Michel Cournoyer

Michel Cournoyer has written 6931 posts for Job Market Monitor

Royal Bank of Scotland (RBS) – To slash thousands more jobs

The bank, which has now reported seven straight losses adding up to £49.7bn since its 2008 bail-out, also said it would slash thousands more jobs in a dramatic restructuring of its investment bank, exiting two-thirds of the unit’s geographies and cutting around £70bn of assets. Chosen excerpts by Job Market Monitor. Read the whole story at  RBS … Continue reading

Microsoft in China – To cut 9,000 Nokia jobs

Microsoft Corp. plans to shut two mobile-handset manufacturing plants in China formerly run by Nokia Corp., cutting about 9,000 jobs in total, various reports said Thursday. Microsoft, which bought Nokia’s handset business last April, scheduled the closure of the plants — located in Beijing and the southeastern city of Dongguan — earlier this month and … Continue reading

Workplace pension scheme membership in UK – Up to record 59% in 2014, from 50% in 2013 ONS finds

Workplace pension scheme membership has increased to 59% in 2014, from 50% in 2013, driven by increases in membership of occupational defined contribution and group personal and group stakeholder schemes.The increase is likely to be driven by automatic enrolment. Occupational defined benefit pensions schemes represented less than half (49%) of total workplace pension membership in … Continue reading

Minimum Wage in UK – Low Pay Commission recommends 3%

The Low Pay Commission (LPC) has today recommended to the Government that the adult rate of the National Minimum Wage, which applies to workers aged 21 and over, should rise by 3 per cent to £6.70 from October 2015. The LPC’s aim is to advise on a rate that protects as many low-paid workers as … Continue reading

Zero-hours Contracts in UK – Save the country from eurozone levels of unemployment’ – Telegraph

Business groups defend companies who use zero-hour contracts after new figures reveal 697,000 people in the UK are on them Business groups have defended companies using zero-hours contracts, arguing that they have protected the UK from the high levels of unemployment seen on the continent. The Institute of Directors (IoD) and Confederation of British Industry … Continue reading

Walmart’s Raise – Could it raise the floor for the entire labor force ?

Remember when Walmart got panned for running a Thanksgiving food drive for its own employees—overlooking the irony of demonstrating noblesse oblige by asking customers to subsidize the workers the company itself impoverished? The retail giant took a more strategic approach last week when rolling out its latest do-gooder scheme: raising its base wage incrementally to … Continue reading

Unemployment leads to 45,000 suicides every year study finds

One in five suicides around the world is caused by this and the figure is rising.  Unemployment is linked to 45,000 suicides around the world each year, a new study finds. This represents around one in five of the total number of global suicides. The research, published in The Lancet Psychiatry, gathered data from 63 … Continue reading

Closing the Skills Gap in US – Walmart pledges $100 million to boost jobs

America’s largest company launches a new initiative to help the retail industry close the skills gap that keeps Americans unemployed.  One week after announcing plans to increase the pay of low-wage workers to at least $9 an hour, Walmart is delivering more good news on the job front: The company will donate $16 million to … Continue reading

2015 US Manufacturing Skills Gap Report – The skills gap is widening

A strong manufacturing industry is fundamental to our nation’s economic prosperity. Since the industrial revolution, manufacturing has contributed to higher export potential, better standards of living, and more jobs. Investments in manufacturing have a strong multiplier effect for the broader economy, too. Every dollar spent in manufacturing adds $1.37 to the U.S. economy, and every 100 … Continue reading

UK – The Migration Advisory Committee (MAC) reports on the partial review of the shortage occupation list (SOL)

In the year ending September 2014, 46,000 Certificates of Sponsorship (CoS) applications were made for out-of-country, non-EU citizens to permit them to work in the UK. There are three main routes: Thus, the shortage occupation route accounts for only a small fraction (3.0 per cent) of the total annual inflow of non-EU work migrants. In … Continue reading

Millennials in US – Myths, Exaggerations and Uncomfortable Truths : an IBM Study

IBM today announced that pretty much everything you thought you knew about Millennials could well be wrong. A new IBM study reveals much of the hype about Millennial employees simply isn’t true. They aren’t the “lazy, entitled, selfish and shallow” workers that many believe them to be. The results of the global, multigenerational study “Myths, Exaggerations and Uncomfortable Truths” … Continue reading

Canada –  4.8 unemployed people for every job vacancy in November 2014

Canadian businesses reported 247,000 job vacancies in November, an increase of 27,000 compared with November 2013. There were 4.8 unemployed people for every job vacancy, down from 5.6 a year earlier. This decline in the ratio was the result of both fewer unemployed people and more job vacancies. The national job vacancy rate was 1.6% in November, up from 1.5% recorded 12 months earlier. via The Daily — Job vacancies … Continue reading

US – Non-routine cognitive analytic and non-routine physical demands are associated with worse health, earlier labor force exit, and increased use of Disability Insurance

Work accounts for a significant portion of Americans’ daily lives and is increasingly recognized as a determinant of health status. Research dating to the Whitehall study results of the 1970s has shown a relationship between occupation and long-term health outcomes including mortality, diabetes and cardiovascular disease that cannot be explained by differences in income, education, … Continue reading

US – Alternative entrepreneurship measures indicate that entrepreneurship is back to pre-crisis levels Boston Fed finds

In recent years, it is argued, the level of entrepreneurial activity in the United States has declined, causing concern because of its potential macroeconomic implications. In particular, it is feared that a lower rate of firm creation may be associated with lower productivity growth and, hence, lower economic growth in the coming years. This paper … Continue reading

US – Unemployment rates among college graduates are declining

Hard times are becoming better times for most college graduates, though how much better varies widely among college majors – and for Communications and Journalism majors, whose unemployment rates are still rising, better times have yet to arrive. Overall, however, unemployment rates among college graduates are declining. The earnings advantage they enjoy over high school … Continue reading

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