Job Market Monitor
Michel Cournoyer
UK / Youth unemployment and the growing failure of education
Unemployment is up by 0.2 per cent to 7.9 per cent. Long term unemployment is on the rise. Youth unemployment is up again, this time by 20,000. Any semblance of a jobs recovery is only visible in low wage sectors feeding into a clear wage squeeze, with the slowest growth in earnings since 2009. A … Continue reading
US / Can something be done to get Good Jobs ?
Economists are of many minds on the question of whether government policies can reverse negative trends. David Autor, an economist at M.I.T., argued in an email to The Times that “we’re not going to rapidly reverse the tide with any conceivable policy that a mainstream political party or even a mainstream economist would adopt.” Autor … Continue reading
UK / Underemployment missed in headline figures
Headline figures miss important groups, such as the part-time workers who want to go full-time but can’t, or the freelancers and self-employed who are barely attracting enough work or customers to get by. Neither of these groups are out of work; but nor are they fully employed. And while they are included in some totting … Continue reading
California / Saving Unemployment Insurance
A rescue effort is underway for the state’s financially troubled unemployment insurance program, an economic lifeline that currently provides weekly monetary support for 525,000 jobless Californians. More than $10 billion in the red, the unemployment insurance fund has been spiraling toward bankruptcy in recent years, even as it continues to provide weekly jobless benefits of … Continue reading
Netherlands / Unemployment tops 8%
The official Dutch unemployment figure reached a new high of 8.1% in March, according to the latest figures from the national statistics office CBS. In total, 643,000 people are without a job, an average increase of 24,000 a month since the start of the year. The sharpest rise was among people aged 25 to 45, … Continue reading
US / ‘Price stability’ remains the policy advice even in the face of serious labor market inefficiencies says St. Louis Fed’s Bullard
Federal Reserve Bank of St. Louis President James Bullard gave remarks Wednesday on “Some Unpleasant Implications for Unemployment Targeters” at the 22nd Annual Hyman P. Minsky Conference. During his presentation, Bullard noted that the U.S. unemployment rate remains high by historical standards and that it has declined about 0.7 percentage points per year from its … Continue reading
Job Search Tools and Internet / 8 New Ways To Do
The internet continues to yield new tools, job search strategies, and factors to consider. Here’s the latest crop: Employers will Google you. If there’s something you’ve posted that you don’t want prospective employers to see, take it down. If someone else has written something unfairly negative about you, see if you can get them to … Continue reading
UK / 450 public sector jobs ‘lost daily’
Almost 450 jobs have been lost from councils and police forces across the UK every day since the coalition came to power, according to a new report. Unison said its study, published ahead of the latest unemployment figures, showed that the Government should do more to ease the jobs “crisis.” General secretary Dave Prentis said: … Continue reading
Vietnam / Mekong delta short of skilled workers
Vietnam’s tourism experts say a lack of skilled workers will hinder tourism development in the Mekong River delta and cause the region to lag behind other areas of the country. Ministry of Culture, Sports and Tourism’s southern office acting director, Le Van Hung, told local media that the delta was one of the country’s most … Continue reading
BC / The auto sector needs skilled labour
The Automobile Retailers Association and its industry partners have conducted a study to identify future labour needs of the sector. The research project took an industry “pulse check” to compare future labour demand with anticipated supply to see how they will align. The project identified a future gap in all employment areas in the automotive … Continue reading
Europe / Sabic to Cut 1,050 Jobs
Saudi Basic Industries Corp., (SABIC) the world’s biggest petrochemicals maker, plans to cut about 1,050 positions and close some assets in Europe as the company responds to diminished demand. Saudi Basic Industries, also known as Sabic, has started talks with works councils and trade unions on the plan, it said in a statement today. The … Continue reading
US / Jobless claims broadly in line with monthly job gains of more than 150,000
The number of Americans filing new claims for unemployment benefits rose slightly last week, allaying fears of a major setback in the labor market recovery. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 352,000 the Labor Department said on Thursday. The prior week’s number was revised to show 2,000 more applications … Continue reading
Ghana / Job opportunities for 600 youth
The training programme is in collaboration between the Council for Technical and Vocational Education and Training (COTVET) and KNUST Jewellery Design and Technology Centre (KJDTC). The training programme, which is scheduled to last for two years, has attracted a sponsorship package of US$1million from the World Bank, DANIDA, JICA, GTZ, and the African Development Bank. … Continue reading
Canada / About one in five full-time workers aged 25 to 54 volunteered five or more hours per month in 2010
In 2010, about one in five full-time workers aged 25 to 54 (or 2,036,000 persons) volunteered five or more hours per month on a regular basis. In comparison, about one third of part-time workers and nearly one quarter of those who were unemployed volunteered with the same frequency. Among full-time workers with flexible work conditions, that is, those who can choose their … Continue reading
Canada / Number on Employment Insurance (EI) benefits was virtually unchanged
Following three consecutive months of decline, the number of people receiving regular Employment Insurance (EI) benefits was virtually unchanged in February, at 528,900. Compared with a year earlier, the number of beneficiaries was down 7.4%. A number of provinces had fewer beneficiaries in February, with the largest percentage decreases in Prince Edward Island, Manitoba and Saskatchewan. British … Continue reading
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