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US – The entrenched class system
Class haunts people from womb to grave, limiting their ability to flourish and pursue the good life as they define it. Confronted with the reality of our society’s entrenched class system, our national politics in its present state offers three responses. The first response is to deny reality altogether, usually in favor of an anecdote … Continue reading
Finland – Unemployment above 9 percent
According to Statistics Finland some 241,000 persons were unemployed in Finland in February, bringing the unemployment rate to 9.1 percent compared to 8.7 percent one year ago in 2013. In January of this year, the jobless rate was recorded at 8.5 percent. The agency added that the number of persons in the inactive work population … Continue reading
Tunisia – Addressing Youth Unemployment
How can the transitional government begin to address youth unemployment in light of low growth? In the two decades prior to the 2011 uprising, Tunisia has grown at a steady rate, but the economy failed to produce jobs. Unemployment increased in 2011 to over 18 percent and remains high at around 17 percent. There are … Continue reading
Unemployment Benefits Cuts in North Carolina – The largest drop in its labor force in its history
In June, North Carolina lawmakers made such drastic cuts in unemployment benefits that the state was dropped from the federal Emergency Unemployment Compensation program, which made sure those who were out of work past their state-level benefit cutoff, typically around 26 weeks, still got benefits. The number of people receiving benefits fell to 45,000 by … Continue reading
UK / Thousands of low-skilled food manufacturing jobs are likely to go unfilled
Thousands of low-skilled food manufacturing jobs are likely to go unfilled as the industry focuses on filling high-skilled jobs vacancies, the industry has warned. There is a large demand for workers with basic skills in UK food manufacturing, despite the large number of graduates seeking jobs. Although the sector faces a skills shortage, most people … Continue reading
US – Requests for religious accommodation and the law
In recent years, the number of complaints filed with the Equal Employment Opportunity Commission regarding religious discrimination has dramatically increased. According to the EEOC, there were 1,709 complaints of religious discrimination in 1997 and 3,721 complaints in 2013. Prohibitions when it comes to religion With respect to religion, Title VII prohibits among other things: Disparate … Continue reading
Credit Suisse / Cut up to 500 jobs to be announced
Credit Suisse could cut up to 500 jobs at its private bank as part of a cost-saving drive, a Swiss newspaper reported on Sunday. The Schweiz am Sonntag said Hans-Ulrich Meister, co-head of Credit Suisse’s private bank, is working on a plan to cut up to 500 positions worldwide, of which around half could be … Continue reading
Pope Francis : Unemployment Wounds Human Dignity
“It is necessary to reaffirm that employment is necessary for society, for families and for individuals.” These were the words of Pope Francis during an audience with steelworkers from the “Acciaierie di Terni”, along with their families. The group, which was accompanied by the bishop of their diocese, were in Rome to celebrate the 130th … Continue reading
Yellen on the Unemployment Target – What did she say ?
Transcript of Chair Yellen’s Press Conference March 19, 2014 CHAIR JANET L. YELLEN. Good afternoon. I am pleased to join you for the first of my post-FOMC press conferences. Like Chairman Bernanke before me, I appreciate the opportunity these press conferences afford to explain the decisions of the FOMC and respond to your questions. The … Continue reading
Saving for Retirement in US – Who’s not ?
Earlier this week, Encore asked the rhetorical question: “Do you have to be a bleeding heart to believe that it’s hard to save money when you aren’t making money?” The occasion was the publication of the annual Retirement Confidence Survey, which yielded the palm-smack-to-the-forehead statistic that 36% of Americans had saved $1,000 or less for … Continue reading
Greece – The end of public sector 103 years job security enshrined in the Greek Constitution
Last summer, job cuts were scheduled at vocational and technical schools across Greece and staff were asked to reapply for their old jobs, or another position. As of Monday, March 23, around 400 of the total 1,845 teachers who didn’t apply for other positions, and who have not been offered other posts, will be fired. Thus ending the … Continue reading
Volvo – To cut 450 jobs in Sweden
Truck maker Volvo’s construction equipment unit plans to cut 450 jobs in Sweden due to lagging profitability and an unfavourable product mix, its European head of production said on Thursday. Jorgen Svenningsson said the company hoped to be able to solve the issue on a voluntary basis and that none of the employees had been … Continue reading
Baby Boomers and Participation in US – The aging effect accounts for more than 40 percent of the decline
The United States is in the process of a dramatic demographic change – the rapid aging of the popula- tion – and that change has implications for the labor force participation and unemployment figures that we see every month. Since older people have lower labor force participation than the young, as more of the population … Continue reading
Canada – Job vacancies rate at its lowest level since the data are published
Canadian businesses reported 200,000 job vacancies in December, down 21,000 compared with 12 months earlier. There were 6.3 unemployed people for every job vacancy, up from 5.7 in December 2012. The increase in the unemployment-to-job vacancies ratio was the result of fewer job vacancies, as the number of unemployed people was little changed. Unemployment-to-job vacancies ratio increases in Alberta and Saskatchewan In Alberta, there were 2.3 unemployed people … Continue reading
Growth in inequality for decades is likely
What if inequality were to continue growing years or decades into the future? Say the richest 1 percent of the population amassed a quarter of the nation’s income, up from about a fifth today. What about half? To believe Thomas Piketty of the Paris School of Economics, this future is not just possible. It is … Continue reading
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