Economy

This tag is associated with 2150 posts

Halliburton – To cut 1,000 jobs

One of the largest oil service companies in the world scaled-back its workforce recently as prices remain stymied. Halliburton Co. announced it would cut 1,000 jobs amid falling oil prices. The layoffs will take place in Europe, Asia, Africa, the Middle East and Australia. No jobs in the Americas would be affected by the cuts. … Continue reading

Job Vacancies in Canada – Private sector vacancy rate is beginning to creep upward CFIB finds

After basically holding steady for the past two years, Canada’s private sector vacancy rate is beginning to creep upward. On a seasonally adjusted basis, 2.7 per cent of jobs lay vacant in these businesses—a tenth of a point higher than in the second quarter. Modest increases were seen in most business size categories. In total, … Continue reading

Greece – Unemployment falls to 25.7 pct in September

Greece’s jobless rate fell to 25.7 percent in September from a upwardly revised 26 percent rate in August as the country’s six-year recession eases, Greek statistics agency ELSTAT said on Thursday. September’s reading was the lowest since August 2012 when unemployment stood at 25.5 percent. The record high was set in September 2013, when unemployment … Continue reading

Australia – Unemployment rate in November at 12-year high

The unemployment rate has hit a 12-year high of 6.3%, fuelling talk of interest rate cuts in 2015. November’s figure is up from 6.2% the previous month despite the creation of 42,700 jobs, a figure nearly three times larger than economists were expecting. However, only 1,800 positions were full-time. The number of people looking for … Continue reading

Unemployment in Latin America and the Caribbean – Has continued to fall but will rise from 2015 says ILO

The International Labour Organization (ILO) today reported an unusual pattern in the urban unemployment rate in Latin America and the Caribbean during 2014, which continued to fall despite the economic slowdown. However, the Organization warned that slow growth has begun to impact the labour market. “There are warning signs,” said Elizabeth Tinoco, ILO Regional Director … Continue reading

Mining – Anglo American to cut about 60,000 jobs by 2017

Global miner Anglo American said on Tuesday it aimed to slim down its workforce and warned of a delay in reaching a key return on capital target due to weaker metal prices, putting its long-term revamp strategy in doubt.The company said by 2017 a programme of divestments and productivity improvements would leave it with around … Continue reading

BP – Thousands of job cuts to come

BP will cut thousands of jobs cut across its global oil and gas business by the end of next year in a $1 billion restructuring programme announced on Wednesday following steep falls in oil prices. The British oil major said it was also considering deeper cuts to its 2015 budget beyond the $1-$2 billion reduction … Continue reading

Automation, jobs, and the future of work – There’s always painful dislocation

The topic of job displacement has, throughout US history, ignited frustration over technological advances and their tendency to make traditional jobs obsolete; artisans protested textile mills in the early 19th century, for example… A conversation Reid Hoffman: If you look at most of the automation, it comes down to man–machine combinations. And all productivity means … Continue reading

November Job Report in Canada – Employment was little changed

Following two months of notable gains, employment was little changed in November. The unemployment rate increased 0.1 percentage points to 6.6%. Compared with November 2013, employment increased by 146,000 (+0.8%), with part-time and full-time work up 1.9% and 0.6% respectively. Over the same period, the total number of hours worked was little changed (+0.1%). In the six months to November, employment grew by … Continue reading

November Job Report in US – Total nonfarm payroll employment increased by 321,000, highest since January 2012

Total nonfarm payroll employment increased by 321,000 in November, and the unemployment rate was unchanged at 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by growth in professional and business services, retail trade, health care, and manufacturing. Household Survey Data In November, the unemployment rate held at 5.8 … Continue reading

Education System in China – Could better serve its industry and economic development

China should reform its education system to better serve its industry and economic development. And the public should eliminate their discrimination against blue-collar workers… A doctorate graduate in electronic engineering from Tsinghua University who took a job as a blue-collar electrician in Shanghai stirred wide debate on the value of academic qualifications in modern China. … Continue reading

Toyota in Australia – To cut 2,600 jobs

Japanese auto major Toyota Motor Corp. (TM: Quote) Wednesday said its production and sales subsidiary in Australia, Toyota Motor Corp. Australia Ltd. or TMCA, would consolidate its corporate functions in Melbourne, that will lead to closure of operations in Sydney. Toyota Motor noted that TMCA’s new business structure will be from 2018 onward. According to … Continue reading

ADP US National Employment Report, November 2014 – 208,000 jobs in the private sector

Private sector employment increased by 208,000 jobs from October to November according to the November ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by ADP®, a leading global provider of Human Capital Management (HCM) solutions, in collaboration with Moody’s Analytics. The report, … Continue reading

Full Employment – The case for Paid Vacation

If we can’t take steps to increase the demand for labor, we can go the other way and try to reduce the supply. Specifically, we can try to increase the number of people employed by reducing the average number of hours worked. That should not sound far out. This is exactly the route taken by … Continue reading

France – More people were unemployed in October than ever before

More people were unemployed in France in October than ever before, data released Thursday showed, highlighting continued weak activity in the eurozone’s second-largest economy. The Labour Ministry said the jobless total in mainland France rose by 28,400 to 3,460,900, a 0.8 percent increase over one month and 5.5 percent over one year. President François Hollande … Continue reading

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