Job Market Monitor
Michel Cournoyer
Canada | Some 40 pc of Canadian university graduates aged 25 to 29 are employed in low-skill jobs
Canada’s skills gap has been brought into increasing focus by the large numbers of unfilled jobs which coexists with high youth unemployment. Last summer, a report commissioned by the Canadian Council of Chief Executives stated that Canada is falling behind in the global skills race. The answer, according to many university presidents, is more money … Continue reading
Credit Suisse | To cut 300 jobs in Switzerland
Credit Suisse will merge its retail and private banking arms in Switzerland from January, in a move which will cost 300 jobs at the Swiss bank and save 50 million Swiss francs ($52.76 million). The restructuring is part of an extra 1 billion Swiss francs in cost cuts announced by Credit Suisse two weeks ago … Continue reading
Meningitis Outbreak | Ameridose LLC to cut 790 jobs
Ameridose LLC, an affiliate of the drug-compounding pharmacy at the center of a deadly fugal meningitis outbreak in the United States, is cutting 650 positions as it grapples with an indefinite closure following regulatory scrutiny of its sterilization practices. According to the Boston Globe, Ameridose employees have been notified of their pending termination from the … Continue reading
Obama’s second term | 3 priorities: Jobs, jobs, jobs
It’s still about jobs. What will determine the core success of President Barack Obama’s second term is progress – or the lack thereof – in reducing long-term unemployment. We know this from exit polls, which ranked the economy as the top issue (selected by about 60 percent of voters) and, more important, from common sense. … Continue reading
Chinese miners in B.C. | Review of foreign worker program
Controversial plans to hire 201 Chinese workers at a proposed mine in northern British Columbia have prompted Ottawa to announce a review of its entire foreign worker program, with the government suggesting the case has revealed deeper problems with a system designed to fill short-term labour shortages. Human Resources Minister Diane Finley issued a statement … Continue reading
US | Wealthy | Would a tax hike cost 700,000 jobs ?
Rep. Pete Sessions, however, went further, and actually claimed hundreds of thousands of people would lose their jobs if Obama’s proposed tax increase went into effect. What’s the math behind his claim? The Facts According to an aide, Sessions obtained his figure from a study prepared last year by two economists at Ernst & Young for … Continue reading
Iberia | IAG to cut 4,500 jobs
International Airlines Group warned on Friday that its Spanish carrier Iberia was ‘‘in a fight for survival’’ and unveiled a restructuring plan to cut 4,500 jobs as it reported a drop in third-quarter profit. Iberia CEO Rafael Sanchez-Lozano said the carrier is losing money in all its markets and was ‘‘burning €1.7 million ($2.17 million) … Continue reading
Job Search | How To Stay Positive
Looking for work can be extremely frustrating – especially in this economic climate. That’s why it’s more important than ever for job seekers to stay positive when looking for work. When your search feels futile and your hard work doesn’t cash in, you need something to help you keep going. But what can you do? … Continue reading
Job Search | Beating the software
Many of the biggest companies in the world are using software to recruit their workforce, so how can you beat the odds in the most competitive job market in history? If you take the time to fill in a job application, you might think someone would at least have the courtesy to actually look at … Continue reading
US | CBO | Unemployment lower in the next few years if the fiscal cliff removed
Substantial changes to tax and spending policies are scheduled to take effect in January 2013, significantly reducing the federal budget deficit. According to CBO’s projections, if all of that fiscal tightening occurs, real (inflation-adjusted) gross domestic product (GDP) will drop by 0.5 percent in 2013 (as measured by the change from the fourth quarter of … Continue reading
Greece | Unemployment hits a new record at 25.4 pc, youth hits 58pc
Greece’s jobless rate rose for a 39th consecutive month to a new record of 25.4 percent in August, more than double the euro zone average, Greece’s statistics service ELSTAT said on Thursday. A crippling, austerity-fuelled recession continued to take its toll on the labor market, putting Greek unemployment at more than double the euro zone … Continue reading
US | Jobless claims | A Drop, But Thx to Sandy
Unemployment Insurance Weekly Claims Report SEASONALLY ADJUSTED DATA In the week ending November 3, the advance figure for seasonally adjusted initial claims was 355,000, a decrease of 8,000 from the previous week’s unrevised figure of 363,000. The 4-week moving average was 370,500, an increase of 3,250 from the previous week’s unrevised average of 367,250. The … Continue reading
From UK To China | Syfer Technology threatens jobs in Norfolk
A high-tech electronics components company in Norfolk is planning to set up a manufacturing base in China, putting 120 jobs at risk. Syfer Technology, of Arminghall, said exports, especially to the Far East, helped it expand and it wanted to be near markets and suppliers. The firm was bought by American company Dover Corporation in … Continue reading
Australia | Qantas cuts 400 maintenance jobs
Australian flag carrier Qantas on Thursday announced the slashing of 400 maintenance jobs as part of a restructure aimed at cutting costs and shifting focus to Asia. Qantas said the cuts would involve 150 staff and 250 contractors, as the “Flying Kangaroo” consolidates its maintenance operations to achieve savings under heavy competition, fuel costs and … Continue reading
Nova Scotia Govn’t | To outsource payroll jobs to IBM
The Nova Scotia government has announced a deal with IBM Canada to contract out administration of its computer information system, angering dozens of information technology workers who were told their jobs will be outsourced. “It doesn’t make you feel good when we’ve been together as a group for over five years,” said Allura McKay, a … Continue reading
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