Job Market Monitor
Business
US / Old (white) boys club still alive and well
The proverbial old boys clubs in elite professions may no longer have rules keeping women and minorities out, but an analysis of their hiring practices suggests their upper-class, male and white makeup will stubbornly remain. According to a new U.S.-based study, bankers, lawyers and management consultants would rather hire someone who is like them than … Continue reading
LivingSocial / To lay off 400 in U.S.
LivingSocial Inc. is slated to launch a major round of layoffs Thursday, with as many as 400 job cuts expected across its U.S. workforce, according to sources with knowledge of the daily deal giant’s plans. Those cuts are expected to span a wide range of positions and markets, including in LivingSocial’s home turf of D.C., … Continue reading
Canada / Total non-farm payroll employment declined by 52,500
Total non-farm payroll employment declined by 52,500 from August to September, following six consecutive monthly increases. In September, the number of payroll employees declined in most sectors, with the largest declines in manufacturing; accommodation and food services; administrative and support services; and ‘other services.’ On a year-over-year basis, payroll employment rose by 235,400 (+1.6%), with the bulk of these … Continue reading
Wisconsin / One in five state business leaders eyes layoffs in next 6 months
Wisconsin business leaders say the state is headed in the right direction, yet one in five plans to cut staff in the next six months, the largest percentage in more than three years, according to a semi-annual survey conducted by Wisconsin Manufacturers and Commerce. Twenty percent said they plan layoffs in the first half of … Continue reading
Ireland / AIB / Target of 2,500 lay-offs by 2014
ALLIED Irish Banks (AIB) has said it expects to hit its target of 2,500 lay-offs by 2014. More than 1,000 staff have left under a voluntary scheme, including early retirement, with another 700 to go by the end of December. In an interim management statement, AIB said it expects to see bad debt provisions for … Continue reading
Las Vegas / Retama / About 296 employees have received layoff notices
About 296 employees at Retama Park have received layoff notices as a Las Vegas casino company continues its quest to acquire the Selma racetrack — but that doesn’t mean hundreds will lose their jobs. Angela Cooper, director of human resources for Retama Entertainment Group, which has provided management services at the track, said the layoff … Continue reading
Malaysia / Minimum Wage / Efforts to smoothen the transition for small and middle industries are seriously lacking
Although the minimum wage law is scheduled to take effect in January 2013, the Barisan Nasional government does not seem to be particularly committed to re-imagine the Malaysian economy through wage policy reform. Efforts to smoothen the transition for small and middle industries are seriously lacking too. Minimum wage is meant to tackle several long-standing … Continue reading
US / All Time Biggest Layoffs
Hewlett-Packard It’s hard to top, or bottom, the recent mass firings by past-its-prime Silicon Valley stalwart Hewlett-Packard. The last few years have been dreadful for the computer manufacturer. Longtime CEO Carly Fiorina was shoved out the door after a disastrous merger with Compaq. Her successor Mark Hurd followed suit after a sex scandal, and his … Continue reading
Spain / Bankia cuts 6,000 jobs
Spain pushed forward on Wednesday with a major overhaul of the country’s stricken banking sector after Brussels approved EU-funded restructuring plans, and with nationalised Bankia saying it will slash 6,000 jobs and is set for a huge loss. Meanwhile the Bank of Spain delivered more bad news on the overall economy, saying country appears stuck … Continue reading
Virginia and Kentucky / Southern Coal announces massive miner call backs
Southern Coal Corp. announces massive call backs and hiring of miners in Southwest Virginia, Southern West Virginia and Eastern Kentucky. The company has worked over the last month with several customers to secure coal orders to be able to save jobs as well as reopen mines closed earlier this year. Southern Coal has entered into … Continue reading
Indiana / Iron company to create 100 jobs
An iron-recycling company is investing hundreds of millions to build a new plant in White County, creating 100 new jobs and bringing even greener industry to Indiana. Magnetation, LLC, which recycles iron waste to produce valuable iron ore concentrate, announced plans Tuesday to invest up to $350 million to build a new iron-ore pellet plant … Continue reading
Denmark / Saxo Bank to cut 266 jobs (17,5% of workforce)
Denmark’s Saxo Bank is to cut its workforce by 17.5 percent because of reduced trading activity, a source close to the company told Reuters. A total of 266 of the bank’s 1,513 employees will lose their jobs,” the source said. The bank declined to comment until after it had released a statement later on Tuesday. … Continue reading
Italy / 20,000 jobs threatened at ILVA plant
Workers stormed Europe’s biggest steel plant ILVA, which faces closure over allegations of an environmental disaster, as Italy’s government raced to save 20,000 threatened jobs. Management closed the factory’s cold rolling facility, which produces finished steel plates, strips and pipes, after a Monday court ruling to seize the plant’s steel output, which the company said … Continue reading
US / For each dollar of federal highway grants received by a state, that state’s GSP rises by at least two dollars
Federal highway grants to states appear to boost economic activity in the short and medium term. The short-term effects appear to be due largely to increases in aggregate demand. Medium-term effects apparently reflect the increased productive capacity brought by improved roads. Overall, each dollar of federal highway grants received by a state raises that state’s … Continue reading
UK / Older workers / Propelling the rise in self-employment
Older workers have propelled the increase in self-employment that has helped to hold down the jobless rate since the economic crisis began, a Financial Times analysis shows. The proportion of workers who are self-employed has climbed to a record 14 per cent over the past four years – helping to keep a lid on unemployment … Continue reading
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