In the News

India | Telecom | Enormous Potential Job Losses

The potential job losses in the Indian telecom industry are “enormous” in the wake of 2G licence cancellations and many of the affected entities have started trimming their workforce, according to HR experts. “Most of the companies whose 2G licences were cancelled are reducing their workforce. This is happening at all levels Only people at … Continue reading →

Amazing Numbers About Today’s Job Market

Morgan House indentifies 50 Amazing Numbers About Today’s Economy on fool.com. Here is a sample of some of those related to the Job Market, in no particular order. 49. According to economist Tyler Cowen, “Thirty years ago, college graduates made 40 percent more than high school graduates, but now the gap is about 83 percent.” 48. Of all … Continue reading →

Which OECD country is the busiest ?

Mexico is 1st and Canada is 4th. U.S. is below average. This is coming from: Who’s busiest: working hours and household chores across OECD published on OECD site. The overall picture “Mexicans work longer days than anyone else in OECD countries, devoting 10 hours to paid and unpaid work, such as cleaning or cooking at … Continue reading →

Older workers | Productivity : Average age-productivity profile of individual workers is increasing until age 65

“Older workers are often thought to be less productive” write Axel Börsch-Supan and Matthias Weiss in PRODUCTIVITY AND AGE: EVIDENCE FROM WORK TEAMS AT THE ASSEMBLY LINE published on mea.uni-mannheim.de.  “This impression is widespread and implicit in many discussions about aging, even in our economic textbooks. Often regarded as an established fact, it has profound implications for personnel … Continue reading →

U.S. | Businesses add a disappointing 120,000 jobs in March

U.S.  | BLS Commissioner’s Statement on the Employment Situation  (Adapted excerpts by Lab Market Monitor) Nonfarm payroll employment rose by 120,000 in March, and the unemployment rate, at 8.2 percent, changed little. Over the prior 3 months, nonfarm job growth had averaged 246,000 per month. Since a recent low point in February 2010, payroll employment has … Continue reading →

UK | Capita to cut up to 400 jobs

Outsourcing firm Capita is set to cut up to 400 jobs across the UK. Unite said that as part of the company’s proposal, Capita would also offshore a significant number of staff to India. The trade union said it may consider an industrial action ballot, in response to the moves. The staff affected are understood … Continue reading →

Australia | Metcash cuts 478 jobs

METCASH, the grocery wholesaler that owns the IGA and Franklins chains, will restructure its business, cut 478 jobs and incur one-off charges to position the company for ongoing difficult trading conditions… Source: Read more @ Metcash cuts 478 jobs in sweeping restructure | The Australian.

3,200 jobs saved for Britain’s GAME

A deal was struck on Sunday to save British video games retailer GAME, which was taken into administration Monday, and preserve nearly 3,200 jobs. OpCapita, which specialises in turning around ailing High Street stores, has bought 333 shops for an undisclosed fee, administrators PricewaterhouseCoopers (PwC) said. It is believed the turn-around investment firm paid a … Continue reading →

India | Defence Manufacturing Sector can create 1 million new Jobs

It is expected that India would become the third largest defence spender after the US and China by 2014. Equipment spending by MoD increased at 15% – 20% over the last five years, and is expected to continue growing at least in the mid-term. With several large equipment and modernization programs in the pipeline, analysts … Continue reading →

Ontario | Toyota adds 400 more jobs

Toyota announced Wednesday it’s increasing production by 50,000 vehicles and adding 400 jobs at its Woodstock, Ont., assembly plant to meet growing demand for the RAV4. The automaker may also be looking for a North American home for some of its Japanese-based production because the value of the yen remains high… Read More @ Toyota adds … Continue reading →

News | Jobless Claims Reach New Four-Year Low

“New claims for unemployment benefits fell to a new four-year low in the United States last week, according to a government report. A separate report confirmed the American economy expanded at an annual rate of 3 percent late last year” reports the NYT. ______________________________________________________ Unemployment Insurance Weekly Claims Report (Excerpts from the Press Release) SEASONALLY ADJUSTED … Continue reading →

Hasbro | 170 jobs lost, mostly in U.S. and Canada

Reuters – Hasbro Inc (HAS.O) is cutting about 170 jobs as the second-largest U.S. toy company tries to recover from sluggish sales during the holiday season. Most of the jobs are in the United States and Canada, company spokesman Wayne Charness said, including “about 55” in Rhode Island where it is based. “These moves were … Continue reading →

Originally posted on Euro Area Debt Crisis by Megan Greene:
Last week I wrote about the difficulty of doing business in Greece, and the role that the government plays in perpetuating the bureaucracy. Does all of this mean that Greece is doomed? Not necessarily. Returning to the drachma would be ignominious for Greece, but it…