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Europe – The downturn has been under way for years
The euro zone is hurtling back into recession, economists declared after official figures this week portrayed a shrinking economy. But by some measures the downturn has been under way for years. With the exception of Germany, none of Europe’s biggest economies have returned to the level of economic output they had at the beginning of … Continue reading
Sharp – Thousands more layoffs
Sharp Electronics may cut thousands more jobs even after it executes its present plan to cut five thousand jobs. Sharp hopes the cuts will improve its balance sheet. Sharp is even considering the sale of it its building in Tokyo and land owned in western Japan. A report in the Mainichi Shimbun claims that the … Continue reading
Lack of skilled iraqi employees preventing oil industry progress
In a country where the unemployment rate has caused mass demonstrations, one local economist believes that Iraq lacks thousands of skilled workers for the oil industry – and that this is preventing progress in the all-important oil industry. It is the lack of skilled local labour in Iraq’s oil and gas industries that is preventing … Continue reading
Don’t Stay Home – Long-Term Jobless Regroup to Fight the Odds
The analysts pore over the numbers every month, the full menagerie of economic indicators. President Obama and Mitt Romney trade barbs over who is at fault for a sluggish recovery. But here, in a region with one of the highest unemployment rates in the country, other numbers often loom larger. There are the roughly … Continue reading
Australia – Mines may turn to less-skilled workers
THE Department of Treasury has been told mining companies may be forced to use less experienced staff to proceed on a significant pipeline of construction in the sector. In its quarterly economic roundup, Treasury says the mining industry is facing challenges recruiting and contracting workers, particularly for highly-specialised technical positions. “With a significant pipeline of … Continue reading
Outsourcing in India – US plans to stop it
The Obama Administration has announced setting up of an institute for manufacturing innovations which will help prevent jobs going to India and China. “This institute will help make sure that manufacturing jobs of tomorrow take root not in places like China or India, but right here in the United States of America,” US President Barack … Continue reading
India – Infosys pays less than in US for the same job
The trial in the alleged visa fraud case against software services major Infosys in the US has been postponed by almost a month to September 17. The trial related to visa fraud allegations levelled by Infosys’ former employee Jack Palmer was scheduled to start on August 20 in the US court. According to sources, it … Continue reading
Wisconsin – Total job growth was just 1.1 percent because of government job losses
Another report also released Thursday by Walker’s Department of Workforce Development showed the state lost 6,000 private sector jobs in July and the unemployment rate increased from 7 percent to 7.3 percent. The divergent reports are derived from different surveys covering different periods of time. The quarterly report, covering January through March, is based on … Continue reading
German economic strength: Fewer hours, not particularly productive and less time at school
Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time at school than most of its neighbours. Hardly a recipe for economic success, you might think. But the country described above is none other than Germany, Europe’s industrial powerhouse and the … Continue reading
Where the Skills Gap Really Resides: a huge mismatch at the middle-skill level
It is those people who have not earned the minimum of a two-year degree that Scaglione says constitute a large population of our country who are stuck in low-skilled jobs that do not require any higher education. Low-skilled jobs that do not require a minimum of a two-year degree represent about 35 percent of all … Continue reading
New Jersey – Unemployment Rate at 35-Year High (9.8%)
New Jersey’s unemployment rate jumped to a 35-year high of 9.8 percent in July, the state Labor Department said. The rate climbed from 9.6 percent in June and is above the national level of 8.3 percent, which also increased last month. New Jersey lost 12,000 jobs in July, with the largest drops in manufacturing, construction, … Continue reading
Chart – International comparaison of employment-population ratios by sex
In 2011, among countries covered by the BLS international comparisons program, Mexico had the highest employment-population ratio among men (72.4 percent), and Canada and New Zealand had the highest employment-population ratios among women (58.5 and 58.3 percent, respectively). via International employment-population ratios, 2011.
U.S. Currency – The paper company used to make the paper since 1879 plans layoffs
The western Massachusetts company that has provided the paper used to make U.S. currency since 1879 has announced plans to lay off 55 workers. Dalton-based Crane & Co. says the job eliminations announced Wednesday are part of a consolidation plan to rejuvenate the 211-year-old paper company’s stationery business. The Berkshire Eagle reports that layoffs will … Continue reading
Unemployment Rates – U.S. vs other ‘mature’ economies – A Graph
How does the performance of the American economy compare to other similar economies–i.e., “mature” market economies, with high per capita GDP. With that in mind, take a look at this graph of unemployment rates over the past 12 years, and at my comments on it below. Focus on the maroon, yellow, and light blue lines. … Continue reading
Unemployment Insurance Claims – Up by only 2,000
SEASONALLY ADJUSTED DATA In the week ending August 11, the advance figure for seasonally adjusted initial claims was 366,000, an increase of 2,000 from the previous week’s revised figure of 364,000. The 4-week moving average was 363,750, a decrease of 5,500 from the previous week’s revised average of 369,250. The advance seasonally adjusted insured unemployment rate was 2.6 percent … Continue reading
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