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Canada – Employment rose for the second consecutive month, up 43,000 in October, UR at 6.5%, the lowest rate since November 2008
Employment rose for the second consecutive month, up 43,000 in October. This pushed the unemployment rate down 0.3 percentage points to 6.5%, the lowest rate since November 2008. In the 12 months to October, employment rose by 182,000 (+1.0%), with the growth in September and October of this year accounting for two-thirds of this increase. Compared with October 2013, part-time employment rose by 101,000 (+3.0%) and full-time employment … Continue reading
US – Total nonfarm payroll employment rose by 214,000 in October, UR at 5.8 percent
Total nonfarm payroll employment rose by 214,000 in October, and the unemployment rate edged down to 5.8 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in food services and drinking places, retail trade, and health care. Household Survey Data Both the unemployment rate (5.8 percent) and the number of unemployed persons (9.0 … Continue reading
US – The second stretch of economic expansion in a row that has come with little to no growth in real wages
The private sector has now added 10.3 million jobs for 55 straight months, the longest streak on record. Today’s report is all but certain to show tens of thousands more jobs added in October, pushing the streak still further. But wages over that period have barely outpaced the rate of inflation, making this the second … Continue reading
Jobless Claims in US – The four-week average at a 14-1/2 year low
The number of Americans filing new claims for unemployment benefits fell more than expected last week and compensation accelerated in the third quarter, in the latest signs of tightening labor market conditions. Thursday’s upbeat data underscored the resilience of the economy and some analysts said the pick-up in wage growth moved the Federal Reserve closer … Continue reading
Australia – Investigations on The Labour Force estimates
This statement provides background information on issues identified in seasonally adjusted labour force estimates over the period July-September 2014, on the investigations undertaken to understand these issues and the proposed approach for the release of the October 2014 labour force estimates on 6 November 2014. The key points are: The ABS took the unusual step … Continue reading
Youth Unemployment in Jamaica – At 34.1 per cent in July 2014.
The Statistical Institute of Jamaica (STATIN) is reporting an 11 per cent decline in the unemployment rate for July compared with the similar period last year. In its July 2014 Labour Force Survey, STATIN says there were 179,000 unemployed persons in the country compared to 201,600 in July 2013. Unemployment among youth age 14-24 was … Continue reading
Australia – Unemployment at 6.2%, still near 12-year high
Australia’s jobless rate remained at the highest level in almost 12 years, a sign that many businesses are reluctant to hire in an uncertain economic climate and that interest rates may need to stay at record lows for a while yet. Unemployment stayed at a higher-than-expected 6.2% in October, the same as the recently revised … Continue reading
SNC-Lavalin – To cut 4,000 jobs
SNC-Lavalin Group Inc. is slashing almost 10 per cent of its global workforce and sharply revising downward its 2014 outlook as it exits underperforming businesses and imposes more cost-cutting measures. Montreal-based SNC said Thursday it will over the next 18 months scale back some activities and restructure and streamline some of its operations and corporate … Continue reading
Layoffs in US – Challenger reports employers announced 51,000 layoffs in October, up 68% from September
Announced layoffs swung higher last month, rising to about 51,000 in October, bouncing up from a 14-year low in September, according to data released Thursday by outplacement consultancy Challenger, Gray & Christmas. Led by retail job cuts, October’s announced layoffs were up 68% from 30,000 in September and 12% from 46,000 announced cuts in October … Continue reading
ADP US Employment Report for October 2014 – Private-sector employment increased by 230,000
Private-sector employment increased by 230,000 from September to October, on a seasonally adjusted basis. Highlights Small businesses (1-49 employees) +102,000 Medium businesses (50-499 employees) +122,000 Large businesses (500 or more employees) +5,000 via ADP National Employment Report – October 2014 | NER.
Canada – A third feel their jobs are threatened by advances in technology
A global Randstad study found that a third of Canadians feel their jobs are threatened by advances in technology, and one in four believes the job they currently hold could vanish entirely if the trend continues. Advancements in technology have always threatened certain industries, and now is no different. From giant corporations to university libraries … Continue reading
Canada – Having something unpaid on your CV is very worth it says Bank of Canada governor Stephen Poloz
Labour lawyers and economists are criticizing Bank of Canada governor Stephen Poloz over comments he made suggesting that youth work for free in order to avoid the “scarring” of long-term joblessness. Poloz cited the problem of graduates living in their parents’ basements, unable to find work. “The longer it takes for a jobless youth to … Continue reading
Unemployment in Europe – Latest economic forecasts are grim
The European Commission’s latest economic forecasts are grim. Overall, growth for the eurozone is expected to be 1.1% this year, down from the 1.7% in the spring forecast. On the unemployment front the report took an even more negative tone. Labour market conditions are expected to improve very gradually, with unemployment falling from 11.5% today to 10.8% … Continue reading
Volkswagen in China – Aims to create about 5,500 new jobs at its new component plant
Located in the Tianjin Economic Technological Development Area (TEDA) in North-East China, the plant is the 107th of the Volkswagen Group and has been built at an initial investment of 265 million (RMB 2.2 billion) to boost economic activity in Northern China. By 2019, it aims to create about 5,500 new jobs in the region. … Continue reading
Canada – Ensuring jobs for veterans is an obligation survey finds
The vast majority of Canadians believe we have an obligation to ensure veterans find meaningful employment after their military service. The exact number has hit an all-time high of 96 per cent, up from 94 per cent last year, and 90 per cent in 2008. The annual Nanos national Remembrance Day survey, released today by … Continue reading
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