Job Market Monitor
Michel Cournoyer
UK / Jobless Claims Unexpectedly Rise
U.K. jobless claims rose at the fastest pace in more than a year and job creation slowed, suggesting the labor market is succumbing to a fragile economic outlook. Jobless-benefit claims increased 10,100 to 1.58 million in October, the most since September last year, the Office for National Statistics said today in London. The median of … Continue reading
Gender Gap / EU / Quota of 40% of women on boards has been approved
The EU has approved the proposals from justice commissioner Viviane Reding to have 40% of women on company boards by 2020. Reding tweeted the news this morning but an official announcement is expected later. They will still need to be approved by the European Parliament and the Council of Ministers, but Reding said she was … Continue reading
Detroit / Teachers’ union will sue district over layoffs
The teachers’ union in Detroit says it plans to file a lawsuit against Detroit Public Schools on Wednesday for the “improper” dismissal of more than 422 teachers at the start of the school year. Detroit Federation of Teachers’ president Keith Johnson will hold a press conference at 10:30 a.m. at the DFT hall to announce … Continue reading
Xerox / Cutting 2,500 Jobs
Xerox officials released more details about restructuring plans Tuesday. At an investor conference in New York City, officials revealed that they expect about 2,500 jobs to be cut on a worldwide basis. No word yet on how many jobs might be affected in the Rochester area. A spokeswoman said the majority of the layoffs will … Continue reading
Canada / TVOntario / 35 To 40 Layoffs
Faced with decreased funding from the Ontario government, public broadcaster TVOntario is eliminating 35 to 40 jobs and cancelling a number of TV shows, including the iconic “Saturday Night at the Movies,” the station announced on Tuesday. At the same time, TVOntario plans to focus more heavily on “digital innovation in children’s educational media and … Continue reading
US / Why Is Labor Force Participation Shrinking?
We noted earlier that the recent drop in labor force participation — the percentage of people 16 or older who are working or looking for work — reflects not only the economic downturn and lack of job opportunities, but also the fact that more baby boomers are hitting retirement age. To measure the effect of … Continue reading
Gender Gap / Men Get the Jobs That Get Them Ahead
When it comes to the hot, high-profile jobs that lead to big promotions, managers overwhelmingly pick men for such plum roles, according to a new study, released Wednesday. Even when they are equally qualified, women are generally given smaller budgets, fewer direct reports and less exposure to the C-suite than their male counterparts, according a … Continue reading
National Irish Bank / 100 jobs go
NATIONAL Irish Bank customers will no longer have access to branches from today when the Danish-owned operation shuts its retail outlets. All 27 branches will shut, with the loss of 100 jobs. Customers will now have to use An Post offices, telephone banking, go online to do their banking or drop into one of the … Continue reading
Atlantic City / Sandy / Layoffs at casinos
Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers and cutting back the hours of others. The city’s 12 casinos had to close due to the storm for five to seven days in late October and early November. Even after they reopened, business slowed considerably. The Atlantic … Continue reading
Japan / Panasonic To Cut 10K More Workers
The Japanese consumer electronics industry continues to feel the squeeze in the economy, with one of the more painful effects being mass layoffs of workers. In the latest development, Panasonic Corp. says that it will reduce its workforce by 10,000 employees by the end of this fiscal year, which completes in March 2013. The company … Continue reading
Europe / Austerity and Layoffs Lead To Workers Strikes
With rampant unemployment spreading misery in southern Europe and companies shutting factories across the continent, workers around the European Union sought to unite in a string of strikes and demonstrations on Wednesday. Most European governments have in recent years had to cut spending, pensions and benefits and raise taxes aggressively to bring public debt under … Continue reading
UK / Harwell / Space Agency / 100 new jobs
UP TO 100 new jobs are set to be created at Harwell thanks to a major investment in a new telecoms satellite monitoring headquarters for the whole of Europe. The European Space Agency (ESA) will set up the centre after Chancellor George Osborne revealed the Government is to step up its investment in space spending … Continue reading
Australia and New Zealand / Partnership for jobs training
New Zealand and Australia are aiming to jointly develop tertiary and vocational education to meet the needs of employers on both sides of the Tasman, New Zealand Tertiary Education, Skills and Employment Minister Steven Joyce said Wednesday. Joyce said he would be the first New Zealand Minister to attend Australia’s Ministerial Standing Council on Tertiary … Continue reading
Australia / Optus and SingTel / 934 Job cut
SingTel’s Australian subsidiary Optus has shed 184 additional roles outside of its original plan of 750. The company revealed in SingTel’s Q2 results today that it had shed 746 roles in the year between September 30, 2011 and September 30, 2012, which the company had forecast earlier this year as part of a major restructure … Continue reading
US / FED / Yellen Says Fed Should Tie Rate Inflation and Employment
Federal Reserve Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date. “The Committee might eliminate the calendar date entirely and replace it with guidance on the economic conditions that would need to prevail before … Continue reading
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