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India / McKinsey calls for an ‘inclusive reforms’ to reduce poverty
Pursuing an “inclusive reforms” agenda that boosts investments and generates more jobs will help to significantly reduce poverty in India, where over half of the population struggle to meet their essential needs, McKinsey Global Institute (MGI) said today. MGI, business and economics research arm of global consultancy major McKinsey & Company, has also projected that … Continue reading
Philippine / Unemployment rate in 2013 had worsened to 27.5 percent
It is saddening that despite the rapid economic expansion for the past two years, millions of Filipinos remain unemployed. This is what economists refer to as “jobless growth,” a phenomenon that afflicts many developing countries, debunking the myth that economic growth automatically translates to employment and poverty reduction. Halfway into his six-year term, President Aquino … Continue reading
Egypt / Unemployment remains at 13.4 percent
Egypt’s unemployment rate remained unchanged in the fourth quarter of 2013 at 13.4 percent of a labour force of 27.3 million people, according to state-run statistics body CAPMAS. Sixty-nine percent of unemployed people were aged between 15 and 29, and more than 82 percent of those young people held diplomas and university degrees. The CAPMAS … Continue reading
Grads Job Search in UK / Nearly 40% still hunting after six months
Nearly 40 per cent of graduates are looking for work six months after graduation, while a quarter are still unemployed after a year, according to new research. Conducted by the graduate recruitment website Totaljobs.com, the survey also shows that almost half of all graduates wished they had steered clear of academic courses, opting for ‘something … Continue reading
Canada / Job vacancies decline of 22,000 for 5.6 unemployed people for every job vacancy
There were 220,000 job vacancies among Canadian businesses in November, a decline of 22,000 compared with November 2012. There were 5.6 unemployed people for every job vacancy compared with 5.2 one year earlier. The national job vacancy rate was 1.5% in November, down from 1.6% 12 months earlier. Chosen excerpts by Job Market Monitor. Read the whole story at The Daily — Job vacancies in brief, three-month average ending in November 2013. Related … Continue reading
East Asia Rising Pool of Unemployed Grads / Are there too many ?
Fast growing East Asian economies have rapidly increased the numbers of students attending university in recent years. Now the pool of unemployed graduates is rising to worrying levels in the region generally – and even in some high-growth economies. Of particular concern is whether high graduate unemployment is a temporary blip or reflects a chronic … Continue reading
Outsourcing at Delta / To lay off 741 in Detroit
Atlanta-based Delta Air Lines Inc will job out maintenance and service worker jobs at Detroit Metropolitan Wayne County Airport with layoff notices coming in April, reports The Detroit News. The job cuts affect 741 workers, but just how many will remain out of work is unclear, the paper said. Chosen excerpts by Job Market Monitor. Read … Continue reading
Jaguar Land Rover / Recruiting the first 500 in 1,700
Jaguar Land Rover has today begun recruitment for the 500 new jobs at its Solihull manufacturing facility as part of a 1,700 jobs recruitment drive. The plans, announced last September, will see the first intake consist of semi-skilled production operator jobs to support the production of new vehicles, included as part of the £1.5bn invested … Continue reading
IBM / to cut 15,000 jobs, starting in India
Technology giant IBM has started a restructuring process, which would see as many as 15,000 jobs being cut globally, including India, Brazil and the European region. “The estimate of jobs cut globally is 15,000,” international coordinator at the Alliance@IBM (official IBM employees union) Lee Conrad told PTI. Though the exact number of job cuts in … Continue reading
Coal Miner in US / Jobs are vanishing
Coal mine employment in the U.S. has dropped nearly 20% in the past two years as the industry comes under intense competition from natural gas, according to data from SNL energy. From a recent high of about 94,000 in Q4 2011, mining jobs have fallen to about 77,000. Last year, natural gas matched coal in … Continue reading
Latin American youth / Trapped by unemployment and informality says ILO
Latin America’s jobs-creating economic growth has not been strong enough in recent years to improve the employment outlook for young people trapped by unemployment and informality, the ILO said. “We are faced with a political challenge that calls for a determination to apply innovative and effective policies to confront labour market precariousness,” said Elizabeth Tinoco, … Continue reading
Greece / Unemployment rises to 28 pct in November
Unemployment registered a new record in Greece in November as the jobless rate climbed to 28 percent from 27.7 percent in October and 26.3 percent in November 2012, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT). The figures showed that the number of unemployed grew by almost 1 million (991,000) in … Continue reading
Airlines Workers / Iberia to slash pilots salaries by at least 14% as Alitalia avoids 1,900 layoffs
Spanish flag carrier Iberia said Wednesday it had reached a deal with its pilots to slash their salaries by at least 14 percent, part of its bid to return to profit. Iberia’s roughly 1,400 pilots will see their salaries reduced by 14 percent, and possibly by another 4.0 percent depending on the airline’s profitability, under … Continue reading
US Unemployment Insurance Weekly Claims Report / An increase of 8,000 from last week
SEASONALLY ADJUSTED DATA In the week ending February 8, the advance figure for seasonally adjusted initial claims was 339,000, an increase of 8,000 from the previous week’s unrevised figure of 331,000. The 4-week moving average was 336,750, an increase of 3,500 from the previous week’s revised average of 333,250. The advance seasonally adjusted insured unemployment … Continue reading
Labor markets improved overall across the advanced economies finds The Conference Board International Labor Comparisons
Labor markets improved overall across the advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons program for December 2013. The unemployment rate in December fell in three of the nine countries compared, was unchanged in four, and rose in two. The U.S. and Japan … Continue reading
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