California STEM job openings increased from May 2014 to June 2014

stemSTEM_2014_06The number of job openings in California for STEM (science, technology, engineering, math) jobs from 68,073 in May 2014 to 68,752 in June 2014, while the searcher-to-job opening ratio increased from 1.30 to 1.69 in the same span.

Image source: http://fairmountinc.com/help-wanted-1-2-million-good-paying-jobs-available/

Recent economic studies on recidivism

The list is not exhaustive but does provide a start for those looking into the issue of recidivism.(parts excerpted from Bad Ink, by Hartger)

Anderson, D. B., Schumacker, R. E. & Anderson, S. L. 1991. Release Characteristics and Parole Success. Journal of Offender Rehabilitation 17:133-145.

Bales, W. D. & Mears, D.P. 2008. Inmate Social Ties and the Transition to Society: Does Visitation Reduce Recidivism? Journal of Research in Crime and Delinquency 20:1 35.

Baumer, E. 1997. Levels and Predictors of Recidivism: The Malta Experience. Criminology 35(4), 601-628.

Beck, A.J., and Shipley, B.E. 1989. Recidivism of Prisoners Released in 1983. Bureau of Justice Statistics—Special Report. Washington, DC: U.S. Department of Justice.

Beck, Allen J. & Bernard E. Shipley. 1987. Recidivism of Young Parolees. Bureau of Justice Statistics—Special Report. Washington, DC: U.S. Department of Justice.

Beck, Allen J. & Bernard E. Shipley. 1997. Recidivism of Prisoners Released in 1983. Bureau of Justice Statistics—Special Report. Washington, DC: U.S. Department of Justice.

Benda, B. B. & Toombs, N. J. 2002. Two Preeminent Theoretical Models: A Proportional Hazard Rate Analysis of Recidivism. Journal of Criminal Justice 30, 217-228.

Benedict, R. W., Huff-Corzine, L., & Corzine, J. 1998. Clean Up and Go Straight: Effects of Drug Treatment on Recidivism among Felony Probationers. American Journal of Criminal Justice, 22, 169-187.

Blumstein, A., Barnett, A., & Farrington, D. 1987. Probabilistic Models of Youthful Criminal Careers. Criminology, 25, 83-107.

Carson, E.A., Sabol, W.J. 2011. Prisoners in 2011. Bureau of Justice Statistics. Washington, D.C.: U.S. Department of Justice.

Chen, K. & Shapiro, J. 2007. Do Harsher Prison Conditions Reduce Recidivism? A Discontinuity-based Approach. American Law and Economics Review, 9(1), 1-29.

Crowe, M. 2012, September 20. Are Tattoos in the Workplace Still Taboo?. USA Today.

Dooley, B., Seals, A., Skarbek, D. 2013. The Effect of Prison Gang Membership on Recidivism. Journal of Criminal Justice, 42(3), 267-275..

Drago, F., Galbiati, R. & Vertova, P. 2011. Prison Conditions and Recidivism. American Law and Economics Review, 13(1), 103-130.

Duwe, G. & Donnay, W. 2008. The Impact of Megan’s Law on Sex Offender Recidivism: The Minnesota Experience. Criminology, 46(2), 411-446.

Florida Department of Corrections (FDOC). 2013. Florida Prison Recidivism Report: Releases from 2004 to 2011. FDOC Publications.

Freeman, R. 2003. Can We Close the Revolving Door?: Recidivism vs. Employment of Ex- Offenders in the U.S. Urban Institute Reentry Roundtable.

Gainey, R.R., Payne, B.K., & O’Toole, M. 2000. The relationships between time in jail, time on electronic monitoring, and recidivism: An event history analysis of a jail based program. Justice Quarterly, 17(4), 733-752.

Gambetta, D. 2009. Codes of the Underworld: How Criminals Communicate. Princeton University Press.

Gendreau, P., Little, T., & Claire Goggin. 1996. A Meta-Analysis of the Predictors of Adult Offender Recidivism: What Works? Criminology 34: 575-607.

Gruenewald, P.J. & West, B.R. 1989. Survival Models of Recidivism Among Juvenile Delinquents. Journal of Quantitative Criminology, 5(3), 215- 229.

Hanley, D.E. & Latessa, E.J. 1997. Correlates of Recidivism: The Gender Division. Academy of Criminal Justice Sciences.

Hennessey, R. 2013, February 27. Tattoos No Longer A Kiss of Death in the Workplace. Forbes.

Hepburn, J. R. & Albonetti, C.A. 1994. Recidivism among Drug Offenders: A Survival Analysis of the Effects of Offender Characteristics, Type of Offense, and Two Types of Intervention. Journal of Quantitative Criminology 10:159-179.

