Job Market Monitor
In the News
Rolls-Royce – To cut 2,600 staff, mostly in the Aerospace division
British engineer Rolls-Royce (RR.L) plans to cut 2,600 jobs to save money and has replaced its finance director, aiming to restore confidence following two profit warnings in eight months. The world’s second-largest maker of aircraft engines said the job cuts, which will mostly come in the Aerospace division and will take 18 months to complete, … Continue reading
Regional Labour Markets in Europe – A Map
Employment rates The EU-28’s economically active population (also called the labour force) was composed of 242.2 million persons aged 15–74 in 2012, among which 216.9 million were employed and 25.3 million were unemployed (in search of work and available to work). To meet the Europe 2020 employment rate target an average increase of 0.8 points … Continue reading
Scotiabank – To cut 1,500 jobs
Scotiabank (TSX:BNS) warns that it’s cutting the equivalent of 1,500 jobs companywide – about two-thirds of them in Canada – and taking a number of accounting measures that will cut about $341 million from its profit for the fourth quarter. Despite the magnitude of the announcement, the bank said it remains on track to meet … Continue reading
Sprint – To cut 2000 jobs
Sprint Corp (S.N) announced on Monday it will fire 2,000 employees and it cut its 2014 adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses. The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the third … Continue reading
Australia – Vocational education and training (Infographics)
This infographic provides a snapshot of Australia’s publicly funded vocational education and training sector. It presents statistics about student characteristics, qualifications completed, where and what students studied, and participation rates. Statistics about young people’s participation in education and training is also presented. Chosen excerpts by Job Market Monitor. Read the whole story at Snapshot of vocational … Continue reading
Lanxess – To cut up to 1,200 jobs
German chemicals maker Lanxess may slash up to 1,200 jobs, or about 7 percent of its total workforce, as part of a group-wide overhaul to counter overcapacity in the synthetic rubber industry, German daily Rheinische Post reported. The world’s largest maker of synthetic rubber plans to offer voluntary redundancy packages and early retirement schemes but … Continue reading
Singapore – Unemployment at 1.9 per cent
Unemployment in Singapore remained “low and steady” in the third quarter, despite an increase in layoffs due to business restructuring, the Ministry of Manpower said on Friday (Oct 31). The overall seasonally-adjusted unemployment rates held steady over the quarter in September – from 2 per cent in the second quarter to 1.9 per cent. Chosen … Continue reading
Latin America – Employment growth is likely to remain subdued for some time
Employment growth is likely to remain subdued for some time, as changes in labor markets typically lag those in the overall economy, and output growth is not expected to revert to the high rates of the “golden decade” anytime soon. In this context, unemployment rates will probably rise somewhat and real wage growth may well … Continue reading
Canada – The job market is experiencing more weakness than is implied by headline unemployment rate
A senior economist at the Toronto Dominion Bank has gone a step farther. Randall Bartlett has created an index that takes into account all of the unpublished or under-reported data that StatsCan, the Bank of Canada and the U.S. Federal Reserve collect to measure the health of the job market. He calls his yardstick the … Continue reading
US – Hiring of college graduates is expected to jump 16 percent
Hiring of college graduates is expected to jump 16 percent in the US, though the starting salaries will see only a modest growth, says a study. About 60 percent of employers said they will keep starting pay the same as last year for the newly minted degree-holders, the survey of more than 5,700 companies revealed. The … Continue reading
Australia – Foreign students find it extremely difficult to get professional work
International graduates find it extremely difficult to get professional work in Australia, despite having qualifications in areas of supposed skills shortages, a three-year study has found. The accounting, nursing and engineering graduates in the study encountered multiple barriers to getting a job, including a tough jobs market and local firms unwilling to take on staff … Continue reading
US – Generation Jobless: a conference
“A barrier today is the rigid ideology of our public discourse,” Marc Morial, president and CEO of the National Urban League said. Morial, a former mayor of New Orleans and Louisiana State Senator, was one of many leaders to speak Friday at Generation Jobless, a conference devoted to exploring the crippling unemployment crisis affecting younger … Continue reading
Canada – Precarious work has become the “new normal”
precarious work has become so entrenched it spans all age groups, gender, level of education and economic sectors, as recent research from the Poverty and Employment Precarity in Southern Ontario (PEPSO) project demonstrates. Far from a temporary situation, PEPSO shows how precarious work has become the “new normal.” While just about half of workers younger … Continue reading
Screening with LinkedIn – Certain information is a “consumer report” says a lawsuit
The popular social network was sued on Oct. 9, 2014, for alleged violations of the Fair Credit Reporting Act (FCRA). The class action, Sweet v. LinkedIn Corporation, filed in the Northern District of California, claims that LinkedIn’s reference checking services are essentially background screening functions that should be regulated by the FCRA. The case against … Continue reading
US – Just 63 percent of 20-24 years old were employed as of September 2014
Opportunity matters. But for many young Americans, opportunity is hard to come by. Young Americans have faced bleak job prospects for years, but the recession hit millennials particularly hard. Just 63 percent of Americans age 20-24 were employed as of September 2014, according to calculations based on Bureau of Labor Statistics data. In September 2000, … Continue reading
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