Job Market Monitor
Michel Cournoyer
US / Younger Generations Lag Parents in Building Wealth
A new study from the Urban Institute finds that Younger Generations up to roughly age 40 have accrued less wealth than their parents did at the same age, even as the average wealth of Americans has doubled over the last quarter-century. Because wealth compounds over long periods of time — a dollar saved 10 years … Continue reading
Greece / Long-term unemployment soars: More than six out of every 10 jobless people have been out of work for over a year
More than six out of every 10 jobless people in Greece have been out of work for over a year, according to Hellenic Statistical Authority (ELSTAT) data published on Thursday. Fourth-quarter figures for 2012 put the unemployment rate at 26 percent, from 24.8 percent in the previous quarter and 20.7 percent a year earlier. The … Continue reading
Algeria / Thousands protest against unemployment
Thousands of protesters have rallied in central Algeria over a lack of jobs and corruption by government officials, local media has reported. Nearly 10,000 people gathered in the central square of the desert town of Ouargla on Thursday, chanting “the people want the downfall of corruption” and anti-government slogans. The demonstrators claim the government is … Continue reading
US / House Republicans Vote Down on Minimum Wage
House Republicans on Friday unanimously voted down a bill that would have raised the minimum wage. Six Democrats joined them in defeating the effort. The vote came after a surprise move by Democrats, who tacked onto a jobs training program bill an amendment that would have brought the national $7.25 minimum wage to $10.10 by … Continue reading
US / Two thirds of minimum wage earners are women says Nancy Pelosi
The statement “More than 64 percent of minimum-wage earners are women.” Nancy Pelosi, U.S. House minority leader, in a news conference The ruling On news of the stock market hitting an all-time high, U.S. House Minority Leader Nancy Pelosi said it’s time to raise the minimum wage. In a news conference on March 7, Pelosi, … Continue reading
South Africa / Massive crowd for 900 cleaning jobs
The plight of the unemployed in the city and around the country was highlighted yesterday when hundreds of job hunters flocked to the City Hall in the hope of landing one of 900 cleaning jobs. Since the beginning of the week, people have been queuing at the office of a private cleaning company in Paul … Continue reading
China / What’s going on in its labor markets
Understanding unemployment and wage growth are crucial for understanding developments in the world’s second largest economy, not to mention the future price of everything from Nike sneakers to Apple iPhones. The official data is improving, with new information on migrant worker and private sector wages. But it remains scarce and in some cases unreliable, especially … Continue reading
Keystone XL / Only Canada would profit says President Obama
President Obama told a group of House Republicans at a closed-door meeting on Wednesday that the long-delayed Keystone XL pipeline won’t profit anyone but Canada. Rep. Lee Terry, R-Neb., told the Associated Press that Obama said the benefits of the project have been overstated because many of the jobs created would be temporary, and much … Continue reading
Taco Bell / 15,000 New Employees Last Year
Taco Bell added 15,000 employees last year, company chief executive Greg Creed told the Daily Beast, largely on one new product. Creed attributes the success to Doritos Locos Tacos, which the company rolled out in March, 2012 and was the “biggest launch in Taco Bell history,” he told the Beast. Throughout 2012, the 170-calorie taco, whose … Continue reading
Canada / Federal budget to target mismatches
Fixing labour shortages and enhancing the skills of workers will be the centrepieces of next week’s federal budget. But the government also recognizes that serious progress on matching skills with job openings will require close co-operation with provincial governments and the private sector. Businesses say labour shortages are also a top concern, and they want … Continue reading
Sweden / Arbetsförmedlingen and the Federation of Business Owners to find ‘hidden jobs’ in SME
Sweden’s Employment Agency (Arbetsförmedlingen) and the Swedish Federation of Business Owners (Företagarna) launched their new collaboration on Thursday in the hope of improving recruitment processes across the country. “The Swedish workforce has changed so that four out of five jobs are now in small businesses. It’s clear that it’s trickier for an institution such as … Continue reading
US / Unemployment Benefits / Temporary programs have significantly expanded the benefits
Benefits provided through the unemployment insurance system—a partnership between the federal government and state governments—tend to fluctuate automatically with the unemployment rate. In addition, in times of high unemployment, federal lawmakers often supplement regular and extended unemployment benefits with temporary programs. Since 2008, during and after the most recent recession, temporary programs have significantly expanded … Continue reading
Global labour markets are worsening again says ILO
In the fifth year after the outbreak of the global financial crisis, global growth has decelerated and unemployment has started to increase again, leaving an accumulated total of some 197 mil- lion people without a job in 2012. Moreover, some 39 million people have dropped out of the labour market as job prospects proved unattainable, … Continue reading
Global Jobs Gap / Productive jobs for the developing world (video)
via Wanted: Productive jobs for the developing world – YouTube.
Nigeria / Poor Public Perception Hurts Vocational Education Minister
Efforts by the federal government to revitalise Technical and Vocational Education Training (TVET) in Nigeria is moving at a slow pace because of poor public perception. Minister of Education Professor Ruqayyatu Ahmed Rufa’i stated this at the launch of the 2012 Education For All Global Monitoring Report with the theme ‘Youth and Skills: Putting Education … Continue reading
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