Job Market Monitor
In the News
IBM / More than 1,200 layoffs
Big Blue is reportedly prepping for layoffs. But will IBM cuts hit Research Triangle Park? Job cuts of between 1,200-1,400 employees are expected over two years in France. There is no word on whether other areas will be impacted. IBM is thought to employ 10,000 in RTP, but they have not disclosed a local headcount … Continue reading
Boeing / To lay off 1,700 and as many as 700 engineers
The Boeing Co. will reduce its engineering workforce by as many as 1,700 people by the end of the year, with 700 engineers facing layoffs, the Everett Herald reported. As many as 100 engineers will receive 60-day layoff notices on Friday, the Herald reported. Mike Delaney, the vice president of engineering for Boeing, told the … Continue reading
Canadians Now More Affluent Than Americans
They’ve been known to get pretty excited when a new, big-name discount retailer comes to town, but thanks to a booming housing sector, Canadians are more affluent than their American neighbors. At least for the moment, that is. Chosen excerpts by Job Market Monitor via Canadians Now More Affluent Than Americans – Real Time Economics … Continue reading
Sequester / The End Long-Term Unemployment Benefits In 11 States
States are having such a hard time implementing congressional cuts to long-term unemployment insurance that some workforce agencies might just cancel the benefits altogether. The federal budget cuts known as sequestration require states to trim federal benefits known as Emergency Unemployment Compensation by roughly 10 percent. But what would seem like a simple administrative procedure … Continue reading
Euro Zone / Rehn promises less austerity
The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, EU Economic and Monetary Affairs Commissioner Olli Rehn has said. Mr Rehn’s comments are being viewed by some as an admission that fiscal adjustments linked to the troika programmes in Europe are having a greater-than-expected impact on growth. Chosen excerpts by Job … Continue reading
UK / Underemployment missed in headline figures
Headline figures miss important groups, such as the part-time workers who want to go full-time but can’t, or the freelancers and self-employed who are barely attracting enough work or customers to get by. Neither of these groups are out of work; but nor are they fully employed. And while they are included in some totting … Continue reading
California / Saving Unemployment Insurance
A rescue effort is underway for the state’s financially troubled unemployment insurance program, an economic lifeline that currently provides weekly monetary support for 525,000 jobless Californians. More than $10 billion in the red, the unemployment insurance fund has been spiraling toward bankruptcy in recent years, even as it continues to provide weekly jobless benefits of … Continue reading
Netherlands / Unemployment tops 8%
The official Dutch unemployment figure reached a new high of 8.1% in March, according to the latest figures from the national statistics office CBS. In total, 643,000 people are without a job, an average increase of 24,000 a month since the start of the year. The sharpest rise was among people aged 25 to 45, … Continue reading
Vietnam / Mekong delta short of skilled workers
Vietnam’s tourism experts say a lack of skilled workers will hinder tourism development in the Mekong River delta and cause the region to lag behind other areas of the country. Ministry of Culture, Sports and Tourism’s southern office acting director, Le Van Hung, told local media that the delta was one of the country’s most … Continue reading
BC / The auto sector needs skilled labour
The Automobile Retailers Association and its industry partners have conducted a study to identify future labour needs of the sector. The research project took an industry “pulse check” to compare future labour demand with anticipated supply to see how they will align. The project identified a future gap in all employment areas in the automotive … Continue reading
Europe / Sabic to Cut 1,050 Jobs
Saudi Basic Industries Corp., (SABIC) the world’s biggest petrochemicals maker, plans to cut about 1,050 positions and close some assets in Europe as the company responds to diminished demand. Saudi Basic Industries, also known as Sabic, has started talks with works councils and trade unions on the plan, it said in a statement today. The … Continue reading
US / Jobless claims broadly in line with monthly job gains of more than 150,000
The number of Americans filing new claims for unemployment benefits rose slightly last week, allaying fears of a major setback in the labor market recovery. Initial claims for state unemployment benefits increased 4,000 to a seasonally adjusted 352,000 the Labor Department said on Thursday. The prior week’s number was revised to show 2,000 more applications … Continue reading
Canada / Number on Employment Insurance (EI) benefits was virtually unchanged
Following three consecutive months of decline, the number of people receiving regular Employment Insurance (EI) benefits was virtually unchanged in February, at 528,900. Compared with a year earlier, the number of beneficiaries was down 7.4%. A number of provinces had fewer beneficiaries in February, with the largest percentage decreases in Prince Edward Island, Manitoba and Saskatchewan. British … Continue reading
Aviva / To axe 2,000 jobs
Insurance giant Aviva is planning to axe around 2,000 jobs from its UK, European and Asian workforce under cost-cutting plans. The Norwich-based insurance group also announced that from next year, redundancy pay in the UK will be halved from four weeks per year of service to two. Aviva said the job reductions were part of … Continue reading
India / Unskilled, unemployed and angry
India’s key to future success — its youth — is a ticking time bomb. It is a growing mass of largely undernourished, undereducated, unemployable young people who aspire for a better life but don’t have the means to get there. Why? Because they aren’t qualified for the job market, and even if they are, jobs … Continue reading
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