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In the News
Ireland | Fidelity Investments to create 200 new jobs
Financial services giant Fidelity Investments is to create 200 new jobs in Dublin and Galway involving a diverse mix of technology, back office operations and enterprise services skills. The IDA Ireland-backed investment will see new employees – ranging from entry-level to management positions – join highly integrated global teams providing finance, treasury, HR and end-user … Continue reading
SAS | To cut nearly 6,000 jobs
Loss-making airline SAS will shed nearly 6,000 staff through cuts and asset sales to secure loans from banks and Nordic governments to help it survive a global downturn and fierce competition. SAS (SAS.ST), one of the European flag-carriers being squeezed by discount carriers such as Ryanair (RYA.I) and Norwegian (NWC.OL), has not made a full-year … Continue reading
Japan | Economy shrinks an annualized rate of 3.5 pc
Japan’s economy shrank in the September quarter for the first time since last year, adding to signs that slowing global growth and tensions with China are nudging the world’s third-largest economy into recession. The 0.9 percent fall in GDP was in line with expectations, although a decline in capital expenditure was much steeper than forecast. … Continue reading
(UPDATE) US Presidential Election – The Day After ? Planned layoffs jump to five-month high in Oct
The number of planned layoffs by firms jumped 41.1 percent in October to the highest level in five months, although the number includes more than 10,000 jobs in U.S.-owned auto plants in Europe, a report said on Thursday. Employers announced 47,724 planned job cuts last month, up from September’s 33,816, according to the report from … Continue reading
France | Employment | ‘Buy French’ Campaign
French consumers are being urged to choose products made in France as a patriotic response to the country’s economic travails. As part of a strategy to cut imports and boost national industry, the government is encouraging shoppers to read the label before they buy. “ ‘Made in France’ has never been so fashionable,” according to … Continue reading
Singapore | Working age population to contract by over 330,000
“The world’s working-age population will increase by over a billion people over the next 20 years, but all growth will come in developing economies while at the same time the developed world will see its workforce shrink and age. In Singapore, the working age population will fall by 338,000 people by 2030.” writes Chris Mead … Continue reading
OECD | Balance of economic power to shift dramatically over the next half century: China Will Overgrow United States
The balance of economic power is expected to shift dramatically over the next half century, with fast-growing emerging-market economies accounting for an ever-increasing share of global output, according to a new OECD report. Divergent long-term growth patterns lead to radical shifts in the relative size of economies. The United States is expected to cede its … Continue reading
India | Will it be able to create enough jobs?
550 million Indians are 25 years and below, all ready or getting ready to join the workforce. But is India creating enough jobs? Is our education system and industry geared for the demographic explosion, which if not channeled right, could become a demographic disaster. Experts Sudhakar Balakrishnan, MD and CEO at Adecco India, Sanjay Pandit, … Continue reading
TMX | To cut 100 jobs
TMX Group Ltd. plans to cut 100 jobs over the next 12 months as part of its integration of a clearing house and rival exchange it acquired as part of a takeover by a group of Canadian financial services players. The stock exchange operator’s president and chief executive, Thomas Kloet, announced the job cuts on … Continue reading
Apprenticeship | Skills Gap in Advanced Manufacturing
Too many American workers lack the specialized skills needed to secure a job, but they can’t gain those skills without a job. This catch-22 has enveloped American employers and job seekers. Even though the unemployment rate stood at 7.8 percent in September, about 600,000 jobs remain unfilled “due to a lack of qualified candidates,” according … Continue reading
US | Fiscal Cliff | 2 million jobless Americans could lose UI
Congress last lengthened the deadline to file for benefits in February, but lawmakers also restructured the program at the time. The maximum number of weeks the jobless can collect unemployment benefits was reduced to 73 weeks. And in all states save New York, the jobless are no longer eligible for a separate federal extended benefits … Continue reading
US | Job Gap is 9 million
The labor market has added nearly 5 million jobs since the post-Great Recession low in Feb. 2010. Because of the historic job loss of the Great Recession, however, the labor market still has 3.8 million fewer jobs than it had before the recession began in Dec. 2007. Furthermore, because the potential labor force grows as … Continue reading
Norway | Oil and oil-service companies ‘racist’ ?
A leading Norwegian headhunter who recruits engineers and other skilled workers for Norwegian oil and oil-service companies says he’s encountered a “shocking” degree of what he calls blatant “racism” among prospective Norwegian employers. Even those in dire need of engineers and other specialists routinely turn down top foreign job candidates. They want Norwegians instead. A … Continue reading
Taiwan | Skilled worker residency restrictions revised
The Executive Yuan yesterday passed an amendment draft to the Immigration Act, thereby revising certain residency restrictions for skilled foreign workers. The amendment also canceled the age limitation for Taiwanese who were born overseas to apply for household registration in Taiwan, in the hopes of attracting more Taiwanese to come back and contribute to the … Continue reading
Canada | Some 40 pc of Canadian university graduates aged 25 to 29 are employed in low-skill jobs
Canada’s skills gap has been brought into increasing focus by the large numbers of unfilled jobs which coexists with high youth unemployment. Last summer, a report commissioned by the Canadian Council of Chief Executives stated that Canada is falling behind in the global skills race. The answer, according to many university presidents, is more money … Continue reading
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