Job Market Monitor
Michel Cournoyer
45 percent of layoff victims, despite anger, would return to former employer
The study of predominantly highly paid, college-educated professionals who are unemployed finds that 45 percent of layoff victims would return to work for their former employer – despite anger over being terminated. The research also emphasizes the importance of fair and transparent layoff decisions, as the treatment of downsized employees affects layoff survivors, company reputation … Continue reading
Medical device companies cut 2000 jobs in 2 months
Medical device companies are molting at a reptilian rate, shedding more than 2,000 jobs over the past 2 months as they look to slash costs across the board. Several of the med-tech companies that are scrapping jobs say the 2.3% medical device excise… Layoffs: Medical device companies cut 2000 jobs in 2 months http://www.massdevice.com/news/layoffs-medical-device-companies-cut-2000-jobs-2-months
Volvo Cars cuts up to 400 consultant jobs
Volvo Cars announced on Friday it would cut up to 400 temporary consultant positions and has reportedly issued an ultimatum to its Swedish suppliers to slash prices by a fifth before 2015. The loss-making carmaker, which was acquired by Chinese firm … Volvo Cars cuts up to 400 consultant jobs http://finance.ninemsn.com.au/newsbusiness/aap/8533249/volvo-cars-cuts-up-to-400-consultant-jobs
BMO to cut 200 jobs at US unit
Bank of Montreal will cut an additional 200 jobs in its U.S. division as part of the integration of Wisconsin lender Marshall & Illsley, which it bought in 2011 for $4.1 billion, and it warned more cuts are on the way. The … BMO to cut 200 jobs at US unit, more coming http://in.reuters.com/article/2012/09/14/bmo-jobs-idINL1E8KEIQV20120914
US – The Employment Challenge
How can the United States put more people back to work? The simple answer is to generate higher growth than we have seen so far in this recovery — in the final analysis, only higher demand will convince employers to hire. But even if GDP growth were more robust, the United States would still face … Continue reading
Asia – Jobs for Youth
In East Asia, the youth unemployment rate is set to increase from a current 9.2 percent to over 10 percent by 2017 — a historic high in a region that was used to full employment. Only in developed economies is the youth unemployment rate expected to … Jobs for Youth or How Not to Lose … Continue reading
Rich Middle Class – Romney’s ‘Middle Class’ Definition: $250,000 and Less
So how much does a middle class family earn in a year? Well that depends on who ya ask… If you ask Mitt Romney – “GEORGE STEPHANOPOULOS: Is $100,000 middle income? “MITT ROMNEY: No, middle income is $200,000 to $250,000 and less. So number one, don’t reduce– or excuse me, don’t raise taxes on middle-income … Continue reading
Hungary – Cut State Jobs, Freeze Wages Until 2015
Hungary is planning to cut several thousand jobs at state institutions and local councils and seeks to freeze public-sector wages through 2015, Magyar Hirlap said, citing unidentified people in the government. The measures are aimed at narrowing next … Hungary to Cut State Jobs, Freeze Wages Until 2015, Hirlap Says http://www.bloomberg.com/news/2012-09-14/hungary-to-cut-state-jobs-freeze-wages-until-2015-hirlap-says.html
Belgium – Ford fails to allay plant closure worries
Ford has refused to give unions assurances about the future of the U.S. automaker’s Genk plant, deepening concern among workers that the Belgian factory may be next in line for closure. Ford fails to allay Belgian plant closure worries http://www.reuters.com/article/2012/09/14/us-ford-europe-belgium-idUSBRE88D0ON20120914
Working America – An Overview
Daily stock indices, monthly employment reports, and even quarterly data on the gross domestic product are insufficient indicators for answering this vital question: How well is the American economy providing acceptable growth in living standards for most households? EPI’s The State of Working America, 12th Edition looks broadly at available data and concludes that the … Continue reading
American workers’ fears
As workers return to the office routine after their summer vacations this year, they are feeling more secure about the jobs they are returning to, but not feeling so swell about the size of their paychecks, according to a new survey. Just 4% of respondents in a survey by Harris Interactive ranked fear of being … Continue reading
Australia and China Job Markets Sharing Destiny
The last time Australia was mired in recession, Boris Yeltsin had yet to stand on a tank in Moscow, and the Clinton era hadn’t begun. In 1991, Australian trade with China was a modest A$3.6 billion (about the same in U.S. dollars). In the preceding decade unemployment had averaged 7.8 percent, as Australia struggled to … Continue reading
Only 18% of college grads had job offers by the end of April before graduation in 2011
Getting from college to a paycheck is a big worry for young adults; in 2011, only 18% of college grads had job offers by the end of April before graduation, according to the National Association of Colleges and Employers. That’s lending new appeal to a century-old college program long disdained by elite schools as “vocational … Continue reading
Are robots stealing your job?
Robots, we’ve argued, are slowly taking over in the workplace. And there are plenty of anecdotal examples, such as these noodle-slicing beings from China. But sales figures also confirm that more robots are being sold than ever before. A new CLSA report entitled ‘Robot-buying boom’ crunches data provided by the International Federation of Robotics and … Continue reading
Discouraged In Hunt For A Job
The U.S. population is growing. In normal times, the labor force — working or not — would be growing too. But these are not normal times, and the labor force is actually smaller than it was four years ago, meaning millions of people who should be there aren’t. Discouraged U.S. Workers, 2008-2012 The labor market … Continue reading
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