Job Market Monitor
Michel Cournoyer
Europe / Danone to cut 900 jobs
French food and drink company Danone has said it will cut 900 jobs after weakness in southern European economies hit sales. The owner of Activia yogurt and Evian bottled water reported sales of 20.1bn euros ($26.8bn; £17.3bn) in 2012, up 5.4% from a year earlier. But sales in Europe fell 3% following a “severe deterioration” … Continue reading
China / Services employment has climbed for four years
Seven years ago, Cheng Shuangping quit her assembly job at an electronics company in central China to move to Beijing to work as a waitress and a clothing saleswoman before managing a foot-massage spa. “The assembly work was boring and the pay was meager,” Cheng, 34, said in an interview at Oriental Foot Massage near … Continue reading
The Minimum Wage when Employers Have Market Power
Job Market Monitor: The so-called neo-classical model assumes full employment. Workers, and minimum wage workers in that model can change job at will because there are plenty of them. Employers compete one another for rare workers… In the real world of involuntary unemployment, that is not the case of course. And the impact on minimum … Continue reading
Age Discrimination in Startups
On Sunday, Scott Kirsner’s Boston Globe column raised the issue of age discrimination and startups, collecting a laundry list of reasons why many young, innovative companies are subtly (or not so subtly) biased against older workers. He concludes: Ten years ago, if there was a bias evident in the Boston start-up scene, it tilted toward companies run … Continue reading
US / Social Media: The Demographics
A late 2012 survey by the Pew Research Center’s Internet & American Life Project shows that young adults are more likely than others to use major social media. At the same time, other groups are interested in different sites and services. Internet users under 50 are particularly likely to use a social networking site of … Continue reading
US / 5 myths about manufacturing jobs
In his State of the Union address Tuesday, President Obama said that creating manufacturing jobs is the nation’s “first priority.” To some, this may sound like a throwback to a long-lost era; after all, such jobs are being eliminated, outsourced or automated, right? Not really. The United States remains a world leader in manufacturing, and … Continue reading
After the Great Recession: The Challenge
Joshua Meltzer, David Steven and Claire Langley in The United States After the Great Recession: The Challenge of Sustainable Growth (Brookings Institution) write: “Never before has our nation enjoyed, at once, so much prosperity and social progress with so little internal crisis and so few external threats,” President Clinton argued in January 2000 in his final State … Continue reading
Women Wage / The Fight That Brought the Minimum Wage
For a fourteen-year period in American history, minimum-wage laws were officially verboten in every last state of the union, having been declared unconstitutional by the Supreme Court on April 9, 1923. The case, Adkins v. Children’s Hospital, concerned a Washington D.C. law that established a minimum wage for women and children employed within the city. … Continue reading
New Jersey / Minimum Wage Bill Vetoed
As widely anticipated, on Monday, January 28, New Jersey Governor Chris Christie vetoed a bill that would have increased the state’s minimum wage to $8.50 an hour, with future increases tied to the Consumer Price Index (“CPI”). In vetoing the bill, Governor Christie instead proposed a phased-in $1 increase which he feels will better protect … Continue reading
Dublin / Facebook to open up 100 jobs
Facebook is bringing 100 new positions to Ireland as part of its ongoing expansion in Europe. Irish Broadcaster RTE says that this will add to Facebook’s team of 400 people in the country. The new positions are already showing up on Facebook’s recruitment pages. Positions range from corporate communications, developer relations, systems, user operations, sales … Continue reading
US / Raising That Minimum Wage: Surprisingly a good policy says Krugman
The president’s call for a rise in the minimum wage from $7.25 an hour to $9, with subsequent increases in line with inflation. The question we need to ask is: Would this be good policy? And the answer, perhaps surprisingly, is a clear yes. Why “surprisingly”? Well, Economics 101 tells us to be very cautious … Continue reading
LinkedIn / Revamped Jobs tool
LinkedIn has some good news for job seekers. It is making it easier to find and get jobs using the online professional networking service. According to the LinkedIn blog, over the next few weeks the company will begin rolling out the revamped Jobs tool, which will start showcasing open positions at companies where you have … Continue reading
Emirates / One in three companies now hiring
One in three companies across the Emirates is now in hiring mode, according to a top recruitment website, as the economy shows further signs of recovery. Some 35 per cent of UAE firms said they were “definitely hiring” staff over the next three months, research published yesterday from Bayt.com and YouGov showed. That compares with … Continue reading
Barclays / To cut 3,700 jobs
Scandal-hit banking giant Barclays has said it was axing at least 3,700 jobs under a strategic overhaul, but revealed it was paying £ 1.85 billion sterling in bonuses to staff, RTE Ireland reported on 12 February. Chief executive Antony Jenkins is shutting the bank’s controversial Structured Capital Markets tax advisory division. He said 1,800 jobs … Continue reading
US / Job creation is harder
Something’s changed in how the economy works. One theory is “deleveraging”: Americans paying down their high debt. The economy won’t accelerate until this process is complete, the argument goes; the fact that debt-service ratios have dropped to early 1990s levels is considered a good omen. Another approach is to examine the economy by sectors and … Continue reading
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