Michel Cournoyer

Michel Cournoyer has written 6228 posts for Job Market Monitor

Jobless Claims in US – Rise by 23,000 to 302,000

The number of U.S. workers claiming unemployment aid rose last week after sinking to a 14-year low earlier in the month. Initial claims for unemployment benefits increased by 23,000 to a seasonally adjusted 302,000 in the week ended July 26, the Labor Department said Thursday. The figures were slightly better than expected. Economists surveyed by … Continue reading

Amgen (Biotechnology) – To cut between 2,400 and 2,900 jobs

Biotechnology company Amgen (IW 600/67) announced Tuesday that it will cut between 2,400 and 2,900 jobs and shutter two facilities in the United States in a reorganization to save money. Amgen (AMGN) plans to close facilities in Washington and Colorado as it cuts 12% to 15% of its workforce, with most of the job losses … Continue reading

Coding in EU – Skills shortage of 900,000 coders by 2020

The European Commission (EC) has warned that we face a shortage of 900,000 coders by 2020.  The number of computer science graduates is not keeping pace with demand for coding skills, the EC warned this week, as it tries to encourage young people to take up coding over summer. It also said that the number … Continue reading

Announced Job Cuts in IT – Up 68 percent in the irst half of 2014, without counting those by Microsoft

Even before Microsoft announced plans to reduce its workforce by 18,000, a new report shows that job cuts in the technology sector were well ahead of last year’s pace. Through the first half of 2014, employers in the technology sector announced plans to cut payrolls by 48,402, 68 percent more than the 28,883 announced layoffs … Continue reading

Hiring – Employee referrals and internal employees (with 42% of jobs) are the two main source

Employee referrals is still a dominant source of new hires: 25% of new hires results from these referrals. One out of 10 referred candidates gets hired The really interesting new finding is that the lion’s share of jobs is now filled by internal employees! Fully 42% of jobs are filled this way. You can understand … Continue reading

Inflation and Unemployment in US – The flattening of the Phillips curve

I’m thinking about the rest of us, starting at the top—with the Fed—who are struggling to figure out the nature of the tradeoff as the Fed begins to contemplate unwinding.  Given Chair Yellen’s (very appropriate) focus on job-market slack and thus her up-weighting of the full employment side of the mandate, there’s clearly some anxiety … Continue reading

South Africa – Unemployment at 25.5 in Q2 with our counting the 2,419,000 discouraged job seekers

The unemployment rate increased by 0.3 percent between the first and second quarters of this year to reach 25.5 percent, Statistics SA said yesterday.  The increase in the number of unemployed has resulted in an increase in the unemployment rate above pre-recessionary levels. The Quarterly Labour Force Survey revealed that almost 5.2 million people were … Continue reading

Nigeria – People blame politics and unemployment for terrorism attacks

Asked, “In your opinion, what is the major cause of terrorism in Nigeria?” 26 percent said  “Election/political interest” while 21 percent of respondents answered “unemployment”. Meanwhile 10 percent, 8 percent and 6 percent of individuals polled respectively said bad government/leadership, high level of poverty and corruption is the major cause of terrorism in the country. Chosen excerpts by … Continue reading

The US Middle Class – 20 percent poorer than it was in 1984

As the Russell Sage Foundation points out, the slow housing recovery means that, in 2013, median households were still 36 percent poorer than they were a decade earlier. In fact, the housing bust was big enough to erase all the gains the middle class had made the past 30 years—and then some. As you can see below, … Continue reading

Job Search and LinkedIn Profile – 10 Tips

LinkedIn is simple enough to use, but it is such a powerful and thorough tool that there are many points which can be easily overlooked. These incredibly useful tips are not only going to make your LinkedIn profile the strongest it can possibly be, they are also going to change the way you use your … Continue reading

Japan – Unemployment rises to 3.7% while job offer at 22-year high

The jobless rate rose for the first time in almost a year in June, while the ratio of job offers to seekers hit a 22-year high, official data showed Tuesday.  The unemployment rate edged up to 3.7 percent in June from 3.5 percent the month before, the internal affairs ministry said. It was the first … Continue reading

UI in US – Employers’ demand for workers remains weak and workers have not chosen to stay on benefits

Most state unemployment insurance fund accounts became insolvent in the wake of the Great Recession because states did not adequately fund them in the early to mid-2000s recovery. States that responded to the insolvency by cutting the duration of unemployment benefits did not save significant amounts of money or boost employment. There are no clear … Continue reading

Canada – The Job Market is worse than it appears

Employment Rate for 25-54 Year Olds To control for demographic effects, we take out groups that are often still in school (24 years and younger) or can potentially enter early retirement (55 and up). There are other endpoints we can use, but limiting the discussion to 25-54 year olds is the most common approach. Under … Continue reading

Bridging the Gap Between Employer and Job Seekers

(Guess Posts by by Rebecca Gray) If you happen to be unemployed and have been seeking a position for some time, but have met with little success, you might find yourself confused by recent statistics that indicate a steady decrease in unemployment claims, not to mention the frequently published projections of a rosy employment picture … Continue reading

Youth Unemployment – Current high levels will be felt by society for decades

It is clear that youth unemployment leads to many negative outcomes in terms of both material and mental wellbeing. Here, Ronald McQuaid summarises the multiple scarring effects of youth unemployment. Current high levels of youth unemployment will therefore be felt by society for decades, making effective policy responses incredibly important.  Being unemployed when young leads to a higher likelihood … Continue reading

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