Job Market Monitor
In the News
India / Youth hit by the Jobs Gap
“There are just no jobs in the market,” says Manjunath (26), who works as a carpentry apprentice in Shivajinagar. After completing his polytechnic diploma, he attended a dozen job fairs. “They take your contact details, put you through a lot of paperwork, and in the end there is nothing,” he says, adding that the only … Continue reading
Rio Tinto / Sam Walsh warns of more job cuts
Rio Tinto chief Sam Walsh on Sunday warned of more job cuts as the mining giant works to make US$5 billion in savings by the end of 2014, but he was upbeat about demand for iron ore from China. The comments follow the Anglo-Australian miner posting its first annual loss in 18 years in February, … Continue reading
China / Is This the End of Cheap Labor?
It’s been the lament of everyone for years now: Cheap Chinese labor is killing the job market. With lower wages and lax regulation, the giant sucking sound we heard was manufacturing jobs headed from Sheboygan to Shenzhen. But now China’s new found riches are starting to turn in on themselves in the form of much … Continue reading
Saudi Arabia / Indian workers to be regularized
Indian workers who have travelled to Saudi Arabia legally will be allowed to regularise their visa status, get new jobs or to return home if they register voluntarily with the Saudi authorities during the three months grace period announced by the Kingdom, according to officials. This was among the issues discussed at the joint group … Continue reading
Magna / To cut jobs in Europe and US
Canadian auto parts maker Magna International plans to cut jobs in Europe and the United States as it seeks to reduce costs and offset weak demand in Europe, Chief Executive Donald Walker told German magazine WirtschaftsWoche. Chosen excerpts by Job Market Monitor via Canada’s Magna to cut jobs in Europe, U.S.: report | Reuters.
The Great Recession: 4,750 “excess” suicides in US, 1,000 in UK
In a book to be released this month, professors David Stuckler and Sanjay Basu say suicide rates in both the U.S. and the U.K. increased after the end of 2007, which marked the beginning of the recession in the U.S. They calculate there were 4,750 “excess” suicides during the slump in the U.S., compared with … Continue reading
Canada and the Talent War / Governments are courting skilled workers
Canadian governments, at both the national and provincial levels, are courting skilled workers such as plumbers, pipefitters, electricians and others from the U.S. and elsewhere. In addition to the program under which Thomas was hired, a category for specific trades began in January to address labour shortages while easing the path to residency, the federal … Continue reading
Mining / South Africa / Amplats to cut 14,000 jobs
Anglo American’s platinum arm is expected to cut 14,000 mining jobs as part of the loss-making business. According to industry sources, the mining company is under pressure from South African government. Anglo American Platinum, the world’s top platinum producer, is battling to restore profits and is planning to cut back production and mothball two mines … Continue reading
India / Employability / Classle launches ‘Ready Steady Jobs’
Classle has launched Ready Steady Jobs, a programme to tackle the employability issue. The training, according to Vaidya Nathan, Chief Executive and Founder of Classle, would consist of a series of video tutorials, discussions and assignments, targeted at helping students develop the skills required to land a satisfying job. ‘It is open to students across … Continue reading
(Update2) US / Employment rose by 165,000 in April, unemployment rate to four-year low, but still …
Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services,food services and drinking places, retail trade, and health care. Household Survey Data The unemployment rate, at 7.5 percent, changed little in April but … Continue reading
Nuclear / Duke Energy is cutting 585 jobs at Crystal River
Duke Energy issued a notice to the state this week that it intends to transfer or lay off 585 employees at the shuttered Crystal River nuclear plant over the next year or so. The utility expects to begin layoffs May 31. As many as 58 workers face termination by June 30. Duke announced in February … Continue reading
US Unemployment Rate / Why Not Target a 3% ?
Sad to say, the Fed considers 5.2 percent to 6 percent the economy’s long-run normal rate of unemployment. Achieving that rate would be a vast improvement over today. Still, once upon a time and not all that long ago, America’s elites strived for full employment, a catchphrase now relegated to economic history. Full employment was … Continue reading
Euro Zone / Economy to contract in 2013
The euro zone economy will contract by more than expected this year and budget deficits will decline more slowly, the European Commission said on Friday as it set out forecasts for the next two years. France, Spain, Italy and the Netherlands – four of the five largest euro zone economies – will be in recession … Continue reading
Europe / Barroso calls for ‘ambitious’ youth jobs plan
European Commission president Jose Manuel Barroso on Thursday urged Europe’s leaders to come up with an “ambitious” jobs plan for youth at a June summit, as he held talks with new Italian premier Enrico Letta. Winding up a tour that has taken him to Berlin, Paris and Brussels to present his economic recipe for Italy, … Continue reading
US / Private-sector jobs growth slows in April according to ADP
Private-sector employment growth slowed down in April, hitting the lowest result in seven months as tax hikes and government spending cuts took a toll, Automatic Data Processing Inc. reported Wednesday. Private employers added 119,000 jobs in April, the weakest gain since September, compared with 131,000 in March, according to ADP’s monthly report. “Job growth appears … Continue reading
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