Job Market Monitor
Michel Cournoyer
Federal Reserve – FOMC statement – The Economy has gone from “expanding moderately” to “decelerated somewhat”
Information received since the Federal Open Market Committee met in June suggests that economic activity decelerated somewhat over the first half of this year. Growth in employment has been slow in recent months, and the unemployment rate remains elevated… The Committee expects economic growth to remain moderate over coming quarters and then to pick up … Continue reading
US – Management of the Financial Crisis has given weakest recovery of any in the world since 1970
The Obama administration says one reason the U.S. economic recovery has been so slow is that it is still suffering from the aftermath of the financial crisis. But the U.S. is not the first country to suffer a recession and a financial crisis. And the U.S. recovery is doing worse than all of them. In … Continue reading
US – Unemployment rates lower in 328 of the 372 metropolitan areas
Unemployment rates were lower in June than a year earlier in 328 of the 372 metropolitan areas, higher in 32 areas, and unchanged in 12 areas, the U.S. Bureau of Labor Statistics reported today. Eight areas recorded jobless rates of at least 15.0 percent, while 17 areas registered rates of less than 5.0 percent. Two … Continue reading
US – Occupation Unemployment
Back in 2000, just 3% of electricians in the United States were unemployed. By the end of the decade, 19% of electricians were out of work — a huge increase that reflected the lasting turmoil wrought by the recession. Although unemployment among electricians improved to 12.9% in 2011, other occupations haven’t fared so well. The … Continue reading
Graduate – It was not the life I planned, but it was the life I feared
It was not the life I planned, but it was the life I feared. Graduating college with loads of debt and job prospects that were no better than what I could have gotten straight out of high school. I rarely thought of these things during my university years which ran from the mid to … Continue reading
The Talent War – Is Alberta losing ?
As Lorraine Mitchelmore rushed from a speaking engagement out into a hot June afternoon, the president and country chair of Shell Canada Ltd. paused to consider Alberta’s never-ending shortfall of skilled workers. “There’s a decade of projects that we’ve got in front of us,” she said, standing in the lobby of Calgary’s Delta Hotel on … Continue reading
Skills gap – Session Explores Solutions to Auto Industry’s Skilled Worker Shortage
In an industry that now employs 22 percent fewer workers than it did just five years ago, automotive employers are finding they must search extensively to fill job openings. The market for skilled workers and the global competition for talent will be the focus of “Surviving the Skills Shortage: Hiring Strategies and Solutions” at the … Continue reading
Germany – Skills Gap – Visa Rules for Skilled Workers Relaxed
Starting tomorrow, many foreign investors and their foreign employees will have an easier time obtaining a residence permit in Germany. Two key changes have been made to streamline the visa process for these groups. The EU Blue Card will be introduced tomorrow. Also, capital and job creation requirements have been eased for investors looking to … Continue reading
India – B-schools must focus on building relevant industry skills as part of curriculum
Q: The Indian MBA education is going through a crisis where many B-schools are facing challenges on admission and placement. What are your observations on the state of MBA environment in the country? A by T K Srirang: The Indian economy is poised for a long period of high growth and offers diverse opportunities. This … Continue reading
Singapore – Deputy Prime Minister Tharman Shanmugaratnam: Creating enough quality jobs is the key challenge ahead
Both developed and emerging economies face a serious future challenge of generating a large quantity of jobs as well as ensuring that these are of quality, says Deputy Prime Minister Tharman Shanmugaratnam. “If you connect the dots, across the advanced world and for much of the developing world, you have to conclude that the key … Continue reading
Philadelphia Orchestra Exites Bankruptcy
The orchestra stunned the arts community when it became the first major U.S. orchestra to file for Chapter 11 bankruptcy protection in April 2011. Under the reorganization plan, the 111-year-old symphony will shrink from 105 musicians to 95 and cut their pay by about 15 percent. The orchestra also got a break on its rent … Continue reading
Improved Job Search Options Needed
With so many Americans willing and able to work, it should be simple for recruiters, human resource professionals and hiring managers to find qualified talent to fill job openings. But companies are increasingly complaining that they simply can’t find workers with the right skills to fill their job vacancies, especially when it comes to our … Continue reading
Labor-market failures will not be demand-side but structural, not amenable to any straightforward and easily implemented cure
J. Bradford DeLong At first, the long-term unemployed in the Great Depression searched eagerly and diligently for alternative sources of work. But, after six months or so passed without successful reemployment, they tended to become discouraged and distraught. After 12 months of continuous unemployment, the typical unemployed worker still searched for a job, but in … Continue reading
Africa: The Era of Unemployment
The latest African Economic Outlook paints a promising picture for the continent, but crucially, it also warns that the scourge of youth unemployment will impact severely on the capacity of African states. The latest African Economic Outlook (AEO) has been released, and it’s optimistic. A joint project of the African Development Bank (AfDB), the OECD … Continue reading
Nigeria – Youth unemployment – Can Okonjo-Iweala hoodwink us ? Writes Bayo Olupohunda
Is the high rate of joblessness among Nigerian youth population a consequence of the global unemployment crisis or an upshoot of a mismanaged economy and wrong approach to employment creation initiatives? Did the recession-hit global economy have a ricochet effect on the growing statistics of the unemployed in Nigeria? The minister of Finance and co-ordinating … Continue reading
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