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Canada / The poorest economic performance for Canada since the 2008-09 recession
Canada’s economy is facing a tough climb to reach any meaningful growth this year after recession-level growth in the last half of 2012. Output slipped back into reverse last month but still managed to eke out a gain for the final quarter of 2012 and end the year with total growth of 1.8% — down … Continue reading
HP’s restructuring / 15K layoffs to go
Hewlett-Packard (HP) CEO Meg Whitman said this week that the company has reached the halfway point in its restructuring, with 15,000 employees left to cut to meet its layoff target. HP last May announced plans to reduce its workforce by some 27,000 people out of a staff of 350,000. The company is using layoffs and … Continue reading
Logitech / Layoffs announced
In January Logitech CEO Bracken Darrell announced plans to take “decisive action,” including selling its Harmony remote division, to turn the company’s fortunes around — and today we’re seeing the first results of that. Logitech will lay off 140 people, or about 5 percent of its non-direct workforce, as part of an organizational shuffle aimed … Continue reading
US / DOL’s Layoffs Report Could Become Victim of Sequester
The “sequester” spending cuts could cause hundreds of thousands of layoffs across the U.S., economists say. But, in a twist, the cuts will also impede the government’s ability to count those layoffs. The Labor Department is planning to stop producing its monthly report on mass layoffs in the U.S. labor market if sequester begins as … Continue reading
There is no issue more important than Global Youth Unemployment
Last week, Secretary Kerry made his first speech as Secretary of State at the University of Virginia where he spoke about the importance of our foreign policy, especially for young people. He said “In countries across North Africa and the Middle East, the majority of people are younger than 30 years old. About half are … Continue reading
Euro area / Unemployment rate at 11.9% (EU27 at 10.8%)
The euro area (EA17) seasonally-adjusted unemployment rate was 11.9% in January 2013, up from 11.8% in December 2012. The EU271 unemployment rate was 10.8%, up from 10.7% in the previous month. In both zones, rates have risen markedly compared with January 2012, when they were 10.8% and 10.1% respectively. These figures are published by Eurostat, … Continue reading
UK / Is the graduate job market as bad as it seems?
For current undergraduates, prospects after university might seem dire. Certainly the statistics suggest uncomfortable truths: 24.8% of 21-year-old graduates are unemployed, approximately 83 graduates apply for every job, and nearly a million young people are out of work. Meanwhile, a recent report by the Prince’s Trust has warned that youth unemployment will lead a generation … Continue reading
US / The Great Wage Recession And The Great Jobs Recession : Two Charts
As bad as the current job recovery has been — and it’s by far the weakest since World War II — the recovery in wages has been far worse. Five years after the recession began in December 2007, total wages in the economy have yet to fully recover in real terms, Commerce Department data show. … Continue reading
Belgium / Caterpillar plans to cut 1,400 jobs
Caterpillar Inc (CAT.N), the world’s largest maker of construction equipment, plans to cut 1,400 jobs at a plant near Charleroi in Belgium due to high costs and the weak European economy, the group’s Belgian unit said on Thursday. The cuts will come at the Gosselies site just outside of Charleroi, one of the largest Caterpillar … Continue reading
Atlanta / Athenahealth to bring 500 jobs
A major healthcare software firm will expand in Atlanta, bringing 500 highly-paid jobs to the city in a deal that will help jump start redevelopment of the former City Hall East, a person with knowledge of the deal said. Massachusetts-based Athenahealth, a player in the growing industry of healthcare information technology, will become the lead … Continue reading
Chrysler / To create 1,250 jobs in Indiana plants
Chrysler Group LLC, the U.S. automaker majority owned by Italy’s Fiat (FIA.MI), will invest $374 million in four Indiana plants to support production of its more fuel-efficient eight- and nine-speed transmissions by the end of the year. The move will create up to 1,250 jobs in Indiana, including as many as 850 jobs at the … Continue reading
Germany / Elite Young Immigrants, The New Guest Workers
A new generation of immigrants is coming to Germany: Europe’s crisis refugees. They are young, well-educated and multilingual. Many feel that their prospects at home disappeared when the European financial system began to falter, followed by the collapse of domestic labor markets in a number of countries. They are now going to Germany, just as … Continue reading
Canada / The Canadian Experience Class Reaches Record Number of Immigrants
Canada’s fastest-growing immigration stream welcomed a record 9,353 newcomers in 2012, Citizenship, Immigration and Multiculturalism Minister Jason Kenney announced today. “The Canadian Experience Class (CEC) makes Canada more competitive in attracting and retaining the best and brightest individuals with the skills we need. These are people who have already demonstrated their ability to integrate into … Continue reading
US / Hispanics / Unemployment Rate Tops 17% in 5 States
The Hispanic unemployment rate at the end of 2012 in 13 states significantly exceeded the state rate, with the percentage of jobless Hispanics surpassing 17 percent in five states. Overall, the unemployment rates likely will remain high for whites, Latinos, and African-Americans through the year, according to projections by the Economic Policy Institute. The nationwide … Continue reading
Toronto / More than 200 high school teachers face layoffs
Hundreds of high school teachers could be laid off as the Toronto public board grapples with a $55-million deficit, according to a staffing report that also recommends cuts to secretaries and vice-principals. Last year, the Toronto District School Board axed 200 secondary teaching positions because of a drop in enrollment, and this year is recommending … Continue reading
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