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Job Cuts – HSBC to cut 35,000 jobs worldwide
Bank warns of ‘meaningful’ job losses in UK and of impact of coronavirus outbreak in Asia The bulk of HSBC’s profits come from Asia, which has been hit by the coronavirus outbreak. HSBC has said it will slash 35,000 jobs over three years as part of a major shake-up as it issued a warning over … Continue reading
US – Industrial production declined 0.3 percent in January
Industrial production declined 0.3 percent in January, as unseasonably warm weather held down the output of utilities and as a major manufacturer significantly slowed production of civilian aircraft. The index for manufacturing edged down 0.1 percent in January; excluding the production of aircraft and parts, factory output advanced 0.3 percent. The index for mining rose 1.2 percent. At 109.2 percent … Continue reading
Youth Workforce Development – Business leaders and other stakeholders should address four primary challenges
Using input from youth, representatives throughout the business community, and nonprofits, think tanks, and academia, the report’s objective is to move past the narrow question of which skills are needed and pursue the broader issue of how the business community can prepare today’s youth for 4IR. Business leaders and other stakeholders should address four primary … Continue reading
Soft Skills – 4 Recommendations for coaching
1. Respect the challenges people face. Soft skills are never developed from scratch. People use the behaviors involved instinctively every day. Some of these behaviors work well, and some of them may not. Regardless of their effectiveness, these behaviors are habitual. When we set out to help others develop skills, we are asking people to change … Continue reading
Europe – Industrial production down by 2.1% in euro area
In December 2019 compared with November 2019, seasonally adjusted industrial production fell by 2.1% in the euro area (EA19) and by 2.0% in the EU27, according to estimates from Eurostat, the statistical office of the European Union. In November 2019, industrial production remained stable in the euro area and in the EU27. In December 2019 … Continue reading
Global Labor Market – Unemployment projected to rise in the next two years says ILO
A lack of decent work combined with rising unemployment and persisting inequality is making it increasingly difficult for people to build better lives through their work, according to the latest edition of the ILO’s global report on employment and social trends. Chosen excerpts by Job Market Monitor. Read the whole story @ Flagship report: World Employment and … Continue reading
Labour Costs in Europe (Q3 2019) – Annual growth at 3.1% in EU28
Hourly labour costs rose by 2.6% in the euro area (EA19) and by 3.1% in the EU28 in the third quarter of 2019, compared with the same quarter of the previous year. In the second quarter of 2019, hourly labour costs increased by 2.8% and 3.2% respectively. These figures are published by Eurostat, the statistical … Continue reading
Job Vacancies in Europe (Q3 2019) – Euro area rate at 2.2%
The job vacancy rate in the euro area (EA19) was 2.2% in the third quarter of 2019, down from 2.3% in the previous quarter and up from 2.1% in the third quarter of 2018, according to figures published by Eurostat, the statistical office of the European Union. In the EU28, the job vacancy rate was … Continue reading
Industrial Production in Europe (October 2019) – Down by 0.5% in Euro Area
In October 2019 compared with September 2019, seasonally adjusted industrial production fell by 0.5% in the euro area (EA19) and by 0.4% in the EU28, according to estimates from Eurostat, the statistical office of the European Union. In September 2019, industrial production fell by 0.1% in the euro area and rose by 0.1% in the … Continue reading
STEM-educated Immigrants in Canada – The country of education appears to be an important determinant
This paper examines the skill utilization and earnings of employed immigrants with a university degree in the science, technology, engineering, and mathematics (STEM) fields. Unlike earlier papers, which dealt with immigrant STEM graduates as a whole, this paper disaggregates the results by field of study and degree level (bachelor’s, master’s, and doctoral). In 2016, immigrants … Continue reading
Job Report in Canada, November 2019 – Employment fell by 71,000 and unemployment rose to 5.9%
After holding steady in October, employment fell by 71,000 (-0.4%) in November. The unemployment rate rose by 0.4 percentage points to 5.9%. Compared with November 2018, employment gains otalled 293,000 (+1.6%), with the increase largely accounted for by full-time work. Over the same period, total hours worked grew by 0.2%. Highlights In November, employment declined in Quebec, Alberta and British Columbia, while it was … Continue reading
Job Report in US (November 2019) – Employment rose by 266,000, much better than expected
Total nonfarm payroll employment rose by 266,000 in November, and the unemployment rate was little changed at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in health care and in professional and technical services. Employment rose in manufacturing, reflecting the return of workers from a strike. Household Survey Data … Continue reading
Unemployment in EU (October 2019) – Euro area at 7.5% EU28 at 6.3% with 3.240 million young persons (under 25)
The euro area (EA19) seasonally-adjusted unemployment rate was 7.5% in October 2019, down from 7.6% in September 2019 and from 8.0% in October 2018. This is the lowest rate recorded in the euro area since July 2008. The EU28 unemployment rate was 6.3% in October 2019, stable compared with September 2019 and down from 6.7% … Continue reading
Job Cuts – Daimler and Audi
Daimler on Friday announced plans to cut thousands of jobs across the globe by the end of 2022. “The automotive industry is in the middle of the biggest transformation in its history,” Daimler said in a statement. (Reporting by Tom Sims, editing by Riham Alkousaa) Chosen excerpts by Job Market Monitor. Read the whole story at Daimler … Continue reading
Pension Systems – Governments need to quickly put in place more inclusive and harmonised pensions for all OECD says
Governments should urgently reform their pension systems to ensure that the growing share of workers in temporary or part-time employment can contribute enough during their working lives to receive an adequate income in retirement, according to a new OECD report. Pensions at a Glance 2019 says that non-standard employment, such as self-employment, temporary or part-time … Continue reading
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