Husock, H. 2012, August 3. From Prison to a Paycheck. The Wall Street Journal.

Jurik, N. C. 1983. The Economics of Female Recidivism. Criminology, 21, 603-622.

Kaufman, J. 2013, April 17. Keeping Their Art to Themselves. The New York Times.

Kilgannon, C. 2009, April 1. When Tattoos Hurt Job Prospects. The New York Times.

Kohl, R., Hoover, H.M., McDonald, S.M. & Solomon, A.L. 2008. Massachusetts Recidivism Study: A Closer Look at Releases and Returns to Prison. Urban Institute-Justice Policy Center: Washington D.C.

Kruttschnitt, C., Uggen, C., & Shelton, K. 2000. Predictors of Desistance Among Sex Offenders: The Interaction of Formal and Informal Social Controls. Justice Quarterly, 17, 61-87.

Kubrin, C.E. & Stewart, E.A. 2006. Predicting Who Reoffends: The Neglected Role of Neighborhood Context in Recidivism Studies. Criminology 44:165-197.

Langan, P.A., and Levin, D.J. 2002. Recidivism of Prisoners Released in 1994. Bureau of Justice Statistics. Washington, D.C.: Bureau of Justice Statistics.

Langan, P.A., Schmitt, E.L. & Durose, M.R. 2003. Recidivism of Sex Offenders Released from Prison in 1994. Bureau of Justice Statistics. Washington, DC: U.S. Department of Justice.

Lozano, A.T.R., Morgan, R.D., Murray, D.D., & Verghese, F. 2010. Prison Tattoos as a reflection of the Criminal Lifestyle. International Journal of Offender Therapy and Comparative Criminology 55 (4), 509-529.

Pew Center on the States. 2010. Millennials: Confident. Connected. Open to Change. Pew Center on the States.

Pia Negro, M. 2012, October 16. Baltimore Program Provides Job Support for Ex-Prisoners Coming Home. Baltimore News.

Putnins, A. 2002. Young Offenders, Tattoos and Recidivism. Psychiatry, Psychology and Law, 9(1), 62-68.

Rosenberg, T. 2012, March 28. Out of Jail, and Into a Job. The New York Times.

Spohn, C. & Holleran, D. 2002. The Effect of Imprisonment on Recidivism Rates of Felony Offenders: A Focus on Drug Offenders. Criminology 40:329-358.

Steward, Dwight, Estimating Recidivism Risk in Earnings Loss Calculations for Persons Recently Released from Incarceration (October 11, 2010). Available at SSRN: http://ssrn.com/abstract=1753285 orhttp://dx.doi.org/10.2139/ssrn.1753285

Tahmincioglu, E. 2010, February 17. Unable to get Jobs, Freed Inmates Return to Jail. NBC News.

Uggen, C. 2000. Work as a Turning Point in the Life Course of Criminals: A Duration Model of Age, Employment, and Recidivism. American Sociological Review 67, 529-546.

Visher, C.A. & Linster, R.L. 1990. A Survival Model of Pretrail Failure. Journal of Quantitative Criminology, 6(2), 153-184.

Visher, C.A., Lattimore, P.K., & Linster, R.L. 1991. Predicting the Recidivism of Serious Youthful Offenders Using Survival Models. Criminology, 29(3), 329-366.

Waters, K. 2012. The Tattooed Inmate and Recidivism. Electronic Theses, Treatises, and Dissertations. Paper 5262.

Windzio, M. 2006. Is There a Deterrent Effect of Pains of Imprisonment? The Impact of ‘Social Costs’ of First Incarceration on the Hazard Rate of Recidivism. Punishment and Society, 8(3), 341-364.

A closer look at Bad Ink: Visible Tattoos and Recidivism study by Kaitlyn Hartger

Review of Kaitlyn Hartger’s ‘Bad Ink: Visible Tattoos and Recidivism

by Dwight Steward, Ph.D.

Kaitlyn Hartger’s study ‘A closer look at Bad Ink: Visible Tattoos and Recidivism study by Kaitlyn Hartger’ is intriguing and adds quite a bit to the existing literature on recidivism and the factors related to reincarnation.

Generally, the paper uses data from  Florida Department of Corrections (FDOC) Offender Based
Information System (OBIS) to study the recidivism of inmates with and without tattoos.  Hartger goes further with her unique data set, further classifies the potential visibility of the inmates tattoo to a potential employer.

1-recid

She finds that tattoos do matter.  Having a tattoo cuts the survival rate, i.e. the likelihood of the inmate not returning to incarceration, in half.  In her data, the average inmate survives approximately 13.5 years ‘on the outside’ where as an inmate with tattoos has a survival rate of 5.8 years.  The impact is even larger for inmates with tattoos that may be potentially visible to employers.

