Job Market Monitor
Michel Cournoyer
Latin American youth / Trapped by unemployment and informality says ILO
Latin America’s jobs-creating economic growth has not been strong enough in recent years to improve the employment outlook for young people trapped by unemployment and informality, the ILO said. “We are faced with a political challenge that calls for a determination to apply innovative and effective policies to confront labour market precariousness,” said Elizabeth Tinoco, … Continue reading
Greece / Unemployment rises to 28 pct in November
Unemployment registered a new record in Greece in November as the jobless rate climbed to 28 percent from 27.7 percent in October and 26.3 percent in November 2012, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT). The figures showed that the number of unemployed grew by almost 1 million (991,000) in … Continue reading
Airlines Workers / Iberia to slash pilots salaries by at least 14% as Alitalia avoids 1,900 layoffs
Spanish flag carrier Iberia said Wednesday it had reached a deal with its pilots to slash their salaries by at least 14 percent, part of its bid to return to profit. Iberia’s roughly 1,400 pilots will see their salaries reduced by 14 percent, and possibly by another 4.0 percent depending on the airline’s profitability, under … Continue reading
Quirky interview questions / A bad hiring practice hitting female candidates
Such hiring practices also disadvantage women. They hurt the employer by limiting the talent pool. They fortify the male dominated frat-boy culture that Silicon Valley is increasingly being criticized for. Telle Whitney, CEO of Anita Borg Institute, which is working on getting more women to study computer science and have more women fully engaged in … Continue reading
US Unemployment Insurance Weekly Claims Report / An increase of 8,000 from last week
SEASONALLY ADJUSTED DATA In the week ending February 8, the advance figure for seasonally adjusted initial claims was 339,000, an increase of 8,000 from the previous week’s unrevised figure of 331,000. The 4-week moving average was 336,750, an increase of 3,500 from the previous week’s revised average of 333,250. The advance seasonally adjusted insured unemployment … Continue reading
Labor markets improved overall across the advanced economies finds The Conference Board International Labor Comparisons
Labor markets improved overall across the advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons program for December 2013. The unemployment rate in December fell in three of the nine countries compared, was unchanged in four, and rose in two. The U.S. and Japan … Continue reading
Canada / Oil and natural gas industry supports budget training measures
Canada’s oil and natural gas industry supports federal budget measures announced yesterday to foster growth and development of Canada’s future skilled trades workforce, the Canadian Association of Petroleum Producers said today. “Our industry is the largest employer of skilled trades workers in Canada so we strongly support government measures to promote careers in this sector,” … Continue reading
Canada / More than one third of workers have dated a co-worker finds CareerBuilder.ca Survey
Looking for a Valentine? The office might be a good place to start, according to a new CareerBuilder.ca survey. CareerBuilder’s annual survey on office romance found more than one-third (35 percent) of Canadian workers have dated someone who worked for the same company, and 15 percent say they have done so more than once. The … Continue reading
Canada / Increases in immigration level bring immigrants real wages down
The annual level of immigration is one of the most critical components of a country’s immigration policy. It is difficult to directly compare the costs and benefits of changing immigration levels because immigration can serve multiple goals. However, some narrowly-defined effects can be empirically assessed. This study considers solely the potential influence of immigration levels … Continue reading
US / Long-term unemployment has less impact on the behavior of wages study says
How tight is the labor market? The unemployment rate is down substantially from its October 2009 peak, but two-thirds of the decline is due to people dropping out of the labor force. In addition, an unusually large share of the unemployed has been out of work for twenty-seven weeks or more—the long-duration unemployed. These statistics … Continue reading
Australia / Unemployment worst in a decade
Australia’s unemployment rate in January jumped to 6.0 per cent – its worst in a decade – with the economy shedding 3,700 jobs amid a turbulent transition away from mining, data showed on Thursday. The Australian Bureau of Statistics said the jobless rate increased from 5.8 per cent in December, with some 7,100 full-time positions … Continue reading
US Monetary Policy / The recovery in the labor market is far from complete says Yellen
Just because the unemployment rate is falling rapidly, don’t think for a minute that the economy is close to a full recovery. That’s the message Janet Yellen delivered in her first appearance on Capitol Hill since she took the reins of the Federal Reserve. Follow along with MarketWatch’s live blog of Janet Yellen’s testimony. Speaking … Continue reading
Job Search / The longer a person is unemployed, the less it matters which method is used
Each month, every unemployed CPS respondent answers the question “What have you been doing in the last four weeks to find work?” The survey allows respondents to indicate one or more methods from a list of seven or, after 1994, 13. The methods are broadly categorized as either “active” or “passive.” An active job search … Continue reading
Unemployment in UK / Monetary policy forward guidance overhaul
The overhaul of forward guidance sees the direct link with employment dropped so the Bank can focus on a much wider range of indicators. Presenting today’s Inflation Report the governor outlined “the next phase” of forward guidance, saying the Bank aims to see all spare capacity in the UK economy absorbed before it will lift … Continue reading
Canada Job Grant / Provinces react to budget measures
New budget measures aimed at delivering the government’s controversial Canada Job Grant program have upset some provinces in the middle of already fragile negotiations with Employment Minister Jason Kenney. “We were offered a take it or leave it Canada Job Grant program,” P.E.I.’s Finance Minister Wes Sheridan said in a written statement Tuesday evening… The Quebec … Continue reading
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