Job Market Monitor
In the News
Italy – Youth unemployment rate (aged 15-24) was 43.7% in June
In June 2014 22.398 million persons were employed, +0.2% compared with May 2014. Unemployed were 3.153 million, -2.4% with respect to the previous month. Employment rate was 55.7%, +0.2 percentage points with respect to May 2014, unemployment rate was 12.3%, -0.3 percentage points over the previous month, and inactivity rate was 36.3%, unchanged over May. … Continue reading
Germany – Unemployment drops for first time in three months
German unemployment fell for the first time in three months in a sign that Europe’s largest economy is gathering pace after a second-quarter slowdown. The number of people out of work dropped a seasonally adjusted 12,000 to 2.9 million in July, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 5,000, according … Continue reading
Singapore – Unemployment rates in Q2 hold steady at 2.0 per cent
Overall unemployment rate in Singapore remained at 2.0 per cent, but total employment growth slowed in June, according to the Ministry of Manpower’s figures. Fewer workers were laid off from April to June, when compared to the previous three months. Preliminary estimates released by the Manpower Ministry’s Manpower Research and Statistics Department on Thursday (July … Continue reading
Ireland – Unemployment rate hits five-year low of 11.5%
The number of people signing on the Live Register fell again this month as conditions in the labour market continue to improve. The latest set of figures from the Central Statistics Office (CSO) showed the number of claimants on the register dropped by 3,400 in July, the 25th consecutive monthly drop. As a result, the … Continue reading
Philippines – 1.65 million more employed in April from a year ago
From 37.01 million in April 2013, the number of employed Filipinos rose to 38.66 million during the same period this year, or an increase of 1.65 million jobs nationwide. This was reported on Wednesday by Labor Secretary Rosalinda Baldoz, citing the April 2014 Labor Force Survey of the Philippine Statistics Authority (PSA). Barring any major … Continue reading
Unemployment in Europe in June – 11.5% for the Euro Area, 10.2% for the EU28 and 5.129 million young persons under 25
The euro area (EA18)* seasonally-adjusted unemployment rate was 11.5% in June 2014, down from 11.6% in May 20144, and from 12.0% in June 2013. This is the lowest rate recorded since September 2012. The EU28 unemployment rate was 10.2% in June 2014, down from 10.3% in May 2014, and from 10.9% in June 2013. This … Continue reading
Jobless Claims in US – Rise by 23,000 to 302,000
The number of U.S. workers claiming unemployment aid rose last week after sinking to a 14-year low earlier in the month. Initial claims for unemployment benefits increased by 23,000 to a seasonally adjusted 302,000 in the week ended July 26, the Labor Department said Thursday. The figures were slightly better than expected. Economists surveyed by … Continue reading
Amgen (Biotechnology) – To cut between 2,400 and 2,900 jobs
Biotechnology company Amgen (IW 600/67) announced Tuesday that it will cut between 2,400 and 2,900 jobs and shutter two facilities in the United States in a reorganization to save money. Amgen (AMGN) plans to close facilities in Washington and Colorado as it cuts 12% to 15% of its workforce, with most of the job losses … Continue reading
Coding in EU – Skills shortage of 900,000 coders by 2020
The European Commission (EC) has warned that we face a shortage of 900,000 coders by 2020. The number of computer science graduates is not keeping pace with demand for coding skills, the EC warned this week, as it tries to encourage young people to take up coding over summer. It also said that the number … Continue reading
Announced Job Cuts in IT – Up 68 percent in the first half of 2014, without counting those by Microsoft
Even before Microsoft announced plans to reduce its workforce by 18,000, a new report shows that job cuts in the technology sector were well ahead of last year’s pace. Through the first half of 2014, employers in the technology sector announced plans to cut payrolls by 48,402, 68 percent more than the 28,883 announced layoffs … Continue reading
South Africa – Unemployment at 25.5 in Q2 with our counting the 2,419,000 discouraged job seekers
The unemployment rate increased by 0.3 percent between the first and second quarters of this year to reach 25.5 percent, Statistics SA said yesterday. The increase in the number of unemployed has resulted in an increase in the unemployment rate above pre-recessionary levels. The Quarterly Labour Force Survey revealed that almost 5.2 million people were … Continue reading
Nigeria – People blame politics and unemployment for terrorism attacks
Asked, “In your opinion, what is the major cause of terrorism in Nigeria?” 26 percent said “Election/political interest” while 21 percent of respondents answered “unemployment”. Meanwhile 10 percent, 8 percent and 6 percent of individuals polled respectively said bad government/leadership, high level of poverty and corruption is the major cause of terrorism in the country. Chosen excerpts by … Continue reading
The US Middle Class – 20 percent poorer than it was in 1984
As the Russell Sage Foundation points out, the slow housing recovery means that, in 2013, median households were still 36 percent poorer than they were a decade earlier. In fact, the housing bust was big enough to erase all the gains the middle class had made the past 30 years—and then some. As you can see below, … Continue reading
Japan – Unemployment rises to 3.7% while job offer at 22-year high
The jobless rate rose for the first time in almost a year in June, while the ratio of job offers to seekers hit a 22-year high, official data showed Tuesday. The unemployment rate edged up to 3.7 percent in June from 3.5 percent the month before, the internal affairs ministry said. It was the first … Continue reading
Canada – The Job Market is worse than it appears
Employment Rate for 25-54 Year Olds To control for demographic effects, we take out groups that are often still in school (24 years and younger) or can potentially enter early retirement (55 and up). There are other endpoints we can use, but limiting the discussion to 25-54 year olds is the most common approach. Under … Continue reading
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