Job Market Monitor
Economy
Jobs for America / A Rooseveltian Second Term Agenda
As part of our series “A Rooseveltian Second Term Agenda,” a reminder that creating more good jobs must be the president’s top priority. The presidential victory of Barack Obama was an important vindication for the uses of government. The small-government ideologues were defeated, but now the nation must go farther and recognize government is indeed a … Continue reading
Banks / Job cuts amount to near 160,000
Major banks have announced about 160,000 job cuts since early last year and with more layoffs to come as the industry restructures, many will leave the shrinking sector for good as redundancies outpace new hires by roughly two to one. A Reuters analysis of job cuts announced by 29 major banks showed the layoffs were … Continue reading
Bulgaria / Unemployment rate up at 11pc in October
Bulgaria’s unemployment rate rose to 11 percent in October from 10.6 percent the previous month, mainly due to a drop of seasonal jobs in agriculure and tourism, data from the labour ministry showed on Friday. About 12, 500 new workers in the European union’s poorest country lost their jobs in October, bringing the number of … Continue reading
Chicago / Skills Gap will crimp their growth next year
Chicago-area manufacturers who participated in a panel discussion Thursday said the shortage of skilled workers will crimp their growth next year. Tim Jahnke, president and chief executive of Elkay Cos., an Oak Brook-based maker of stainless steel sinks, faucets, water coolers and plumbing products, said the situation is so severe that his company may have … Continue reading
Procter & Gamble / To cut more jobs
Procter & Gamble plans to trim more non-manufacturing jobs through 2016, on top of cutting 10 percent of that workforce by the end of June, as the world’s largest household-products maker tries to reinvigorate what has become a sluggish organization. P&G also said it may increase stock repurchases to $6 billion from $4 billion, but … Continue reading
Canada / Almost half feel overqualified for their jobs
Canadians are not alone in feeling undervalued in the workplace, as a new survey shows almost half of the population feels overqualified for their jobs. The latest global work monitor survey released by recruitment firm Randstad showed 44 per cent of Canadians feel they are overqualified for the positions they fill, while one in five … Continue reading
Euro zone / A second recession since 2009
The debt crisis dragged the euro zone into its second recession since 2009 in the third quarter despite modest growth in Germany and France, data showed on Thursday. The two leading economies both managed 0.2-per-cent growth in the July-to-September period. But the resilience could not save the austerity-hit 17-nation bloc from overall contraction as the … Continue reading
Sierra Leone / Strategies to promote employment
The current world-wide recession has focused the spotlight, once again, on the need to redouble our efforts to find new and creative ways of boosting employment in Sierra Leone, one of the countries hardest hit by the economic downturn. Party manifestoes have been published ahead of the presidential and parliamentary elections on Saturday November 17. … Continue reading
Ohio / Timken / Between 300 and 400 employees are facing temporary layoffs
Between 300 and 400 Timken employees are facing temporary layoffs, after a poor third-quarter showing by the company. In a statement to Fox 8 News, a spokesperson says Timken Steel has experienced lower customer demand across its market sectors. As a result, operational schedules have been adjusted over the last few months, resulting in 160 employees … Continue reading
Kentucky / L’Oreal to add add 211 jobs
L’Oreal will invest $42 million and add 211 jobs over the next two years to expand its Florence facility on New Buffington Road. Gov. Steve Beshear and the judge-executives of Boone, Kenton and Campbell counties broke ground Thursday morning on the expansion at L’Oreal in Northern Kentucky that will double the workforce at the plant and … Continue reading
Michigan / Chrysler / To add 1,250 jobs in
Chrysler Group LLC will announce new investments and jobs Thursday at one of its Detroit facilities. A Chrysler spokeswoman would not comment on the details of the announcement, but the Detroit Free Press reports the Auburn Hills-based automaker invest $238 million in three Michigan plants and add about 1,250 jobs so it can ramp up … Continue reading
(UPDATE) Saskatchewan – Potash Corp – layoffs
Potash Corp. is temporarily laying off workers at mines in Saskatchewan and New Brunswick because of a slump in demand. The Saskatoon-based company says the Allan mine in Saskatchewan won’t operate between Dec. 16 and Feb. 9… Choosen excerpts by Job Market Monitor from via Potash Corp. issues layoffs. Longer than normal layoffs are coming a … Continue reading
Texas Instruments / To cut 1,700 jobs
Texas Instruments is eliminating 1,700 jobs or almost 5 percent of its global workforce to cut costs in its wireless business as it moves away from making smartphone application chips, sending its shares up almost one percent in late trade. The Dallas, Texas based chipmaker had said in September that it would halt costly investments … Continue reading
Skills Gap / No Big Deal writes Businessweek
The much talked-about “skills gap” in the U.S. is more limited than many people think and shouldn’t prevent, or even stall, the U.S. manufacturing renaissance, at least for a while. More severe shortages are likely to develop, however. We need to take steps now to prevent them and make sure that enough new talent enters … Continue reading
Sweden / Layoffs double
Redundancies in Sweden are on the rise, with a fresh report showing that twice as many workers were laid off in October compared to the same month last year, making for a labour market climate similar to that of 2009. Some 10,300 people were made redundant in October, according to fresh figures from the Swedish … Continue reading
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