit standards more than healthier banks, especially for
firms with a higher default risk.
Here we find t hat w eaker b anks r espond m ore f orcefully by
tightening their credit standards more than better capitalised banks.
On the contrary, weaker banks
may be more prone to adopt looser credit standards, with the aim of increasing their revenues.
To answer these questions, we analyse the determinants of banks? credit standards, i.e., their internal
guidelines or loan approval criteria applied when deciding on granting credit.
2 Altavilla
ECB Working Paper Series No 2902

2

area banks tighten their credit standards more when linked to riskier firms, measured via firms? leverage
and default risk.
We assess how euro area banks adjusted their credit standards in response to
the negative COVID-19 pandemic shock, after accounting for government support measures.
When deciding on their credit standards, banks assess risks
based on both their own loss absorption capacity and the credit risk of their borrowers.
On the contrary,
weaker banks may be more prone to adopt looser credit standards, with the aim of increasing their
revenues.
We provide evidence that
euro area banks tighten their credit standards more when linked to riskier firms, measured via firms?
leverage and default risk based on the Altman Z-score.
In
addition, they focus on a different research question and use data from the IBLS only as a control.
ECB Working Paper Series No 2902
5

capital position implies less tightening of lending criteria, possibly reflecting the fact that banks can
afford to adjust their credit standards more moderately.
Based on our results, this implies a stronger deterioration of their lending conditions compared
with less vulnerable firms.
We assess how euro area banks adjusted their credit standards in response to
the negative COVID-19 pandemic shock, after accounting for government support measures.
This is in line with the role of government support
measures such as loan guarantees mitigating banks? exposure to firms? credit risks as they shield banks
from firms? increased credit risks.
2
Related literature

Our paper is closely related to studies analysing credit supply based on BLS indicators and the impact
of monetary policy shocks on bank lending conditions in the euro area.
Hempell and Kok (2010) disentangle
pure loan supply based on the BLS factors and investigate the role played by such factors for loan growth.
Several other studies link confidential individual BLS data with actual bank-level data, but not firm
data, allowing an analysis of bank characteristics relevant for bank lending conditions.
They find that a short-term interest rate shock decreases both loan supply
and demand, but more for less healthy banks.
Their findings are consistent with the results of our paper on the favourable impact of bank health on lending standards.
Both papers tend to find no evidence of higher risk taking of banks as a result
of accommodative monetary policy.
More recent studies are based on
confidential bank and firm-level data from national credit registers.
(2012) who focus on the bank-firm-relationship in Spain, based on credit register data.
Ferrero, Nobili, and Sene (2019) arrive at a corresponding conclusion on the risk-taking
channel based on a confidential loan-level dataset of Italian banks.
In another paper, Altavilla, Boucinha, and Bouscasse (2022)
disentangle credit demand and supply based on euro area credit register data (AnaCredit) for the period
of the pandemic.
Our results emphasise the
mitigating impact of government guarantees on a tightening of credit standards during the pandemic.
This mitigating impact played a major role in loan demand and not credit supply being decisive for lending volumes during the pandemic.
Based on their model, accommodative monetary policy is part of the optimal policy mix, combined with social insurance.
To keep the wealth of information
available in the BLS, we run our analysis at the quarterly frequency of the survey.
of employees
101.4

2456.9

2.0

4.0

12.0

37.0

116.0

14944589

Panel (a): Banks
Credit standards

Loan loss provisions
Panel (b): Firms

Notes: Descriptive statistics for the bank-firm sample included in the regression analysis.
Specifically, a one
standard deviation increase in the CET1 ratio leads to 0.2 standard deviations lower credit standards,
i.e., easier credit standards.
In their lending decisions, banks assess risks based on both their own
loss absorption capacity and the credit risk of their borrowers.
?Credit supply and monetary policy: Identifying the bank balance-sheet channel with loan applications.? American Economic
Review 102 (5):2301?2326.
?Hazardous times for monetary policy: What do twenty-three million bank loans say
about the effects of monetary policy on credit risk-taking?? Econometrica 82 (2):463?505.
?The credit cycle and the business cycle: new findings using
the loan officer opinion survey.? Journal of Money, Credit and Banking 38 (6):1575?1597.
guarantees: proxy from BLS, bank level
0

.1

.2

.3

.4

Government guarantees exposure

-.5

-.25

0

.25

.5

Government guarantees exposure

Notes: Based on results from columns (3) and (6) of Table 4.

Small Businesses Kick-off 2024 with a Decline in Hiring

Retrieved on:

Tuesday, February 6, 2024

The CBIZ SBEI tracks payroll and hiring trends for over 2,900 companies that have 300 or fewer employees, providing broad insight into small business trends.

Key Points:

The CBIZ SBEI tracks payroll and hiring trends for over 2,900 companies that have 300 or fewer employees, providing broad insight into small business trends.
“January's modest hiring decrease aligns with seasonal trends, yet signals a pivotal moment for small businesses,” said Anna Rathbun, CFA, Chief Investment Officer, CBIZ Investment Advisory Services, LLC.
Small businesses accounted for an increase of 25,000 of those jobs on a seasonally adjusted, month-over-month basis.
January's hiring decrease suggests small businesses are entering a period of caution, with an eye on navigating the traditionally slower post-holiday months in a tight labor market.

