Job Market Monitor
Economy
Sandy / Nearly 30,000 Jobs Lost says NYLD
Hurricane Sandy wiped out nearly 30,000 jobs in and around New York City last month, the New York State Labor Department said on Thursday. The impact of the storm on small businesses and larger companies whose offices could not reopen for weeks afterward left New York City and the state with fewer jobs in November … 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
Europe / Recession / Turning off the heat and skipping meat at Christmas
The euro zone debt crisis has put a damper on this festive time of year in southern Europe. In Greece, families say they’re turning off the heat and skipping meat at Christmas dinner. Lisboners will be cutting back on gifts (one cleaning lady told Reuters she will only give “bare necessities”). And Italian civil servant … 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
Advantage Ontario calls for action in Ontario’s key tradable sectors to create jobs
“We are living in an era of increased global competition and the continuing aftermath of the financial crisis and global recession” writres Gord Nixon and Kevin Lynch in the LETTER TO ONTARIANS introducing the report of the Jobs and Prosperity Council ADVANTAGE ONTARIO (Adapted choosen excerpts by Job Market Monitor to follow) Economic globalization has at once undermined traditional … Continue reading
Canada / Employment Insurance / Up 4,600 (+0.9%) to 535,000October 2012
Following a small decline in September, the number of people receiving regular Employment Insurance (EI) benefits in October edged up 4,600 (+0.9%) to 535,000. The number of beneficiaries increased slightly in Alberta, New Brunswick, Ontario, Manitoba and Quebec, while it edged down in British Columbia. Employment Insurance beneficiaries edge up in October . Choosen excerpts by Job Market … Continue reading
US / Top charts of 2012 by the Economic Policy Institute
EPI’s top charts of 2012 are drawn from our flagship publication, The State of Working America; regularly updated Economic Indicators; weekly Economic Snapshots; and posts on Working Economics, the EPI blog. Taken together, they illustrate that in 2013, policymakers must do more to ensure the U.S. economy works for all Americans. Here are the fisrt … Continue reading
China / Over 12 million jobs created this year
The Chinese government today said it has created 12.02 million new jobs in the first 11 months of this year surpassing the goal of 9 million. The urban registered unemployment rate stood at 4.1 per cent at the end of September, below the annual target of 4.6 per cent, the Ministry of Human Resources and … Continue reading
Global Job Gap / At least until 2017 to recoup the lost in the US and Europe says UN
World economic growth has weakened substantially this year and faces the confluence of a triple threat — the fiscal cliff in the United States, a worsening European debt crisis and a sharp slowdown in China, the United Nations said in a year-end report released on Tuesday. The worst case, the report said, could be a … Continue reading
Born in the bottom without higher education: 45% chance of remaining there
As the semester draws to a close at schools and universities across the country and college applications are submitted, the Treasury Department has released a report that should be food for thought for students scrambling to complete their work and finish their exams. The new report, prepared in conjunction with the Education Department, shows that … Continue reading
Ireland / Call centre brings 250 jobs
A CALL centre has delivered an early Christmas present of 250 new jobs to an unemployment blackspot. Three former Talk Talk workers, who set up Irish technical support company Eishtec, are expanding their business to a second centre in Drinagh, Co Wexford. The jobs, which are service and technical support roles, are being welcomed in … Continue reading
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