Job Market Monitor
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Fiscal Cliff / Federal employees- from skeptical to alarmed
Federal employees have been skeptical for months that the biggest cuts to government spending in history could really happen. But with the “fiscal cliff” a week away, workers are now growing increasingly alarmed that their jobs and their missions could be on the line. President Obama and members of Congress headed out of town late … Continue reading
Greece / Should go stronger against rich tax dodgers says IMF
Greece’s drive to crack down on flagrant tax evaders such as doctors and lawyers is flagging and must be reinvigorated, a report by the European Union and International Monetary Fund said on Monday. Athens has collected just half the tax debts and conducted less than half the audits it was supposed to under the targets … Continue reading
UK / Vion – Poultry and Meat / 9,000 jobs could be saved
AROUND 9,000 jobs across Britain could be saved as Leeds-based private equity firm Endless closes in on deals to buy poultry and red meat businesses from their Dutch owner. Vion is exiting the UK to concentrate on its core activities in Netherlands and Germany and has put its £1.8bn business up for sale. Endless has … Continue reading
US / Minimum wages raises will benefit nearly 1 million workers in 10 States reports National Employment Law Project
The minimum wage will increase in ten states on Jan. 1, modestly boosting the incomes of nearly one million low-paid workers in Arizona, Colorado, Florida, Missouri, Montana, Ohio, Oregon, Rhode Island, Vermont, and Washington. The state minimum wage rates will rise between 10 and 35 cents per hour, resulting in an extra $190 to $510 … Continue reading
US / State of Local Government Pensions: aggregate unfunded liabilities of $574 billion
State government pensions have attracted considerable media and scholarly attention. Less well understood are the nation’s 3,196 locally administered plans. The paper represents a first step toward filling this gap. After reviewing issues common to state and local plans, it summarizes existing data and research on local pensions. Like many institutions now prevalent in state … Continue reading
Skills Gap / Incubator: a possible solution to skilled workers shortage
The skilled manufacturing industry needs to take a page from the local high-tech sector and open a business incubator to help train and retain talent in the region. That’s according to the president of the Conestoga Institute of Technology and Advanced Learning, who spoke to a group of manufacturing industry experts and regional representatives last … Continue reading
New England / Parachute maker Niche Inc warns of 360 layoffs
A New Bedford company that makes parachutes is warning it may have to cut some 360 jobs in February because of an expected drop in defense work. Kenneth Bello, a lawyer for Niche Inc., told the Standard Times of New Bedford that the company does not have enough new military contracts on the horizon to … Continue reading
UK Defence / BAE safeguards 6,000 jobs with Oman military jet deal
BAE Systems has secured a boost for British manufacturing and safeguarded 6,000 jobs after agreeing a £2.5bn contract with Oman for Typhoon and Hawk military aircraft. Britain’s largest defence contractor and manufacturing employer is targeting growth markets such as the Middle East as part of a strategic imperative that has become even more urgent in … Continue reading
Scotland / Statoil to create 700 jobs in North Sea development
Statoil is to invest £4.3bn in a North Sea oil field, bringing hundreds of jobs to the north east of Scotland. The Norwegian company said the investment in the Mariner field was the largest new offshore development in the UK in more than a decade. Statoil expects to start production from Mariner in 2017, pending … Continue reading
Hong Kong / More Financial jobs than New York or London by 2016
CEBR, the London-based economics consultancy, recently forecast Hong Kong will have more financial services jobs than New York or London by 2016, with some 262,000 positions. The Institute of Chartered Accountants in England and Wales (ICAEW) also gives its endorsement, saying Hong Kong will be the world’s premier financial job center by 2017, with 275,000 … Continue reading
South Australia / Government to axe 1750 public sector jobs over the next four years
SOUTH Australia has plunged deeper into the red with falling revenues forcing the state government to cut spending and slash jobs in the mid-year budget review. The government will cut spending by $464 million and axe 1750 public sector jobs over the next four years as it copes with revenue write-downs of more than $3 … Continue reading
GM / Camaro production shifted from Oshawa to Michigan – 2 000 jobs at stake
General Motors is moving production of the Chevrolet Camaro from its Oshawa, Ont., plant to a Michigan facility, the company said in a statement denounced by the Canadian Auto Workers’ union as a “betrayal.” GM said Wednesday that “lower capital investment and improved production efficiencies were key factors” in the move. But CAW president Ken … Continue reading
Texas / Half a million jobs added by oil and gas boom
Texas has gained more than 576,000 jobs from the ongoing U.S. oil and natural gas boom, far more than any other state, the IHS CERA analysis group reported Wednesday. The estimate includes both direct hires by oil and gas companies and other jobs in manufacturing and services that contribute to the boom or benefit from … Continue reading
Brazil / Petrobras $15.4 billion costs cutting – Impacts on jobs unknown
Brazil’s state-led oil company Petrobras (PETR4.SA) plans to cut costs by 32 billion reais ($15.4 billion) between 2013 and 2016 to stanch the impact of falling output and rising debt on its ambitious expansion plan. The plan will focus on 39 areas that accounted for 43 billion reais of spending in 2011 and seek to … Continue reading
Pfizer’s Lipitor / 600 jobs cut
Pfizer Inc (PFE.N) plans to cut about 20 percent of its sales force for primary-care drugs, Bloomberg News reported, as the pharmaceutical company copes with the loss of a patent for top-selling cholesterol drug Lipitor. The staff cuts will amount to about 600 sales people out of 3,000, and will begin this month, Bloomberg said, … Continue reading
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