Business

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Layoffs in Finland – The autumn will be even bleaker than the summer

The autumn will be even bleaker than the summer in terms of unemployment, according to employment experts. Firms are no longer simply putting employees on furlough, but are more eager to terminate their agreements outright. One researcher says that the situation can now be described as mass unemployment. Chosen excerpts by Job Market Monitor. Read … Continue reading

Brazil After The World Cup – In recession

Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading

Atlantic City – 6,000 layoffs of casino workers to come next week

One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading

Canada – Business entry rate declined from 24.5% to 13.1% from 1983/1984 to 2011/2012 finds StatCan

Firm entry and exit are an important source of dynamism that is essential to a well functioning economy. The entry of new firms is an important source of productivity growth and technology adoption while exit removes less productive firms. Based on a new set of linked, experimental data for the period 1983/1984 to 2011/2012, Canada’s … Continue reading

US – Employers are no longer investing resources in training

Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading

Cost Competitiveness – The old worldview now appears to be out of date

For the better part of three decades, a rough, bifurcated conception of the world has driven corporate manufacturing investment and sourcing decisions. Latin America, Eastern Europe, and most of Asia have been viewed as low-cost regions. The U.S., Western Europe, and Japan have been viewed as having high costs. But this worldview now appears to … Continue reading

Europe – The recession is really a depression

Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading

Cisco – To cut 6,000 jobs

Cisco will cut its worldwide staff by 6,000 in the coming months as it battles against slow growth, particularly in emerging markets, where the demand for high-end switches and routers don’t have such high demand. The company hasn’t revealed which roles will be affected, nor in which territories, but it says the action had to … Continue reading

Deere – To cut over 600 factory jobs

Agricultural machinery maker Deere & Co. (DE: Quote) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff. via Deere To Cut Over 600 Factory Jobs At … Continue reading

Thai Airways – To cut 1,500 jobs this year

Thai Airways expects to return to profit earlier than expected in the fourth quarter, aiming to cut 1,500 jobs this year under its recently approved restructuring plan. The airline also said it would shed more than a quarter of its full-time employees by 2018, the first major job cuts announcement since the plan was given … Continue reading

Jobs Openings in US in June 2014 – Increased to 4.7 million, highest since 2001

Jobs openings increased in June to 4.671 million from 4.577 million in May.   This is the highest level since February 2001. Chosen excerpts by Job Market Monitor. Read the whole story at  Calculated Risk: BLS: Jobs Openings increased to 4.7 million in June, Highest since 2001.

US – Headcount additions remain highly targeted in the face of ongoing skills gaps and rising wage pressure says PwC

In the first quarter of this year, 63% of Trendsetter companies told us they’d add staff in the next quarter, the highest level we’ve seen in several years. So we weren’t particularly surprised when the US Bureau of Labor Statistics announced that June’s unemployment rate had dropped to 6.1%. In fact, average unemployment in 2Q14 … Continue reading

US – Companies are getting older, not just people

Not only is the American population aging, businesses in the U.S. also are growing older. Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at … Continue reading

US Job Report for July 2014 – Total nonfarm payroll employment increased by 209,000 and UR little changed at 6.2 percent

Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, retail trade, and construction. Household Survey Data Both the unemployment rate (6.2 percent) and the number of unemployed persons … Continue reading

Bombardier – More job cuts planned

Canada’s Bombardier Inc plans to cut more jobs and halt new hiring to help save costs, it said on Thursday, and added that commercial talks for a Russian assembly plant are ongoing despite sanctions. Bombardier, which manufactures planes and trains, also sought to allay worries about the pace of its cash burn after posting higher … Continue reading

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