Job Market Monitor
Michel Cournoyer
HTC – To cut 2,300 jobs
Struggling HTC is cutting 15% of its work force in an attempt to cut costs and revive its ailing smartphone business. The Taiwanese company announced the layoffs on Thursday, after its second quarter earnings took a dive, for a $257 million loss. HTC declined to mention the exact number of layoffs. But as of … Continue reading
Lenovo – 3,200 jobs cut
China’s Lenovo Group, the world’s biggest personal computer maker will lay off about 3,200 workers after profits more than halved in the second quarter of 2015, the company announced on Thursday, becoming the first Chinese firm to slash jobs. The job cut, which will be conducted in the company’s non-manufacturing work force, accounts for about … Continue reading
Downsizing – The folly of the traditional approaches
Traditional downsizing approaches suffer from several common pitfalls: Failing to factor in relative individual contributions: Blanket cuts often seem the fairest and simplest way to manage headcount reductions, but they often cut too deeply in hard-to-fill skillsets and too little in areas where skills are abundant. A better approach takes econometric and external talent pool … Continue reading
The Working Poor in US – About 45.3 million people, or 14.5 percent of the nation’s population
In 2013, according to the U.S. Census Bureau, about 45.3 million people, or 14.5 percent of the nation’s population, lived below the official poverty level. Although the poor were primarily children and adults who had not participated in the labor force during the year, according to data from the Bureau of Labor Statistics, 10.5 million … Continue reading
Canada — Job vacancy was 2.6% in the first quarter of 2015
There were almost 400,000 job vacancies in Canada and the job vacancy rate was 2.6% in the first quarter—as indicated by a new survey conducted in early 2015. This is the first release of the Job Vacancy and Wage Survey (JVWS). This release draws on data from the job vacancy component of this survey, with information on job vacancies … Continue reading
Kraft Heinz – 2500 emplois supprimés au Canada et aux États-Unis, plusieurs à Montréal
Le groupe agroalimentaire Kraft Heinz va supprimer 2500 emplois, soit plus de 5% de ses effectifs, afin de réduire ses coûts, a indiqué mercredi à l’AFP un porte-parole. Plusieurs dizaines d’employés de l’usine de Ville Mont-Royal à Montréal ont perdu leur emploi ce matin. On ignore le nombre exact pour l’instant. Ces suppressions d’emplois vont … Continue reading
Minimum Wage Around the World – A Chart for OECD’s 34 member countries
Supporting low-wage earners is one of the keys to promoting inclusive growth, and minimum wages are a common if sometimes controversial way of doing it. Of the 34 countries that are members of the Organisation for Economic Co-operation and Development (OECD), 26 have a minimum wage – 9 of which have been introduced since 1990. … Continue reading
Europe – Which reforms should be implemented?
In many parts of Europe, labour market reforms during the last eight years were misguided and backfired. Theory and evidence tell us that: It is always better to have institutions allowing adjustment along several margins, not only employment. When implementing labour market reforms, it is important to take into consideration cyclical conditions. A very tough … Continue reading
Eurozone – Why long-term unemployment is so high
Of the 19m jobless Europeans, more than half have not worked for the last year. And over 15% have not had a job for more than four years. Unsuprisingly, the problem is most severe in southern Europe where a protracted crisis pushed up overall unemployment, and with it long-term joblessness. But in contrast the number … Continue reading
Italy – Youth unemployment reaches 38-year high
Italy’s unemployment rate moved up to 12.7 per cent in June from 12.5 per cent in May, delivering a blow to hopes that the nascent recovery in the eurozone’s third largest economy could bring some relief to its sclerotic labour market. Meanwhile, youth joblessness increased to 44.2 per cent, its highest level since 1977 and … Continue reading
LinkedIn Profile – Some mistakes
1. Present-tense verbs in past-role descriptions You might be great at keeping your resume up-to-date (and, if you aren’t, you can start now). But keeping your LinkedIn profile updated is a whole different story — most of us just slap on another position without taking time to update the others. Unfortunately, few things confuse recruiters … Continue reading
Canada – Is the job recovery the best ? That depends on what you measure
History is clear: The Harper government’s record on job creation is the weakest of Canada’s past nine prime ministers. But is it the best job creation record we could have right now, given how so many nations are struggling with the enduring impact of the 2008 global economic crisis? When it comes to recovery, are … Continue reading
EU – To act on unemployment
Over seven years since the onset of the financial crisis, the unemployment situation in the Eurozone remains a big concern. As of June this year the unemployment rate across the euro area was 11.1%, compared with 5.3% in the United States: Even allowing for the fact that US unemployment has been considerably lower since 2000, the … Continue reading
Resume – Job history as a signal of worker characteristics
Consider two workers who are known to be identical in almost every professionally relevant characteristic, such as education, experience and vocational training. The only relevant characteristic in which they may differ is how well each worker gets along with others and cooperates with directives from supervisors. As an employer, you care about these qualities, but … Continue reading
Seattle’s $15 minimum wage – The negative employment effects
Recall, we’re not insisting that a rise in the minimum wage will reduce the number of jobs in the economy, nor even in a sector of it. We’re saying that once we isolate out only the effect of the minimum wage rise then we will see that there are fewer jobs as a result of … Continue reading
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