Job Market Monitor
Michel Cournoyer
US / Toyota / Retirement incentives offered to 2,000 employees
Toyota Motor Corp (7203.T) said on Friday it is offering retirement incentives to about 2,000 U.S. workers, or 10 percent of its employees in the country, in an effort to manage attrition of its aging work force. About 1,600 workers at the Japanese automaker’s Georgetown, Kentucky plant, or about a quarter of the work force … Continue reading
US Public Pension Funding / Aggregate underfunding of $0.895 trillion
The Milliman Public Pension Funding Study independently measures the aggregate funded status of the 100 largest U.S. public pension plans using basic actuarial principles and reported plan liabilities and assets. The aggregate accrued liability information provided has been determined on a uniform basis with respect to the interest rate assumption across all of the plans … Continue reading
North Dakota / More jobs than workers
Home improvement retailer Menard Inc. says it will hire workers from its home base in Wisconsin and fly them to North Dakota to staff a store in Minot, which is near the state’s booming oil patch and has more jobs than takers. The company said in a statement that it plans to hire 50 workers … Continue reading
Hiring in US / GSI Commerce, UPS and Amazon struggling to fill jobs to ship holiday orders.
Hundreds of holiday jobs are there for the taking around here — and employers are having trouble finding people to fill them. Major distribution companies like GSI Commerce and UPS are struggling to fill jobs to ship holiday orders. UPS still had 200 openings paying $8.50 per hour on four shifts this week, three months … Continue reading
Nigeria / Youths Shut Down Indomie Factory demanding for the industry to extend employment opportunities
For those who eat Indomie a lot, in case you find the product scarce any time from now, do not be surprised. Information filtering in has revealed that youths from five communities in Chikun local government areas have shutdown and sealed off Africa’s largest indomie factory located in Kaduna South. The factory was sealed today … Continue reading
Germany / Unemployment rises for an 8th month and adjusted jobless rate held at 6.9
German unemployment climbed for an eighth straight month in November as Europe’s debt crisis curbed company investment and economic growth. The number of people without a job increased a seasonally adjusted 5,000 to 2.94 million, the Federal Labor Agency in Nuremberg said today. Economists forecast a gain of 16,000, the median of 37 estimates in … Continue reading
US / Birth Rate Falls to a Record Low, Worse Among Immigrants
The U.S. birth rate dipped in 2011 to the lowest ever recorded, led by a plunge in births to immigrant women since the onset of the Great Recession. The overall U.S. birth rate, which is the annual number of births per 1,000 women in the prime childbearing ages of 15 to 44, declined 8% from … Continue reading
Canada / Royal Bank to hire at least 700 in Québec
The Royal Bank of Canada (RBC) plans to hire at least 700 new employees in its various activities in Quebec next year. -*- Forte de bons résultats malgré la morosité économique, la Banque Royale entend poursuivre ses investissements en personnel et en succursales au Québec afin, dit-elle, d’y renforcer ses parts de marché et d’améliorer … Continue reading
Australia / Vocational Education / 25 TAFE campuses will be closed
At least 25 TAFE campuses will be closed in Queensland and more could follow under reforms to the vocational education and training sector. Education Minister John Paul Langbroek has accepted 37 out of 40 recommendations in a taskforce report handed down earlier this month, while the other three have received in-principle support. One of the … Continue reading
Manchester / Up to 900 more jobs to go
Manchester City Council has confirmed up to 900 jobs could be cut as the authority tries to make savings of about £80m over the next two years. The city has seen its budget cut by almost £170m since its government funding was reduced last year. Two-thousand posts have already been lost through budget cuts. The … Continue reading
Barclays / 3,500 jobs could be cut
Barclays could ax as many as 3,500 investment bank staff and cut its advisory or equities operations in Asia as part of a broader strategic review aimed at fixing the bank’s culture in the wake of the financial crisis. The future shape and size of the investment bank is seen as the most critical part … Continue reading
Europe / Unemployment continues to rise, reaching 11.7%, and 55,9% of youth in Spain
The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in October 2012, up from 11.6% in September. The EU27 unemployment rate was 10.7% in October 2012, up from 10.6% in September. In both zones, rates have risen markedly compared with October 2011, when they were 10.4% and 9.9% respectively. Eurostat estimates that 25.913 million men and women in the … Continue reading
Siemens / To Cut 4,700 More at Osram
Siemens AG (SIE) announced plans to eliminate an additional 4,700 jobs at its Osram lighting subsidiary to reap 1 billion euros ($1.3 billion) in cost savings as the market for traditional light bulbs shrinks. The job cuts, which are focused primarily outside Germany, come on top of 1,900 positions that Osram already reduced in fiscal … Continue reading
Texas Instruments / Notification of workers has begun
Texas Instruments yesterday began notifying employees about layoffs that were announced two weeks ago as the company exits the wireless mobile market, according to a letter the company sent to the Texas Workforce Commission. The Dallas-based chipmaker plans to cut 1,700 jobs, or about 5 percent of its workforce, over the next year. That includes … Continue reading
Pakistan / Promotion of technical education stressed to secure the future of youth
Participants at a dialogue stressed the need for promotion of Technical and Vocational Education Training (TVET) to secure the future of youth and enable Pakistan to take advantage of its growing youth population. This was the crux of a day-long session entitled ‘Dialogue on Skill Development’ political priority for developing the future generation, jointly organized … Continue reading
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