Job Market Monitor
Economy
South Africa / Mining bleeds 15,000 jobs in quarter
THE beleaguered mining sector shed 15,000 jobs in the third quarter, reflecting the extent to which the slowdown in global demand for commodities, coupled with disruptive wildcat strikes, had on the sector, a Statistics South Africa jobs survey released on Tuesday showed. The job losses in mining do not bode well for South Africa’s already … Continue reading
Peugeot / 1,500 Jobs Added to Cuts
PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, will eliminate an additional 1,500 jobs by 2014, deepening its workforce reduction as auto sales in the region plunge to a 17-year low. The cuts, which come on top of 8,000 announced in July, will be made by not replacing people who leave, Jonathan Goodman, a spokesman for … Continue reading
Poland / Fiat announces 1,500 layoffs
Fiat announced 1,500 layoffs at its Polish operations to reduce production, as demand is plummeting in Europe. Fiat forecasts losses of 700 million euros ($903 million) in Europe this year. The cuts will come at the Tychy plant as well as from sales staff in the country, Fiat said in a statement on Friday. Fiat … Continue reading
(Update) UK / Unemployment rate down 0.2 at 7.8 per cent and the biggest quarterly fall in unemployment since 2001
For August to October 2012: The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.1 on May to July 2012 and up 0.9 on a year earlier. There were 29.60 million people in employment aged 16 and over, up 40,000 on May to July 2012 and up 499,000 on … Continue reading
India / About 1,900 jobs lost for tech professionals
When news emerged early this week that Motorola Mobility, a Google subsidiary, has decided to shut down its Chennai unit and to pink slip 76 employees, the resultant feeling was déjà vu. Well, 2012 has been like that for telecom and IT sectors, largely due to the gloomy global outlook and its repercussions were being … Continue reading
Retirement / Employment among men 65 and over increasing since the mid-1990
For nearly all of the 20th century, employment of older workers decreased as increasing numbers retired. But since the mid-1990s, this trend has reversed. Employment among men at least 65 years of age, for example, has increased. The Great Recession of recent years has masked this long-term trend and the reasons for it and has … Continue reading
The Fast Food Pay Gap: $8.25 vs $8.75 Million
The pay gap separating fast-food workers from their chief executive officers is growing at McDonald’s Corp., Burger King Worldwide Inc. and Yum (YUM)! Brands Inc., which owns the Pizza Hut, Taco Bell and KFC brands. The disparity has doubled at McDonald’s Corp. in the last 10 years, according to data compiled by Bloomberg. At the same time, the company … Continue reading
UK / Unemployment rate down 0.2 at 7.8 per cent and the biggest quarterly fall in unemployment since 2001
For August to October 2012: The employment rate for those aged from 16 to 64 was 71.2 per cent, up 0.1 on May to July 2012 and up 0.9 on a year earlier. There were 29.60 million people in employment aged 16 and over, up 40,000 on May to July 2012 and up 499,000 on … Continue reading
Kennedy Space Center / 119 workers laid off, another 129 to come
United Space Alliance said goodbye over the weekend to 119 more Kennedy Space Center employees in its latest round of layoffs. NASA’s lead shuttle contractor, a joint venture between the Boeing Co. and Lockheed Martin Corp., is continuing a multi-year downsizing as the shutdown of the nation’s space-shuttle program nears completion. The latest cuts reduced … Continue reading
Gender Wage Gap Grows At Elite B-Schools finds Bloomberg
Exclusive new research from Bloomberg Businessweek has found that the pay gap among graduates of elite business schools, virtually non-existent a decade ago, is widening. Women now earn a nickel less than they used to in their first post-MBA jobs for every dollar earned by men. And those are the lucky ones. At about a … Continue reading
Health Information / WebMD to cut around 250
Health information website WebMD Health Corp said it will cut around 250 jobs, or 14 percent of its workforce, to reduce costs. The company, which had about 1700 employees according to Thomson Reuters data, said it would take a charge of about $6 million to $8 million in the fourth quarter, primarily on severance and … Continue reading
US / The world’s largest trade deficit kills jobs
Agonizing over U.S. job losses often overlooks a primary cause of the problem: America’s severe trade deficit. Since the 1970s, U.S. imports have exceeded exports every year. “This deficit, now the world’s largest, kills jobs. It urgently needs to be fixed,” write Donald L. Barlett and James B. Steele in their new book, The Betrayal … Continue reading
Reshoring in US / A nascent trend ?
Recent days have produced a steady drip, drip, drip of good tidings about new jobs on America’s factory floors. Apple, Lenovo, LG Chem, and now Daimler AG have all recently said they plan to add manufacturing jobs in the US. President Obama hopes it’s a sign of the times, but economists say it’s, at best, a … Continue reading
China / Mass factory layoffs rise to 15-month high
Workers laid off due to factory shutdowns increased to a 15-month high of 141,000 in October, according to government statistics released yesterday. Chinese Personnel Executive Association (CPEA) chief executive Lin Yu-min (林由敏) said retirement benefit inquiries have risen in recent weeks, indicating that more factories have shut down, resulting in mass layoffs. Older workers who … Continue reading
Canada / Upturn in youth jobs picture
For months on end, the jobs picture among Canadian youth has been either little improved or deteriorating. That shifted Friday, with a report showing 16,300 new jobs were added for the 15-to-24-year-old crowd last month. That was sufficient to bring their unemployment rate down to 14 per cent from 14.7 per cent in October. Employment … Continue reading
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