Job Market Monitor
Economy
UK / Large scale redundancy period cut from 90 to 45 days
The 90-day period before large scale redundancies can take place is to be cut to 45 days, the Government announced today. Employment Relations Minister Jo Swinson said the move, along with other changes, was aimed at helping workers and businesses. But the TUC said the last thing the country needed was for the Government to … Continue reading
India / Jobs in textile sector to grow 15% by 2017
The number of jobs in India’s textiles and allied sectors is estimated to rise by about 15 percent by the end of the 12th Five Year Plan. At the end of fiscal year 2010-11, there were 105 million people employed in India’s textiles and allied sectors, PTI quoted Textiles Minister Anand Sharma mentioning in a … Continue reading
Canada / 10,800 Public Servants jobs cut so far
Federal public servants whose jobs were cut because of the government’s budget reductions are leaving the workforce, and the majority of people whose jobs could disappear in the coming months have been put on notice, say public sector unions and the Treasury Board Secretariat. Between April 1 and Sept. 30, federal departments and organizations have … Continue reading
US / Nearly 6.9 million people out of the labor force want a job
In January, the U.S. Bureau of Labor Statistics significantly reduced its projections for medium-term labor force participation. The revision implies that recent participation declines have largely been due to long-term trends rather than business-cycle effects. However, as the economy recovers, some discouraged workers may return to the labor force, boosting participation beyond the Bureau’s forecast. … Continue reading
How Long Will it Take to Get to 6.5 Percent Unemployment? | Brookings Institution
Job Market Monitor : Last week, the FED said that it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. The Brooking Institute takes a look at it. *-* The … Continue reading
Minimum Wage / Pushing for a livable wage
Before the recession, Amie Crawford was an interior designer, earning $50,000 a year patterning baths and cabinets for architectural firms. Now, she’s a “team member” at the Protein Bar in Chicago, where she makes $8.50 an hour, slightly more than minimum wage. It was the only job she could find after months of looking. Crawford, … Continue reading
California / Prisons / Layoff Warnings to 2,200 Employees
California Correctional Health Care Services has sent layoff warning notices to 2,200 of its employees, the Sacramento Bee’s “The State Worker” reports (Ortiz, “The State Worker,” Sacramento Bee, 12/12). Background About six years ago, U.S. District Judge Thelton Henderson appointed federal receiver J. Clark Kelso to oversee the state’s prison health care system after determining that … Continue reading
Calgary / SMART Technologies: 225 layoffs
Temporary foreign workers, who were laid off at Smart Technologies in Calgary, could be forced out of the country. SMART Technologies announced on Tuesday that it was laying off up to 25 percent of its staff by March 2013, including Abhishek Dhawan who was hired from India in August to test software for the company. … Continue reading
Nuclear / Babcock and Wilcox Announces Layoffs in Ontario
Babcock & Wilcox has announced plans to lay off 90 workers at its manufacturing plant in Cambridge, Canada. The positions amount to about 30 percent of the Ontario plant’s unionized hourly workforce, the Waterloo Record reported. The layoffs will take effect in January, and a B&W spokeswoman told the newspaper that the company does not … Continue reading
UK / Airbus / 1,500 jobs safeguarded
The company says a $9bn (£5.5bn) order for 100 A320 planes from AirAsia will safeguard 1,500 Airbus jobs in the UK and 7,500 in its supply chain. The wings for its A320 series are made at the Flintshire factory. AirAsias’s order is for 64 of the A320neo (new engine option) and 36 of the A320ceo … Continue reading
Barclays / Could cut up to 2,000 jobs
Antony Jenkins, the bank’s new chief executive, announced in September that some parts of the bank would “shrink” as part of the overhaul, although he has ruled out a break-up of the scandal-hit lender. The job cuts could be announced early next year, the Wall Street Journal reported, and would represent around 10pc of Barclays’ … Continue reading
Avon / To cut 1,500 jobs
Avon Products said it will cut about 1,500 jobs and exit two Asian markets — South Korea and Vietnam — as the struggling beauty products starts toward its cost-cutting goal. The job cuts amount to almost four per cent of its workforce and marked one of the first major moves by CEO Sheri McCoy, who … Continue reading
FED / Targeting unemployment and inflation
The Federal Reserve announced Wednesday that it will take unprecedented steps to bolster the economy, saying it will continue to stimulate growth until the unemployment rate falls to 6.5 percent or the inflation rate reaches 2.5 percent. The Fed said it did not expect unemployment to reach that benchmark until 2015. It was a historic … Continue reading
Hong Kong / Minimum Wage Increases
The Hong Kong government said it would raise the minimum wage by 7 per cent in May next year as it tries to allay concerns about a growing disparity between the rich and the poor in the city. The lowest salaries will rise to HK$30 (US$3.90) an hour, the government said on Wednesday, affecting about … Continue reading
US / The Income Inequality Crisis in 16 Charts
The middle class crisis — and its resulting income inequality — is the most important economic story of our time. There are a million ways to tell it, and here’s another: an annotated slide show, culled from the amazing 2012 edition of the State of Working America from EPI. Choosen excerpts by Job Market Monitor … Continue reading
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