Job Market Monitor
Michel Cournoyer
IMF – Global Economic Outlook More Worrisome
Delivering the Nikkei Symposium Keynote Speech in Tokyo, Lagarde said, “In the IMF’s updated assessment of the world economy, to be released ten days from now, the global growth outlook will be somewhat less than we anticipated just three months ago.” “And even that lower projection will depend on the right policy actions being taken,” … Continue reading
Brazil Hikes Tariff On Shoes to Protect Jobs From China
Brazil is one of the hottest shoe makers around, but China is catching up. And they have the scale to make brand name sneakers and sandals a lot cheaper than Brazilians do. So on July 4, Brazil decided to impose tariffs of up to 182 percent on footwear parts and accessories coming from China in … Continue reading
Boehner, Hill Republicans react to bad jobs report
The lackluster jobs report brought a swift and coordinated response from Capitol Hill, with Republicans blaming the poor showing on President Obama’s policies, while Democrats countered that the GOP was wasting time on ideological measures that have little chance at improving the economic outlook. “Today’s report shows the private sector clearly isn’t ‘doing fine’ and … Continue reading
South Korea – One of the world’s fastest-aging workforce
The failure of South Korea, one of the world’s fastest-aging societies, to tackle a shrinking labor pool threatens to undermine growth and lessen the nation’s odds of producing the next Samsung Electronics Co. or Hyundai Motor Co. Only half of women aged 15 years or older were working last year and the participation of females … Continue reading
Employer Strategies for an aging workforce
There are a number of reasons why employers should ensure that workers over the age of 50 remain actively employed with their organization. Nobody wants to lose good workers, and most in this age group have a wealth of experience within both their industry and their company. Many of them enjoy what they do and … Continue reading
Ireland – The ‘unemployment blackspots’
Most counties and cities are above the national average. Limerick City leads this dismal table with over 28 percent reporting unemployment, followed by Donegal and Waterford City. It’s a pretty grim state when the city or county you live in, more than one-in-four are unemployed. But the Census also provides a look at smaller … Continue reading
Federal Government Can Restore Full Employment – If Only it Wanted to Do So
‘Three years after our worst recession since the Great Depression officially ended, the U.S. economy is still very weak’ writes Mark Weisbrot. The people most hurt by this weakness are the unemployed and the poor, and of course the two problems are related. We have about 23 million people who are unemployed, involuntarily working part-time, or have … Continue reading
Update 3 – US Job market loosing momentum : unemployment rate unchanged while nonfarm payroll employment is up in June (+80,000)
Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs, and employment in other major industries changed little over the month. Household Survey Data The number of unemployed persons (12.7 million) was essentially … Continue reading
Canada – Employment was little changed for the second consecutive month and the unemployment rate edged down to 7.2% in June
The lost in momentum in US on the job market might be hitting Canada. In June, employment was little changed for the second consecutive month and the unemployment rate edged down 0.1 percentage points to 7.2%, as fewer people searched for work. Compared with 12 months earlier, employment increased 1.0% or 181,000. At the same time, full-time work was up 222,000 (+1.6%), while part-time … Continue reading
US Job market loosing momentum : unemployment rate was unchanged at 8.2 percent while nonfarm payroll employment continued to edge up in June (+80,000)
Nonfarm payroll employment continued to edge up in June (+80,000), and the unemployment rate was unchanged at 8.2 percent, the U.S. Bureau of Labor Statistics reported today. Professional and business services added jobs, and employment in other major industries changed little over the month. Household Survey Data The number of unemployed persons (12.7 million) was essentially … Continue reading
No Federal Unemployment Benefits for Workers Laid Off During The Rest Of 2012
Jobless Americans are facing a cliff when it comes to their unemployment benefits. As a new report from the National Employment Law Project notes, due to Congress phasing out federal unemployment benefits that were implemented as a response to the Great Recession, U.S. workers who lose their jobs from the first week of July forward … Continue reading
Philippines – Unemployment falls to 26.6% in Social Weather Stations’ survey
Unemployment in the country dropped from an estimate of 13.8 million individuals in the first quarter to 10.9 million individuals in the second quarter, according to a recent survey by the Social Weather Stations (SWS). The survey, conducted from May 24 to 27 and first published in Business World, showed that the number of jobless … Continue reading
Eurozone – Finland could leave rather than pay other nations’ debts
“Finland is committed to being a member of the eurozone, and we think that the euro is useful for Finland,” Ms Urpilainen told financial daily Kauppalehti, adding though that “Finland will not hang itself to the euro at any cost and we are prepared for all scenarios”. The finance minister stressed that Finland, one of … Continue reading
Ontario Power Generation cuts 1,000 jobs
Ontario Power Generation is shedding 1,000 jobs across the province as it prepares for a coal-free future. OPG spokesperson Ted Gruetzner said Wednesday that the move away from coal generation and toward alternative and gas energy sources will reduce the amount of electricity the organization produces, currently about 60% of the province’s supply. The company … Continue reading
France – Sanofi to cut 1,000 to 2,000 jobs
Drugmaker Sanofi plans to cut 1,000 to 2,000 jobs in France, according to French daily Le Figaro, the latest in a series of cost-cutting moves at the company, some of whose key drugs face increased competition from generic rivals. The jobs targetted will be in the areas of research, the manufacturing operations of the company’s … Continue reading
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