Job Market Monitor
Michel Cournoyer
Book – Sabotage: How the Republican Party Crippled America’s Economic Recovery
by Daniel Altman. Excerpt: When Americans go to the polls this November, they’ll be looking for some payback. The Great Recession supposedly ended in June 2009, but what followed was hardly the kind of bounce that usually put the economy back on its feet. Rather, in the following two years the economy produced about two … Continue reading
Brazil – GM postpones layoffs decision until Nov
General Motors Co and a Brazilian union have agreed to postpone until November a politically sensitive decision to eliminate as many as 1,840 jobs at a factory near São Paulo. The decision, following tense talks and heated reminders by Brazil’s government that current tax cuts enjoyed by the carmaker go hand in hand with a … Continue reading
Australia – Jobs ads fall 0.8 per cent in July
Job advertising fell 0.8 per cent in July, after a drop of 1.1 per cent in June, the ANZ job advertisements survey showed on Monday. The data places advertisements 9.1 per cent weaker than a year ago. The weakness is most noticeable in newspaper advertisements, which fell 3.2 per cent compared with June, while internet … Continue reading
South Korea – Layoffs across brokerage houses
South Korean brokerage houses are slashing workforces as Europe’s debt crisis and the global economic slowdown bite into their profitability and their trading activities, sources said Monday. The total number of employees at 63 local brokerage firms reached 42,388 at end-March this year, down 0.7 percent from three months earlier, according to the data from … Continue reading
New Zealand – KiwiRail – 181 layoffs over three years
KiwiRail will slash 181 jobs over the next three years as it cuts back its infrastructure and engineering arms. Staff will be told this week which jobs will go, and KiwiRail is seeking expressions of interest for voluntary redundancy, chief executive Jim Quinn said in a statement on Monday… via NZ KiwiRail to axe 181 staff … Continue reading
China – Half of this year’s record high 6.8 million new college graduates are still struggling to find jobs
Hang Peng, Beijing, said, “This bachelor degree certificate used to be a magic key for Chinese grads to a high-paid job. But now, for many of them here, its really little more than permission to rent a bed in a job-seekers’ dormitory. This is a three-room apartment. But it’s been transformed into a crowded dorm … Continue reading
US Job Market Nearly ‘In Recession’
US Job Market Nearly ‘In Recession’ “…Some economists and analysts now wonder if the BLS seasonal adjustments are somehow off a bit. If the financial crisis and recession mucked with the seasonal ebb and flow of the economy, then the adjustments that BLS makes for its monthly reports might be a bit skewed. Some jobs … Continue reading
At the July 163 000 jobs rythm, it would take up to 2025 to recover
What the NYT Says With 163,000 new jobs created, July’s employment growth topped both analysts’ expectations and the meager job gains in May and June. While that growth was not enough to reduce the jobless rate – now 8.3 percent – it was enough to boost the stock market. For investors, the job tally was … Continue reading
UK – Watford – New Tom Cruise blockbuster ‘to create 500 jobs’
The filming of a new Tom Cruise blockbuster at a studio near Watford will create 500 jobs, Chancellor George Osborne said as he appealed to technology businesses to invest in the UK. Science fiction thriller All You Need Is Kill, which also stars English actor Emily Blunt, is to be made at Warner Brothers’ £100 … Continue reading
Illinois – Walgreen to expand – 500 jobs
Gov. Pat Quinn says Walgreen Co. plans to expand its operations in Illinois and create 500 jobs over the next three years. In announcing the expansion Friday, Quinn and Walgreen said the agreement is part of the “Invest Illinois Initiative.” Under the terms of the deal, Walgreen will also be eligible for tax credits tied … Continue reading
Unilever – Owensboro – 140 jobs affected by sale
Nearly 140 jobs at a major Owensboro food processor could be affected by the company’s decision to sell one of its product lines. Unilever North America operates a 515-employee plant on Owensboro’s east side that produces Ragu spaghetti sauce as well as frozen meals and appetizers under the names Bertolli and P.F. Chang. The frozen … Continue reading
South Africa – Gold Fields – Formal talks with union on layoffs
Gold Fields, the world’s fourth largest gold producer, has begun formal talks with its workers and union about possible labour reductions at its South Deep Joint Venture. The miner said on Thursday that about 2,384 underground workers were served Section 189 notice, South African labour law that governs retrenchment of employees. Gold Fields has been … Continue reading
Tampa International Airport – Layoffs coming for 474 at PEMCO World Air Services
The bay area is about to get hit with one of the single-largest layoffs in the state this year: PEMCO World Air Services is planning to fire 474 workers at its aircraft maintenance complex at Tampa International Airport. PEMCO is the largest airplane maintenance and repair company headquartered at Tampa International. But the company said … Continue reading
Little Rock – LM Windpower to lay off 234 workers
LM Windpower says it will lay off more than half of its workers at the company’s Little Rock plant, which manufactures windmill blades. The Denmark-based company blamed a drop in demand for the layoffs, saying it’s been hurt by the upcoming expiration of a federal tax credit for renewable energy. The company tells the Arkansas … Continue reading
Brazil – Layoffs by IPI Tax Auto Makers Recipients Not Tolerated
Auto makers in Brazil that benefited from a cut in what is known as the IPI tax can’t reduce employment while the tax cuts are in effect, Brazil’s Finance Ministry reiterated Friday. Some interpreted the statement as a direct message to General Motors Co. (GM), which is considering shutting down production at one of its … Continue reading
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