Job Market Monitor
Politics & Policies
ArcelorMittal / Layoffs / No to Europe’s Political Pressure
Alarmed by the speed at which the steel industry is becoming a symbol of Europe’s economic decline, a top European Union official has called for the world’s biggest steel maker to postpone planned job cuts and factory closings. The company, ArcelorMittal, has said no. “Continuing to operate these plants would threaten the overall viability of … Continue reading
Fed / Aggressive easing needed says Yellen in an address to AFL-CIO
The Federal Reserve’s aggressive easing of monetary policy is warranted given the still-battered state of the U.S. labor market, Fed Vice Chairwoman Janet Yellen said on Monday. In an address to the politically influential AFL-CIO, the largest U.S. labor group, Yellen, a potential successor to Fed Chairman Ben Bernanke next year, bemoaned the unusually weak … Continue reading
The State of the Union Speech / Will Obama Talk Job ?
“The State of the Union address is Obama’s opportunity to suggest some practical compromises on immigration, gun control, debt-reduction, and other topics,” said University of Virginia political expert Larry Sabato. “Certainly, he won’t want to negotiate with himself, but a president can send signals by what he mentions and doesn’t mention, what he puts first … Continue reading
Pennsylvania / Budget proposes pension reform, 400 layoffs plus the elimination of 500 other positions
Gov. Tom Corbett today asked his Republican-controlled Legislature for pension reform, transportation investments and a $90 million increase in basic education funding in his 2013-14 budget. The Republican governor’s $28.4 billion blueprint, if approved by lawmakers, is $679 million higher than the current year’s budget and includes no tax increase. It does, however, propose 400 … Continue reading
EU / Van Rompuy to propose youth employment initiative
Herman Van Rompuy, the president of the European Council, will propose a “youth employment initiative” worth several billion euros at a special summit on the European Union’s long-term budget later this week (7-8 February). “The budget must help us tackle the most urgent problems,” Van Rompuy wrote in a message published today (5 February). “Youth … Continue reading
US / Smart Deficit Reduction Matters
According to the Bureau of Labor Statistics, the economy added 157,000 jobs during the month of January and an average of 200,000 jobs in the prior three months. These new estimates of job gains now reflect the annual “benchmark” revision to the payroll survey, which showed that the level of employment in December last year … Continue reading
West Virginia / Unemployment Insurance: Not a good employment policy
Every business faces ups and downs, and how a business reacts and adapts to a downturn plays a large part in its success. During tough economic times, businesses often face difficult decisions and can be forced to lay off valuable, trained employees in order to survive. Not only do businesses lose their skilled employees and … Continue reading
France / Minister Michel Sapin: There is a state but it’s a totally bankrupt state
France’s government was plunged into an embarrassing row yesterday after a minister said the country was ‘totally bankrupt’. Employment secretary Michel Sapin said cuts were needed to put the damaged economy back on track. ‘There is a state but it is a totally bankrupt state,’ he said. ‘That is why we had to put a … Continue reading
US / Boehner: Job Report shows Obama wrong to scrap president’s jobs council – The Hill’s Blog Briefing Room
Speaker John Boehner (R-Ohio) said the latest jobs report shows President Obama was wrong to close up his his jobs council. “This is the wrong time for President Obama to scrap his jobs council and delay his budget,” Boehner said in a statement released less than an hour after a new report found the jobless … Continue reading
A lower minimum wage for trainees in Washington state ?
Washington state has the highest state minimum wage in the nation, but a new bill being considered by lawmakers would allow some employers to pay a lower “training wage” to new employees for a certain period of time. The measure heard before the Senate Commerce & Labor Committee on Wednesday would establish a special training … Continue reading
US / Council on Jobs and Competitiveness set to end
In the “something you didn’t know existed that is now going away” category: The president’s Council on Jobs and Competitiveness is set to end tomorrow. It came together two years ago, to generate ideas and policies for accelerated job creation. I asked economist Gary Burtless at the Brookings Institution what he thought about the president’s … Continue reading
Sweden / Seven key facts about unemployment insurance
Today, around 3.4 million workers in Sweden are enrolled in an unemployment insurance fund, according to figures from the Swedish Unemployment Insurance Board (IAF). But figuring out exactly how everything works isn’t always straightforward. Below are a few pointers to bear in mind as you go about signing up. 1) You need to be a … Continue reading
Minesota / Debate touches on pros and cons of raising state minimum wage
Some of the first bills introduced at the Minnesota Legislature this year would raise the state’s minimum wage, which has not increased since 2005. The federal standard of $7.25 an hour applies to people who work for large companies or companies that engage in interstate commerce. The state minimum wage for the smallest businesses is … Continue reading
An EU wide unemployment insurance system?
One of the most promising measure normally present in monetary unions is unemployment compensation. This idea is currently being given a push in the EU – including by the Employment Commissioner Laszlo Andor who has talked about it as serving as an automatic stabiliser and argued that “We need and must study the possible set-up … Continue reading
US / Job Gap / President Elected Jobs Council without official meeting for a year
President Barack Obama’s Jobs Council hit a notable milestone on Thursday: one year without an official meeting. The 26-member panel is also set to expire at the end of the month, unless Obama extends its tenure. The group, formally known as the President’s Council on Jobs and Competitiveness, last convened on Jan. 17, 2012 for … Continue reading
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