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US / Democrats want jobless benefits in Fiscal Cliff deal
Hovering in the background of the “fiscal cliff” debate is the prospect of 2 million people losing their unemployment benefits four days after Christmas. “This is the real cliff,” said Sen. Jack Reed, D-R.I. He’s been leading the effort to include another extension of benefits for the long-term unemployed in any deal to avert looming … Continue reading
Layoffs / Ten global companies cut 100,000 jobs in 2012
With an aim to save costs in troubled economic times, just 10 companies together have announced nearly one lakh job cuts worldwide since start of 2012 and they include giants like HP, Google and Citigroup. While these companies come from a wide array of businesses, the reason behind layoffs has mostly been cost-cutting efforts in … Continue reading
(UPDATE) US / Unemployment Rate Falls to Four-Year Low / Sandy: no substantively impact the job market
Total nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, professional and business services, and health care. Household Survey Data The unemployment rate edged down to 7.7 percent in November. The number of unemployed … Continue reading
Looking For a Job in China ? Procedure for Employment in Beijing
Procedure for Employment in Beijing Employment of foreigners in Beijing refers those who have not obtained the right of permanent residence and who work and receive remunerations for their work in accordance with law within the Chinese territory. Those foreigners who have not obtained residence permits (holders of F, L, C and G visas), and … Continue reading
Newsweek Layoffs Coming / A bloodbath says a source
A source calls the layoffs “a bloodbath” and estimates that half the editorial staff will be gone. Newsweek’s print edition is ending in a matter of weeks, and the anticipated staff changes have already begun. Layoffs are expected to be announced this afternoon, a tipster tells us. Meanwhile, we hear that a few editors are proactively … Continue reading
Oscar maker plans layoffs
The Chicago company that makes the familiar gold-plated Oscar statues is laying off almost 100 employees as it’s bought by a Canadian firm. But some workers could be rehired. R.S. Owens & Co. Inc. said this week in a notice to the Illinois Department of Commerce that it will lay off 95 workers on Dec. … Continue reading
US / Offshoring / About 663,000 large-company service jobs heading offshore
Service companies have been sending jobs abroad in large numbers the past decade to cut labor costs — a trend that accelerated in the recession and is expected to continue the next few years before slowing after 2016. About 663,000 large-company jobs in information technology, human resources, finance and purchasing — the category that includes … Continue reading
Fiat / To slash 1,500 jobs in Poland
Italian carmaker Fiat said Friday it would slash 1,500 jobs in a plant in Poland due to falling demand for small cars in the European market. Output in Tychy, southern Poland, was projected to fall below 300,000 vehicles next year, down from 600,000 in 2009, Fiat said in a statement. The company summoned Polish unions … Continue reading
Kenya / Corruption Costs 250,000 Jobs – New World Bank Report
Corruption accounts for loss of resources enough to create 250,000 jobs in Kenya annually, the World Bank has said. In its latest economic update titled ‘Kenya at Work’, the report says an enterprise survey found out that firms pay up to 12 per cent of value of government contracts to win them and four per … Continue reading
The unemployment rate would slowly increase over the coming months – Brookings
“The November employment report showed unexpected declines in both the unemployment rate and in the labor force participation. A stock-flow analysis of the latest report shows that the labor market continues to show many signs of weakness, with no improvements in workers’ job finding rates and a stubbornly elevated rate of job separation. In fact, … Continue reading
Canada / Labour productivity fell 0.5% in the third quarter
The labour productivity of Canadian businesses fell 0.5% in the third quarter, following a 0.6% decline the previous quarter. It was the second consecutive decrease after three quarterly gains. Chart 1 Productivity in Canadian businesses declines once more The decline in productivity in the third quarter took place in a context where business output remained at the same level … Continue reading
Canada/ Employment rose by 59,000 and unemployment rate declined to to 5-month low 7.2%
Following little change in October, employment rose by 59,000 in November, the result of an increase in full-time work. The unemployment rate declined 0.2 percentage points to 7.2%. Chart 1 Employment Compared with 12 months earlier, employment increased 1.7% or 294,000, mostly in full-time work. Over the same period, the total number of hours worked rose 1.3%. In November, employment increased in Ontario, Quebec, Alberta, Manitoba and … Continue reading
Finance / 300,000 jobs gone in the past two years, more than half a million in four years
Wall Street’s cost cuts and dismissals, which have helped erase more than 300,000 financial- industry jobs in the past two years, are far from over. Citigroup Inc. (C)’s announcement yesterday of plans to eliminate 11,000 positions in units spanning equities trading to consumer banking is the latest sign of strain from a market slowdown, stiffer … Continue reading
Indonesia / Large-scale labor rally for minimum wage increase in Medan
A large-scale labor rally in Medan forced dozens of companies to suspend operations on Thursday, with the firms’ workers following the lead of their Jakarta counterparts by demanding a significant minimum wage increase. Thousands of workers from Medan and surrounding areas continued their rally for a second day on Thursday, after their Wednesday protest caused … Continue reading
The Grand Disconnect – Employers, education providers, and youth
“Around the world, governments and businesses face a conundrum: high levels of youth unemployment and a shortage of job seekers with critical skills” writes Mona Mourshed, Diana Farrell, and Dominic Barton in a McKinsey in Its report Education to Employment Designing a system that works. (Adapted choosen excerpts by Job Market Monitor to follow) How can a country successfully move … Continue reading
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