Job Market Monitor
In the News
China / Only 30% of the world now has a higher GDP per capita
China’s economic achievement is so enormous, indeed literally without parallel in human history, that it is sometimes difficult for people to take in its scale. A country which in 1978, when “reform and opening up” was launched, was one of the poorest in the world, has now reached a point where it has a higher … Continue reading
Vacation Around the World / United States Still a No-Vacation Nation
The United States is the only advanced economy that does not guarantee its workers any paid vacation time, according to a new review of international labor laws by the Center for Economic and Policy Research (CEPR). As a result, almost 1-in-4 Americans do not receive any paid vacation or paid holidays, trailing far behind most … Continue reading
India / U.S. firms have generated 350,000 jobs between 2007 and 2011
Painting a buoyant picture of the Indo-U.S. trade ties, Jennifer McIntyre, Consul-General of the U.S. Consulate General in Chennai, has said the bilateral trade in goods and services between the two countries has increased by four-and-a-half times in the last decade. Addressing members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here … Continue reading
US / Unemployment Insurance / Claims drop back
SEASONALLY ADJUSTED DATA In the week ending May 18, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 23,000 from the previous week’s revised figure of 363,000. The 4-week moving average was 339,500, a decrease of 500 from the previous week’s revised average of 340,000. The advance seasonally adjusted insured unemployment … Continue reading
Australia / Ford to cut 1,200 jobs
Car manufacturer Ford announced today it will stop making vehicles in Australia in 2016 and axe 1,200 jobs, having produced its first car in the country in 1925. Ford Australia chief executive Bob Graziano made the announcement as he revealed a loss of 141 million Australian dollars ($136 million) after tax in the last financial … Continue reading
Stockholm / Riots and immigration policy
The unrest has provoked intense soul-searching in a country that prides itself for both its generous welfare state and open immigration policy. Sweden accepted 44,000 asylum-seekers in 2012, up by nearly a half from a year earlier. Among industrial countries, it has the second-largest amount of asylum-seekers relative to its population, according to U.N. figures. … Continue reading
China’s Labor Market
China’s labor markets are flashing a warning sign, with new job adverts on a leading recruitment website sharply down in April, and job losses in manufacturing spreading to the services sector. With the official data on labor markets infrequent — and, in some cases, misleading — alternative indicators take on an added significance. China Real … Continue reading
Namibia / Union Urges Companies to Pay Minimum Wage
THE Metal and Allied Namibian Workers Union (Manwu) has urged the construction employers, especially in the north, to immediately comply with the implementation of minimum wages. The call was made by Manwu general secretary Justina Jonas at a press conference at Ongwediva yesterday. According to Jonas, Manwu has noted that there are many construction projects … Continue reading
UK / Stress and presenteeism sapping productivity
A rise in presenteeism is affecting productivity levels at work, as nearly two in three employees have attended work while feeling ill in 2013. According to the research from business psychology company Robertson Cooper, productivity levels for employees who feel ill drops from 75% on ‘normal days’ to 55% on ‘sick days’. The study also … Continue reading
Bernanke / Fighting Unemployment Is A Better Cure Than Austerity
The Federal Reserve chairman, in testimony before the Joint Economic Committee of Congress on Wednesday, suggested that ending the nation’s long-term unemployment crisis would be a more effective way of shrinking government deficits and debt than the austerity cocktail funneled down our throats by Congress and the White House in recent years. “The loss of … Continue reading
Gen Y’s (Millennials) Impact
By 2025, Gen Y is going to make up 75% of the global workforce and their independent-thinking and entrepreneurial mindset is going to change the future of the workplace. Unless employers can understand this, they’ll risk losing their top talent, says Dan Schawbel, founder of Millennial Branding and author of the new book “Promote Yourself.” … Continue reading
Australia / Telstra to slash jobs
THE terminal decline of Telstra’s once-dominant fixed telephony business and the rise of new business opportunities have forced the telco giant into a major operational restructure that will affect half the company’s 30,000-strong domestic workforce. The restructure, which was announced yesterday in an internal memo from Telstra chief operations officer Brendon Riley, is likely to … Continue reading
Working in Asia Grows Tougher for Westerners
Despite low unemployment and solid hiring across many sectors, the job market in Asia is gradually becoming less welcoming for Westerners. Even before the global financial crisis, newcomers to Asia could not expect to walk into a job in the region unless they had particularly sought-after skills. About 60 percent of job specs processed by … Continue reading
Ford / More Jobs And Vacations Skipped
Pent-up demand for new vehicles, along with a rebounding economy and a surging stock market, is bringing car buyers out in droves. On Wednesday, Ford Motor said it will add an additional 200,000 units of annual capacity this year — almost the equivalent of opening another assembly plant in North America. The extra capacity at … Continue reading
Canada / 150,000 jobs would be at risk in the housing sector
Canada’s housing market is slowing dramatically in terms of both sales and construction, dragging down economic growth and putting some 150,000 jobs at risk in coming years, a mortgage industry association warns in its spring report. The Canadian Association of Accredited Mortgage Professionals stops short of calling the ongoing slide that began about nine months … Continue reading
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