Banks, insurers, asset managers and other finance firms cut 25,000 jobs in the final quarter of 2012, with banking seeing the deepest drop, the survey of 94 companies showed. The cuts will means about 132,000 jobs have been lost in the sector since the downturn began in 2008, when it employed around 1 million people, … Continue reading
The International Labor Comparisons by the BLS The International Labor Comparisons (ILC) program adjusts data to a common conceptual framework because direct comparisons of national statistics across countries can be misleading due to differing concepts and methods. ILC data are used to assess U.S. economic and labor market performance relative to that of other countries and to … Continue reading
What happens to people who lose their job in mass redundancies in Switzerland? According to a Lausanne University study, most people find another position quickly – unless you are in the last phase of your working life. Switzerland has one of the lowest unemployment rates in Europe – 2.9 per cent on average in 2012. … Continue reading
Youth guarantees Programmes that guarantee young people will get a job, education or training have shown good results in a number of countries. In Finland, the success rate of the youth guarantee scheme is estimated at more than 80 per cent. A registered youth has to be offered a job, academic education, vocational training, or … Continue reading
Analysis of the 2006 census found certified male apprentices had earnings similar to men with a community college education, according to two papers to be published in the Canadian Labour Market and Skills Researcher Network monthly publication. The first study, by University of Toronto professors Morley Gunderson and Harry Krashinsky, found male apprentices earn 24 … Continue reading
Rumors of a rising Chinese middle class have been touted widely. However, the evidence supporting these claims remains conflicting at best. The “middle-class” jobs outsourced from the United States have not necessarily translated to “middle-class” jobs in developing nations, especially in China. Defining the middle class has always been a difficult venture, but on several … Continue reading
Convergys plans to hire 1,000 new full-time customer service representatives at its Pharr call center, nearly quadrupling the number of employees there. The call center company, which fields customer service calls for clients including DirecTV, Macy’s and Cigna, a health insurance company, will host a job fair Tuesday for the positions. About 350 employees now … Continue reading
The vast fortunes made by the world’s richest 100 billionaires is driving up inequality and hindering the world’s ability to tackle poverty, according to Oxfam. The charity said the accumulation of wealth and income on an unprecedented scale, often at the expense of secure jobs and decent wages for the poorest, undermined the ability of … Continue reading
The Bali provincial administration plans to set minimum wages on the island based on the business sector by the end of this year, saying that the policy would ensure better livelihoods for workers on the island. “The provincial administration is willing to issue this regulation by the end of 2013 and therefore it can be … Continue reading
RUPERT Murdoch’s Sky has announced plans to invest €1bn in the Irish economy in the next five years with cash earmarked for 500 new jobs by July as well as investment into its retail network. Most critically for Irish business, a new broadband service will be introduced, which is set to increase competition in the … Continue reading
BOLD policies to close the gap between black and white Australia in employment are working, with new data revealing that employment growth for Aborigines has increased dramatically, mainly in remote areas via the private sector. A paper to be released by the Centre for Aboriginal Economic Policy Research at the Australian National University offers the … Continue reading
Collapsed DVD and games rental firm Blockbuster is to close 129 of its 528 stores in the coming weeks and make 760 of its 4,190 employees redundant , its administrator confirmed today. Thirty-one stores have already been put on notice of closure with a number of closing-down promotions announced. Lee Manning, of administrator Deloitte, said: … Continue reading
China’s working-age population shrank in 2012, marking the beginning of a trend that will accelerate over the next two decades and have profound implications for the world’s second-largest economy. By the end of December China’s population aged between 15 and 59 was 937.27 m, a decrease of 3.45m from 2011, according to figures released by … Continue reading
ArcelorMittal, expects output at its Kazakhstan mill, which relied on Iran for a third of its business before Western sanctions were imposed, to fall again in 2013 and will shed about 2,000 jobs to cut costs. Shipments at the world’s largest steelmaker’s Temirtau site dropped to 2.8 million tonnes last year from 3.2 million in … Continue reading
An extra 650 jobs cuts will not affect front line services according to the leader of Worcestershire County Council. The council has said the jobs will go by 2017, in addition to 850 redundancies it has already announced. Council leader Adrian Hardman said it would be “principally backroom jobs” that will go at County Hall … Continue reading