Job Market Monitor
In the News
US / Jobless claims fall sharply to five-year low
The number of Americans filing new claims for jobless benefits fell sharply last week to its lowest level since the early days of the 2007-09 recession, suggesting the job market is still healing despite weakness in the broader economy.Other data on Thursday showed a narrowing of the U.S. trade gap in March, although drops in … Continue reading
UK / The gap between our underemployment index and the unemployment rate is widening
Official unemployment figures are disguising the fact that a significant number of people who are in both full time and part time work are not able to work longer hours even though they want to, a report published on Thursday suggests. According to an analysis carried out for the National Institute of Economic and Social … Continue reading
UK / Double-dip recession could have been a ‘statistical error’
Office for National Statistics says that the trend in economic output was ‘best described as flat’ Real GDP in UK recessions. Source: ONS The Office for National Statistics has paved the way for erasing Britain’s double-dip recession from the history books, arguing in an article on Wednesday that the state of the economy since autumn … Continue reading
US / Job creation remains much better this year that it was in 2009, 2010, and 2011 finds Gallup
Job creation, according to American workers’ reports, remains much better this year that it was in 2009, 2010, and 2011. But, reports of hiring have been stuck in the low to mid-30% range for some time. This is partly due to lower levels of government hiring. Nongovernment workers continue to report slightly higher levels of … Continue reading
US / 41% of college grads overqualified for what they do
College just isn’t worth what it used to be. A survey out Tuesday found that 41% of college graduates from the last two years are stuck in jobs that don’t require a degree. Consulting firm Accenture talked to 1,005 students who graduated from college in 2011 and 2012 and haven’t returned to graduate school. In … Continue reading
May Day in Europe / Thousands rally against austerity
Trains and ferries were canceled and hospital staff walked off the job in Greece on Wednesday and thousands were due to demonstrate across Spain as May Day triggered protests against harsh government spending cuts. Separately, Turkish riot police fired water cannon and tear gas to disperse crowds gathering in central Istanbul for a rally on … Continue reading
Good International Workers’ Day
International Workers’ Day is the commemoration of the 1886 Haymarket affair in Chicago. The police were trying to disperse a public assembly during a general strike for the eight-hour workday, when an unidentified person threw a bomb at them. The police reacted by firing on the workers, killing four demonstrators. “Reliable witnesses testified that all … Continue reading
UK / The myths about redundancy rights
Employees have a number of rights when employers try to wield the axe, but many are not entirely clear about what they are entitled to when threatened with redundancy. As a result, myths abound. Here are some common misconceptions and the truth behind them. Myth I will get a reference when I leave. Reality There … Continue reading
Tennessee / Mass layoff rapid response team axed
Tennessee labor officials are shutting down a federally funded rapid response team that had been used to provide quick assistance to employees caught in the midst of mass layoffs across the state. The elimination of the unit, which had been in operation for about a decade, comes despite the strong protest of some members of … Continue reading
UK / Health reform redundancy count tops 10,000
More than 10,000 NHS staff have been made redundant in the past three financial years as a result of the government’s commissioning reforms, according to official figures. New information was published by the Department of Health on Tuesday in its final “people tracker” document, which collects workforce information on the reform transition. It also reveals … Continue reading
Philippines / Unemployment rate remain high despite strong economic growth
Despite strong economic growth, the unemployment rate in the Philippines remains the highest in Southeast Asia. The government admits it has not been able to meet its target of creating one million jobs a year, and now hopes to create employment by drawing in more investments. Vivian Atienza, a 40-year-old single mother, will soon leave … Continue reading
Asia / Gap between rich and poor widening finds the Asian Development Bank (ADB)
The Asian Development Bank is urging the Philippines and other countries in Asia to address the widening inequality between rich and poor, in terms of income and access to education, health and other services. The ADB noted that despite the rapid growth in the economies of some of these Asian countries, the gap between rich … Continue reading
Europe / Telecoms could reduce their workforces by 30%
Telecoms network upgrades could cost 300,000 jobs in Europe over the next five years as wireless and wireline carriers move to more efficient technologies and look to reduce their workforces by 30%. According to the UNI Europa ICTS union, which represents telecoms workers across the European Union, within a decade the sector will see its … Continue reading
Egypt / Morsi vows more jobs
Egyptian President Mohamed Morsi has said his administration aims to create thousands of new jobs over the next three years. Morsi made the comments on Tuesday during a speech at the state-owned Iron and Steel Complex in Cairo’s Helwan. “This bastion expands over 21 million square metres. It is not just a factory, but a … Continue reading
UK / Jobseekers on bogus psychometric tests
Jobseekers are being made to complete bogus psychometric tests by the Department for Work and Pensions – and told that in some cases they risk losing their benefits if they do not complete the meaningless online questionnaire. The test called My Strengths, devised by Downing Street’s behavioural insights or “nudge” unit, has been exposed by … Continue reading
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