In the News

Originally posted on owenzidar:
Brad Plumer has a post today on rough projections that we will not reach full employment until 2022. Here are four ways that failing to address the unemployment problem today could lead to long-lasting (and potentially permanent) reductions in human capital, employment, and social welfare: Unemployed workers lose opportunity to maintain and update skills If…

Guyana / Minimum wage overdue, says FITUG

The Federation of Independent Trade Unions of Guyana (FITUG), representing some 30,000 workers, has welcomed the government’s “somewhat overdue” plans to set a national wage. Choosen excerpts by Job Market Monitor from via Minimum wage overdue, says FITUG – Stabroek News – Georgetown, Guyana.

Lloyds / 38,000 jobs cut since HBOS rescue

The job toll at Lloyds Banking Group since the rescue of HBOS has reached 38,000 after another 940 cuts were announced. “This is a bleak start to the year for hard-working Lloyds employees and bad news for the UK economy on a day when the small fall in the numbers unemployed was supposed to be … Continue reading →

Commerzbank / To Cut 4,000 to 6,000 Jobs

Commerzbank AG (CBK), Germany’s second- biggest bank, will cut 4,000 to 6,000 jobs over the next four years to reduce costs and meet its profit goals. The job reductions will apply to all units worldwide with the retail bank having “significant overcapacity,” according to an internal memo obtained by Bloomberg news, the contents of which … Continue reading →

Barclays / To Cut 2,000 Jobs

Barclays has launched a consultation with staff in its investment bank whose jobs are at risk following a strategic review by new Chief Executive Antony Jenkins, the bank said on Tuesday. Jenkins, who took over in August having previously run Barclays’ retail operations, is revamping the bank following the departure of Bob Diamond when the … Continue reading →

Boston Scientific to cut up to 1,000 jobs

Boston Scientific Corp., the Natick medical device maker that already has eliminated more than 1,000 jobs over the past three years, said Tuesday it plans to cut another 900 to 1,000 jobs worldwide. The company did not specify where the job cuts would take place, but new chief executive Mike Mahoney said in an interview … Continue reading →

Texas / Amazon.com hiring 1,000

Amazon.com Inc. (US:amzn) said Wednesday it’ll hire 1,000 workers as part of its plan to open three new fulfillment centers in Texas. The sites will be in the cities of Coppell, Haslet and Schertz. Amazon.com shares jumped 8.5% after the onlnie retailer reported weaker-than-expected fourth-quarter sales but strong operating profit. Choosen excerpts by Job Market … Continue reading →

Air Canada’s Rouge airline: hiring 150 flight attendants

As Air Canada’s discount carrier Rouge gets set to take off in July, hiring is getting under way for 150 flight attendant jobs based in Toronto. “The most important quality that we’re looking for is people who like being around people,” said Renee Smith-Valade, head of customer experience. “And people who enjoy children and engaging … Continue reading →

Germany / Hewlett-Packard lays off 850 employees

Hewlett-Packard Co. HPQ -0.15% will close its site in Ruesselsheim, Germany, by the end of October and layoff about 850 employees–or 8.5% of its workforce in the country–as part of a previously announced broader restructuring effort. “The changes we are announcing in Germany today are a necessary part of our commitment to deliver our long-term … Continue reading →

US / Job growth needs to be at 284,984 a month to get to 5 percent unemployment within two years

Getting the economy to 5 percent unemployment within two years — a return to the rate that prevailed when the recession began — would require job growth of closer to 284,984 a month. There are now 12.3 million workers looking for work who cannot find it. The tally of those who are underemployed — that … Continue reading →

Canada / Sears lays off 700 workers

Sears Canada announced Thursday it is laying off 700 workers across the country as part of a move to “right-size” the company and focus on restructuring its business. The national retailer says 360 people are being laid off from its department stores and about 300 from its distribution centres. The remaining workers are being let … Continue reading →

Euro Zone / Youth unemployment rose by 303 000 in a year, reaching 57.6% in Greece

The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in December 2012, stable compared with November. The EU27 unemployment rate was 10.7%, also stable compared with November. In both zones, rates have risen markedly compared with December 2011, when they were 10.7% and 10.0% respectively. These figures are published by Eurostat, the statistical office of the European Union. Eurostat … Continue reading →

US / The number of American working was up by only 17,000

The headline ” Total nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9 percent”, the U.S. Bureau of Labor Statistics reported today. But the number of those working (SA) was up by only 17,000, after last month 28,000. This is by far not enough for a dent in the … Continue reading →

Skills Gap / Transaction banking: a substantial talent shortfall

The appeal of the transaction services industry for new talent has never been higher, as high-impact, pejoratively dubbed ‘casino’ investment banking job opportunities vanish. Technologic nous and an ability to navigate new client demands – amid market and regulatory shifts – are key skills that budding transaction bankers must develop to make their names in … Continue reading →

Japan / Jobs In Manufacturing Sector To 50-Year Low

Employment in Japan’s once-mighty manufacturing sector has fallen below 10 million for the first time in five decades, as a new government vows to stoke the struggling economy. Official employment data released Friday showed the number of workers in Japanese industry, which fuelled the country’s stratospheric rise from the ashes of World War II, slipped … Continue reading →