Job Market Monitor
Michel Cournoyer
India / Employability / The AMCAT – Aspiring Minds Computer Adaptive Testing
An oft-repeated grouse by the industry that only 25 per cent of the graduates are employable continues to be a niggling worry for institutions. Realising that it is essential to effectively measure the employability level of students to show the institutions where they stood to take remedial measures or improve, Aspiring Minds, an employability measurement … Continue reading
UK / Axa to Cut 450 Jobs
Axa SA (CS), Europe’s second-largest insurer, plans to cut 450 jobs in the U.K. as it stops providing financial advice following a change in regulation. Axa will stop advising customers in branches of Co- Operative Bank Plc and National Australia Bank Ltd.’s Clydesdale and Yorkshire banks, it said in a statement on its website yesterday. … Continue reading
UK / Minimum wage does not keep up with the cost of living
The National Minimum Wage Act 1998 was one of the flagship policies of Tony Blair’s newly elected Labour government. From April 1999, every worker over the age of 22 was legally entitled to at least £3.60 an hour. In 2010, it began to apply to employees aged 21 and over. For the first nine years … Continue reading
Unemployment benefits should encourage geographic mobility
Americans have always been willing to move to look for better economic opportunities, and this willingness to relocate is a big factor in U.S. prosperity. Yet while everyone is free to move to look for a better life, not everyone takes advantage of the opportunity to the same degree. Some overdue changes in unemployment insurance … Continue reading
Vietnam / Reversing the Brain Drain
Two factors draw in great talent into countries: really great projects that react to specific problems, and an environment that can allow smart individuals to tackle those problems. With 90 million people and still developing, Vietnam’s got the first factor in the bag, but unfortunately, the environment has been lacking. Many overseas Vietnamese and educated … Continue reading
Canada / Job vacancy rate down at 1,4%
In January, there were 200,000 job vacancies among Canadian businesses, a decrease of 22,000 from January 2012. There were 6.5 unemployed people for every job vacancy, compared with 6.1 one year earlier. The national job vacancy rate was 1.4% in January, down from 1.6% 12 months earlier. Chosen excerpts by Job Market Monitor via The Daily — Job vacancies, three-month average ending in January 2013.
The employment situation continues to deteriorate says OECD
Global economic activity is picking up, but the continuing crisis in the euro area is delaying a meaningful recovery, the OECD said in its latest Interim Economic Assessment. The Assessment, presented in Paris by Chief Economist Pier Carlo Padoan, says that the G7 economies are expected to grow at an annualised 2.4 per cent rate … Continue reading
Germany / Vodafone to cut 500 jobs
Vodafone will cut 500 jobs in Germany, the company said, as the group adjusts to harsher competition and lower fees in Europe’s largest economy. “We have started a two-year program,” a spokesman said, confirming reports in the Frankfurter Allgemeine Zeitung and Rheinische Post. The company aims to shift some operations to Romania and India, as … Continue reading
Greece / More civil servants to be retrenched
GREECE cleared an important hurdle in its drive to receive its next batch of bailout loans after international debt inspectors said yesterday that they had reached an agreement over the country’s economic reforms, including the firing of thousands of civil servants. The review by delegates from the International Monetary Fund (IMF), European Commission and European … Continue reading
India / Minimum wages increase
The Delhi Government has decided to implement the revised rates of minimum wages for unskilled, semi-skilled and skilled categories in all scheduled employments, Labour Minister A.K. Walia said on Monday. The new rates, which have been worked out after adjustment of dearness allowances, have come into effect from April 1, 2013 and will extend to … Continue reading
Germany / Gender Gap / Legally binding quotas would be imposed
The German Chancellor Angela Merkel’s party, the Christian Democrats (CDU), will adopt a manifesto commitment to impose a 30pc female quota on the boards of listed firms, from 2020. The Bundestag is due to vote on Thursday on an opposition-backed proposal for quotas, which had provoked a deep split in the centre-right governing coalition. Women … Continue reading
The global economic recovery remains stuck below takeoff speed finds Brookings
The global economic recovery remains stuck below takeoff speed, unable to achieve liftoff and facing the risk of stalling. Half-hearted fiscal austerity measures are proving to be a drag on growth, and monetary policy continues to shoulder the burden of limiting downside risks. The Brookings-FT TIGER index shows that growth momentum remains weak in nearly … Continue reading
Canada / Employment-Insurance: The Thought of the Day
Unemployment insurance is meant to meet the labour market cyclical economic needs, the needs related to job search, the in-between. It is not supposed to be the mean to support income of the ‘chronically’ or repeatedly unemployed in an economically depressed area. Employment development cannot be achieved with income support. Michel Cournoyer Job Market Monitor‘s … Continue reading
PVH / To cut 900-1000 jobs (Calvin Klein and Tommy Hilfiger brands)
Clothing-maker PVH Corp (PVH.N) estimates that it will cut between 900 and 1000 jobs and close a number of facilities related to its acquisition of the Warnaco Group Inc. The company, which owns and markets Calvin Klein and Tommy Hilfiger brands, said it did not yet have an estimate of the charges it would incur … Continue reading
Middle Class Expands In Developing World
“The meek shall inherit the earth” — that seems to be the latest message from the United Nations Development Program. Their 2013 Human Development Report chronicles the recent, rapid expansion of the middle class in the developing world. It also predicts that over the next two decades growth in the so-called “Global South” will dramatically … Continue reading
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