Job Market Monitor
Michel Cournoyer
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
US – Back to early 20th century wealth concentration levels at the very top finds research
Income inequality has increased sharply since the 1980s yet surveys show modest increase in wealth concentration One possible explanation: rising inequality is a pure labor income phenomenon – Rise in top incomes due to top wage earners/entrepreneurs only – The working rich may not have had enough time to accumulate – Or they may have … Continue reading
Asian Fragile Middle Class – 2.8bn people on the brink
Muljoko, a 27-year-old cleaner who works in one of Jakarta’s gleaming office towers, has all the trappings of a newly minted member of the middle class. He owns a motorcycle, slings a Sony smartphone and has a futuristic-looking phone-watch strapped to his wrist that he uses to text friends during working hours. He is infinitely … Continue reading
Self-employment in UK – More than two in five new jobs created since mid-2010 have finds Trades Union Congress
Self-employment accounts for 44 per cent of the net rise in employment since mid- 2010, with pensioners, part-time workers and ‘odd-jobbers’ the fastest growing groups of Britain’s new self-employed workforce, the TUC says today (Monday) ahead of the latest employment figures published later this week. The TUC analysis shows that despite self-employment being a relatively … Continue reading
Graduate starting salaries in UK – Dropped by 11%, from £24,293 to £21,701 in real terms between 2007 and 2012
The starting salaries for graduate jobs has declined as the economic downturn bites. The average starting salary for graduates in professional employment dropped by 11%, from £24,293 to £21,701 in real terms between 2007 and 2012. Only two subject areas – Materials Technology, and Librarianship & Information Management – showed an increase in starting salaries, … Continue reading
UK – 26,000 Public service job could be cut union warns
With the impending release of the commission of audit and federal budget, job cuts in the public service could total more than 26,000 over the next three years, according to the public servants’ union. Job cuts to the public service are expected to be recommended in the Commission of Audit, and possibly announced in the … Continue reading
McDonald’s in Canada – The federal investigation use of temporary foreign workers has widened
The federal investigation into McDonald’s use of temporary foreign workers has widened to several other locations, as more local workers speak out about feeling sidelined and shortchanged. “I feel it’s definitely discrimination against Canadians,” said Chris Eldridge, from Lethbridge, Alta. Eldridge just quit his managerial job for six McDonald’s locations in Alberta, because he said … Continue reading
US – Only 19 percent of lower-income individuals individuals aged 50-58 participated in a pension of any kind at their current jobs
In 2010, only 19 percent of individuals ages 50-58 whose household incomes were less than 300 percent of the poverty line participated in a pension of any kind at their current jobs, compared to 56 percent of those above 300 percent of poverty. This paper investigates this pension gap. In particular, we decompose the pension … Continue reading
Amazon – Unhappy workers: Take $5,000 and go
Quitters wanted: Unhappy with your job? Feeling unproductive? Take $5,000 and go. At least, that’s what Amazon.com Inc. is offering its warehouse employees. In a letter to shareholders this week, Chief Executive Jeffrey Bezos outlined the details of a rare human resources strategy the online retail giant has launched. Dubbed Pay to Quit, the program … Continue reading
US – How organized workers fueled america’s broadly shared prosperity
The middle class is the great engine of the American economy. Organized workers built a powerful middle class by taking direct action and advocating for government policies to give workers a fair share of economic wealth. But over the past 40 years, this pattern has been reversed as corporate owners and managers have taken an … Continue reading
Banks in Europe – 80,000 jobs cut in 2013 finds Reuters
Europe’s 30 largest banks by market value cut staff by 80,000 in 2013, calculations by Reuters based on their year-end statements showed. Recruitment consultants warn workers’ hopes for a turnaround this year could be misplaced, bad news for countries like Spain where tens of thousands of bank layoffs have helped drive unemployment to 26 percent. … Continue reading
US Labor Market in Crisis – Two Charts
he enormous number of people who work only part-time for economic reasons is one the tragedies of the unemployment crisis in this country. It didn’t even start with the financial crisis. Before the 2001 recession, there were a little above 3 million of them. By September 2003, as the economy recovered, there were 4.84 million. … Continue reading
Occupations in US – The 10 largest occupations accounted for 21 percent of total employment
Retail salespersons and cashiers were the occupations with the largest employment in May 2013, the U.S. Bureau of Labor Statistics reported today. These two occupations combined made up nearly 6 percent of total U.S. employment, with employment levels of 4.5 million and 3.3 million, respectively. The data in this release are from the Occupational Employment … Continue reading
Parenting and “secure attachment” – 40% of children would miss it out says a report
Four in ten babies don’t develop the strong emotional bonds – what psychologists call “secure attachment” – with their parents that are crucial to success later in life. Disadvantaged children are more likely to face educational and behavioural problems when they grow older as a result, new Sutton Trust research finds today. The review of … Continue reading
US – Liberal arts field can and does lead to successful and remunerative careers in a wide array of professions says a report
In How Liberal Arts and Sciences Majors Fare in Employment, authors Debra Humphreys and Patrick Kelly analyze data from the 2010-11 US Census Bureau’s American Community Survey and provide answers to some common questions posed by students, parents, and policy makers who are increasingly concerned about the value of college degrees. Responding to concerns about … Continue reading
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