Job Market Monitor
Michel Cournoyer
Arab Spring turns to economic winter
The world’s highest youth jobless rate left the Middle East vulnerable to the uprisings that ousted Egypt’s Hosni Mubarak and three other leaders in the past year. It has got worse since then. About 1 million Egyptians lost their jobs in 2011 as the economy shrank for the first time in decades. Unemployment in Tunisia, … Continue reading
North-East UK | 450 jobs go
MORE than 450 North-East workers were facing redundancy last night after another grim day for the regional economy. Two of the North-East’s major employers announced the bad news as an international think-tank said the spectre of a UK double-dip recession was now a reality. About 350 jobs are at risk at the Kerry Foods processing … Continue reading
Germany | Schlecker | 12,000 jobs lost
Nearly 12,000 employees of a struggling German drugstore chain faced an uncertain future on Thursday after a rescue package was blocked by the Free Democrats. The junior partner in Chancellor Angela Merkel’s coalition government opposed a 70-million-euro loan guarantee. The package would have backed a retraining and job placement scheme for Schlecker employees. Katja Deuser, … Continue reading
VG247 | GAME stores shuttered, 2,104 jobs cut
MCV has a full list of the 277 GAME and Gamestation stores closed during the first day of administration by PWC. While the firm said earlier that it believes there is still room for a high street specialist chain, it made significant closures across the UK and Ireland; up to 300 outlets are expected to … Continue reading
Australia | Bunnings creates 6,000 jobs
Hardware chain Bunnings has announced plans to create 6,000 jobs in the next three years as part of its longstanding expansion plans. The company says it will spend $1.5 billion building 85 new stores across Australia and New Zealand… Read More @ Bunnings expansion to create 6,000 jobs – ABC News (Australian Broadcasting Corporation).
U.S. | Unemployment Extension | Summary of the changes
Federal extended unemployment benefits are in effect for 2012, however federal extended benefits for long-term unemployed workers will be gradually reduced to 73 weeks in the states with the highest rates of unemployment and 63 weeks elsewhere. Alison Doyle presents a summary of the changes @: via Unemployment Extension.
Australia’s unemployment benefits | Bad and getting worse
“A report on inequality to be delivered to Treasurer Wayne Swan this morning will label Australia’s welfare system one of the best and most efficient in the developed world, with the exception of unemployment benefits which are the worst relative to community standards and shrinking” writes Peter Martin. The report, to be unveiled just after Mr … Continue reading
India | Higher Education : In need of a sustainable policy
“India does not have a credible and sustainable public policy on higher education (HE) even after 64 years of independence,” said Prof M Anandakrishnan, chairman, IIT Kanpur. He was delivering the keynote address at a symposium on ‘Public Policy and Governance’ organized by the School of International Relations and Politics (SIRP), MG University on Thursday. … Continue reading
Job | Technological Know-How is a Must
“As the internet has grown from 70 million users in 1997 to 2.2 billion, entrepreneurial companies with technology at their core have disrupted entire industries and threatened or eliminated incumbents. For example, Square, the new electronic payment service, has already upended a long-established financial ecosystem, with some arguing that it may even replace cash” writes Daniel … Continue reading
OECD | UK | Back in recession – The Guardian
The UK is heading back into recession and will be among the slowest of the world’s largest economies to recover in the first half of this year, according to a study by the Paris-based thinktank, the OECD. Only Italy will struggle over a longer period to return to growth, highlighting the difficult situation confronting the … Continue reading
U.S. | The top 1 percent got 93% of income growth
93 percent of income growth went to the wealthiest 1 percent of American households, while everyone else divvied up the 7 percent that was left over according to Emmanuel Saez. Main Findings Source: http://elsa.berkeley.edu/~saez/saez-UStopincomes-2010.pdf “Figure 1 presents the income share of the top decile from 1917 to 2010 in the United States. In 2010, the top … Continue reading
Canada | Budget | DND cuts account for one-fifth of federal budget cuts over next three years – Winnipeg Free Press
Roughly one-fifth of all federal cuts over the next three years will come out of the Defence Department, the budget tabled Thursday by Finance Minister Jim Flaherty indicates. It is a substantial hit for a department that for many years saw generous increases under the Harper government and whose budget had approached $21.2 billion last … Continue reading
Nokia | 1,000 job cuts in Finland – Reuters
Nokia (NOK1V.HE) finished on Thursday job cut talks with the staff at its plant in Salo, Finland, resulting in planned lay-offs of up to 1,000 people. The jobs at the last large cellphone manufacturing plant in Western Europe will be cut gradually through 2012, with most cuts happening by the end of June, the company … Continue reading
UK | 1,800 jobs cut under MoD reforms – The Guardian
In a written statement to Parliament, defence personnel minister Andrew Robathan said he regretted the uncertainty and anxiety caused to staff involved but said the Government “can and will” make changes in guarding and civil policing. Under the measures, the MoD Police is to downsize from a current strength of just under 3,100 to about … Continue reading
Exar Cutting More Than 30% of Jobs
The chipmaker Exar this morning said it has expanded its cost reduction program, cutting about 120 jobs, or about 30% of worldwide headcount. The move is intended to save about $12 million a year, about 30% of that in operations and 70% in R&D and SG&A. The cuts follow a previous round of cuts in … Continue reading
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