Job Market Monitor
Michel Cournoyer
China / 8 percent of the 7.58 million graduates students who graduated in 2011 have not yet found jobs
The millions of college students who graduate in China each year now face this hard reality: a college diploma no longer guarantees a good job. According to a Hong Kong economist, there is no easy fix, as structural problems with China’s manufacturing-based economy limit the need for higher education. Educators, analysts, and the state-run press … Continue reading
EU / Jobs Outlook Dismal Finds Gallup
Amid rising unemployment, the jobs outlook across the European Union is deteriorating in 2012. Majorities in all EU countries except Germany and Austria — where unemployment rates are among the lowest in the eurozone — say now is a “bad time” to find a job in the city or area where they live. Pessimism is … Continue reading
UK / Novartis / Jobs may go overseas
Swiss pharmaceuticals giant Novartis has arranged a crisis meeting of scientists, NHS trustees and Government officials starting today in London in a bid to streamline Britain’s “haphazard” approach to medical research and development (R&D). Science Minister David Willetts is due to attend the meeting, thought to be the first to unite representatives of Big Pharma … Continue reading
UK / Over 6m working poors
Millions of workers are facing insecurity, moving in and out of jobs, and poverty, according to a new report. The Joseph Rowntree Foundation (JRF) said over six million people classed as living in poverty, were in households where people worked. Excluding pensioners, in-work poverty now outstrips workless poverty, while 1.4 million people were now working … Continue reading
Almost three in four workers worrying during every weekend
Almost three in four workers lose more than three hours every weekend worrying about work, a survey suggests. A study of 2,000 British adults, conducted by Populus, showed the biggest worriers were aged between 25 and 34 and lost more than four hours a weekend worrying. Employees in London are the most likely across Britain … Continue reading
Indonesia / Govt to challenge Jakarta’s minimum wage
Industry Minister MS Hidayat said on Friday that he supported a plan of top businesspeople to challenge Jakarta Governor Joko “Jokowi” Widodo’s decision to set Jakarta’s 2013 provincial minimum wage at Rp 2.2 million (US$228). “I have been informed by Apindo [Indonesian Employers Association] that it will file a lawsuit with the PTUN [state administrative … Continue reading
UK / Tata Steel to cut 900 jobs
India-based Tata Steel Ltd. Friday announced plans to cut about 900 jobs at its U.K. operations as part of a wider restructuring. “Today’s proposals are part of a strategy to transform ourselves into an ‘all-weather’ steel producer, capable of succeeding in difficult economic conditions,” Karl Koehler, chief executive of Tata Steel’s European operations, said in … Continue reading
South Africa / Possibly above 10,000 and maybe higher mining jobs cut
South Africa’s mining industry is likely to see mass job cuts following violent strikes that drastically reduced production of gold and platinum, the head of the national mining industry body said on Friday. Bheki Sibiya, chief executive of the Chamber of Mines, said he expected thousands of job cuts in the industry, “possibly going above … Continue reading
Moderate minimum wages can do more good than harm writes The Economist
MINIMUM-WAGE laws have a long history and enduring political appeal. New Zealand pioneered the first national pay floor in 1894. America’s federal minimum wage dates from 1938. Most countries now have a statutory pay floor—and the ranks are still swelling. Even Germany, one of the few big countries without, may at last introduce a national … Continue reading
India / Youth Unemployment
India, one of the youngest countries in the world, where youth accounted for 20% of the total population in 2011, according to the Registrar General of India. More importantly, the dependency ratio – the number of children and elderly people per working-age person — declined 21% over the last three decades. In China, the ratio … Continue reading
Canada / Employment Insurance / Slight Decline
Following an increase in August, the number of people receiving regular Employment Insurance (EI) benefits in September declined slightly, by 5,700 (-1.1%), to 525,900. The number of beneficiaries edged down in Quebec, British Columbia and New Brunswick, while it rose slightly in Manitoba. Chart 1 Employment Insurance beneficiaries down slightly in September Choosen excerpts by Job Market Monitor from via … Continue reading
Europe / Punitive tariffs Chinese photovoltaic manufacturers put 30,000 European jobs in danger
In a new study, AFASE has laid out the consequences it expects anti-dumping and anti-subsidy duties on Chinese photovoltaic manufacturers in Europe will have. Expected European-wide is a fall in demand, job losses and price increases. In China, the market leaders boast a capacity of 2 GW or more; in Europe there is no manufacturer … Continue reading
France / Société Générale could outsource 400 jobs
Societe Generale (SOGN.PA), France’s No. 2 listed bank by value, is considering outsourcing 400 back-office jobs at its corporate and investment bank, according to internal memos seen by Reuters. The plan, in which consulting company Accenture (ACN.N) would take on staff working mainly in custody and securities services, could be extended to other businesses, such … Continue reading
Employability And The Economy
Employability is based on a set of individual characteristics. It is not equivalent to employment, but rather a prerequisite for (gainful) employment. It pertains to someone’s relative ability to obtain and maintain gainful employment, as well as make successful transitions from one job to the next, either within the same company or field or to … Continue reading
Bridgestone / More than 500 jobs cut in Europe
Bridgestone announced it will cut almost 500 jobs in Europe due to sluggish tire sales. Most part of the job cuts, 442 from the total of 510, will be made in Spain, where Bridgestone has three plants, while the rest of the jobs will be cut from the company’s plant in Bethune, France. In Europe … Continue reading
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