Job Market Monitor
A Closer Look
UK | Wealthy and Wealthier
Britain’s wealthiest people saw their fortunes rise to record levels last year, according to the annual Sunday Times Rich List, at a time when most Britons’ earnings and savings were squeezed by inflation and low interest rates. The combined wealth of Britain’s 1,000 richest people swelled by almost five percent to more than 414 billion … Continue reading
The Big Waste according to Krugman
In Spain, the unemployment rate among workers under 25 is more than 50 percent. In Ireland almost a third of the young are unemployed. Here in America, youth unemployment is “only” 16.5 percent, which is still terrible – but things could be worse. And sure enough, many politicians are doing all they can to guarantee … Continue reading
Spain enters in recession helped by austerity
Spain sank into recession in the first quarter and economists said spending cuts aimed at meeting strict EU deficit limits together with troubles in the banking sector would delay any return to growth until late this year or beyond. It is the second recession in just over two years for the euro zone’s fourth largest … Continue reading
Canada | Fed Budget | A Third Wave coming while 4,000 to 6,000 to receive notices at StatCan and HRDC
Union bosses are warning that “thousands” of public service sector employees will be receiving notices advising them that their jobs will be “affected” as a result of the government’s spending cuts this week, just as members of one of Canada’s largest unions meet for a national convention in Ottawa beginning Sunday. Speaking to CBC News … Continue reading
Is american manufacturing in crisis?
As pointed out by Calculated Risk, industrial production is still 4.1% below the pre-recession peak. And, from the job market perspective, things are worse. Manufacturing’s decline in jobs is part of a complicated picture Is manufacturing in crisis? That’s a question on the minds of many policy makers. Even President Barack Obama talked about it in … Continue reading
Australia | NAB to cut 1,400 jobs in UK by 2015
NAB, which has been reviewing its UK unit that comprises over 300 Clydesdale and Yorkshire branches, said it planned to cut 1,400 jobs in UK by 2015, close some back offices and move the vast majority of the UK unit’s commercial real estate exposure valued at 6.2 billion pounds ($10.07 billion) to the parent. NAB … Continue reading
A Juxtaposition of news to see where are the new jobs
Where are the jobs? That’s where the juxtaposition comes in. The real job creation numbers — the staggering numbers — remain outside the United States. • Amazon.com is creating 3,300 jobs in Hyderabad, India. • Ford Motor Co. is creating 5,000 jobs in Sanand, India. • Infosys Technologies is creating 4,000 jobs in China. • … Continue reading
1/3 of unemployed in eurozone are from Spain
Fears for Spain’s ‘imploding’ economy grew yesterday as figures revealed that one in four people in the country are out of work. The figure – 24.4 per cent – is so high it means that one jobless person in three inside the eurozone is Spanish. Unemployment in the country now tops 5.6million – its highest … Continue reading
Brazil | Unemployment rate higher but a record low for the month
Brazil’s jobless rate rose slightly more than expected in March but still marked a record low for the month, adding evidence that the local labor market remains strong to underpin a nascent economic recovery. Brazilian unemployment rate rose to 6.2 percent in March before seasonal adjustments, from a previously reported 5.7 percent in February, the … Continue reading
U.S. Multinationals Creates Jobs Mostly Abroad writes WSJ.com
Thirty-five big U.S.-based multinational companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis. Those companies, which include Wal-Mart Stores Inc., International Paper Co., Honeywell International Inc. and United Parcel Service Inc., boosted their employment at … Continue reading
UPDATE – Ageism | Job-hogging over-50s
BBC News – Should job-hogging over-50s all resign? Too few jobs. Rising unemployment, especially for young people. Here’s a radical solution, says commentator on office and workplace life, Lucy Kellaway of the Financial Times (born 1959). Wasting time on the internet recently I came upon a nasty statistic. In the next 10 years, there will … Continue reading
Spain | Unemployment at record level
New figures show that Spanish unemployment levels have hit record levels, with nearly a quarter of the labour force unable to find work. The news comes hours after the country’s credit rating was cut two notches to “BBB+” by ratings agency Standard & Poor’s. According to the new data released on Friday, unemployment levels hit … Continue reading
France | Unemployment Worst Since Sept 1999
Unemployment in France surged to its highest level in over 12 years in March, the labor ministry data showed Thursday, days ahead of the Presidential poll. The number of registered job seekers in the country rose to 2.88 million in March, the highest total since September 1999. The jobless total was up 0.6 percent from … Continue reading
Recession-Proof Industries | Only 2 Industries Have Recovered All The Jobs Lost
Only 2 Industries Have Recovered All The Jobs Lost In The Recession – Business Insider Business Insider looks at the jobs recovery by various industries. The table below shows that the Leisure & Hospitality and Mining industry have recovered all the jobs lost during the Great Recession. The recovery has produced 1.25 million Professional Service jobs, … Continue reading
UPDATE | The cry of an innocent | David Cameron is disappointed by his “remarkable achievement”
Cameron’s Remarkable Achievement – NYTimes.com When David Cameron became PM, and announced his austerity plans — buying completely into both the confidence fairy and the invisible bond vigilantes — many were the hosannas, from both sides of the Atlantic. Pundits here urged Obama to “do a Cameron”; Cameron and Osborne were the toast of Very … Continue reading
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