Economy

This tag is associated with 1998 posts

Bombardier – 1,800 jobs to be cut

Bombardier Aerospace president and CEO Guy Hachey is retiring after six years in the post amid a restructuring of its operations that will result in the layoff of 1,800 employees. The Montreal-based company (TSX:BBD.B) says its aerospace division will operate in three segments — business aircraft, commercial aircraft and aerostructures and engineering services — each … Continue reading

Ethiopia – Cheap labor and electricity attract investment

A combination of cheap labor and electricity and a government striving to attract foreign investmentmakes Ethiopia more attractive than many other African nations, said Deborah Brautigam, author of “The Dragon’s Gift: The Real Story of China in Africa” and a professor of international development and comparative politics at Johns Hopkins University’s School of Advanced International … Continue reading

Allergan – To cut about 1,500 jobs

Allergan Inc., the maker of the wrinkle remover Botox, will cut 1,500 jobs and eliminate another 250 vacant positions as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International Inc. The job cuts, representing 13 percent of Allergan’s global workforce, and further restructuring will lead to savings of about $475 million next … Continue reading

Microsoft – To cut 18,000 jobs at Nokia

Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company’s 39-year history and … Continue reading

UK – To the record rate of employment set in 2005 says rime Minister David Cameron

Prime Minister David Cameron said this was now equal to the record rate of employment set in 2005. “Today’s figures show more people have the security of a job than ever before. Full employment is a key aim of our long-term economic plan,” he said. via BBC News – UK unemployment falls to six year … Continue reading

US – Federal Reserve has reduced unemployment by 0.13%

A paper written by two staff members of the Federal Reserve Bank of Atlanta tried to quantify what all the Fed’s new money creation and related measures have accomplished. They conclude that unemployment today would be 0.13% higher without the radical measures and 1.0% higher if nothing at all had been done. Chosen excerpts by … Continue reading

Unemployment rate in Australia – Back to 10-year high

AUSTRALIA’S unemployment rate has bounced back to six per cent, with some economists flagging it could climb higher. THE unemployment rate rose in June from a revised 5.9 per cent for May, largely because of an increase in the number of people looking for work. The jobless rate is now back where it was at … Continue reading

Canada – Employment was little changed in June, unemployment rate at 7.1%

Employment was little changed in June and the unemployment rate rose by 0.1 percentage points to 7.1% as more people were searching for work. Compared with 12 months earlier, employment increased by 72,000 or 0.4%. This was the lowest year-over-year growth rate since February 2010, when year-over-year employment growth resumed following the 2008-2009 labour market downturn. Chart 1 Employment   Chart 2 Unemployment rate  via The Daily — Labour Force Survey, June 2014.

US – Hiring is up but wage growth is not

Companies have finally begun taking on staff in consistently greater numbers, half a decade after the end of a deep recession brought on by one of the most punishing financial crises in history. What companies haven’t been doing yet is offering consistently greater pay. That means an urge to start bringing forward expectations for when the … Continue reading

US – The Employment Situation in June as seen by The White House

KEY POINTS IN TODAY’S REPORT FROM THE BUREAU OF LABOR STATISTICS 1. The private sector has added 9.7 million jobs over 52 straight months of job growth. Today we learned that total nonfarm payroll employment rose by 288,000 in June, mainly reflecting a 262,000 increase in private employment, which is above the 203,000 per month … Continue reading

June US Job Report – Total nonfarm payroll employment increased by 288,000 and unemployment rate declined to 6.1 percent, the lowest since September 2008

Total nonfarm payroll employment increased by 288,000 in June, and the unemployment rate declined to 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains were widespread, led by employment growth in professional and businessservices, retail trade, food services and drinking places, and health care. Household Survey Data In June, the unemployment rate … Continue reading

US – Private-sector employment increased by 281,000 says ADP Job Report for June 2014

Private-sector employment increased by 281,000 from May to June, on a seasonally adjusted basis. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report – June 2014 | NER.

Europe – Unemployment rate stable at 11.6% in May 2014, counting 5.187 million young unemployed

The euro area (EA18) seasonally-adjusted unemployment rate was 11.6% in May 2014, stable compared with April 2014, but down from 12.0% in May 2013. The  EU28 unemployment rate was 10.3% in May 2014, down from 10.4% in April 2014, and from 10.9% in May 2013. These figures are published by Eurostat, the statistical office of … Continue reading

Africa – To provide employment to 200 million people aged between 15-24

Approximately 1 billion people live in the world’s second-largest continent. Only Asia has more people but Africa now has the fastest growing population. If current trends continue, the number of Africans will rise to 1.4 billion in 2025 and to 1.9 billion in 2050. A third of the babies born in the world will be … Continue reading

Bosch in Belgium – To cut 400 jobs

German industrial group Bosch will cut up to 400 jobs, or about a third of the workforce at a windscreen wiper factory in Tienen, Belgium, the company said on Thursday. The cuts, which will be implemented by 2020, were a result of increased competition and the aim of making the production process more efficient through … Continue reading

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