Job Market Monitor
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India to China – Set up manufacturing units
India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading
US – Employers are not hiring , they squeeze
As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading
Layoffs in Finland – The autumn will be even bleaker than the summer
The autumn will be even bleaker than the summer in terms of unemployment, according to employment experts. Firms are no longer simply putting employees on furlough, but are more eager to terminate their agreements outright. One researcher says that the situation can now be described as mass unemployment. Chosen excerpts by Job Market Monitor. Read … Continue reading
Brazil After The World Cup – In recession
Brazil’s economy slipped into recession for the first time in more than five years as investments contracted on lower confidence before the October presidential election. Gross domestic product (GDP) shrank by 0.6% in the April-June period from the previous three months, after contracting a revised 0.2% in the first quarter, the national statistics agency said … Continue reading
Atlantic City – 6,000 layoffs of casino workers to come next week
One of the region’s largest mass-filings for unemployment and other benefits will begin next week for newly laid-off Atlantic City casino workers in an outreach effort so large it had to book part of the city’s convention center. The Showboat and Revel are shutting down this weekend, putting more than 5,000 workers out of work. … Continue reading
Canada – Business entry rate declined from 24.5% to 13.1% from 1983/1984 to 2011/2012 finds StatCan
Firm entry and exit are an important source of dynamism that is essential to a well functioning economy. The entry of new firms is an important source of productivity growth and technology adoption while exit removes less productive firms. Based on a new set of linked, experimental data for the period 1983/1984 to 2011/2012, Canada’s … Continue reading
US – Employers are no longer investing resources in training
Yesterday my colleague, Matthew Philips, raised an interesting question about the skill gap, pointing to new research that claims the problem is not that workers are unqualified, but that companies’ expectations have changed: They are no longer investing resources in training their staff. It’s not hard to see why. Training is expensive, and Philips notes … Continue reading
Cost Competitiveness – The old worldview now appears to be out of date
For the better part of three decades, a rough, bifurcated conception of the world has driven corporate manufacturing investment and sourcing decisions. Latin America, Eastern Europe, and most of Asia have been viewed as low-cost regions. The U.S., Western Europe, and Japan have been viewed as having high costs. But this worldview now appears to … Continue reading
Europe – The recession is really a depression
Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading
Cisco – To cut 6,000 jobs
Cisco will cut its worldwide staff by 6,000 in the coming months as it battles against slow growth, particularly in emerging markets, where the demand for high-end switches and routers don’t have such high demand. The company hasn’t revealed which roles will be affected, nor in which territories, but it says the action had to … Continue reading
Deere – To cut over 600 factory jobs
Agricultural machinery maker Deere & Co. (DE: Quote) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff. via Deere To Cut Over 600 Factory Jobs At … Continue reading
Thai Airways – To cut 1,500 jobs this year
Thai Airways expects to return to profit earlier than expected in the fourth quarter, aiming to cut 1,500 jobs this year under its recently approved restructuring plan. The airline also said it would shed more than a quarter of its full-time employees by 2018, the first major job cuts announcement since the plan was given … Continue reading
Jobs Openings in US in June 2014 – Increased to 4.7 million, highest since 2001
Jobs openings increased in June to 4.671 million from 4.577 million in May. This is the highest level since February 2001. Chosen excerpts by Job Market Monitor. Read the whole story at Calculated Risk: BLS: Jobs Openings increased to 4.7 million in June, Highest since 2001.
US – Headcount additions remain highly targeted in the face of ongoing skills gaps and rising wage pressure says PwC
In the first quarter of this year, 63% of Trendsetter companies told us they’d add staff in the next quarter, the highest level we’ve seen in several years. So we weren’t particularly surprised when the US Bureau of Labor Statistics announced that June’s unemployment rate had dropped to 6.1%. In fact, average unemployment in 2Q14 … Continue reading
US – Companies are getting older, not just people
Not only is the American population aging, businesses in the U.S. also are growing older. Older firms are increasingly controlling the largest market share in different sectors of the economy, according to a paper by the Brooking Institution’s Robert E. Litan and Ennsyte Economics’s Ian Hathaway. By 2011, the portion of U.S. businesses aged at … Continue reading
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