Job Market Monitor
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Jobless Claims in US – An increase but remain near a seven-year low
The number of Americans filing new claims for unemployment aid inched up last week but remained near a seven-year low, a sign of strength for the job market. Initial claims for unemployment benefits, a reading that helps gauge the number of newly laid-off workers, rose by 8,000 to a seasonally adjusted 312,000 in the week … Continue reading
US – Gallup’s Job Creation Index reaches a new high
Gallups U.S. Job Creation Index reached a new high in its more than six-year trend, registering +27 in May. The prior high had been +26 in the initial monthly measurement of January 2008, just as the recession was taking hold. The index is based on employee reports of hiring activity at their places of employment. … Continue reading
Teen Unemployment in US – A crisis says EPI
In preparation for summer 2013, the Employment Policies Institute EPI released a new analysis highlighting the nation’s staggeringly high 24.1 percent teen unemployment rate. Teen unemployment has exceeded 20 percent for over four and a half years—a fact that calls into question the wisdom of passing additional minimum wage increases that would price more teens … Continue reading
Canada – Increase in women participation is over
The long-term economic growth trend in Canada will slow because female participation in the workforce has probably crested, says Organization for Economic Cooperation and Development economist Peter Jarrett. “We have been living off the fact that steadily more young women were entering” the labor force, said Jarrett, who covers Canada for the Paris-based OECD. “That … Continue reading
Unemployment insurance reduces transitions into self-rated ill-health in 23 European countries study finds
The global financial crisis of 2008 is likely to have repercussions on public health in Europe, not least through escalating mass unemployment, fiscal austerity measures and inadequate social protection systems. The purpose of this study is to analyse the role of unemployment insurance for deteriorating self-rated health in the working age population at the onset … Continue reading
Barclays / Hundreds investment bank jobs cut this week
Barclays Plc has this week cut several hundred jobs in its investment bank as part of its plan to shrink the business by 7,000 staff over the next three years to save costs, people familiar with the matter said. The cuts will mostly be in the fixed income, currencies and commodities FICC trading and markets … Continue reading
US – ADP Job Report in May: Private-sector employment increased by 179,000
Private-sector employment increased by 179,000 from April to May, on a seasonally adjusted basis. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report – May 2014 | NER. Private-sector job creation was weaker than expected in May U.S. businesses added more jobs in May, though not as many as economists anticipated–the latest sign … Continue reading
Colombias – Unemployment drops to 9%, lowest in 14 years in April
Unemployment in April has dropped to 9%, 1.2 percentage points less than in the same month last year and the lowest rate in 14 years, Colombia’s statistics agency announced Friday.According to statistics agency DANE, the April unemployment rate has dropped a total of 3.2 percentage points since 2010 when the administration of President Juan Manuel … Continue reading
Siemens-Unify – To cut 3,800 jobs
Unify – formerly Siemens Enterprise Communications – is cutting its workforce in half to focus on software over hardware. The vendor is slashing 3,800 jobs from its global headcount of nearly 7,700. Central Europe will be the worst hit, accounting for 50 percent of the cuts, according to a statement from the company. “This transformation is … Continue reading
Alitalia – Up to 2,500 layoffs expected says Italian Labor Minister Giuliano Poletti
Between 2,400 and 2,500 layoffs are expected at Italian flag carrier Alitalia once a major investment deal has been made final with Etihad Airways, Italian Labor Minister Giuliano Poletti said Tuesday. “At least with regard to those in the public sector. Then we will have to see, once there is substantial discussion between the two … Continue reading
Europe – 40% cant afford a vacation
Taking one week off from work per year is now considered a luxury for European workers.According to data from Eurostat, four out of ten EU citizens dont have the money to take one week off and spend it anywhere else than at home. The data also shows that even in the richer north, a major … Continue reading
How do robots work at Amazon (video)
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Siemens – To cut 11,600 jobs but CEO calls job cut reports incorrect
German industrial giant Siemens plans to eliminate around 11,600 jobs around the world as part of a major restructuring, a company spokesman says. “These jobs will be cut,” the spokesman told AFP on Friday, confirming remarks made by chief executive Joe Kaeser to a conference of investors and analysts in New York on Thursday. The … Continue reading
Unemployment Insurance Extension in US – Update
Barring an unexpected change of direction from the Republican leadership, the House of Representatives on Friday evening will go into recess yet again without taking action on extending emergency unemployment compensation benefits for millions of the long-term jobless. It’s not the first time the House has left town without delivering financial help for the more … Continue reading
France – Unemployment rate hit record high in April
New official figures show that the number of the registered unemployed people in France reached a record high in April.According to the statistics released by the French Labor Ministry on Wednesday, the number of the jobless increased by 14,800 in April 2014 to a record high of 3,364,100.This is while economists had predicted a smaller … Continue reading
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