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Novartis / To shuffle and cut jobs
Swiss drugmaker Novartis plans to reorganise parts of its domestic workforce, cutting up to 500 jobs in its pharmaceutical division to free resources for new roles to support the product launches, the company said on Tuesday. The redeployment comes as new chairman Joerg Reinhardt casts a fresh eye over the company’s operations as part of … Continue reading
Canada / 5.7 unemployed people for every job vacancy, up from 5.1 one year earlier
In October, there were 231,000 job vacancies among Canadian businesses, a decline of 37,000 compared with October 2012. There were 5.7 unemployed people for every job vacancy, up from 5.1 one year earlier, as the decline in vacancies was at a faster pace than the decline in the number of unemployed people. The national job vacancy rate was 1.6% in October, down from 1.8% 12 months earlier. Chosen … Continue reading
US / Many baby boomers are reluctant to retire finds Gallup
True to their “live to work” reputation, some baby boomers are digging in their heels at the workplace as they approach the traditional retirement age of 65. While the average age at which U.S. retirees say they retired has risen steadily from 57 to 61 in the past two decades, boomers — the youngest of … Continue reading
US / Why African-American unemployment is double that of Whites
“The black unemployment rate is typically twice that of the white unemployment rate — in good times and even in bad times,” says William Rodgers, chief economist at the Heldrich Center for Workforce Development at Rutgers University Continue reading
Inequalities / The 85 richest people as wealthy as poorest half of the world
The wealth of the 1% richest people in the world amounts to $110tn (£60.88tn), or 65 times as much as the poorest half of the world Continue reading
Discouraged workers in US / What if they were still in ?
In December, the unemployment rate was 6.7% and the labor force participation rate was 62.8%. Where would the two figures be if all of the discouraged workers that left the labor force since October 2007 came back, and were officially counted as unemployed? Chart 2 shows that the participation rate would be a 0.7 percentage … Continue reading
Intel / To cut 5% or 5 000 jobs
Intel Corp. INTC -2.60% , on the heels of reporting a lower-than-expected fourth-quarter profit, on Friday said it expects to reduce its workforce by about 5% this year. The big chip maker ended 2013 with 107,600 employees, indicating that the cuts could affect close to 5,400 workers. Intel on Thursday projected flat revenue for 2014, … Continue reading
Grads in US / Finding a good job has indeed become more difficult
According to numerous accounts, the Great Recession has left many recent college graduates struggling to find jobs that utilize their education. However, a look at the data on the employment outcomes for recent graduates over the past two decades suggests that such difficulties are not a new phenomenon: individuals just beginning their careers often need … Continue reading
US / More are worse off financially than a year ago finds Gallup
More Americans, 42%, say they are financially worse off now than they were a year ago, reversing the lower levels found over the past two years. Just more than a third of Americans say their financial situation has improved from a year ago. Chosen excerpts by Job Market Monitor. Read the whole story at via More … Continue reading
Alberta / Job growth polarized
Alberta – the economic powerhouse of the country – also shed nearly 12,000 jobs last month. But trends are built over several months, and December’s loss comes on the heels of five consecutive months of gains in Alberta. Even counting the big drop last month, the province saw a net gain of nearly 71,000 jobs … Continue reading
Australia / Full-time employment fell by 22,600 in December but UR stayed at 5.8%
Australia’s unemployment picture worsened, exacerbating the central bank’s dilemma over whether to give the economy a boost by further cutting interest rates, or to back off to avoid fanning inflation and prevent a surging property market from overheating. The number of people in full-time work fell by 22,600 in December, government data showed Thursday, capping … Continue reading
Job Search in Europe / EURES would be improved
The pan-European job search network EURES would be strengthened to provide more job offers, increase the likelihood of job matches and help employers, notably small and medium businesses, to fill job vacancies faster and better, under a proposal just presented by the European Commission. Once adopted by the EU’s Council of Ministers and the European … Continue reading
J.C. Penney / To cut 2,000 jobs
J.C. Penney Co. (JCP) Chief Executive Officer Mike Ullman, intensifying efforts to revive the money-losing department-store chain, plans to close 33 stores and eliminate about 2,000 jobs to help save $65 million a year. The closings and cuts will result in pretax charges of $26 million in the fourth quarter and $17 million in future … Continue reading
Sears Canada / To cut 1,628 jobs
Sears Canada Inc. is cutting another 1,628 jobs after having reduced its work force last year by almost the same number as the retailer tries to bolster its struggling operations. The company said late Wednesday it will outsource jobs in three call centres to IBM, in a cost-cutting move that will affect 1,345 employees over … Continue reading
South Africa / 400 000 have come back home
While as many South Africans as live in central Cape Town have returned to the Beloved Country since 2008, state immigration policies mean that South Africa’s brain drain remains as serious as ever, a new report shows Continue reading
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