Job Market Monitor
Michel Cournoyer
China / Gender gap widening
The income gap between men and women in China is growing partly because of gender inequality, particularly in the job market, according to a survey. In 2010, urban women’s income was 67.3 percent that of men’s and rural women’s income was 56 percent that of their male counterparts, the survey found. The ratios were 77.5 … Continue reading
Germany / The preferred immigration destination for highly skilled Hungarians
The migration bug at present biting disgruntled skilled workers in every European country has long been a feature in Hungary, with numerous highly skilled younger Hungarians leaving for Germany over the last 16 years. However, the rate at which talented young workers are leaving their home country has accelerated since 2007, with emigrant numbers up … Continue reading
Indiana / Iron company to create 100 jobs
An iron-recycling company is investing hundreds of millions to build a new plant in White County, creating 100 new jobs and bringing even greener industry to Indiana. Magnetation, LLC, which recycles iron waste to produce valuable iron ore concentrate, announced plans Tuesday to invest up to $350 million to build a new iron-ore pellet plant … Continue reading
Costa Rica / Immigration decreased by 7.5 percent in the last decade
Immigration to Costa Rica decreased significantly in the last decade, dropping from 7.5 percent growth in the period from 1984-2000 to just 2.4 percent in the last decade, according to a recent study by local and international organizations. The study was presented last week by immigration and public security officials, and found that Nicaraguan and … Continue reading
Europe / Rethinking Education strategy
The youth unemployment rate is close to 23% across the European Union – yet at the same time there are more than 2 million vacancies that cannot be filled. Europe needs a radical rethink on how education and training systems can deliver the skills needed by the labour market. The challenge could not be tougher … Continue reading
Denmark / Saxo Bank to cut 266 jobs (17,5% of workforce)
Denmark’s Saxo Bank is to cut its workforce by 17.5 percent because of reduced trading activity, a source close to the company told Reuters. A total of 266 of the bank’s 1,513 employees will lose their jobs,” the source said. The bank declined to comment until after it had released a statement later on Tuesday. … Continue reading
Russia / 1.3 million on minimum wage
Over a million Russians get a monthly wage of $148, most of them from the public sector, well below the $220 poverty line. 650,000 Russians out of 1.3 million living on the minimum wage work in the public sector, according to the country’s Public Health and Social Development Ministry. The minimum wage is the lowest … Continue reading
UK / Derby City Council cuts another 350 jobs
A further 350 jobs are to go at Derby City Council, taking the total number of cuts to 1,000 in three years. The cuts have been announced as council bosses said the authority needed to reduce its budget by £63m by 2015. City council leader Paul Bayliss said it was also looking at other ways … Continue reading
Italy / 20,000 jobs threatened at ILVA plant
Workers stormed Europe’s biggest steel plant ILVA, which faces closure over allegations of an environmental disaster, as Italy’s government raced to save 20,000 threatened jobs. Management closed the factory’s cold rolling facility, which produces finished steel plates, strips and pipes, after a Monday court ruling to seize the plant’s steel output, which the company said … Continue reading
US / Domestic workers barely make minimum wage
Nannies, caregivers and housecleaners earn a median wage of about $10 an hour, and few receive benefits like health insurance or paid sick days, according to the first-ever national statistical study of domestic workers, which is being released Tuesday. The study, based on interviews with 2,086 workers in 14 major metropolitan areas, found substantial differences … Continue reading
US / For each dollar of federal highway grants received by a state, that state’s GSP rises by at least two dollars
Federal highway grants to states appear to boost economic activity in the short and medium term. The short-term effects appear to be due largely to increases in aggregate demand. Medium-term effects apparently reflect the increased productive capacity brought by improved roads. Overall, each dollar of federal highway grants received by a state raises that state’s … Continue reading
Greece / Agreement reached between euro zone finance ministers and the International Monetary Fund to reduce debt
The Greek government and financial markets were cheered on Tuesday by an agreement between euro zone finance ministers and the International Monetary Fund to reduce Greece’s debt, paving the way for the release of urgently needed aid loans. The deal, clinched at the third attempt after weeks of wrangling, removes the biggest risk of a … Continue reading
Canada / Defense / CFB Borden cuts 120 jobs
Sixty per cent of the cleaning staff at Canadian Forces Base (CFB) Borden will lose their jobs Dec. 31, the Public Service Alliance of Canada says. Wednesday morning, PSAC will host a news conference to discuss the cut, which will impact 120 people who work for contractor Koprash Inc. “This news is devastating. Yet, these … Continue reading
UK / Older workers / Propelling the rise in self-employment
Older workers have propelled the increase in self-employment that has helped to hold down the jobless rate since the economic crisis began, a Financial Times analysis shows. The proportion of workers who are self-employed has climbed to a record 14 per cent over the past four years – helping to keep a lid on unemployment … Continue reading
US / FED / Dallas Fed President, Richard Fisher, says Fed might set a target for unemployment
Dallas Fed President Richard Fisher, a top Federal Reserve official, said on Tuesday that his main concern now was unemployment, not inflation. He said another option the Fed might consider to signal its aims to markets was a target for unemployment, although this would be difficult because monetary policy alone was not responsible for creating jobs. … Continue reading
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