Job Market Monitor
Michel Cournoyer
The Euro Crisis Rides Again
After a quiet-ish few months, Euro panic came back in a big way on Tuesday. Spanish stocks hit a three-year low. Spain’s bond yields crept back up above 6 percent. It wasn’t any better in Italy, whose stocks fell 5 percent. That’s a lot of bad news on a day with seemingly no new news. … Continue reading
Workforce Retirements and Skills Gaps
A joint survey released April 9, 2012, by the Society for Human Resource Management (SHRM) and AARP shows that U.S. employers are ramping up training programs aimed at closing expected skills gaps left when Baby Boomers retire. In addition, companies are enhancing employee benefits that they hope will help with recruiting and retaining older workers, … Continue reading
Immigrants | Job growth quicker than native-born Americans
Immigrants are experiencing a faster rate of job growth than native-born Americans in the economic recovery, data show. “It seems that the rate of unemployment for immigrants is slightly lower than for the native group,” said Jeanne Batalova, a policy analyst with the Washington, D.C.-based Migration Policy Institute, which analyzed employment data for the region … Continue reading
P.E.I. | Cuts to come in public sector jobs
The P.E.I. government plans to remove 300 jobs from its payroll in the upcoming budget, CBC News has learned, and hopes to cut most of those positions through attrition. Premier Robert Ghiz has confirmed the downsizing is coming. “While you may not love coming in and delivering a budget along these lines it’s still your … Continue reading
Skills Gap | Community colleges part of the solution
Community colleges have long viewed job training as central to their mission, but the role has taken on added significance since the economic recession. Even with nearly 13 million Americans unemployed, some companies can’t find qualified candidates. As many as 3.5 million jobs are unfilled right now, many of them in the fields of information … Continue reading
UK | Nissan new hatchback will create 1,000 jobs
Japanese car giant Nissan is to build a new hatchback at its UK plant, creating more than 1,000 jobs at the site and at component companies. The announcement was made by Prime Minister David Cameron and Nissan chief operating officer Toshiyuki Shiga, during a visit to Nissan’s headquarters in Yokohama, Japan on Tuesday. The new … Continue reading
India | Brings visa fee hike to WTO
India is challenging the United States at the World Trade Organisation over increased visa fees for skilled workers that have hit the country’s flagship outsourcing firms, an official said Tuesday. “We are pursuing this at the consultation level. It is our hope we reach an amicable conclusion,” a senior commerce department official in New Delhi … Continue reading
College Return on Investment
When people talk about the value of a college degree, they mean different things. A report last year by Georgetown University’s Center on Education and the Workforce pegs the median value of a four-year bachelor’s degree at $2.3 million, which is the average earnings for a degree holder employed full-time from ages 25 to 64. … Continue reading
Canada – A Widening Skills Gap
A fault line is splintering Canada’s labour market into those who can’t find work and those who can’t find workers. There’s no shortage of people looking for work. Some 1.4 million Canadians are unemployed, the jobless rate is still above pre-recession levels and youth unemployment is nearly 14 per cent. Despite this, employers across the … Continue reading
Prime Aged American Men | From over 80 percent at work to less than 3 in 4
The percentage of Prime Aged American Men Without Disability (PAAM) who are employed is one of the best labor market indicator.
Consumer Goods | Layoffs Mounting
Consumer goods companies are planning more layoffs than all other industries this year due to company reorganizations, rising commodity prices and weak consumer spending, according to Chicago-based outplacement firm Challenger, Gray & Christmas. Companies such as Procter & Gamble, PepsiCo and Kraft Foods announced a total of 18,438 job cuts in the first quarter of … Continue reading
India | Dhanlaxmi Bank | To cut more jobs
More pain of job loss awaits employees of Dhanlaxmi Bank. As the Kerala-based private bank moves ahead with business consolidation and rationalisation, more heads are expected to roll. Already, the staff strength of the Thrissur-headquartered bank has come down to a little over 4,200 from 4,600 in November last year, as more than 300 employees … Continue reading
Finland | Tieto | After 1300 job cuts
Despite 1300 job cuts globally, Finland’s IT major Tieto Corporation is planning to restructure the business and may exit some unprofitable markets. Tieto will downsize 1,300 jobs including about 500 in Finland and 300 in Sweden. The company is planning to save over 50 million euros in annual costs by cutting these jobs. Speaking to … Continue reading
Canada | Skilled workers program changes will deter future immigrants
Canada’s decision to close the files of skilled workers who applied to immigrate before March 2008 will give the country a black eye and deter future immigrants with needed skills, according to a Vancouver immigration lawyer. The federal government plans to return applications and refund fees for nearly everyone who applied under the program before … Continue reading
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