Job Market Monitor
Michel Cournoyer
California / Prisons / Layoff Warnings to 2,200 Employees
California Correctional Health Care Services has sent layoff warning notices to 2,200 of its employees, the Sacramento Bee’s “The State Worker” reports (Ortiz, “The State Worker,” Sacramento Bee, 12/12). Background About six years ago, U.S. District Judge Thelton Henderson appointed federal receiver J. Clark Kelso to oversee the state’s prison health care system after determining that … Continue reading
Canada / Immigrants / Employment increased 4.3% in 2011 while virtually unchanged among core-aged Canadian born
In 2011, employment among landed immigrants in the core working-age group of 25 to 54 increased 4.3% from the previous year. The majority of the growth occurred among established immigrants who had been in the country for more than 10 years. Over the same period, employment among core-aged Canadian born was virtually unchanged. The employment rate of core-aged immigrants in 2011 was 75.6%, compared with 82.9% for … Continue reading
How to get to the 6.5% unemployment rate target: roughly 270,000 jobs each month
The Federal Reserve predicts it will keep stimulative policies in place until the unemployment rate falls to 6.5%. But just how many jobs will it take to get there? As of November, the unemployment rate was 7.7%. In order to drop to 6.5% immediately, it would require 1.9 million jobs to be created right now. … Continue reading
Career / The Top Five Regrets
Disappointment doesn’t discriminate; no matter what industry the individual operated in, what role they had been given, or whether they were soaring successes or mired in failure, five dominant themes shone through. Importantly, the effects of bad career decisions and disconfirmed expectancies were felt equally across age groups. Here were the group’s top five career … Continue reading
Global gender gap: Two steps forward, one step back says ILO
Women face higher unemployment rates than men globally, with no improvements likely in the coming years, according to an ILO report. The ILO’s Global Employment Trends for Women 2012 looks at the gender gap in unemployment, employment, labour force participation, vulnerability, and segregation in jobs and economic sectors. Globally, the gap in unemployment and employment-to-population … Continue reading
Calgary / SMART Technologies: 225 layoffs
Temporary foreign workers, who were laid off at Smart Technologies in Calgary, could be forced out of the country. SMART Technologies announced on Tuesday that it was laying off up to 25 percent of its staff by March 2013, including Abhishek Dhawan who was hired from India in August to test software for the company. … Continue reading
Nuclear / Babcock and Wilcox Announces Layoffs in Ontario
Babcock & Wilcox has announced plans to lay off 90 workers at its manufacturing plant in Cambridge, Canada. The positions amount to about 30 percent of the Ontario plant’s unionized hourly workforce, the Waterloo Record reported. The layoffs will take effect in January, and a B&W spokeswoman told the newspaper that the company does not … Continue reading
UK / Airbus / 1,500 jobs safeguarded
The company says a $9bn (£5.5bn) order for 100 A320 planes from AirAsia will safeguard 1,500 Airbus jobs in the UK and 7,500 in its supply chain. The wings for its A320 series are made at the Flintshire factory. AirAsias’s order is for 64 of the A320neo (new engine option) and 36 of the A320ceo … Continue reading
Barclays / Could cut up to 2,000 jobs
Antony Jenkins, the bank’s new chief executive, announced in September that some parts of the bank would “shrink” as part of the overhaul, although he has ruled out a break-up of the scandal-hit lender. The job cuts could be announced early next year, the Wall Street Journal reported, and would represent around 10pc of Barclays’ … Continue reading
Fracking and Jobs Debate / Report says it could create 7 000 jobs in NZ while UK gives green light
Venture Taranaki has joined in on the fracking debate, releasing a study that forecasts billions of dollars and thousands of jobs over the next decade if fracking is allowed to continue. The economic development agency and Wellington-based economic analysis company Berl have developed a report on the economic impact of the fracking of onshore oil … Continue reading
US / Unemployment Benefits / Claims Decline to a Nine-Week Low
Applications for jobless benefits fell by 29,000 to 343,000 in the week ended Dec. 8, the fewest since reaching a four-year low in the period ended Oct. 6, Labor Department figures showed today. Economists forecast 369,000 claims, according to the Bloomberg survey median. The number of people on unemployment benefit rolls declined for a fourth … Continue reading
Talent War / Porsche to Cut Working Hours but Maintain Pay
Sportscar maker Porsche, a unit of Volkswagen AG (IW 1000/10), on Thursday said it will gradually trim working hours without any cuts in pay, in an effort to attract highly skilled workers. “Porsche is looking to improve competitiveness and attractiveness as an employer even further,” the automaker said in a statement. Porsche’s executive board and … Continue reading
Avon / To cut 1,500 jobs
Avon Products said it will cut about 1,500 jobs and exit two Asian markets — South Korea and Vietnam — as the struggling beauty products starts toward its cost-cutting goal. The job cuts amount to almost four per cent of its workforce and marked one of the first major moves by CEO Sheri McCoy, who … Continue reading
Flexiblility / Anxious workers and declining living standards
As the Bank of England’s chief economist Spencer Dale put it in a speech on Wednesday, shortly after the jobs figures were published, “the harsh but inescapable reality,” is that, “households and families in our economy are worse off. Much worse off.” He highlights the “extraordinary flexibility” of wages. Once adjusted for inflation, pay is … Continue reading
FED / Targeting unemployment and inflation
The Federal Reserve announced Wednesday that it will take unprecedented steps to bolster the economy, saying it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. It was a historic … Continue reading
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