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Payroll to Population Employment Metric Introduced

September 6th, 2012 |

Below are comments from Gallup Chairman and CEO Jim Clifton introducing Gallop’s “Payroll to Population” metric. Clifton notes that “of the 5 billion people age 15 or older, 3 billion want a good job, but there are only 1.2 billion of them to go around — so there’s a shortfall of more than 1.8 billion good jobs.

The Right Global Employment Metric: Payroll to Population

Wednesday, September 5, 2012

See: http://thechairmansblog.gallup.com/2012/09/the-right-global-employment-metric.html

Through our World Poll, Gallup learned that what everyone wants the most is a good job. This is the will of the world, and nothing outranks it: not the desire for family, peace, religion, or anything else.

A good job, as defined by Gallup, is one that is 30+ hours a week for an organization from which employees receive a real paycheck. What’s not a good job is work that’s informal or some form of menial self-employment.

In what is perhaps the world’s most pressing problem today, of the 5 billion people age 15 or older, 3 billion want a good job, but there are only 1.2 billion of them to go around — so there’s a shortfall of more than 1.8 billion good jobs.

I tell you all of this because most existing forms of employment data aren’t helpful at identifying and tracking this severe problem. That’s because those data lump the lousy jobs together with the good ones. This means that when you look at many countries’ unemployment figures — including those reported by the U.S. Bureau of Labor Statistics — the percentage seeking employment appears artificially low because the lousy jobs get counted as jobs — but they’re not good jobs at all.

Do you think Guatemala’s unemployment rate is really 4%? Or that Iran’s is 15%? Our data suggest the real unemployment rates are much, much higher.

To read the full essay, please click here: http://thechairmansblog.gallup.com/2012/09/the-right-global-employment-metric.html

 

Comments

One Response to “Payroll to Population Employment Metric Introduced”

  1. Gerry Todd Says:

    So where are those 1.8 billion new good jobs going to come from? They aren’t! We’re still going to need people cleaning toilets and picking strawberries and working under deadline, and doing all the other unpleasant, backbreaking, stressful jobs. Can our current portfolio of jobs be made less unpleasant, less backbreaking, and less stressful? Ideally, yes; but in reality probably not, as we enter the era of peak resources, including peak energy, and begin surrendering some of our energy slaves – 100 energy slaves per capita in the US.

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