Job Market Monitor
Bloomberg
Bloomberg / To Cuts 50 Jobs in Newsroom
Bloomberg said it will cut about 2% of staff, or around 50 people in its news division as it struggles to maintain profits in a tough economic environment. Areas including sports, arts and entertainment will see the most cuts according to people familiar with the company\’s plans, although a small proportion of personnel will be … Continue reading
Mass Layoffs – Highest Since 2010 Finds Blommberg
Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe’s deepening recession lead to a persisting slump in sales. North American companies have announced plans to eliminate more than 62,600 positions at home and abroad since Sept. 1, the biggest … Continue reading
Student Debt in U.S. Rises to $867 Billion, New York Fed Says – Bloomberg
Debt from educational loans in the U.S. rose to $867 billion last quarter, according to the Federal Reserve Bank of New York. The total increased from $865 billion three months earlier, according to a report released today. The figure comprised both federally backed loans, which are secured by the U.S. government, and private borrowing. While … Continue reading
China Hits Turning Point; Jobs Coming Back to the U.S.
As reported in The New American here, the difference in wages between Chinese and American workers is narrowing rapidly. Part of the reason is that China has passed the Lewis Turning Point. First noted by Bloomberg, that turning point hit the Chinese labor markets in the weeks following China’s Lunar New Year holiday in February, … Continue reading
Sweden Unemployment Rose in January as Debt Crisis Hits Demand – Bloomberg
Swedish unemployment rose more than estimated last month as Europe’s debt crisis weighs on demand in the largest Nordic economy. The non-seasonally adjusted unemployment rate, based on a survey of about 29,500 people, rose to 8.0 percent from 7.1 percent the prior month, Stockholm-based Statistics Sweden said today. The median estimate of 13 economists surveyed … Continue reading
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