Job Market Monitor
Business
Germany / Unemployment Rate Declined to 6.8 percent in January
German unemployment unexpectedly declined in January, adding to signs that a pick-up in Europe’s largest economy is gathering pace. The number of people out of work fell a seasonally adjusted 16,000 to 2.92 million, the Nuremberg-based Federal Labor Agency said today. Economists predicted an increase of 8,000, the median of 31 estimates in a Bloomberg … Continue reading
Harman / 500 jobs cut and, maybe, 500 more
Audio systems maker Harman International Industries Inc slashed its full-year outlook and said it would cut up to 9 percent of its workforce after second-quarter profit missed Street estimates due to lower sales to European carmakers. Harman shares plunged 14 percent to $42.49 in morning trade on the New York Stock Exchange. “We expected European … Continue reading
UK / 150 jobs to go at IPC Media
the UK division, the magazine giant IPC Media, must cut 150 jobs, which amounts to 8% of the total. The publisher of Britain’s best-known consumer magazines, such as Marie Claire, Ideal Home, Woman, Woman’s Own, In Style and Now, said the cuts would be accompanied by “organisational changes.” There will also be sweeping changes to … Continue reading
Quebec / Two Best Buy outlets close
Some Best Buy outlets have shut their doors in the last several hours. The electronics chain appears to have closed at least two outlets in Quebec, in Sherbrooke and in Montreal-area Lachenaie. And there are reports that more than a dozen Best Buy big box outlets will close across Canada. The windows at the Sherbrooke … Continue reading
UK / Youth Unemployment / Labour councils vs Stalin-esque ministers
The harsh reality is government programmes are failing. In fact, fewer than 6,000 young people have been helped into sustained jobs: that’s just 3.4% of young people on the Work Programme. The Youth Contract, launched with much fanfare by the deputy prime minister last year, is working so well that the government has decided to … Continue reading
Singapore / Jobless Rate at 5-Year Low
Singapore’s jobless rate fell to a five-year low last quarter as companies hired more local workers after the government tightened the inflow of foreign labor. The seasonally adjusted jobless rate fell to 1.8 percent from 1.9 percent in the third quarter, the Ministry of Manpower said in a statement today. The median estimate of nine … Continue reading
US / Education Matters: Community College
The “jobs gap”—or number of jobs needed to return to pre–Great Recession levels—stood at 11.3 million in late 2012, while 12.8 million Americans were unemployed. Carnevale, Smith, and Strohl (2010), however, estimated 46.8 million new jobs will need to be filled by 2018, of which 13.8 million will be new jobs and 33 million will … Continue reading
Daimler Trucks / Layoffs could reach 1,000 in Portland
New reports circulated on Wednesday suggesting Daimler Trucks is preparing to cut more than 1,000 jobs at its Portland manufacturing facilities. Choosen excerpts by Job Market Monitor from Daimler Trucks Warns of Potential Portland Layoffs – Truckinginfo.com.
US / In decline?
The American Century is dead. Long live the next American Century. The subtext of political debate these days is that the United States is in decline — a proposition often portrayed as self-evident. The economy lacks dynamism; unemployment near 8 percent remains at recession levels. The president and his Republican critics barely talk to each … Continue reading
Alps Electric / 3,000 Jobs Cuts
Alps Electric Co. (6770), a Japanese electronics supplier for carmakers and Apple Inc. (AAPL) jumped the most in more than 22 months after announcing it will cut 3,000 jobs worldwide to help stem losses… “The job cuts are aimed at improving profitability,” Satoshi Yamamoto, a company spokesman said by phone today. The reductions will be … Continue reading
Time / Around 500 Jobs Cut
Time Inc. began a widely anticipated round of layoffs on Wednesday. The Wall Street Journal said that around 500 people will be cut from the world’s largest magazine company — home to Time, Sports Illustrated and People, among others. That means that the roughly 8,000-strong workforce would be cut by about 6 percent. Choosen excerpts … Continue reading
Northern Europe / Nordea / To cut as many as 940 more jobs
Nordea Bank CEO Christian Clausen signalled on Wednesday he still needs to cut as many as 940 more jobs at Scandinavia’s biggest lender to reach a goal of lowering headcount at least 10%. “We have reduced our staff by 8%, we have come far,” Mr Clausen said in an interview, after the company said in … Continue reading
UK / Rolls-Royce: Nearly 400 workers at risk
Aerospace firm Rolls-Royce has said it is in consultation with unions over job cuts at one of its plants, after a trade union said nearly 400 workers are at risk. Unite reported earlier today that Rolls-Royce had sent an internal memo to its staff to detail its proposals. The plan puts 378 jobs at risk … Continue reading
US / Blockbuster to shed thousands of jobs
ideo rental business Blockbuster plans to close hundreds of stores in the coming weeks and expects to shed thousands of jobs, the company said Tuesday. Blockbuster, which was bought by Dish Network (DISH, Fortune 500) in 2010 after going bankrupt, plans to close about 300 stores and cut about 3,000 jobs, said Dish spokesman John … Continue reading
Quebec / New Davie Yard: More than 500 employees being hired by July
Davie Canada Shipyard’s new owners are preparing to relaunch the Quebec City area’s idled shipbuilding operations, hiring the first 100 employees next month to build three vessels for maiden customer Cecon. The company said Tuesday it has been working hard since the Nov. 15 acquisition to restart operations as “quickly as possible,” leading to more … Continue reading
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