Job Market Monitor
Michel Cournoyer
Sweden – Unemployment rate increases of 0.6 percentage points at 7.2 percent
In August 2012 the number of employed persons aged 15-74 years amounted to 4 738 000. The number of unemployed persons amounted to 366 000, corresponding to an unemployment rate of 7.2 percent, an increase of 0.6 percentage points. On average the number of hours worked was 125.1 million per week. Seasonally adjusted data shows … Continue reading
UK – Slowdown in public sector job cuts
Number of civil servants declined by 5,000 in quarter, and number of health workers is higher than three years ago Government plans to cut the public sector payroll appear to be faltering, as official figures revealed a sharp slowdown in job cuts across Whitehall and local government over the summer. The number of civil servants … Continue reading
But between 1971 and 2008, all the income growth went to the top 10%,
Between 1921 and 2008, the top 10% and the bottom 90% shared income gains equally. The split was 50-50 exactly, according to a new fun interactive graphic built by the Economic Policy Institute with data from economist Emmanuel Saez. But between 1971 and 2008, real income declined for the bottom 90%. All the growth went … Continue reading
US household income falls as gap between rich and poor widens
State and local governments have run out of funds from the 2009 stimulus package that helped balance their budgets and are now having to cut jobs, said Sheldon Danziger, director of the University of Michigan’s Gerald R. Ford School of Public Policy’s http://business.financialpost.com/2012/09/12/u-s-household-income-falls-as-gap-between-rich-and-poor-widens/
Low-Skilled Immigrant Workers Are Vital Contributors To The Economy
The Republican National Committee reformed its immigration platform this month to favor a new guest worker program. Unfortunately, the party still seems unwilling to accept permanent low-skilled immigrants. These workers are critical to America’s … http://www.forbes.com/sites/realspin/2012/09/12/low-skilled-immigrant-workers-are-vital-contributors-to-the-economy/
Medicare Cuts Would Cost 500,000 Jobs
Nearly 500,000 jobs will be lost next year alone if a 2% automatic cut in Medicare spending mandated following last year’s debt ceiling crisis takes effect, three major healthcare organizations charge. In 2013, more than 496,000 jobs will … http://www.medpagetoday.com/PublicHealthPolicy/WorkForce/34724
Cut Hours Not Jobs – Chief Executive of the Derbyshire and Nottinghamshire Chamber of Commerce
Commenting on the employment figures for August 2012 published by the Office for National Statistics today, George Cowcher, Chief Executive of the Derbyshire and Nottinghamshire Chamber of Commerce (DNCC), said: “The overall unemployment total for the region and the Claimant Count for both the City and the County remain at similar levels to the last … Continue reading
Disappearance of U.S. manufacturing jobs
In January 2012, there were more unemployed Americans (12.8 million) compared to Americans working in manufacturing jobs (under 12 million). China, the primary culprit, subsidizes its industries, manipulates its currency and has no minimum wages. . http://www.journalstandard.com/opinions/letters_to_the_editor/x2107492802/J-S-Letter-Disappearance-of-U-S-manufacturing-jobs
India – Sibal pitches for vocational studies
Sibal pitches for vocational studies HRD Minister Kapil Sibal on Wednesday emphasized on the necessity of implementing vocational education from ClassIX, saying the gross enrollment ratio, which is currently at 12 per cent, should touch the 30 per cent mark by 2020. “Even then, the … http://www.indianexpress.com/news/sibal-pitches-for-vocational-studies/1001941/
Nokia Siemens to cut 400 jobs in Finland
Nokia Siemens Networks says it has started talks with employees to cut 400 jobs in Finland as part of global plans to streamline operations. The wireless network group … http://www.ipolitics.ca/2012/09/12/nokia-siemens-to-cut-400-jobs-in-finland/
Deutsche Bank Layoffs and Bonus Cuts Could Trigger Brain Drain
Deutsche Bank has announced layoffs and bonus cuts to senior staffs, designed to save €4.5bn (£3.6bn) a year as part of its strategy to revamp businesses and to make the bank more competent. The German bank will also extend payment of deferred bonuses to 150 of its top bosses to five years, and set up … Continue reading
Twenty three million Americans are unable to find jobs or are underemployed.
23 million! So why, then, has Barack Obama and his goofy administration made it a priority to delay deportation of illegal aliens AND issue work permits to the invaders? http://www.canadafreepress.com/index.php/article/49485
US poverty rate at 15 per cent in 2011; record numbers of poor persist
US poverty rate at 15 per cent in 2011; record numbers of poor persist The report comes less than two months before the November presidential election, where the still-weak U.S. economy is the top issue for voters deciding between the leading candidates, President Barack Obama and Republican Mitt Romney. Experts had … http://www.winnipegfreepress.com/world/us-poverty-rate-at-15-per-cent-in-2011-record-numbers-of-poor-persist-169483156.html
GM’s Opel -1,000 German admin jobs cut
General Motors’ (GM.N) ailing Opel business in Europe plans to thin its administrative ranks by 30 percent, or 1,000 jobs, in its Ruesselsheim headquarters in Germany, newspaper Frankfurter Allgemeine Zeitung reported on Wednesday citing two unnamed board members. The cuts would be made voluntarily, without resorting to compulsory layoffs, the paper added. Opel said in … Continue reading
More Jobs, Smaller Paychecks
More Jobs, Smaller Paychecks These figures, from a Census Bureau report released this morning, aren’t surprising. But they are a reminder of the fact that, while high unemployment remains a big problem for the U.S. labor market, it’s not the only problem. There’s also a long-term… http://www.npr.org/blogs/money/2012/09/12/161003786/more-americans-are-working-but-theyre-earning-less
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