Job Market Monitor
Business
Kellogg / To cut about about 2,200 jobs
Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. The maker of Frosted Flakes and Eggo waffles says it expects earnings per share for the year to be toward the lower end of its previous forecast. According to FactSet, Kellogg has … Continue reading
US Monetary Policy / Fed’s Bullard sees substantial progress in labor markets
There’s been “substantial progress” in the U.S. labor market, St. Louis Fed President James Bullard told CNBC on Monday. But inflation is low, he added—saying, “What’s the hurry” to taper the Federal Reserve’s massive bond-buying program. “The unemployment rate is down almost a full point from when we start this program in September 2012. We’ve … Continue reading
Merck / Job cuts rise by 8,500 to 16,000
Merck job cuts mean the drugmaker is slashing about 20 percent of its workforce. 8,500 jobs will be added to the 7,500 Merck job cuts already announced, bringing the total to 16,000. Continue reading
US / Construction adds 20,000 jobs and unemployment hits six-year low
Construction employment rose by 20,000 in September, and the industry’s unemployment rate fell to a six-year low of 8.5 percent, while construction spending increased for the fifth consecutive month in August, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned that the data does not address … Continue reading
US / ‘One-stop shop’ to attract foreign investment to generate jobs
The US launched a fresh effort Thursday to attract investment by foreign manufacturers and other businesses as the government seeks to pull down stubbornly high unemployment. President Barack Obama was to address 1,200 foreign and US business leaders in Washington as the White House tries to further lower barriers to foreign investment. White House officials … Continue reading
US / Jobless Claims drop but bigger gains in payrolls are needed
Fewer Americans filed applications for unemployment benefits last week as a backlog in California’s reporting cleared. Jobless claims decreased by 10,000 to 340,000 in the week ended Oct. 26 from 350,000 the prior period, the Labor Department reported today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a decrease to … Continue reading
Nevada / Up to 7,800 expected to be hired for holiday retail jobs
The Retail Association of Nevada said in a statement Wednesday that it expects hiring in Nevada to remain in line with that of 2012, which was up 2.6 percent compared to 2011. That translates to up to as many as 7,800 people across Nevada who are expected to be added to retail payrolls during the … Continue reading
Florida / Theme parks seeking 2,000+ workers
Central Florida theme parks are gearing up for the holiday season with plans to hire more than 2,000 workers, the Orlando Sentinel reports. Here’s a breakdown of the number of jobs each theme park plans on adding: SeaWorld Orlando is seeking about 200 workers for its three theme parks. It will be holding a job … Continue reading
UK / Two Yorkshire councils cut 1,000 jobs
TWO Yorkshire councils have drawn up plans to cut about 1,000 jobs in a further round of spending cuts. Bradford Council is looking to reduce the number of posts by 696 over the next two years and neighbouring Kirklees Council expects to shed 300 posts next year. Council leaders in Bradford have drawn up budget … Continue reading
US / Mid-sized firms add more than 1.25 million jobs in 2013 while large corporations cut more than 3 million jobs
Mid-sized firms are on track to add more than 1.25 million jobs in 2013, which would account for 7 out of every 10 new jobs created this year. In addition, the nearly 200,000 companies representing the U.S. middle market grew revenue at 5.5% over the past 12 months, more than double the rate of S&P … Continue reading
Embraer / To add 600 jobs in Florida
After opening an aircraft assembly facility in Jacksonville, Embraer is still growing its Florida presence. The state is working on a deal that could add 600 jobs at Melbourne International Airport. Gov. Rick Scott announced Tuesday that Embraer jet manufacturer has selected the Space Coast airport to build its Legacy 450 and Legacy 500 planes. … Continue reading
Thomson Reuters / To cut 3,000 jobs
Financial news and data provider Thomson Reuters has said it will cut a further 3,000 jobs as part of a continuing cost-saving plan. The latest cuts are in addition to 2,500 job losses announced in February. Like the earlier cuts, the jobs will mainly go in its financial and risk unit, responsible for renting out … Continue reading
Japan Tobacco / To cut 1,600 jobs
Japan Tobacco Inc. (2914) is cutting 1,600 jobs and closing four factories in the country as part of its plan to boost domestic competitiveness and profitability. The job cuts, or about 18 percent of the company’s workforce, will be made through a voluntary retirement program that will be offered to eligible employees in the Japanese … Continue reading
Sears Canada / To cut nearly 1,000 jobs as 5 stores close
Nearly 1,000 people could be out of work after Sears Canada announced Tuesday it will be closing five stores in the hopes of saving $400 million Continue reading
UK / Tata Steel cut around 500 jobs
Tata Steel, Europe’s second-largest steel producer, said on Tuesday it could cut around 500 jobs under plans to restructure the part of its British business that supplies the construction and engineering industries. Changes to its long products business – which makes tubes, rails and rods, used in many industrial sectors – will affect management and … Continue reading
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