Job Market Monitor
Michel Cournoyer
China | Skill Gap | A structural problem
Because of the slowdowns in both the global and Chinese economies, the shortage of laborers has eased slightly, especially for export-oriented companies. “Although it is still not easy to recruit suitable workers, the situation now is much better than it was at the start of last year,” said Zhang Kuifeng, general manager of a Hangzhou-based … Continue reading
Pennsylvania – Economic future depends on producing more college graduates
A new report finds that the main culprit is the state’s insufficient rate of higher education. In Pennsylvania, 38.6 percent of the state’s nearly 6.7 million working-age adults hold at least a two-year degree, according to the 2010 Census data. In Somerset County that is only 24.75 percent…. “Help Wanted,” a report by the Georgetown … Continue reading
UK | Skills crisis writes Insider deputy editor Ben Pindar
Insider deputy editor Ben Pindar looks at the prospect of a skills crisis in the burgeoning digital sector. Earlier this year, I wrote here about how a skills crisis was holding back businesses in the region, particularly in the manufacturing sector. The piece followed an interview with Prime Minister David Cameron challenging him to tackle … Continue reading
Skill Gap | Arizona | 77 percent employers say “very difficult” or “somewhat difficult” to find qualified computer scientists
According to federal figures, there were nearly 3.5 million job openings in the U.S. in February. About 700,000 of them were in the West. With nearly 262,000 Arizonans looking for work, why don’t the jobs and the prospective workers match up? In everyday terms, the economy needs more software programmers and physical therapists and skilled … Continue reading
Toyota began axing 350 jobs in Melbourne
Dozens of sacked Toyota workers who were marched from their workstations by security guards will fight to get their jobs back. Toyota began axing 350 jobs at its Altona plant in Melbourne on Monday in response to weak export sales impacted by the high Australian dollar. Most of the workers were unwillingly retrenched and 80 … Continue reading
U.S. | The number of people not in the labor force at an all time high
The “official” unemployment rate ticked down to 8.2% in March, and the actual unemployment rate ticked down to 14.8%. That’s nice. Except for the fact that people who are willing & capable of working are leaving the workforce en masse… The number of people not in the labor force is now at an all time … Continue reading
UK | Will barely avoid a double-dip recession says Ernst and Young ITEM Club
The UK has narrowly avoided a double-dip recession but will struggle for the rest of the year unless businesses stop hoarding cash and start investing, a forecaster warned today. Emergency measures from the Bank of England, European Central Bank and US Federal Reserve have boosted confidence and stabilised financial markets, pulling the UK back from … Continue reading
Credit Suisse | Jobs cut could reach 5,000
Swiss bank Credit Suisse could announce the loss of up to 5,000 jobs in its investment banking business at its forthcoming first-quarter results, a Swiss newspaper reported on Sunday.
UK | Ageism is back
After receiving thousands of rejection letters, 60-year-old Anthony Barlow decided to conduct an experiment. He had been on the dole for more than a year and was becoming convinced his age was the reason. So he responded to a job advert with two applications: one with his real age and another with a date of … Continue reading
Labour Market Regulations : Policy makers do not necessarily have a comprehensive approach
Mariya Aleksynska and Martin Schindler provide descriptive statistics showing that there exists substantial heterogeneity in labor market institutions across regions and income groupings, and that much of the sample variation is driven by institutional changes over time in low- and middle-income countries in Labor Market Regulations in Low-, Middle- and High-Income Countries: A New Panel Database published bu imf.org. (Adapted excerpts by … Continue reading
Columbus Casino | Over 600 will be hired
Hollywood Casino Columbus now is hiring for more than 600 full- and part-time dealer positions. Opening in the fall, the casino is recruiting team members for more than 100 table games, including 30 poker tables. Candidates can apply online at http://www.hollywoodcolumbus.com. “For our dealer positions, we need fun-loving people who are passionate about the business, … Continue reading
Algeria | Unemployment and Labor Market Issues
Davide Furceri analyzes unemployment and labor market developments in Algeria and assess the factors that may hamper employment creation in Unemployment and Labor Market Issues in Algeria published by imf.org.(adapted excerpts by Job Market Monitor) He suggests that the relative low output-employment elasticities and rigid labor market are the main factors behind the still high level of unemployment, particularly among the … Continue reading
Great Recession vs Great Depression : Not as deep but recovery much slower
The causes of the Great Recession were similar to the Great Depression – as opposed to most post war recessions that were caused by Fed tightening to slow inflation – and I’m frequently asked if we could compare the percent job losses during the two periods. Unfortunately there is very little data for the Great … Continue reading
Crazy Statistics about The European Crisis
doesntevenmakesense.com has gathered the following statistics about the European economic crisis that are ‘almost too crazy to believe….’ Greece #1 The Greek economy shrank by 6 percent during 2011, and it has been shrinking for five years in a row. #2 The average unemployment rate in Greece in 2010 was 12.5 percent. During 2011, the average unemployment rate was 17.3 … Continue reading
Detroit | At least 4,100 teachers get layoff notices
At least 4,100 Detroit Public Schools teachers have received layoff notices and are being told that they can reapply for their jobs next month. Detroit Federation of Teachers union President Keith Johnson told The Detroit News (http://bit.ly/HI0fpe) that that notices were sent by the district this week. The layoffs are effective Aug. 24, shortly before … Continue reading
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