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Royal Dutch Shell – To cut 6,500 jobs
Royal Dutch Shell said on Thursday that its profit fell sharply in the second quarter as a strong performance in marketing and refining failed to offset the brunt of lower oil and gas prices. The oil giant also said it would cut its capital investment and eliminate 6,500 jobs as the drop in oil and … Continue reading
Minimum Wage in US – The Tracker
There are 14 states that have changed their minimum-wage law since January 2014. Alaska, Arkansas, Connecticut, Delaware, Hawaii, Maryland, Massachusetts, Michigan, Minnesota, Nebraska, Rhode Island, South Dakota, Vermont, and West Virginia The effective minimum wage has increased in 26 states and D.C. since January 2014. Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Hawaii, Maryland, … Continue reading
Korea – Youth unemployment rate highest in 15 years
The nation’s youth unemployment reached the highest this year since 2000, raising serious concerns about the government’s labor policies especially for the country’s younger population, as well as the limited job security among young contract workers. The number of unemployed young Koreans, which stood at 330,000 back in 2013, rose to 380,000 last year, and … Continue reading
Vodafone Spain – To cut up to 1,300 jobs
The Spanish business of London-listed telecoms group Vodafone said on Tuesday it will cut up to 1,300 jobs as it trims its workforce following last year’s acquisition of the county’s largest cable operator Ono. Negotiations with employee representatives over the cuts will start on September 1, it said in a statement. Chosen excerpts by Job … Continue reading
Online Shops in China – Over 10 million jobs have been created in 2014
Over 10 million jobs have been created in 2014 by online shops in China, with over half of them run by enterprising college students, a media report said today. Nearly 60 per cent of online shops operated by individuals rather than enterprises are run by either college students or college graduates, the People’s Daily reported … Continue reading
Forest sector in Canada – Shortage of skilled workers union says
A shortage of skilled tradespeople could put a damper on the upswing in the forest sector, according to Unifor. The union says steady jobs, with pay up to $42 per hour at some northwestern Ontario mills, are hard to fill because there are few qualified candidates. Unifor national representative Stephen Boon says despite lucrative salaries, mills in … Continue reading
Russia – 110,000 jobs cut in the Ministry of Interior
In a massive austerity move, Russian President Vladimir Putin has removed about 110,000 employees from their jobs in the Ministry of Interior. Last week, the President had signed an agreement to cut the workforce of the ministry to 10 percent, CNN Money reported. The Russian economy contracted by 2.2 percent in the first quarter of the calendar … Continue reading
Greece’s Brain Drain – Young, educated workers are fleeing
As Greece stumbles from one economic disappointment to the next, the country is now exporting something it desperately needs to retain; young, educated workers. Thousands of skilled Greeks are heading overseas to further their careers, leading to fears the deeply troubled nation could be facing a brain drain. Recruitment agencies in the UK have reported … Continue reading
Quirky – Another round of layoffs to come
Quirky, the New York City startup with the goal of “making invention accessible,” announced to its employees Friday morning that more layoffs could be on the way as it struggles to raise additional capital, the company confirmed to Business Insider. Company spokesperson Tiffany Markofsky said in an email that Quirky is considering an additional reduction in headcount … Continue reading
Mining – Anglo American and Lonmin to cut 12,000 jobs
Two London-listed mining groups are to slash up to 12,000 jobs as commodity prices slump to levels last seen during the global recession of 2008-09. Platinum producer Lonmin plans to shut or mothball several mine shafts, putting 6,000 South African jobs at risk. Platinum prices have hit a six-and-a-half-year low, while power and labour costs … Continue reading
US – CEO pay was, on average, more than 370 times higher than the income of the average American worker Stifel finds
According to a recent report from the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), S&P 500 company CEOs made an average salary package of $22.6M in 2014, up nearly $2M from the previous year. Alternatively, according to the Bureau of Labor Statistics (BLS), the average worker in the US made only $36.1k … Continue reading
Gender Gap in US – Some Charts
The most recently available data from the U.S. Bureau of Labor Statistics show women above the age of 35 typically make less than 80% the salary of their male counterparts. Among younger workers it is a bit better, but still unequal, with women aged 16 to 34 making about 90 cents to every dollar paid … Continue reading
Employment Insurance (EI) benefits in May in Canada – 527,100 people, up 0.9%
There were 527,100 people receiving regular Employment Insurance (EI) benefits in May, edging up 0.9% or 4,800 from April. Compared with 12 months earlier, the number of beneficiaries increased by 15,400 (+3.0%). However, excluding Alberta, the number of beneficiaries in Canada edged down 0.7% (-3,200) on a year-over-year basis. In Alberta, the number of beneficiaries rose for the seventh consecutive month, up 10.4% in May. Smaller … Continue reading
Fast-Food Workers in New-York – The $15 Minimum Wage is coming
There aren’t a lot of obscure government board meetings that warrant a watch party, let alone one with a marching band. But that’s how fast-food restaurant workers and their supporters celebrated Wednesday on a blocked-off street in Manhattan, as they watched a state panel recommended a $6.25 increase in their hourly wage, to $15. “It’s … Continue reading
Jobless Claims in US – Lowest since 1973
The number of Americans filing new applications for unemployment benefits last week fell to its lowest level in more than 41-1/2 years, suggesting job growth remained solid despite slowing in June. Initial claims for state unemployment benefits declined 26,000 to a seasonally adjusted 255,000 for the week ended July 18, the lowest level since November … Continue reading
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