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Arch Coal Layoffs – 750 workers in Appalachia
One of the world’s largest coal producers said Thursday it would lay off about 750 workers in the Kentucky, Virginia and West Virginia coalfields, the latest setback for an industry struggling to sustain market share as utilities switch to cleaner and cheaper alternatives to generate electricity. The bulk of the cuts by Arch Coal Inc., … Continue reading
Book: Why Good People Can’t Get Jobs: The Skills Gap and What Companies Can Do About It | Wharton Digital Press
Even in a time of perilously high unemployment, companies contend that they cannot find the employees they need. Pointing to a skills gap, employers argue applicants are simply not qualified; schools aren’t preparing students for jobs; the government isn’t letting in enough high-skill immigrants; and even when the match is right, prospective employees won’t accept … Continue reading
France – Lessons on Youth Unemployment and Youth Employment Policy
The last crisis has merely amplified what is an increasingly problematic structural issue in France: Youth unemployment. In the last 30 years, the youth unemployment rate has never dropped below 15% and has regularly exceeded 20%. Yet, integrating young people into the labour market has been an ongoing public policy objective since the end of … Continue reading
Listen to John Maynard Keynes’ voice on High Unemployment
When someone questions the effectiveness of Keynesian economics, the obvious reply is: Remember World War II? The British economist John Maynard Keynes argued that there is a role for government intervention when aggregate demand for goods and services drops, as it did during the Great Depression. Without increased public spending to make up for decreased … Continue reading
States with the Longest Stretches of Unemployment
In the annals of states with long stretches of high unemployment, Nevada seems destined to become the poster child for the Great Recession and foreclosure crisis. The state has an 11.9% unemployment rate — a half a percentage point higher than runner up Rhode Island. Nevada has led the nation in unemployment for 27 months, … Continue reading
The Global Skill Gap: 38 million to 40 million fewer workers with tertiary education than employers will need
Over the past three decades, as developing economies industrialized and began to compete in world markets, a global labor market started taking shape. As more than one billion people entered the labor force, a massive movement from “farm to factory” sharply accelerated growth of productivity and per capita GDP in China and other traditionally rural … Continue reading
Unemployment Insurance Weekly Claims Report: Not an indication of a dynamic job market.
SEASONALLY ADJUSTED DATA I SEASONALLY ADJUSTED DATA In the week ending June 16, the advance figure for seasonally adjusted initial claims was 387,000, a decrease of 2,000 from the previous week’s revised figure of 389,000. The 4-week moving average was 386,250, an increase of 3,500 from the previous week’s revised average of 382,750. The advance seasonally adjusted insured … Continue reading
Keynes’ Economic Possibilities for our Grandchildren
As people in the developed world wonder how their countries will return to full employment after the Great Recession, it might benefit us to take a look at a visionary essay that John Maynard Keynes wrote in 1930, called “Economic Possibilities for our Grandchildren.”… Source: “Labor’s Paradise Lost” by Robert Skidelsky | Project Syndicate.
Northen Ireland – ‘Do nothing executive’ sleepwalks job crisis
NI Conservatives’ economy spokesman, Johnny Andrews, has accused the Executive of ‘sleepwalking towards a jobs crisis’ and failing to ‘deliver a boost for business’, after the latest labour statistics revealed an increase in unemployment and economic inactivity in Northern Ireland. “The Executive’s Programme for Government promised that creating jobs would be a priority, but it … Continue reading
Greece and Germany: Ex-East residents resent paying for
Germany may be Europe’s most powerful economy. But its prosperity is so uneven that Poles just across the border see it differently: as a place where housing is a bargain. Fueled by an economic boom in their own country, Poles have been spilling into the former East Germany, still one of the poorest parts of … Continue reading
Canada – IKEA Now Hiring in Winnipeg
IKEA announced today that as the opening of the retailer’s newest store in Winnipeg approaches, the company is launching a major recruitment campaign. IKEA will be hiring 300 new co-workers, to support the new 390,000 square foot store. The new co-workers will be welcomed into an engaging environment with a strong focus on people and … Continue reading
New Australia visa policy: Malaysia fears brain drain
The new visa policy in Australia allows foreign graduates to apply for residency in the country and DAP Secretary-General Lim Guan argued that it could lead to widespread brain drain, deficits and an exodus of young people from the country. The new visa rules to be put in place next year by Australia will grant … Continue reading
Canada – Employment Insurance, April 2012 – Down 28,600 (-5.3%) to 513,700
The number of people receiving regular Employment Insurance (EI) benefits decreased for the third consecutive month in April, down 28,600 (-5.3%) to 513,700. The number of beneficiaries decreased in nine provinces, with the largest percentage declines occurring in Quebec, Ontario, Alberta and Saskatchewan. Source: The Daily — Employment Insurance, April 2012.
UK – Accor to create 3,500 in three years
Accor, the hotel operator has launched people development strategy, strengthening its commitment to providing a learning and development support to its future and existing employees across its network of 185 hotels in the UK. Académie Accor unveils today its new campus in London, a first-of-its-kind UK professional training centre offering exceptional teaching facilities to ensure … Continue reading
China – Factories production drops for an eighth consecutive month
China’s factory sector shrank for an eighth straight month in June as export orders sentiment hit its weakest level since early 2009, according to a survey that indicates the country’s economic trough may extend well into the third quarter. The HSBC Flash Purchasing Managers Index, the earliest monthly indicator of China’s industrial activity, fell to … Continue reading
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