Job Market Monitor
In the News
Work Sharing in the US
Short-time compensation (STC) is a program within the federal-state unemployment insurance system. In states that have STC programs, workers whose hours are reduced under a formal work sharing plan may be compensated with STC, which is a regular unemployment benefit that has been pro-rated for the partial work reduction. Although the terms work sharing and … Continue reading
Job Vacancy in May 2014 in Canada – 5.8 Unemployed people for every job vacancy
In May, there were 5.8 unemployed people for every job vacancy, down from 6.3 a year earlier, mostly a result of fewer unemployed people. There were 240,000 job vacancies among Canadian businesses, relatively unchanged from May 2013. The national job vacancy rate was 1.6% in May, little changed from 12 months earlier. via The Daily — Job vacancies in brief, three-month average ending in May 2014.
Economics 101 – The three types of unemployment
Economists often refer to three types of unemployment: “frictional”, “cyclical” and “structural”. Cold-hearted economists are not too worried about the first two, which refer to people moving between jobs and those temporarily laid-off during a downturn. The third kind refers to people who are excluded—perhaps permanently—from the labour market. In econo-speak, structural unemployment refers to … Continue reading
Cisco – To cut 6,000 jobs
Cisco will cut its worldwide staff by 6,000 in the coming months as it battles against slow growth, particularly in emerging markets, where the demand for high-end switches and routers don’t have such high demand. The company hasn’t revealed which roles will be affected, nor in which territories, but it says the action had to … Continue reading
Deere – To cut over 600 factory jobs
Agricultural machinery maker Deere & Co. (DE: Quote) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff. via Deere To Cut Over 600 Factory Jobs At … Continue reading
The True July Job Report for Canada – Employment rose by 42,000 and unemployment at 7.0%
Employment rose by 42,000 in July, the result of an increase in part-time work (+60,000). The unemployment rate declined 0.1 percentage points to 7.0%. In the 12 months to July, employment increased by 157,000 or 0.9%, with most of the growth in part-time work. The total hours worked were up slightly (+0.3%) compared with July 2013. Chart 1 Employment In July, employment increased among people aged 25 to 54 and youths … Continue reading
Growth in Europe vs US – It’s getting worse
Economic growth in Europe came in at zero in the second quarter of 2014. That’s better than being in recession. But it’s not the growth that Europe — with its huge unemployment rate of 12 percent, or roughly 19,130,000 people out of work — needs. The eurozone (below in blue) has been in a depression … Continue reading
Thai Airways – To cut 1,500 jobs this year
Thai Airways expects to return to profit earlier than expected in the fourth quarter, aiming to cut 1,500 jobs this year under its recently approved restructuring plan. The airline also said it would shed more than a quarter of its full-time employees by 2018, the first major job cuts announcement since the plan was given … Continue reading
IT skills gap in UK – A growing interest in alternatives to university education like apprenticeship
There is also a growing interest in alternatives to university education, both from an employer and student perspective. In March 2014, to tie in with National Apprenticeship week, companies including BT, ITV and Virgin Media announced apprenticeship schemes, creating a total of 20,000 openings for apprentices. Mark Ridley, director of IT at online recruiter Reed.co.uk, said … Continue reading
US – Jobless claims rise, but remain near eight-year lows
New applications for unemployment benefits rose last week but remained near eight-year lows. Initial claims for unemployment benefits increased by 21,000 to a seasonally adjusted 311,000 in the week ended Aug. 9, the Labor Department said Thursday. That was more than the 295,000 new claims forecast by economists surveyed by The Wall Street Journal and … Continue reading
Japan – Addressing the Gender Gap
Confronted with decades of economic stagnation, strict immigration controls, and a rapidly aging population, Japanese Prime Minister Shinzo Abe has launched an ambitious plan—widely known as “Abenomics”—to restart Japan’s economy. The program has three main components: a large fiscal stimulus that was injected into the economy in early 2013; expansionary monetary policy that also began … Continue reading
Canada – On StatCan’s attention deficit disorder
But this is far from the only thing troubling regular StatsCan users. I made the following chart to illustrate one of the great frustrations that journalists, economists and academics have with StatsCan. One minute, the agency, tasked with measuring the tick tock of the economy and society, tracks seemingly vital data (such as detailed breakdowns of … Continue reading
(Update) Canada, July 2014 Job Report – An error has been detected says StatCan
An error has been detected in the processing of the August 8 Labour Force Survey release. This error impacts only the July 2014 estimates. The source of the error has been identified and corrected estimates will be released on Friday, August 15, 2014. Statistics Canada takes this matter very seriously and is immediately launching a review of the data verification processes … Continue reading
Canada’s False Job Report – EI claims on hold while StatCan fixes error
Statistics Canada’s decision to pull its latest jobs report forced officials to put employment insurance claims on hold and triggered a flood of speculation from economists as to what Friday’s updated numbers will reveal. Approvals for EI claims are partly based on regional unemployment rates, but officials say staff will be able to manage the … Continue reading
UK – Employment rate for people aged from 16 to 64 near record high but regular pay annual growth rate lowest on record
Key Points for April to June 2014 Comparing the estimates for April to June 2014 with those for January to March 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement over the past two years. There were 30.60 million people in work, 167,000 more than for … Continue reading
Jobs – Offres d’emploi – US & Canada (Eng. & Fr.)
The Most Popular Job Search Tools
Even More Objectives Statements to customize
Cover Letters – Tools, Tips and Free Cover Letter Templates for Microsoft Office
Job Market Monitor 