Job Market Monitor
Michel Cournoyer
UK Defence / BAE safeguards 6,000 jobs with Oman military jet deal
BAE Systems has secured a boost for British manufacturing and safeguarded 6,000 jobs after agreeing a £2.5bn contract with Oman for Typhoon and Hawk military aircraft. Britain’s largest defence contractor and manufacturing employer is targeting growth markets such as the Middle East as part of a strategic imperative that has become even more urgent in … Continue reading
Scotland / Statoil to create 700 jobs in North Sea development
Statoil is to invest £4.3bn in a North Sea oil field, bringing hundreds of jobs to the north east of Scotland. The Norwegian company said the investment in the Mariner field was the largest new offshore development in the UK in more than a decade. Statoil expects to start production from Mariner in 2017, pending … Continue reading
Unemployment Extension / Nothing on the table after Republicans pulled Plan B
With 9 days left before extended unemployment benefits expire, there is no new from Washington on an extension. Last night, the Republicans pulled Plan B which did not included reauthorization of federal extended unemployment and there is no other legislation current pending. If an agreement that includes the restoration of federal unemployment benefits isn’t reached, extended … Continue reading
Europe / Brain Drain / Germany pulling away the best and the brightest workers
More than three years into an economic crisis that has threatened to tear Europe apart, one country is still on a hiring spree, and it is pulling away the best and the brightest workers from its neighbors along the way. Thousands of professionals from recession-struck Spain and Greece have been streaming into Germany, where joblessness … Continue reading
India / IT Skills Gap / Only 5% techies are job-ready for cloud computing
While cloud computing is widely recognised as the next big opportunity to watch out for, it has already made significant inroads in the industry. However, the IT workforce may not keep pace with the developments. The industry ready workforce for new domains like cloud and mobility may be as less as 5.7% of the current … Continue reading
American Chinese immigrants / Affluent and educated elites choosing for a better education for their children
Americans may complain about the quality of their schools, but for the most recent wave of Chinese immigrants, it’s the No. 1 draw. According to the 2012 Annual Report of Chinese International Migration published this Monday, China is undergoing a mass migration of its citizens overseas, with the United States being far and away the … Continue reading
Canada / The New Suitable Job Regulation: 8 000 will have benefits temporarily discontinued
It is expected that EI regular claimants will increase their job search effort, which will result in them finding suitable employment and returning to work more quickly in regions where there are suitable employment opportunities. In turn, their time on claim will be shortened. Enhanced compliance measures to ensure claimants are fulfilling their responsibility to … Continue reading
Government can create only government jobs
During the election campaign the need for jobs got attention, but neither candidate took the trouble to explain how, exactly, jobs are created. Contrary to what politicians claim, jobs start not with government but investors. In the wake of election rhetoric, the realities of investment need restating. Investors are people in a position to invest … Continue reading
Older Workers / Strong decision-making skills study finds
While employers often tend to shy away from hiring older workers, they might want to reconsider if they’re looking for someone with strong decision-making skills, a new study finds. Research by the MetLife Mature Market Institute and the Center for BrainHealth at The University of Texas at Dallas revealed that older decision makers were more … Continue reading
Ireland / unemployment rate would be 20% without emigration says IMF
The IMF (International Monetary Fund) in its latest quarterly review of Ireland’s economy and prospects, says that “had all employees who lost their jobs since the outset of the crisis remained in the labour force,” instead of choosing emigration, the unemployment rate would stand at around 20%. The Fund seems to have little confidence in … Continue reading
US / About 29 M employed in offshorable production and services occupations
“Offshoring, also known as offshore outsourcing, is the term that came into use more than a decade ago to describe a practice among companies located in the United States of contracting with businesses beyond U.S. borders to perform services that would otherwise have been provided by in-house employees in white-collar occupations (e.g., computer programmers and … Continue reading
Sandy / Nearly 30,000 Jobs Lost says NYLD
Hurricane Sandy wiped out nearly 30,000 jobs in and around New York City last month, the New York State Labor Department said on Thursday. The impact of the storm on small businesses and larger companies whose offices could not reopen for weeks afterward left New York City and the state with fewer jobs in November … Continue reading
US / Sticking to the job longer
Americans who are lucky enough to have jobs are hanging on to them longer. A new analysis of Census Bureau data shows that median job tenure in 2012 was the highest since at least the early 1980s. The Employment Benefit Research Institute said on Dec. 19 that the median time on the job for American … Continue reading
US / Unemployment Benefits / An increase of 17,000 Claims after a Decline to a Nine-Week Low
SEASONALLY ADJUSTED DATA In the week ending December 15, the advance figure for seasonally adjusted initial claims was 361,000, an increase of 17,000 from the previous week’s revised figure of 344,000. The 4-week moving average was 367,750, a decrease of 13,750 from the previous week’s unrevised average of 381,500. The advance seasonally adjusted insured unemployment … Continue reading
Hong Kong / More Financial jobs than New York or London by 2016
CEBR, the London-based economics consultancy, recently forecast Hong Kong will have more financial services jobs than New York or London by 2016, with some 262,000 positions. The Institute of Chartered Accountants in England and Wales (ICAEW) also gives its endorsement, saying Hong Kong will be the world’s premier financial job center by 2017, with 275,000 … Continue reading
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