Job Market Monitor
Business
Euro zone / A second recession since 2009
The debt crisis dragged the euro zone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday. The two leading economies both managed 0.2-per-cent growth in the July-to-September period. But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the … Continue reading
Ohio / Timken / Between 300 and 400 employees are facing temporary layoffs
Between 300 and 400 Timken employees are facing temporary layoffs, after a poor third-quarter showing by the company. In a statement to Fox 8 News, a spokesperson says Timken Steel has experienced lower customer demand across its market sectors. As a result, operational schedules have been adjusted over the last few months, resulting in 160 employees … Continue reading
Kentucky / L’Oreal to add add 211 jobs
L’Oreal will invest $42 million and add 211 jobs over the next two years to expand its Florence facility on New Buffington Road. Gov. Steve Beshear and the judge-executives of Boone, Kenton and Campbell counties broke ground Thursday morning on the expansion at L’Oreal in Northern Kentucky that will double the workforce at the plant and … Continue reading
Michigan / Chrysler / To add 1,250 jobs in
Chrysler Group LLC will announce new investments and jobs Thursday at one of its Detroit facilities. A Chrysler spokeswoman would not comment on the details of the announcement, but the Detroit Free Press reports the Auburn Hills-based automaker invest $238 million in three Michigan plants and add about 1,250 jobs so it can ramp up … Continue reading
Pension Plan / Less than a third of Fortune 100 Companies offer a defined benefit plan to newly hired salaried workers
In 2012, the number of Fortune 100 companies offering new salaried employees only a defined contribution (DC) plan rose, as it has for many years. Today, less than a third of these companies offer any DB plan to newly hired salaried workers, and only 11 still offer a traditional DB plan to new hires. Large … Continue reading
(UPDATE) Saskatchewan – Potash Corp – layoffs
Potash Corp. is temporarily laying off workers at mines in Saskatchewan and New Brunswick because of a slump in demand. The Saskatoon-based company says the Allan mine in Saskatchewan won’t operate between Dec. 16 and Feb. 9… Choosen excerpts by Job Market Monitor from via Potash Corp. issues layoffs. Longer than normal layoffs are coming a … Continue reading
The American Job Gap
We face a 9 million jobs gap between the number of jobs we have and the number we need, and this doesn’t even address the low quality of the jobs being created. The chart below, taken from an Economic Policy Institute blog post, illustrates the gap. As Heidi Shierholz, the author of the post, explains: The … Continue reading
Ireland / More than 850 seasonal retail jobs for Christmas
MORE than 850 retail jobs were announced today as stores hope for the busiest Christmas period in years. Some 650 of the positions were announced by two of the country’s top retailers Boots and Heatons. Boots Ireland will create 400 temporary full- and part-time positions in its Irish stores to cover the festive celebrations. “Customer … Continue reading
Texas Instruments / To cut 1,700 jobs
Texas Instruments is eliminating 1,700 jobs or almost 5 percent of its global workforce to cut costs in its wireless business as it moves away from making smartphone application chips, sending its shares up almost one percent in late trade. The Dallas, Texas based chipmaker had said in September that it would halt costly investments … Continue reading
Skills Gap / No Big Deal writes Businessweek
The much talked-about “skills gap” in the U.S. is more limited than many people think and shouldn’t prevent, or even stall, the U.S. manufacturing renaissance, at least for a while. More severe shortages are likely to develop, however. We need to take steps now to prevent them and make sure that enough new talent enters … Continue reading
Sweden / Layoffs double
Redundancies in Sweden are on the rise, with a fresh report showing that twice as many workers were laid off in October compared to the same month last year, making for a labour market climate similar to that of 2009. Some 10,300 people were made redundant in October, according to fresh figures from the Swedish … Continue reading
4-Day Workweek / Employees Love It, But Businesses ?
Business owners, do your employees work a four-day workweek? If you answered no, you’re not alone. The business world has evolved in many ways over the past few decades (for proof, just watch any episode of Mad Men), but one tenet of common corporate practice has held true: most workers still punch their digital time … Continue reading
UK / Unemployment rate at 7.8 per cent and employment up 100,000
The employment rate for those aged from 16 to 64 for July to September 2012 was 71.2 per cent, up 0.2 from April to June 2012. There were 29.58 million people in employment aged 16 and over, up 100,000 from April to June 2012. The unemployment rate for July to September 2012 was 7.8 per cent of the … Continue reading
Gender Gap / EU / Quota of 40% of women on boards has been approved
The EU has approved the proposals from justice commissioner Viviane Reding to have 40% of women on company boards by 2020. Reding tweeted the news this morning but an official announcement is expected later. They will still need to be approved by the European Parliament and the Council of Ministers, but Reding said she was … Continue reading
Xerox / Cutting 2,500 Jobs
Xerox officials released more details about restructuring plans Tuesday. At an investor conference in New York City, officials revealed that they expect about 2,500 jobs to be cut on a worldwide basis. No word yet on how many jobs might be affected in the Rochester area. A spokeswoman said the majority of the layoffs will … Continue reading
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