Job Market Monitor
Economy
Eurozone recession to continue into 2013 says Markit
he rate of contraction in the eurozone economy eased slightly in November, according to a closely-watched survey. But the region is still in line for another quarter of recession with further contraction likely in early 2013, according to Markit, who produced the survey. Its Eurozone Composite Purchasing Managers’ Index (PMI), which measures business activity, rose … Continue reading
Canadian Pacific cutting 4,500 jobs and move Calgary headquarters
Calgary-based Canadian Pacific Railway has announced plans to cut 4,500 jobs by 2016. The railway said Tuesday the jobs would include both employee and contractor positions. CP said it expected to eliminate 1,700 positions over the next month. The firm said the cuts would include job reductions, natural attrition and using fewer contractors. The cuts … Continue reading
UK / Friends Life to cut a further 150 jobs
Friends Life is making around 150 staff redundant as part of a new round of cost cutting. The provider says it has not yet decided which departments will suffer cuts, adding it will inform staff in due course. As well as the job losses, Friends Life has around 50 job vacancies it will no longer … Continue reading
Airports / 19 million jobs were located within 10 miles of major american airports
As our Richard Florida pointed out in a series of posts last spring, airports play a “substantial role” in the economic growth of American cities. Their ability to facilitate the movement of goods and people may influence urban development as much as highways, railroads, and seaports did in previous centuries. They may also rival nearby … Continue reading
US / 100 Small Businesses have created more than 73,000 jobs between 2008 and 2011
Small businesses will put Americans back to work. That’s what Eric Schurenberg, editor-in-chief at Inc. magazine, told us. That’s also why he decided to come up with his own list of the top small businesses that are creating the most jobs right now. “The Inc. 500 list has been around since the early 80’s,” Schurenberg said. “So why … Continue reading
Unemployment Insurance / Its Importance for American Families and the Economy
Among the many spending cuts and tax increases legislated to take effect at the turn of the year, few policies have as direct an effect on those most affected by the Great Recession than the expiration of extended unemployment insurance (UI) benefits. In the first week of January, roughly two million individuals will lose extended … Continue reading
US / The recession has not affected all Americans equally
The recession has not affected all Americans equally. While overall unemployment hovers around 8 percent, the reality was much different depending on your racial and ethnic background. African-Americans had an unemployment rate of 14.1 percent, nearly double the rate of whites at 7.2 percent. Hispanics had the second highest unemployment rate at 10.2 percent. And … Continue reading
Spain / Rising unemployment in November
Spain’s queue of job seekers grew to a new record in November, official data showed Tuesday, a grim sign for a nation in the grip of a jobs-killing recession. The number of people registered as unemployed grew by 74,296, or 1.5 percent, to 4.91 million in November from the previous month, the Labour Ministry said … Continue reading
US / More Would Opt for a Business Job Than a Gov’t Job
By 60% to 35%, more U.S. adults would rather work for a business than for government, unchanged from January 2010. Among those currently employed for pay, preferences are similar: 63% would rather work for business and 33% for government. Source: More in U.S. Would Opt for a Business Job Than a Gov’t Job.
New York Times / Layoffs Loom Again
Less than two months after protracted contract negotiations came to a close between the New York Times Company (NYSE: NYT) and the Newspaper Guild, the nation’s newspaper of record is looking to make some difficult cuts. Jill Abramson, executive editor of the Times, sent a letter to the paper’s staff requesting buyouts from 30 non-union … Continue reading
India / Microsoft, Google hiring from new IIT campuses, pushing up wages by 15-20%
It’s just their second year on the placement scene but the new Indian Institutes of Technology at Ropar, Patna, Hyderabad, Bhubaneswar and Gandhinagar, among others, are already nipping at the heels of their much-older and more established counterparts. Big-ticket recruiters like Microsoft, Amazon and Google have descended on these campuses and average salaries have shot … Continue reading
Australia / Reserve Bank Cuts Key Rate to Match Half-Century Low
The Reserve Bank of Australia cut its benchmark interest rate to the half-century low set during the 2009 global recession as hiring falters and an elevated currency hurts industries such as manufacturing and tourism. Governor Glenn Stevens and his board reduced the overnight cash-rate target by a quarter percentage point to 3 percent, the central … Continue reading
South Africa / State’s fund creates only 745 jobs in 18 months
Since its launch last year, the government’s R9bn Jobs Fund has placed 745 unemployed youths into jobs through one of the projects that have benefited from the fund. The fund, promised by President Jacob Zuma last year in his state of the nation address and launched in June, provides grants to government departments, companies, municipalities … Continue reading
British Airways / To cut 400 cabin crew jobs
British Airways is looking to shed 400 senior cabin crew jobs. But the airline stressed that there would be no compulsory redundancies. A BA spokesman said the airline had entered into a 90-day consultation with the Unite union about the possibility of making voluntary redundancy available to 400 cabin crew staff. Those being offered the … Continue reading
UK / Top 10% of households are 850 times wealthier than the bottom (video)
Key findings The wealthiest tenth of households owned more than 40% of overall wealth and were over 850 times wealthier than the least wealthy tenth of households A household required total wealth greater than £967,000 to belong to the wealthiest 10% of the distribution The south-east of England had the highest percentage of ‘wealthy’ households … Continue reading
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