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In the News
China / Govt workers least satisfied
Government employees in China are the unhappiest with their job compared to their compatriots in other industries, according to a survey conducted by the Institute of Psychology under the Chinese Academy of Sciences and the recruitment website zhaopin.com. Among 9,072 respondents surveyed, government employees rank the last in 12 industries in terms of self-satisfaction, with … Continue reading
US / Youth Unemployment Will Cost $18 Billion Over The Next Decade
America has a youth unemployment problem, and it’s not just the kids who are suffering. The nation is poised to lose $18 billion in wages over the next decade due to high youth unemployment, according to a Bloomberg Brief from Bloomberg Senior Economist Joseph Brusuelas. Brusuelas estimated that about 1.3 million 16- to 24-year-olds have … Continue reading
US / Suburban poverty soars
Poverty is growing faster in the suburbs than anywhere else in the United States, soaring 64% over the past decade. That was more than twice the growth rate of the urban poor population, according to the Brookings Institution, which has released Confronting Suburban Poverty in America. There are now almost 16.4 million suburban residents living … Continue reading
Rising inequality jeopardizes economic recovery says Federal Reserve’s Sarah Bloom Raskin
A top ranking member of the United States Federal Reserve cautioned economists this week that growing inequality within the US was worsening the odds of a quick return to the conditions of the pre-recession days. Fed Board of Governors member Sarah Bloom Raskin was in Washington, DC on Thursday, and during an address before the … Continue reading
UI in US / Expanding the definition of misconduct
Traditionally, unemployment benefits can go to any laid-off employee not guilty of “misconduct.” By law, simple failure to meet production quotas, for example, cannot be deemed misconduct unless it represents a “willful and wanton” refusal. In the past two years, however, four states have rewritten their laws to vastly expand the definition of misconduct. In … Continue reading
Spain / A crisis education reform
Spain’s government has approved an emergency reform of the crisis-hit education sector, hoping to reduce the number of school dropouts and curb the soaring youth unemployment rate. Deputy Prime Minister Soraya Saenz de Santamaria said the plan aimed to improve young people’s job prospects at a time when unemployment among those aged 16 to 24 has surpassed … Continue reading
Russia / Human capital development is the challenge says OECD
To pursue economic growth, Russia must develop its human capital, which requires structural reforms in education, healthcare and pensions. These, in turn, must respond to major trends in service provision, including the increasing role of individual choice, the need to deliver lifelong learning and healthcare, and the risk that Russians will increasingly buy services abroad, … Continue reading
China’s Grads / Children of Communist Party officials have a substantial advantage
The China Data Center at Tsinghua University recently published a study revealing that new graduates who happen to be the children of Communist Party officials have a substantial advantage compared to their classmates. Starting salaries for these lucky few are nearly 15 percent higher than those of their peers who have no filial government connections. … Continue reading
Canada / People don’t want to move out of province Bank Canada research finds
In theory, this need not be a crippling blow for the national economy. In the above scenario, rational Ontarians should follow the money and migrate to Alberta to take advantage of the boom times. But as a team of Bank Canada economists remind in an excellent new study (pdf), Canada doesn’t really work this way. … Continue reading
India / A summit on employability of engineers
Expressing concern over the lack of employability of engineering graduates in the state, the Odisha Private Engineering College Association (OPECA) has decided to hold an educational conclave on May 17 to guide colleges to maximize students’ employability. “By our own evaluation, only about 35% engineering graduates are getting jobs in their areas of specialization. Another … Continue reading
Thailand and Germany / A treaty on vocational education development
The cabinet has approved a cooperation treaty on vocational education development between Thailand and Germany aimed at bringing excellence to the Thai education. Mr. Tosaporn Sererak, spokesperson for the Prime Minister’s Office announced the outcomes of the cabinet meeting, saying the ministerial council has approved a treaty in which the Ministry of Education of Thailand … Continue reading
Outsourcing to Asia / 200,000 new jobs in 10 years research finds
More than 200,000 new manufacturing jobs could be created in the next decade as mid-sized manufacturing businesses end the process of outsourcing to Asia according to new research from the Royal Society for the encouragement of Arts, Manufacturers and Commerce and supported by Lloyds Banking Group. The ‘Making at home, owning abroad’ study found that … Continue reading
Canada / Immigration age limit for family reunion set at 19 rather than the current 22
Age at immigration is key to newcomers’ economic outcomes, Ottawa says Older children of immigrants will be prevented from joining their parents and siblings in Canada under a new federal government plan to restrict the definition of “dependent child.” The change, which takes effect Jan. 1, will narrow the definition of a dependent child to … Continue reading
China / Skills Gap in logistics
Employers in China face such a severe shortage of logistics staff that one British company is offering work to 20% more candidates than it has jobs. Paul Brooks, sales director of Unipart Logistics, said that the company regularly offered employment to between 10% and 20% more candidates than it had jobs because they knew that … Continue reading
Quebec / Alcoa and Alcan postpone smelter upgrades with impacts on jobs
With an aluminum market weighed down by surpluses, Alcoa Inc. and Rio Tinto Alcan are postponing billions in upgrade and expansion plans to their smelters in Quebec. While some 750 Rio Tinto Alcan employees will get to keep their jobs longer, 500 Alcoa workers will be pushed into early retirement. Alcoa is deferring by three … Continue reading
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