Job Market Monitor
Michel Cournoyer
US – Unemployment Rate in August – New Gallup data suggest an increase
New Gallup unemployment data suggest an increase in the government’s seasonally adjusted unemployment rate for August when it is reported on Friday, Sept. 7. During recent months, Gallup’s measurements have been more optimistic than those of the BLS. Barring a sharp reversal in this relationship, the government’s unadjusted unemployment rate might be expected to stay the same or … Continue reading
US – Unemployment rate rises in 44 states
Close to 90 percent of states saw their unemployment rates rise in July, a potentially worrisome development for President Obama’s reelection campaign. The Labor Department reported Friday that 44 states in all saw their jobless rate go up, with four states seeing no change at all. Only Idaho and Rhode Island — along with Washington, … Continue reading
US – Teacher Layoffs – A White House Report
The White House has released a new report that finds that the loss of teachers and other education staff is forcing communities into difficult choices that harm our children’s education and future, including increasing class sizes and shortening school years and days. The report shows that more than 300,000 local education jobs have been lost … Continue reading
UK – Executive pays at £3m average
While many struggle to keep afloat during the recession, Britain’s top chief executives are enjoying an average £3million salary. FTSE 100 bosses have seen their salary soar by 8.5 per cent in 2011 – whereas the national pay average rose by just 1.6 per cent, barely half the rate of inflation. The brutal economic climate … Continue reading
US – The increase in postsecondary enrollment was especially high
“The rising cost of college education and high unemployment levels among recent college graduates are raising the question “Is college worth its cost?” in the minds of many Americans. A recent study published by the Associated Press found that one out of every two recent college graduates is jobless or underemployed, suggesting maybe college isn’t worth the money. Yet, job losses in the … Continue reading
Europe – The downturn has been under way for years
The euro zone is hurtling back into recession, economists declared after official figures this week portrayed a shrinking economy. But by some measures the downturn has been under way for years. With the exception of Germany, none of Europe’s biggest economies have returned to the level of economic output they had at the beginning of … Continue reading
Sharp – Thousands more layoffs
Sharp Electronics may cut thousands more jobs even after it executes its present plan to cut five thousand jobs. Sharp hopes the cuts will improve its balance sheet. Sharp is even considering the sale of it its building in Tokyo and land owned in western Japan. A report in the Mainichi Shimbun claims that the … Continue reading
Lack of skilled iraqi employees preventing oil industry progress
In a country where the unemployment rate has caused mass demonstrations, one local economist believes that Iraq lacks thousands of skilled workers for the oil industry – and that this is preventing progress in the all-important oil industry. It is the lack of skilled local labour in Iraq’s oil and gas industries that is preventing … Continue reading
Don’t Stay Home – Long-Term Jobless Regroup to Fight the Odds
The analysts pore over the numbers every month, the full menagerie of economic indicators. President Obama and Mitt Romney trade barbs over who is at fault for a sluggish recovery. But here, in a region with one of the highest unemployment rates in the country, other numbers often loom larger. There are the roughly … Continue reading
Australia – Mines may turn to less-skilled workers
THE Department of Treasury has been told mining companies may be forced to use less experienced staff to proceed on a significant pipeline of construction in the sector. In its quarterly economic roundup, Treasury says the mining industry is facing challenges recruiting and contracting workers, particularly for highly-specialised technical positions. “With a significant pipeline of … Continue reading
Outsourcing in India – US plans to stop it
The Obama Administration has announced setting up of an institute for manufacturing innovations which will help prevent jobs going to India and China. “This institute will help make sure that manufacturing jobs of tomorrow take root not in places like China or India, but right here in the United States of America,” US President Barack … Continue reading
India – Infosys pays less than in US for the same job
The trial in the alleged visa fraud case against software services major Infosys in the US has been postponed by almost a month to September 17. The trial related to visa fraud allegations levelled by Infosys’ former employee Jack Palmer was scheduled to start on August 20 in the US court. According to sources, it … Continue reading
Wisconsin – Total job growth was just 1.1 percent because of government job losses
Another report also released Thursday by Walker’s Department of Workforce Development showed the state lost 6,000 private sector jobs in July and the unemployment rate increased from 7 percent to 7.3 percent. The divergent reports are derived from different surveys covering different periods of time. The quarterly report, covering January through March, is based on … Continue reading
German economic strength: Fewer hours, not particularly productive and less time at school
Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time at school than most of its neighbours. Hardly a recipe for economic success, you might think. But the country described above is none other than Germany, Europe’s industrial powerhouse and the … Continue reading
Where the Skills Gap Really Resides: a huge mismatch at the middle-skill level
It is those people who have not earned the minimum of a two-year degree that Scaglione says constitute a large population of our country who are stuck in low-skilled jobs that do not require any higher education. Low-skilled jobs that do not require a minimum of a two-year degree represent about 35 percent of all … Continue reading
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