The figure above shows the estimated impact of having a tattoo on recidivism rates.

Overall, the paper makes three main contributions.

  • The sample is more extensive than those used in most previous research
  • The use of more robust measures of visibility sheds light on which tattoo locations matter most for employment
  • Her use of a survival methodology allows for the study if both the timing of recidivism and the factors that impact recidivism

 

California innovation job openings increased from May 2014 to June 2014

innovation

innovation_2014_06

The number of job openings in California for “Innovation Type Jobs” increased from 12,335 in May 2014 to 12,612 in June 2014, while the searcher-to-job opening ratio increased from 0.68 to 1.02 in the same span.

Image source: http://www.bizjournals.com/sacramento/news/2013/09/23/symposium-innovation-ecosystems-jobs-wea.html

Texas STEM job openings decreased from May 2014 to June 2014

STEM logoSTEM_2014_06

The number of job openings in Texas for STEM (science, technology, engineering, math) jobs increased from 12,335 in May 2014 to 12,612 in June 2014, while the searcher-to-job opening ratio increased from 0.68 to 1.02 in the same span.

Image source: http://projecttomorrowblog.blogspot.com/2013/11/i-am-scientist.html

States raising their minimum wage in 2014

The following states raised their minimum wage in 2014:

Connecticut: Connecticut’s hourly minimum wage will increase incrementally to $10.10 over the next three years.

Delaware: Delaware’s minimum wage will increase to $8.25 an hour, effective June 1, 2015.

Hawaii: Hawaii’s minimum wage will increase to $10.10 per hour over the next four years.

Maryland: Maryland raised its minimum wage to $10.10 an hour by July 2018

Massachusetts: A new law will gradually raise the minimum wage in the state to $11 per hour by 2017,

MichiganA new law will increase the state’s minimum hourly wage to $9.25 per hour by Jan. 1, 2018

Minnesota: The state’s minimum wage increased on Aug. 1, 2014, to $8 per hour for large employers (>$500k in gross sales).  to $9.50 on Aug. 1, 2016. Beginning in 2018, the wage will be indexed to inflation to a maximum increase of 2.5 percent per year.

Rhode Island: The state’s minimum wage will increase to $9 per hour, effective Jan. 1, 2015.

Vermont: The state’s minimum wage will rise to $10.50 an hour by 2018.  After 2018, annual cost-of-living increases of either 5 percent or if it is lower, a rate calculated by the federal Department of Labor annually that is tied to the consumer price index.

West Virginia: The state’s hourly minimum wage will increase to $8 on Jan. 1, 2015, and increase to $8.75 the following Jan. 1, 2016.

Washington, D.C.: The Minimum Wage Amendment Act of 2013 will increase the district’s minimum hourly wage in three steps to $11.50 by July 1, 2016

-See more at: http://www.shrm.org/legalissues/stateandlocalresources/pages/states-minimum-wage-2014.aspx#sthash.YFK7jjgC.dpuf

 

Texas innovation job openings increased from May 2014 to June 2014

innovationinnovation_2014_06

The number of job openings in Texas for “Innovation Type Jobs” increased from 12,335 in May 2014 to 12,612 in June 2014, while the searcher-to-job opening ratio increased from 0.68 to 1.02 in the same span.

Image source: http://www.americas.gecapital.com/insight-and-ideas/capital-perspectives/innovation-secrets-of-steve-jobs

Measuring systematic risk in the international banking system

It is easier than ever to invest across international borders.  Measuring the risk associated with a country’s banking system is often a key decision international investment decisions.  Banking system z-scores are one way of measuring overall financial risk within a country’s banking system. The banking z-score captures the probability of default of a country’s banking system.

In general, the Z-score compares a bank’s buffers (capitalization and returns) with the volatility of those returns.  The banking z-score for Honduras, Brazil, and Mexico is shown below.

Here is some recent research on measuring banking system risk.

http://www.sciencedirect.com/science/article/pii/S104244311300005X

http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1753735

http://www.hnb.hr/dub-konf/14-konferencija/ivicic-kunovac-ljubaj-2.pdf

 

Median rent increased for three largest Eagle Ford Shale MSAs from June 2014 to July 2014

housing

Median rent rose in San Antonio, Laredo, and Corpus Christi from June 2014 to July 2014.

rent_2014_07

Median house prices for San Antonio and Laredo fell from June 2014 to July 2014. Median house price for Corpus Christi rose from May 2014 to June 2014.

house_2014_07

Image source: http://www.asemooni.com/news/economic-news/the-president-agreed-with-the-increase-in-housing