Archive for July 2012

UK – Disposable income at nine-year low

Individuals had less disposable income to spend on average in the first three months of the year than during any quarter since 2003. Disposable income per head, taking inflation into account, fell by 1% on the previous quarter, the Office for National Statistics (ONS) said. This measure of income is the amount of cash individuals … Continue reading

Singapore – Unemployment inched higher to 2.1%

And total employment grew by a scanty 27,400. According to the Ministry of Manpower, employment creation has moderated slightly in the first quarter this year, though it remained fairly strong. Unemployment has risen slightly. The seasonally adjusted overall unemployment rate increased from 2.0% in December 2011 to 2.1% in March 2012… via Unemployment inched higher … Continue reading

Australia – Rio Tinto to Cut Jobs

Rio Tinto PLC is cutting jobs at its regional headquarters in Melbourne and closing an office in Sydney as the Anglo-Australian mining giant moves to contain costs, two people familiar with the matter said Tuesday. The restructuring is the latest sign that Australia’s mining boom is running out of steam as China’s economy slows and … Continue reading

Europe – Hierarchies ‘stifle innovation at work’ and Chinese better at fostering ideas from junior staff, claims report

Workplaces in Europe are failing to make the most of innovative ideas from junior members of staff because of an ingrained hierarchical approach, a study has claimed. Only 8 per cent of European respondents to the KPMG Tech Innovation Survey said that their organization was good at ‘spotting and nurturing innovation from the bottom up’. … Continue reading

Unknown number of layoffs hit several studios in Seattle area

WB Games Seattle, which is composed of Monolith Productions, Snowblind Studios and Surreal Software have been hit with an unknown number of layoffs today. A source close to the studio confirmed to Joystiq that the Seattle team has been affected. Nothing concrete has been announced as of yet, though earlier layoffs saw around 60 people … Continue reading

Deutsche Bank – 1,900 jobs cut

Deutsche Bank said Tuesday it plans to cut about 1,900 jobs, most of them outside Germany, as its earnings fell 46 per cent in the second quarter as the European debt crisis hurt its investment banking and trading activities. The bank, which employs nearly 101,000 people, said about 1,500 of the job cuts will be … Continue reading

Scotland – 350 new jobs created for Shetland oil platform

THE Prime Minister has promised to support manufacturing as he congratulated a Fife firm which is taking on 350 workers after winning two massive contracts. David Cameron visited Burntisland Fabrication (BiFab) just after bosses there announced new contracts worth £140 million involving the design, procurement and construction of major components for a new oil platform. … Continue reading

Voters Want Plans for U.S. Jobs

 Americans see Jobs as Top Priority for US Next President according to Gallup’s Survey. Voters Want Plans for U.S. Jobs  Bloomberg says. Tarsha Darden, a 34-year-old family doctor who lives in Virginia Beach, volunteered for President Barack Obama’s first presidential campaign. Now she doesn’t even know whether she’ll vote for him. “Normally I’m not a political person but I … Continue reading

Make the unemployed work for free – A Solution ?

The failed neo-liberal British government is following the path that the conservatives followed in Australia in attempting to “manage” the unemployment that their flawed policy regime created… The scenario is this: 1. British government introduces austerity policies which deliberately create unemployment. Jobs vanish because aggregate demand contracts. People stop spending and firms stop investing because … Continue reading

Euro-Area Unemployment Rate at a Record 11.2% for Two Months in a Row

The euro area (EA17) seasonally-adjusted unemployment rate was 11.2% in June 2012, stable compared with May. It was 10.0% in June 2011. The EU27 unemployment rate was 10.4% in June 2012, also stable compared with May. It was 9.5% in June 2011. Eurostat estimates that 25.112 million men and women in the EU27, of whom 17.801 million … Continue reading

Germany – Employment rose by 1.2% and Unemployment Rate at 5.4%

According to provisional results of employment accounts, the number of persons in employment rose by 1.2% in June 2012 on June 2011. The growth rate thus was slightly lower than in the months February to May 2012 (+1.3%) and January 2012 (+1.4%). Compared with May 2012, the number of persons in employment was up by … Continue reading

Office of Management and Budget says high unemployment rates will last

The numbers that have the White House projecting an unemployment rate dipping below 8 percent before November still show the economy struggling to recover until well after the next presidential election, with rates not expected to stabilize to pre-recession levels until after the second term President Obama is hoping to win. Republicans quickly leapt on … Continue reading

US – Top 7 College Degrees to be Unemployed

Not all college degrees are created equal. This is according to a recent report by Georgetown University’s Center on Education and the Workforce. The major you choose could reduce your chances of being part of the latest unemployment statistic—or make you the newest member of the club. It would be in your best interest to … Continue reading

Black Unemployment Rate – Beyond 14.4 percent

The black unemployment rate stands currently at 14.4%. Blacks usually bare the burden of any increase in unemployment, as they are usually the first laid off as the economy sours and turns downward and are the last recalled as the economy turns upward. This to some extent is reflected in the current unemployment rate figures … Continue reading

South Africa – Unemployment rises to 25.2%

South Africa’s unemployment rate rose to 25.2% in the first quarter of 2012 compared to 23.9% in the fourth quarter of 2011, says Statistics South Africa (Stats SA). “Unemployment increased by 282 000 persons between the fourth quarter of 2011 and the first quarter of 2012,” Deputy Director General for Population and Social Statistics at … Continue reading

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