Job Market Monitor
A Closer Look
UK | BAE axing around 2,000 jobs, ending nearly 100 years of aircraft manufacturing in Brough
BAE Systems, Britain’s biggest defence contractor, has brushed aside a plea by David Cameron to save high-level manufacturing jobs and is proceeding to axe around 2,000 posts. The worst-hit plant will be Brough in East Yorkshire, where BAE is to make 750 compulsory redundancies and end manufacturing – a move described by trade unions as … Continue reading
Billy Graham Association | 10 % of its workers laid off
The Billy Graham Evangelistic Association has laid off about 10 percent of its workers, which it says is part of a strategic move to emphasize its online ministry and other priorities. The agency said fewer than 50 employees lost their jobs. The association, which evangelist Billy Graham started in 1950, spreads the Gospel to a … Continue reading
New Brunswick | Industrial Rail Services facing major layoffs – – CBC News
The issue means 200 employees at Industrial Rail Services could be affected, depending on how long it takes to fix the problem, according to Dick Carpenter, the company’s president… via Via Rail car restorer facing major layoffs – New Brunswick – CBC News.
Kodak | Layoffs Start Today while Seeking to Cut Benefits for 16,000 Retirees
Ninety-one Kodak employees will be laid off as part of the company’s decision to no longer make digital cameras for consumers. via Layoffs at Kodak start today – Henrietta, NY – Henrietta Post. ______________________________________________________ Eastman Kodak, the troubled camera maker that recently filed for bankruptcy, is considering a move that will cut health benefits for … Continue reading
Job Gap | Spain | Cost of hiring has risen 24% in recent years
Spain’s high unemployment rate of around 23% means many Spaniards, young people in particular, are leaving the country to find work elsewhere. One popular destination is Germany, where the jobless rate is under 7%. But starting afresh in a new country is challenging. Munich’s airport shuttle bus is dropping off newly arrived passengers in the … Continue reading
Unemployment Claims | Remain at 4-Year Low
UNEMPLOYMENT INSURANCE WEEKLY CLAIMS REPORT SEASONALLY ADJUSTED DATA In the week ending February 25, the advance figure for seasonally adjusted initial claims was 351,000, a decrease of 2,000 from the previous week’s revised figure of 353,000. The 4-week moving average was 354,000, a decrease of 5,500 from the previous week’s revised average of 359,500. The advance seasonally … Continue reading
U.S. | Less Than 6 out of 10 in employment, much worse than that of any of the other four recent recessions
The employment-population ratio is another useful measure for evaluating labor market conditions, as it provides a somewhat different perspective than the unemployment rate. The labor force—the denominator used in the calculation of the unemployment rate—may expand or contract in response to changes in the pace of economic activity. In contrast, the civilian noninstitutional population, the … Continue reading
Eight states and the District of Columbia reported unemployment rates of 10.0 percent or more in 2011 | 2011 Unemployment rate by State – Annual Average
In 2011, 30 states posted statistically significant unemployment rate decreases, the largest of which was in Michigan (-2.4 percentage points). Four additional states experienced decreases greater than 1.0 percentage point: Ohio (-1.4 points), Utah (-1.3 points), Oregon (-1.2 points), and Indiana (-1.1 points). The remaining 20 states and the District of Columbia reported annual average unemployment rates for 2011 that … Continue reading
Europe | Unemployment rises to record 10.7% in Euro Zone and above 20% for Youth and in Spain
Europe’s leaders travel to Brussels on Thursday, hoping to chart the continent’s way back to growth as figures show unemployment in the 17-country eurozone has spiked to its highest level since the euro was established in 1999. While the two-day summit is for once taking place amid relative calm on financial markets, Europe’s population is … Continue reading
Youth Tough labor market | Economic Policy Institute
As we approach graduation season, it’s important to note the uphill battle young job seekers continue to face in today’s labor market. The unemployment rate for workers under the age of 25 has improved to 16.0 percent since its peak of 19.6 percent in the spring of 2010, but, excluding the Great Recession and its … Continue reading
Job Gap | Skill Gap | Matching the Jobless With 3.4 Million Jobs – NYTimes.com
EVER since the deep recession hit four years ago, many colleges have been rethinking their continuing education programs, straining to figure out how best to help the many unemployed Americans who have looked to them as a lifeline. With the unemployment rate still stubbornly high, this rethinking has led to a powerful trend in which … Continue reading
Canada | Federal Budget | Job cuts will be modest: Baird | Toronto Sun
Cuts to the public service will occur “overwhelmingly” by attrition — and not by deep cuts, Foreign Affairs Minister and Ottawa West-Nepean MP John Baird told the Sun on Tuesday. Trying to send a calming message to skittish civil servants, Baird said federal budget cuts will be “like nothing” that took place in the 1990s. … Continue reading
Does 275 webOS layoffs mark the end of HP tablets? | Techi.com
When Meg Whitman declared late last year that WebOS tablets would be made again in 2013, the concept was met with hope by developers… The releases occurred today, but it wasn’t what most expected. Rather than simply software people, many of the 275 employees released worked on the hardware… via Does 275 webOS layoffs mark … Continue reading
PepsiCo layoffs will hit Westchester harder; 145 jobs will be cut | LoHud.com
Westchester County will bear more than its share of PepsiCo’s latest cost-savings measures. While the Purchase-based global food and beverage giant trims 2 percent of its employees around the nation, the local workforce — about 3,000 people in the county — will be cut by almost 5 percent, a company spokesman said. PepsiCo expects to … Continue reading
RSM to cut 300 jobs and close offices | Manchester Evening News – menmedia.co.uk
Accountants and business advisers RSM Tenon has signalled hefty job cuts and a series of office closures as it seeks to slash costs and return to profit. The firm, which employs more than 500 staff in the north west across offices in Manchester, Bolton, Rochdale, Chorley and Preston, aims to reduce its workforce of just … Continue reading
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