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Europe’s lost generation / Youth unemployment exceeds 60 percent in Greece, is above 50 percent in Spain and tops 40 percent in Portugal
Children across Europe are being driven into poverty by harsh government austerity and youth unemployment is soaring, threatening to create “lost generations” that could fire up a new continental crisis. Global charity Caritas said on Thursday that around three out of every 10 children in Greece, Ireland, Portugal, Italy and Spain are in or have … Continue reading
Jobless Americans in their 50s and 60s apply their talent and experience on toughest problems
The plight of jobless Americans in their 50s and 60s is well documented, and it deserves attention. But there’s a different, more optimistic story unfolding. A small army of baby boomers is hitting midlife eager to apply their talent and experience to solving some of our country’s — and the world’s — toughest problems, from … Continue reading
Philippines / A mobile app for vocational education
The Technical Education and Skills Development Authority (TESDA), the Philippines has launched a mobile app to make available information on technical vocational education and training to the public. A TESDA app is a free application available for download through Google’s Play for Android enabled devices. The iOS version of the same is pending for Apple’s approval. “Being … Continue reading
Cambodia / Garment Workers / Minimum wage may rise
The Cambodia’s Ministry of Labour has scheduled a meeting on February 26 with representatives of various unions to discuss the new minimum wage for garment workers in the country. However, the Ministry expects the various workers’ unions to agree on what the new wage should be before they attend the meeting. At present, the union … Continue reading
UK / JP Morgan cuts nearly 200 jobs
The company told the BBC its staff will continue to work at its offices in Lydiard Fields for another year before its closure in the town. Swindon South MP Robert Buckland said he would be seeking more detail about the planned job losses. JP Morgan added that it was still working out what relocation packages … Continue reading
The Ageing Population: no historical evidence of impact on productivity or creativity
Complaints about the graying of the population sometimes imply an inevitable loss of economic dynamism. But I know of no historical evidence that either the productivity or the creativity of a society is determined by the age structure of its population. The interaction between demographic and economic change is so much more complex than the … Continue reading
US / The moment of truth for the job market too
There’s a growing meme that the market and the economy are about to have a date with destiny. The thinking is this: Markets have surged all year like there’s not a care in the world. On the other hand, the economy has already been buffeted by one major headwind (the end of the payroll tax … Continue reading
US / Orphan Clauses / State workers face smaller pension benefits
For public sector workers across the country, the difference of a couple of years, months or even days when starting on the job could mean the loss of hundreds of thousands of dollars in retirement benefits. Facing ballooning bills and strained budgets, 45 states have either cut pension benefits or increased mandatory employee retirement plan … Continue reading
Oman / Minimum wage raised and the number of foreign workers restricted
Oman’s parliament, the Shura Council, approved a much higher minimum wage and curbs on the employment of foreigners on Saturday, aiming to prevent joblessness again becoming a source of anger for Omani citizens. The cabinet proposed the moves last week in an attempt to spur private sector employment levels among Omanis after complaints about the … Continue reading
Lego / To cut 380 jobs in Denmark
Lego, the Danish maker of colourful toy bricks, said Tuesday it would cut 380 jobs at its main plant in Denmark by 2015 as it moves its packaging activities abroad to slash costs. “For some employees it will be natural departures. Other employees will be able to acquire new skills and find other positions within … Continue reading
ThyssenKrupp / 2,000 layoffs at its European steel division
German heavy industry giant ThyssenKrupp unveiled plans on Friday to axe more than seven percent of the workforce at its Steel Europe division to make the business more competitive. ThyssenKrupp said in a statement it would axe “more than 2,000 jobs” out a total workforce of 27,600 at its Steel Europe division in a €500-million … Continue reading
Lockheed Martin / 300 to 500 voluntary layoffs
Lockheed Martin Corp. announced a targeted, voluntary layoff program for midlevel employees working at the company’s Information Systems & Global Solutions unit. In a memo sent to employees on Jan. 31 and posted on career news website Dice.com, Patricia Lewis, Lockheed Martin’s vice president for human resources at the Information Systems and Global Solutions business … Continue reading
Hong Kong / Working Poors Live In Cages
Some 100,000 people in the former British colony live in what’s known as inadequate housing, according to the Society for Community Organization, a social welfare group. The category also includes apartments subdivided into tiny cubicles or filled with coffin-sized wood and metal sleeping compartments as well as rooftop shacks. They’re a grim counterpoint to the … Continue reading
US Jobs Recovery / Middle-aged women doing particularly poorly
SINCE the job market in the United States hit bottom more than three years ago, men have benefited from the recovery far more than woman have, with middle-aged women doing particularly poorly. From December 2009 through last month, the economy added 5.3 million jobs, according to the Labor Department’s monthly survey of households. Only 30 … Continue reading
Philippine / Tourism industry to generate 7 M new jobs
Seven million new jobs are expected to be generated from the booming tourism industry in the next years. Tourism Secretary Ramon Jimenez said people are expected to feel the impact of the growing tourism industry. “What is beautiful about tourism is that it has a trickle effect, every tourism activity generates new jobs,” he said. … Continue reading
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