Job Market Monitor
In the News
North Korea guest workers in China
China is quietly inviting tens of thousands of North Korean guest workers into the country in a deal that will provide a cash infusion to help prop up a teetering regime with little more to export than the drudgery of a desperately poor population. The deal, which has not been publicly announced by either Beijing … Continue reading
Finance – Midlevel Jobs Going Out of Wall Street
New York’s biggest investment houses are shifting jobs out of the area and expanding in cheaper locales in the United States, threatening the vast middle tier of positions that form the backbone of employment on Wall Street. The shift comes even as banks consider deeper staff cuts here, which could undermine the state and city … Continue reading
Outsourcing: What’s the impact?
…The debate over outsourcing has been morphing, and today there are growing numbers of people who think that what started as a sensible, globalized extension of sending some work outside a firm to specialized companies may in fact be creating long-term structural unemployment in the United States, hollowing out entire industries. Rearranging where and how … Continue reading
Euro Zone – Factories preparing for worse to come with more job cuts
Euro zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest rate in two-and-a-half years. Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) was unchanged at 45.1 in June, above the preliminary reading of 44.8 and … Continue reading
Airbus workers in France seek jobs guarantee – New Alabama plant should create about 2,500 construction jobs
Airbus should create about 2,500 construction jobs to build a new US$600 million airliner assembly plant in Mobile, Alabama, and 400 to 500 full-time jobs once production starts in 2017, a source familiar with the plans said on Saturday. The European planemaker, owned by EADS, is poised to announce plans to build the plant for … Continue reading
Canada – Skilled Workers Immigration: brakes on
Federal Immigration Minister Jason Kenney says it’s time to hit the “reset button” and temporarily put the brakes on new applications under two programs popular with skilled workers wanting to come to Canada from abroad. Kenney told a business audience Thursday that the government is placing a six-month moratorium on the Federal Skilled Worker Program … Continue reading
Employers attitudes to older workers are changing along with their desire to remain in the workforce
When the Treasury published its first Intergenerational Report (IGR) in May 2002, it alerted governments to the looming problem of an ageing population. A smaller proportion of the population would be working to support a growing proportion in retirement and relying on government services, notably health care, and income support. It was a fiscal disaster … Continue reading
US – Corporate Profits decreased $6.4 billion in the first quarter, a very bad news for private sector non-farm employment
Profits from current production (corporate profits with inventory valuation and capital consumption adjustments) , in contrast to an increase of $16.8 billion in the fourth quarter. Current-production cash flow (net cash flow with inventory valuation adjustment) — the internal funds available to corporations for investment — decreased $123.9 billion in the first quarter, in contrast … Continue reading
UK – Higher Education – The proportion of unemployed full-time first degree leavers reaches a high of 10% in 2008/09
In 2010/11 there were 224,045 full-time first degree graduates whose destinations were known, compared to 213,390 in 2009/10. In 2010/11, 63% (140,085) were in employment only and 9% (20,620) were assumed to be unemployed both showing no change since 2009/10. (See Table 1 and Chart 1.) In 2010/11, of the full-time first degree graduates whose … Continue reading
UK – Skills Gap: Recruiters search abroad
A skills gap in the UK is driving demand for immigration professionals to source staff from abroad. A focus group study of more than 50 immigration professionals working across the sector commissioned by recruiter JAM revealed that Asia is the most popular talent hunting ground for UK organisations. Skills shortages in the UK are the … Continue reading
Unemployment and Older Workers Drive Competition in Labor Market
About 74 percent of Americans say they plan to work past age 65, according to a May study by economists Jay Bryson and Sarah Watt of Wells Fargo Securities LLC in Charlotte, North Carolina. Thirty-nine percent said they need to earn to make ends meet or maintain their lifestyle, and 35 percent wanted to stay … Continue reading
25% international students in OECD region are from China or India
Individuals from China and India make up one-fourth of total international students in the OECD region, a grouping of mostly developed nations. These students are also an important source of future labour migration, Paris-based think tank OECD said today. “The share of migrants from Asia among immigrants to OECD countries rose from 27 per cent … Continue reading
US – Stop the vocational education failure
Many American adolescents don’t want to go to college. They reject as boring and aggravating the Advanced Placement, International Baccalaureate and other college-level courses offered to them in high school. Yet, they need reading, writing, math and time-management skills for good jobs or trade school slots when they graduate. How can they be persuaded to … Continue reading
Chicago – Federal Savings Bank to create 400 jobs
The Federal Savings Bank, a Kansas-based home lender bought last year by a pair of Chicago brothers in the mortgage banking business, is opening a national home loan center in the West Loop that it says will create 400 jobs over three years. The bank said it’s getting $18 million in tax breaks over 10 … Continue reading
Canada – 5,000 public servants learn their jobs are at risk – Politics – CBC News
More than 5,000 federal public servants were told today that their jobs are at risk of being eliminated and the unions say there is no doubt services to Canadians will be affected as a result. Human Resources and Skills Development Canada is the hardest hit in the latest announcements, with a total of 2,055 employees … Continue reading
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