Job Market Monitor
In the News
Germany / Vodafone to cut 500 jobs
Vodafone will cut 500 jobs in Germany, the company said, as the group adjusts to harsher competition and lower fees in Europe’s largest economy. “We have started a two-year program,” a spokesman said, confirming reports in the Frankfurter Allgemeine Zeitung and Rheinische Post. The company aims to shift some operations to Romania and India, as … Continue reading
Greece / More civil servants to be retrenched
GREECE cleared an important hurdle in its drive to receive its next batch of bailout loans after international debt inspectors said yesterday that they had reached an agreement over the country’s economic reforms, including the firing of thousands of civil servants. The review by delegates from the International Monetary Fund (IMF), European Commission and European … Continue reading
India / Minimum wages increase
The Delhi Government has decided to implement the revised rates of minimum wages for unskilled, semi-skilled and skilled categories in all scheduled employments, Labour Minister A.K. Walia said on Monday. The new rates, which have been worked out after adjustment of dearness allowances, have come into effect from April 1, 2013 and will extend to … Continue reading
Germany / Gender Gap / Legally binding quotas would be imposed
The German Chancellor Angela Merkel’s party, the Christian Democrats (CDU), will adopt a manifesto commitment to impose a 30pc female quota on the boards of listed firms, from 2020. The Bundestag is due to vote on Thursday on an opposition-backed proposal for quotas, which had provoked a deep split in the centre-right governing coalition. Women … Continue reading
The global economic recovery remains stuck below takeoff speed finds Brookings
The global economic recovery remains stuck below takeoff speed, unable to achieve liftoff and facing the risk of stalling. Half-hearted fiscal austerity measures are proving to be a drag on growth, and monetary policy continues to shoulder the burden of limiting downside risks. The Brookings-FT TIGER index shows that growth momentum remains weak in nearly … Continue reading
PVH / To cut 900-1000 jobs (Calvin Klein and Tommy Hilfiger brands)
Clothing-maker PVH Corp (PVH.N) estimates that it will cut between 900 and 1000 jobs and close a number of facilities related to its acquisition of the Warnaco Group Inc. The company, which owns and markets Calvin Klein and Tommy Hilfiger brands, said it did not yet have an estimate of the charges it would incur … Continue reading
Middle Class Expands In Developing World
“The meek shall inherit the earth” — that seems to be the latest message from the United Nations Development Program. Their 2013 Human Development Report chronicles the recent, rapid expansion of the middle class in the developing world. It also predicts that over the next two decades growth in the so-called “Global South” will dramatically … Continue reading
US / Younger Generations Lag Parents in Building Wealth
A new study from the Urban Institute finds that Younger Generations up to roughly age 40 have accrued less wealth than their parents did at the same age, even as the average wealth of Americans has doubled over the last quarter-century. Because wealth compounds over long periods of time — a dollar saved 10 years … Continue reading
Greece / Long-term unemployment soars: More than six out of every 10 jobless people have been out of work for over a year
More than six out of every 10 jobless people in Greece have been out of work for over a year, according to Hellenic Statistical Authority (ELSTAT) data published on Thursday. Fourth-quarter figures for 2012 put the unemployment rate at 26 percent, from 24.8 percent in the previous quarter and 20.7 percent a year earlier. The … Continue reading
Algeria / Thousands protest against unemployment
Thousands of protesters have rallied in central Algeria over a lack of jobs and corruption by government officials, local media has reported. Nearly 10,000 people gathered in the central square of the desert town of Ouargla on Thursday, chanting “the people want the downfall of corruption” and anti-government slogans. The demonstrators claim the government is … Continue reading
South Africa / Massive crowd for 900 cleaning jobs
The plight of the unemployed in the city and around the country was highlighted yesterday when hundreds of job hunters flocked to the City Hall in the hope of landing one of 900 cleaning jobs. Since the beginning of the week, people have been queuing at the office of a private cleaning company in Paul … Continue reading
China / What’s going on in its labor markets
Understanding unemployment and wage growth are crucial for understanding developments in the world’s second largest economy, not to mention the future price of everything from Nike sneakers to Apple iPhones. The official data is improving, with new information on migrant worker and private sector wages. But it remains scarce and in some cases unreliable, especially … Continue reading
Keystone XL / Only Canada would profit says President Obama
President Obama told a group of House Republicans at a closed-door meeting on Wednesday that the long-delayed Keystone XL pipeline won’t profit anyone but Canada. Rep. Lee Terry, R-Neb., told the Associated Press that Obama said the benefits of the project have been overstated because many of the jobs created would be temporary, and much … Continue reading
Taco Bell / 15,000 New Employees Last Year
Taco Bell added 15,000 employees last year, company chief executive Greg Creed told the Daily Beast, largely on one new product. Creed attributes the success to Doritos Locos Tacos, which the company rolled out in March, 2012 and was the “biggest launch in Taco Bell history,” he told the Beast. Throughout 2012, the 170-calorie taco, whose … Continue reading
Canada / Federal budget to target mismatches
Fixing labour shortages and enhancing the skills of workers will be the centrepieces of next week’s federal budget. But the government also recognizes that serious progress on matching skills with job openings will require close co-operation with provincial governments and the private sector. Businesses say labour shortages are also a top concern, and they want … Continue reading
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