Job Market Monitor
In the News
Canada / More than one third of workers have dated a co-worker finds CareerBuilder.ca Survey
Looking for a Valentine? The office might be a good place to start, according to a new CareerBuilder.ca survey. CareerBuilder’s annual survey on office romance found more than one-third (35 percent) of Canadian workers have dated someone who worked for the same company, and 15 percent say they have done so more than once. The … Continue reading
Canada / Increases in immigration level bring immigrants real wages down
The annual level of immigration is one of the most critical components of a country’s immigration policy. It is difficult to directly compare the costs and benefits of changing immigration levels because immigration can serve multiple goals. However, some narrowly-defined effects can be empirically assessed. This study considers solely the potential influence of immigration levels … Continue reading
Australia / Unemployment worst in a decade
Australia’s unemployment rate in January jumped to 6.0 per cent – its worst in a decade – with the economy shedding 3,700 jobs amid a turbulent transition away from mining, data showed on Thursday. The Australian Bureau of Statistics said the jobless rate increased from 5.8 per cent in December, with some 7,100 full-time positions … Continue reading
Barclays / 12,000 confirmed job cuts this year
British bank Barclays said Tuesday it planned to axe between 10,000 and 12,000 jobs this year, including 7,000 in Britain. The bank, which now employs 140,000 people worldwide, described the job cut as an effort made to lower costs. The cuts will involve 820 management persons, including 220 senior ones. The Barclays chief executive Antony … Continue reading
China / Balanced economic reforms for continued job creation
Taken at face value, China’s recent 2013 jobs data present a healthy picture of growing employment. The government reported a “record high” 13.1 million new urban jobs were created and, despite slowing GDP, headline unemployment remained relatively low at 4.1 percent. This led government spokesman Li Zhong to assert that the Chinese economy is “more … Continue reading
Oilsands in Canada / 478 000 direct, indirect and induced jobs last year says a report
Canadian oil sands production is currently generating significant economic benefits for Canada in terms of jobs, economic growth and government revenue, a new IHS CERA Oil Sands Dialogue study finds. The economic contributions of oil sands—currently greater than that of Saskatchewan, Canada’s fifth largest province—will grow substantially in coming years as oil sands production is … Continue reading
Russia / Big Companies Cutting Staff
A slew of announced layoffs is rattling the domestic labor market, threatening to further undermine a weak economy. Russia’s two largest banks, state-owned Sberbank and VTB, have joined the country’s biggest carmaker, AvtoVAZ, in declaring significant staff reductions in the upcoming months. VTB Group disclosed last month that it would cut employees and the salaries of remaining staff at its core business, VTB bank, and its investment arm, … Continue reading
Home Depot / More than 80,000 temporary employees will be hired to prepare for the spring
Home Depot Inc. (HD:US), the largest U.S. home-improvement retailer, plans to add the same number of part-time workers for its busiest sales season as it did in 2013, capitalizing on rising demand for home renovations. More than 80,000 temporary employees will be hired to prepare for the spring, when Americans traditionally spend more to fix … Continue reading
Labor Force Participation in US / A Chart
The unemployment rate reached its Obama administration peak in October 2009, at 10 percent. Since then, it has fallen steadily, but unevenly, to its current low. The unemployment rate has fallen, though, partly because of people giving up looking for work. Those who are unemployed, but no longer looking for work, are not included in … Continue reading
India / Without jobs, the demographic dividend will be a disaster
Jobs in India grew by just 2.2% between 2010 and 2012. Economist Alakh N Sharma, director of the Institute of Human Development and principal author of India Labour and Employment Report 2014, spoke with Rema Nagarajan about why unemployment is rising, the people it hits hardest, manufacturing as a remedy — and how competitiveness goes … Continue reading
US / Young college graduates are outperforming their peers with less education
For those who question the value of college in this era of soaring student debt and high unemployment, the attitudes and experiences of today’s young adults—members of the so-called Millennial generation—provide a compelling answer. On virtually every measure of economic well-being and career attainment—from personal earnings to job satisfaction to the share employed full time—young … Continue reading
HP cuts in UK / Over 700
HP is to axe the jobs of hundreds of UK staff before May. National officer for IT and communications for trade union Unite, Ian Tonks, told The Channel Register that 782 UK staff were to be made redundant before the end of HP’s Q2 2014, which finishes on April 30th. Another 7,100 jobs are due … Continue reading
China / Fierce regional competition for skilled workers
China’s coastal cities are facing the pressure of a severe labor shortage as the country’s western interior catches up as a magnet for skilled workers. The situation came to the fore following publication of a survey on Monday showing a shortfall of 123,300 workers in Guangzhou, capital of south China’s Guangdong Province. Eighty percent of … Continue reading
Welfare in Northern Ireland/ Not reforming could 1,400 jobs
If Northern Ireland does not fall into line with Westminster on welfare reform it will cost us more than £1bn in funding over the next five years, as well as 1,410 Civil Service jobs in Belfast and Londonderry, according to a Stormont minister. The potentially ruinous figures are contained in a paper circulated by Finance … Continue reading
US federal workforce / The three episodes of cuts
There have been three modern episodes in which federal employees have been cut during a presidential administration: the post-World War II demobilization under president Harry S Truman (1945-53); the Cold War peace dividend and budget cuts under president Clinton (1992-2000); and now Obama, who has downsized the federal government during the recession. Here’s a comparison: via … Continue reading
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