Economy

This tag is associated with 1913 posts

US – Looking beyond the Unemployment rate

Looking for an alternative to the Unemployment rate ? Try the employment:population ratio.  One alternative is to ignore the question of who is actively looking for work and focus, instead, on who is working. Specifically, check to see how many people there are in our state and then find out how many of them have … Continue reading

OECD in Q4 2013 – employment rate increased to 65.3%

The OECD area employment rate – defined as the share of people of working-age who are in employment – increased by 0.1 percentage point (to 65.3%) in the fourth quarter of 2013. This was the third consecutive quarterly increase, but the level is still 1.2 percentage points below the one recorded in the second quarter … Continue reading

Imperial Tobacco in Europe – To cut 900 jobs

Imperial Tobacco Group PLC Tuesday announced restructuring measures in Europe that will result in up to 900 job losses.  The restructuring is part of a cost-optimization program that will deliver savings of GBP300 million ($502 million) a year from September 2018, said Imperial, whose cigarette brands include Davidoff and Gauloises. The projects are planned to … Continue reading

JPMorgan Chase – 3,000 mortgage jobs cut in Q1 2014

US-based global bank JPMorgan Chase has eliminated approximately 3,000 mortgage jobs during the first quarter of 2014, as part of its strategy to streamline the mortgage business amid sluggish demand for home financing in the country. The latest cuts are in addition to the 13,000 to 15,000 positions, which primarily were supposed to be implemented … Continue reading

SABMiller in SA – To cut 400 jobs says the employer, 1,400 says union

Brewer SABMiller plans to cut 400 jobs at its Amalgamated Beverage Industries soft-drinks bottling unit in South Africa as part of a structural revamp, ABI said on Monday.  However, a union representing workers at ABI said the layoffs at one of the biggest bottlers and distributors of Coca Cola brands in the southern hemisphere would … Continue reading

Canada – CBC to cut 657 jobs

CBC president Hubert Lacroix announced on Thursday afternoon that 657 jobs would be eliminated over the next two years for reasons that included — although were not limited to — the end of Hockey Night in Canada production at the CBC.  Most of the positions will be cut in the months ahead as the Saturday … Continue reading

Australia in March – Unemployment Rate fell to 5.8%

The unemployment rate has fallen to a four-month low, in what is being read as a sign of an improving economy.  The jobless rate was 5.8% in March, down from 6.1% in February, according to seasonally-adjusted figures from the Australian Bureau of Statistics. The number of people with jobs rose 18,100 in March after a … Continue reading

The first annual “European Jobs and Skills review”

The first annual European Jobs and Skills review takes an in-depth look at trends in employment and unemployment in countries and regions across Europe, tackling the critical issues of underemployment, structural unemployment, productivity and wages, changes in the nature of work, skills supply, labour market gaps and youth unemployment.  The world is changing rapidly due … Continue reading

Cuba – 100,000 health care jobs cut

Cuban authorities say they have eliminated more than 100,000 jobs in health care, considered one of the “pillars” of the 1959 revolution.  The cuts come as President Raul Castro tries to streamline government as part of a broader economic reform package. The weekly labor newspaper Trabajadores said Monday that 109,000 health care positions have been … Continue reading

March Job Report in US – Good news, total nonfarm payroll employment rose by 192,000 and UR unchanged at 6.7 percent

Total nonfarm payroll employment rose by 192,000 in March, and the unemployment rate was unchanged at 6.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in professional and business services, in health care, and in mining and logging. Household Survey Data In March, the number of unemployed persons was essentially unchanged at … Continue reading

Renault’s Pact with Union – To cut 2,500 jobs in first year

Renault (RENA.PA: Quote) has cut about 2,500 jobs in the first year of a productivity deal with French unions and is on course to meet its savings goals, the carmaker said on Thursday.  “We’re at about one-third of the objective” of 7,500 positions to be eliminated under the three-year plan, the carmaker’s head of French … Continue reading

Germany – The number of jobless remained above 3 million

Unemployment in Germany fell in March, according to the latest figures from the Federal Employment Agency (BA), but the number of jobless remained above 3 million.  The positive trend, albeit a slight one, left overall unemployment in Germany at 7.1 percent, one of the lowest in the 18-nation eurozone. Compared to one month ago, some … Continue reading

ATT – Over 3,000 hires

AT&T* will hire more than 3,000 retail sales and sales management employees nationwide over the next several months. The new employees are needed to meet increased customer demand in the company’s growing retail business.  “AT&T’s award-winning retail team is focused on delivering an extraordinary customer experience with every interaction,” said Paul Roth, president of retail … Continue reading

ADP on US National Employment Report – Private sector employment increased by 191,000 jobs from February to March

Private sector employment increased by 191,000 jobs from February to March according to the March 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

Ford in Russia – To cut about 950 jobs

Ford Motor Co. (F:US)’s Russian joint venture is cutting about 950 jobs at two factories in response to the falling ruble and deteriorating demand in the country.  A car plant run in partnership with OAO Sollers near St. Petersburg will eliminate about 700 positions as it drops a work shift in June, John Gardiner, a … Continue reading

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