Job Market Monitor
In the News
Race Matters – Black unemployment rate:14.4% -vs- white at 7.4%
As the overall U.S. unemployment rate stayed at 8.2% in June, the rate among black Americans rose nearly a full percentage point. The reason for the increase appears to have been a rise in the percentage of African-Americans looking for a job, rather than job losses. The unemployment rate for blacks rose to 14.4% from … Continue reading
West Palm Beach – FTI Consultants announces 115 layoffs
Economic concerns in the U.S. and abroad has led to 115 layoffs and office realignment at FTI Consulting, the company announced, which is a 3 percent downsizing of the company’s workforce. FTI Consulting (NYSE: FCN) said in a news release Friday that it would consolidate office space at six leased locations. The employees were told … Continue reading
Vietnam – Vocational training – Students just thinking of universities and colleges
Do The Tai of southern coastal Vung Tau City promptly pulls out a list showing his university and college preferences when asked about the ongoing university entrance examinations. What if, just in case, he does not make it? What about vocational schools where he can pick up valuable skills? Tai has not even thought about … Continue reading
Germany – Mass layoffs at the Neckermann
The Neckermann mail order company will close down the whole of its central warehouse in Frankfurt and its textile business at the end of 2012. As already announced in late April, the mail order company, founded in 1950, intends to cut 1,380 of its 2,100 jobs in Frankfurt by the end of the year. Eight … Continue reading
The Trouble With Apprenticeship – And Some Success Stories
HR magazine’s first HR Lunchtime Debate, brought to you in Réapprentissage conjunction with Commsight (an Opinion Matters service), is an online TV show that brings together experts to discuss the whys and wherefores of setting up an apprenticeship scheme. During the live debate you will hear from Jason Holt, CEO of the Holts Group, who led the … Continue reading
Poland – Youth Unemployment
Even though Poland does not belong to the group of countries where the global crisis has had an extensively negative impact on the economy in statistical terms, the main negative phenomena concerning its youth include the rise of unemployment, the growth of precarious employment and in-work poverty. This situation should be attributed to an already … Continue reading
UK double-dip recession: been there before
With Britain now in a double-dip recession for the first time since the turbulent 1970s, Panorama’s Adam Shaw offers an analysis of the nation’s ability to revive its finances and asks if the poor are increasingly being left behind. We have indeed been here before. The last time we found ourselves in such dire economic … Continue reading
Job Market Recovery – Great Recession vs Great Depression
( By Bill McBride) – The causes of the Great Recession were similar to the Great Depression – as opposed to most post war recessions that were caused by Fed tightening to slow inflation – and I’m frequently asked if we could compare the percent job losses during the two periods. Unfortunately there is very little data … Continue reading
US – Unemployment benefits – $14 billion overpaid
Don’t spend that unemployment check too fast. The government might ask you to pay it back. Overpayments are a rampant problem in the unemployment insurance system. The federal government and states overpaid an estimated $14 billion in benefits in fiscal 2011, or roughly 11% of all the jobless benefits paid out, according to reports from … Continue reading
Duration Unemployment in US
In June of 1983, the percentage of those unemployed 27 weeks or longer peaked at 26%. That is the only month prior to April of 2009 above the 25% mark. Starting April of 2009, every month has been above the 25% mark. Starting July of 2009, every month has been above the 30% mark. Starting … Continue reading
Canada Public Sector Jobs A Grotwh Factor Contrary To US
It’s no surprise that Canada’s economy is still managing to grind out jobs, although at a much slower space than earlier in the year, and that its closest neighbour and biggest trading partner continues to struggle to match that growth. But what is surprising is how Canada’s public sector carried the employment load last month, … Continue reading
Best Buy – 2,400 layoffs
Best Buy is laying off 2,400 employees chainwide, a company spokesman said Friday. There was no word about whether Kansas City-area employees would be affected, but no additional stores will close as part of the layoffs. Bruce Hight, a spokesman for Best Buy (NYSE: BBY), said the layoffs will affect about 600 employees of Geek Squad, … Continue reading
How many more jobs would we have if the public sector hadn’t been shedding jobs for the last three years?
The most glaring weakness in the current recovery relative to previous ones is the unprecedented public-sector job loss seen over the last three years. The figure below shows that private sector job growth in the current recovery is close to that of the recovery following the early 1990s recession and is substantially stronger than the … Continue reading
Report – Too Much to Lose: Understanding and supporting Britain’s older workers
The report Too Much to Lose: Understanding and supporting Britain’s older workers by Matthew Tinsley published on policyexchange.org.uk examines the position of over-50s in the UK labour market. It outlines the large barriers to work that they face and highlights that the majority of these barriers remain unaddressed by government support. It argues that without reforms to address these issues, … Continue reading
IMF – Global Economic Outlook More Worrisome
Delivering the Nikkei Symposium Keynote Speech in Tokyo, Lagarde said, “In the IMF’s updated assessment of the world economy, to be released ten days from now, the global growth outlook will be somewhat less than we anticipated just three months ago.” “And even that lower projection will depend on the right policy actions being taken,” … Continue reading
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