Job Market Monitor
Michel Cournoyer
Eurozone recession to continue into 2013 says Markit
he rate of contraction in the eurozone economy eased slightly in November, according to a closely-watched survey. But the region is still in line for another quarter of recession with further contraction likely in early 2013, according to Markit, who produced the survey. Its Eurozone Composite Purchasing Managers’ Index (PMI), which measures business activity, rose … Continue reading
Canadian Pacific cutting 4,500 jobs and move Calgary headquarters
Calgary-based Canadian Pacific Railway has announced plans to cut 4,500 jobs by 2016. The railway said Tuesday the jobs would include both employee and contractor positions. CP said it expected to eliminate 1,700 positions over the next month. The firm said the cuts would include job reductions, natural attrition and using fewer contractors. The cuts … Continue reading
US / Employment among young people at lowest level since 1950s
Nearly 6.5 million U.S. teens and young adults are neither in school nor in the workforce, veering toward chronic underemployment as adults and failing to gain the skills employers need in the 21st century, according to a new KIDS COUNT® report from the Annie E. Casey Foundation. Many of these young people, ranging from ages … Continue reading
UK / Friends Life to cut a further 150 jobs
Friends Life is making around 150 staff redundant as part of a new round of cost cutting. The provider says it has not yet decided which departments will suffer cuts, adding it will inform staff in due course. As well as the job losses, Friends Life has around 50 job vacancies it will no longer … Continue reading
US / Minimm Wages / DOL sues Puerto Rico banana company
The U.S. Department of Labor has filed a lawsuit against a banana company in Puerto Rico accusing its owners of paying workers less than the minimum wage. The government accuses Bananera Fabre of paying workers $6.25 and $6.50 an hour instead of the required $7.25. The lawsuit states that the owners, Jose Fabre Laboy and … Continue reading
Airports / 19 million jobs were located within 10 miles of major american airports
As our Richard Florida pointed out in a series of posts last spring, airports play a “substantial role” in the economic growth of American cities. Their ability to facilitate the movement of goods and people may influence urban development as much as highways, railroads, and seaports did in previous centuries. They may also rival nearby … Continue reading
US / 100 Small Businesses have created more than 73,000 jobs between 2008 and 2011
Small businesses will put Americans back to work. That’s what Eric Schurenberg, editor-in-chief at Inc. magazine, told us. That’s also why he decided to come up with his own list of the top small businesses that are creating the most jobs right now. “The Inc. 500 list has been around since the early 80’s,” Schurenberg said. “So why … Continue reading
Melbourne / Once known as a ”doughnut city” but jobs shift back from suburbs
MELBOURNE’S CBD is defining the city – it has become the employment giant sucking jobs from the suburbs, transforming property prices and demanding better rail services to the centre of town. Melbourne was once known as a ”doughnut city”, because businesses and activity were retreating from Melbourne’s sleepy core. But now, the city’s changing employment … Continue reading
Unemployment Insurance / Its Importance for American Families and the Economy
Among the many spending cuts and tax increases legislated to take effect at the turn of the year, few policies have as direct an effect on those most affected by the Great Recession than the expiration of extended unemployment insurance (UI) benefits. In the first week of January, roughly two million individuals will lose extended … Continue reading
US / The Real Median Household Income Free Fall
Courtesy of Doug Short, we see from the above that the past decade has seen no gains in real median household incomes. Indeed, the free fall began in earnest in 2008, and now reflects an 8.1% decrease in real buying power. This is for the median household — we know from Fed and IRS data … Continue reading
US / Labor Economics / Is the the Beveridge curve shifthing ?
When trying to determine if high unemployment is being caused by weak demand or by a mismatch between jobs and the skills of job seekers, economists look at the Beveridge Curve. It represents the relationship between the unemployment rate and the job vacancy rate. On a simple chart, vacancies are on the vertical axis and unemployment … Continue reading
US / The recession has not affected all Americans equally
The recession has not affected all Americans equally. While overall unemployment hovers around 8 percent, the reality was much different depending on your racial and ethnic background. African-Americans had an unemployment rate of 14.1 percent, nearly double the rate of whites at 7.2 percent. Hispanics had the second highest unemployment rate at 10.2 percent. And … Continue reading
Spain / Rising unemployment in November
Spain’s queue of job seekers grew to a new record in November, official data showed Tuesday, a grim sign for a nation in the grip of a jobs-killing recession. The number of people registered as unemployed grew by 74,296, or 1.5 percent, to 4.91 million in November from the previous month, the Labour Ministry said … Continue reading
España / Desempleo sube en noviembre por cuarto mes
Por cuarto mes consecutivo, el desempleo en España subió en noviembre en 74 mil 296 personas, hasta situarse en los cuatro millones 907 mil 817, informó hoy aquí el Ministerio de Empleo y Seguridad Social. En un año, desde noviembre de 2011, el número de desocupados en el maltrecho mercado de trabajo español se incrementó … Continue reading
US / More Would Opt for a Business Job Than a Gov’t Job
By 60% to 35%, more U.S. adults would rather work for a business than for government, unchanged from January 2010. Among those currently employed for pay, preferences are similar: 63% would rather work for business and 33% for government. Source: More in U.S. Would Opt for a Business Job Than a Gov’t Job.
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