Job Market Monitor
Michel Cournoyer
The Great Recession other side of the coin: 170,000 small businesses gone in two years
The nation lost more than 170,000 small businesses during the first two years of the recession, according to an On Numbers analysis of newly released federal data. A total of 6.79 million small businesses operated within the nation’s 938 metropolitan and micropolitan areas in 2010, the latest year for which official statistics are available. That … Continue reading
France – Hollande to host Miliband on youth unemployment
Labour leader Ed Miliband will become the first senior British politician to visit French president François Hollande at the Élysée Palace on Tuesday, when tackling youth unemployment will top the agenda. Hollande made his first presidential visit to the UK earlier this month, meeting David Cameron for talks following his election victory in May … Continue reading
4 Big Banks to Begin New Layoffs
Here are big banks that are or could be planning big layoffs. Bank of America (NYSE:BAC): On Wednesday, BofA announced its intention to cut costs by $3 billion annually in its investment-banking, commercial-banking and wealth-management units. These cuts will happen by 2015. Goldman Sachs (NYSE:GS): The mega bank also announced Wednesday its plans to cut … Continue reading
Illinois child welfare agency starts layoffs: 375 jobs plus 250 administrative positions
Hurt by deep budget cuts, Illinois’ child welfare agency began a round of layoffs Friday that will cut hundreds of jobs and “greatly reduce” its efforts to prevent neglect and abuse. The Department of Children and Family Services must find ways to absorb nearly $86 billion in budget cuts, a reduction of 6.8 percent. Spokesman … Continue reading
Pennsylvania – Coal companies – Layoffs blame on Obama administration
Pointing their fingers in part at regulations the Obama administration has imposed on their industry, two coal companies announced layoffs Friday. Pennsylvania’s PBS Coals Inc. and the affiliated RoxCoal Inc. announced that they would idle some of their deep and surface mines, laying off 225 employees in the process. “Both the foreign and domestic coal markets … Continue reading
Bain Capital – Layoffs – A ‘Demoralizing’ Culture
When Dade Behring started cutting employees under Bain Capital’s management in the late ’90s, Cindy Hewitt was on the front lines. As a human resources manager for the Dade East plant in Miami, Hewitt had to decide which employees had needed skills and whose jobs were expendable. News of the latest layoffs trickled down to … Continue reading
Maruti Suzuki – Manesar factory – No idea when riot-hit factory will reopen
Maruti Suzuki(MRTI.NS) has no idea when the Manesar factory hit by a deadly riot this week will reopen, the carmaker’s chairman acknowledged on Saturday, saying it was impossible to import extra vehicles or shift lost production to another plant. India’s biggest car company stopped production at a factory in Manesar on Wednesday after a manager … Continue reading
An additional 200 Layoffs in Nassau County
An additional 200 Nassau County workers will be losing their jobs following an announcement by Nassau County Executive Ed Mangano Monday morning. Reacting to a report from County Comptroller George Maragos which stated that the county ended fiscal 2011 with a $45 million projected deficit, Mangano announced that as part of his latest plan to … Continue reading
UK – IBM confirms dozens of layoffs
IBM is to lay off dozens of workers in the UK, the company has confirmed. The confirmation followed a story in The Register, which suggested that up to 100 employees in IBM’s Strategic Outsourcing Delivery unit could be made redundant. “Change is constant in our industry and transformation is a permanent feature of our business … Continue reading
Russia – Unemployment Varies Widely Nationwide
The unemployment rate across Russia differs greatly, by four times among the districts and up to 49 times among individual regions, the State Statistics Agency said in a report on June employment, Interfax reported Friday. The lowest unemployment rate was registered in the Central Federal District at 3.2 percent in June. The highest was posted for the North Caucasus Federal District at 13.2 percent. The unemployment rate in the Northwest Federal District … Continue reading
Tom Allon – Candidate for Mayor of New York City – Declaring War on Unemployment
There is an enemy lurking in our midst and we need to squarely and definitively defeat it: joblessness. Our country’s ills are largely due to the ever-widening economic problems that are touching almost every family in America. If you or a family member are not unemployed or underemployed, you surely know someone close to you … Continue reading
US Unemployment: On the Supernatural Rate
The Natural Rate Hypothesis has been around us for … since Freidman presidential adress (1968?). Economists know that the definition lies on shaky grounds: the general “equilibrium” referred to in the definition has never existed or proven to exist. But assuming it does exist, we should add a concept acounting for the huge gap between … Continue reading
Job Gap – Employment Policy – It is the right time
Faced with a jobs crisis, policymakers the world over are digging deep into their policy toolkits to generate more employment. A recent study by the IMF’s Fiscal Affairs Department argues that reforms of tax and expenditure policies offer great promise in helping countries confront the jobs crisis, including in the short term. The study argues … Continue reading
China – Job Gap – Workers leaving cities and going back to their home towns
Migrant workers who look for jobs in cities in China are now leaving the cities and going back to their home towns as jobs losses mount amid economic slowdown. This wave of migrant workers leaving cities emerges for the first time since the financial crisis 2008/09. A lot of migrant workers who were originally living … Continue reading
Saudi Arabia – Ministry warns employers: it is a violation of the Kingdom’s labor regulations to insist a woman should be unmarried
Ministry spokesman Hatab Al-Anazi said: “Some private companies are stipulating conditions such as a woman shall be recruited only if she is single or not pregnant if married. “It is against the regulations approved by the ministry.” Al-Anazi added the demand a woman worker should remain single is also against the Islamic law adopted by … Continue reading
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