Increase in U.S. Population Depleting Housing Inventory, Complicating Real Estate Market Says Valor Capital

Retrieved on:

Monday, February 5, 2024

Policy, Subcontractor, Fed, Agami, Element, Bureau, Housing, Statistics, CBP, Investment, BLS, Zillow, Employment, Federal Reserve, Water, Federal, Health, Unemployment, Real estate

CLEARWATER, Fla., Feb. 5, 2024 /PRNewswire-PRWeb/ -- In September 2023 U.S. Customs and Border Protection (CBP) reported a 40 percent immigrant population increase compared to September 2021 and 18 percent compared to September 2022. (1) "Our country was founded on immigration, and it remains a key thread in the fabric of the country," notes Moises Agami, CEO of Valor Capital Real Estate Development. "Unfortunately," he continues, "The estimated statistical flow of an additional 7.5 million people through the U.S. borders has displaced Americans already scrambling for available affordable housing—that's more than the population of 33 U.S. states." Agami, acknowledges that there are factors that the public may not have considered. "What is affecting real estate today is the fact that there are not sufficient homes in the U.S. to satisfy current needs. One cause is illegal and legal immigration."

Key Points:

- Moises Agami, CEO of Valor Capital Real Estate Development
Immigration plays a crucial role in the real estate market, particularly in regions experiencing a significant influx of new residents.
The real estate market is significantly influenced by the fluctuation of interest rates, directly impacting housing affordability.
Economic policies wield major influence on the real estate market, capable of either bolstering or disrupting housing trends.
Valor Capital has six luxury real estate projects in its portfolio, with two already completed and four more underway at different phases of development.

ESFI Releases Updated Workplace Safety Statistics

Retrieved on:

Wednesday, January 31, 2024

OSHA, Accident, Injury, Occupation, Fatality, Occupational safety and health, Safety, BLS, Electricity, Risk, Construction, Workplace, Census, Workforce

“As the leading authority on workplace electrical safety, ESFI compiles this yearly data set to track the occupations most at risk for a workplace electrical incident,” said ESFI President Brett Brenner.

Key Points:

“As the leading authority on workplace electrical safety, ESFI compiles this yearly data set to track the occupations most at risk for a workplace electrical incident,” said ESFI President Brett Brenner.
“ESFI then uses this information to create workplace safety materials to reach a wide audience of workers.
Utilize ESFI’s free-to-share resources to elevate the safety of your workplace and prevent avoidable workplace injuries and fatalities from occurring.”
Contact with or exposure to electricity continues to be one of the leading causes of workplace fatalities and injuries in the United States.
"ESFI is pivotal in raising awareness of workplace hazards to help reduce the number of workplace electrical incidents occurring yearly to zero.”

Former U.S. Bureau of Labor Statistics Commissioner Dr. William Beach Joins UKG Workforce Institute Advisory Board

Retrieved on:

Wednesday, January 31, 2024

The UKG Workforce Institute — a think tank known for its global research and actionable insights on what’s impacting HR, organizations, and their people — is pleased to welcome Dr. William Beach, labor economist and former Commissioner of Labor Statistics at the U.S. Bureau of Labor Statistics (BLS), to the institute’s advisory board of experts.

Key Points:

The UKG Workforce Institute — a think tank known for its global research and actionable insights on what’s impacting HR, organizations, and their people — is pleased to welcome Dr. William Beach, labor economist and former Commissioner of Labor Statistics at the U.S. Bureau of Labor Statistics (BLS), to the institute’s advisory board of experts.
Appointed to a four-year term at the BLS in 2019 , Beach served under two U.S. presidential administrations as the bureau’s 15th Commissioner of Labor Statistics.
“I’m excited to be joining the UKG Workforce Institute advisory board,” said Beach.
As a member of the UKG Workforce Institute advisory board, Beach will tackle such topics as what’s happening in the U.S. labor market , the next generation of work, automation, employee engagement, and population trends.

Tech industry employment grows for second straight month, job postings for future hiring rebound, CompTIA analysis reveals

Retrieved on:

Saturday, February 3, 2024

Intelligence, Tech, Science, Information technology, BLS, CompTIA, Data analysis, Semiconductor, Systems analysis, Insurance, Bureau of Labor Statistics, Engineering, Workforce, Creative industries

Tech industry employment grew by an estimated 17,833 jobs, CompTIA's analysis of U.S. Bureau of Labor Statistics (BLS) #JobsReport data reveals.

Key Points:

Tech industry employment grew by an estimated 17,833 jobs, CompTIA's analysis of U.S. Bureau of Labor Statistics (BLS) #JobsReport data reveals.
Employers listed more than 392,000 active job postings for tech occupations, with nearly 178,000 postings added last month.
Job postings in artificial intelligence or requiring AI skills increased by about 2,000 from December to January, to 17,479.
A number of metropolitan markets experienced notable jumps in tech job postings, including Dallas, Washington, New York, Boston, Atlanta and Chicago.