Economy

This tag is associated with 2236 posts

Nigeria unemployment rate at 7.5% for the first three months of 2015- How it is calculated

The claim by Nigerian statisticians that the country’s unemployment rate nowadays stands at less than 10% was met with scepticism. “My reaction is simple: I don’t believe the statistics of the National Bureau of Statistics,” a union leader told the newspaper Leadership. And in a report headlined “Outraged Nigerians blast govt over 6.4% unemployment claim” the … Continue reading

Job Report in US – Payroll employment rises by 223,000 in June; unemployment rate declines to 5.3%

Editor’s note: While the establishment survey says that payroll employment rose by 223,000 in June, the household survey indicates that the number on people employed dropped by 56 000. This kind of result is not unusual, but it tends to come near turning points. Next months and other indicators will tell us. Total nonfarm payroll employment … Continue reading

US – Gallup’s Job Creation Index at Record High of +32 (June 2015)

Gallup’s U.S. Job Creation Index remained high in June at +32. The index score — based on 43% of workers saying their employer is hiring workers and expanding the size of its workforce and 11% saying their employer is letting workers go and reducing the size of its workforce — is the same as what … Continue reading

US Job Market – Confidence strongest since Great Recession

Consumers are growing more upbeat about the U.S. labor market, with confidence reaching the highest levels since around the start of the Great Recession, according to a report released Tuesday. “The number of consumers reporting that labor conditions were bad has now declined for three months in a row, a reflection of the continued robust … Continue reading

Canada – The economy shrank 0.1% in April

Canada’s economy shrank by 0.1 per cent in April as a large drop-off in the value of domestically made goods wasn’t offset by a slight increase in output from the service sector. Statistics Canada said Tuesday that the economy has contracted every month this year. The goods-producing sector contracted by 0.8 per cent. The service sector, meanwhile, … Continue reading

Italy – Employment is rising but wage growth remains suppressed

Although wage growth remains suppressed, rising employment and improved sentiment are aiding consumer spending. Italy’s currency is represented by CurrencyShares Euro Trust (NYSEARCA:FXE). In May, the wage figure came in at an annual pace of 1.1%, below the previous month’s reading of 1.2%. After peaking at over 4% in 2009, wages have significantly declined to … Continue reading

Employment Growth Rates in Canada – Most firms exhibit little organic growth StatCan finds

Studies on job growth typically seek answers to questions such as: What is the source of the growth of jobs? Does job growth lie predominantly in small, large, young or old firms? Where is job growth strongest? Where is it most volatile? An earlier Statistics Canada study, published in The Daily on July 5, 2012, showed that … Continue reading

Job Report in UK – Employment up 114,000 compared with the previous quarter

There was an increase in employment and a fall in unemployment, when comparing February to April 2015 with the 3 months to January 2015. Main points for February to April 2015 Comparing the estimates for February to April 2015 with those for the 3 months to January 2015, employment continued to rise and unemployment continued … Continue reading

National Oilwell Varco – To cut 1,500 jobs

Houston-based oil equipment maker National Oilwell Varco’s Norwegian arm said Wednesday it is shedding 1,500 jobs, or about a third of its staff here, as sales drop on lower oil prices and industrywide spending cuts, a day after Norway’s dominant oil company Statoil ASA announced a similar-sized job cut. National Oilwell Varco Norway said it … Continue reading

Temporary Help Employment in US – Accounts for a large share of gross job losses and job gains

The temporary help industry accounts for about 2 percent of average daily employment in the U.S. economy but plays an outsized role in workforce adjustment during recessions and recoveries. During the last recession, the largest since the Great Depression of the 1930s, employment in the temporary help industry contracted by 30 percent and accounted for … Continue reading

US Job Report for May – Total nonfarm payroll employment increased by 280,000 and

Total nonfarm payroll employment increased by 280,000 in May, and the unemployment rate was essentially unchanged at 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, leisure and hospitality, and health care. Mining employment continued to decline. Household Survey Data In May, both the unemployment rate … Continue reading

Canada Job Report for May – Employment increased by 59,000

Employment increased by 59,000 in May, driven by gains in the number of private sector employees. The number of people participating in the labour market also rose in May, leaving the unemployment rate unchanged at 6.8% for the fourth consecutive month. Since the beginning of 2015, employment gains have averaged 20,500 per month. In the 12 months to May, employment increased by 192,000 (+1.1%), the … Continue reading

France – Unemployment at record high

The jobless rate in France jumped to a fresh record high in April, in a blow to President Francois Hollande, who has pledged not to seek a second term in office if he fails to reverse the increase in unemployment. The number of people out of work in eurozone’s second largest economy climbed 26,000 in … Continue reading

South Africa – Unemployment rate rises to 26,4%

South Africa has been hit by a double whammy: Stats SA released two sets of economic data today and both results were disappointing.  The unemployment rate has risen sharply in the first quarter of this year, with 26,4 percent of potentially economically active South Africans not working. South Africa has nearly 36-million employable people, but … Continue reading

Global Supply Chains – Jobs shrink ILO finds

Global supply chains (GSCs)* developed at a fast rate over the last two decades and the number of jobs associated with them grew rapidly from the late 1990s until the financial crisis, reaching almost 500 million by 2007. But after a sharp drop in 2009, GSC-related jobs have only recovered modestly and their share of … Continue reading

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