Job Market Monitor
Economy
US Job Market / The Year 2012 in Review: Improving at a steady slow pace
Employment continued to improve modestly, unemployment edged down, and wage gains were approximately equal to price inflation in 2012. By the end of the year the recovery from the deep recession in 2008-2009 will be 3½ years old. The health of the job market, like that of the broader economy, is improving at a steady … Continue reading
India / Job creation down by 21% in 2012
Job generation during 2012 saw a 21 per cent decline across various sectors of the economy between January and mid-December, according to an Assocham analysis. “A total of over 5.3 lakh jobs were generated during the aforesaid period across India i.e. over 2.8 lakh jobs in first half of the year and over 2.4 lakh … Continue reading
Bank Layoffs to Continue
Barclays (BCS) is expected to announce a plan to layoff approximately 10% of its 23,000 investment banking employees early in 2013. Although the bank has not given any official details, it is generally believed that the job cuts will happen mostly in Asia and Europe. Barclays is going through a massive overhaul following the departure … Continue reading
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
Zimbabwe / Is it possible to create a million jobs in five years ?
There have been debates and comments in the past weeks on whether it is possible to create a million jobs in Zimbabwe over the next five years. Many economists and analysts interviewed by the various media say it is a dream. In other words, it is impossible. When Marconi told people that he was developing … Continue reading
Canada / 5.3 unemployed per job vacancy, down from 5.7 a year ago
There were 267,000 job vacancies among Canadian businesses in September, up 19,000 from 12 months earlier. For every job vacancy, there were 5.3 unemployed people, down from 5.7 in September 2011. The decline in the ratio of unemployment to job vacancies was all the result of the increase in job vacancies. Ratio highest in the East, lowest in the Prairies Provincially, the highest ratios of unemployed … 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
Government can create only government jobs
During the election campaign the need for jobs got attention, but neither candidate took the trouble to explain how, exactly, jobs are created. Contrary to what politicians claim, jobs start not with government but investors. In the wake of election rhetoric, the realities of investment need restating. Investors are people in a position to invest … Continue reading
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