Job Market Monitor
Economy
UK / Department for Education cuts 1,000 jobs
About 1,000 jobs at the Department for Education (DfE) – a quarter of its total workforce – are being cut in an efficiency drive. Civil servants losing their jobs will be made redundant within two years, as the DfE focuses on priority work. The DfE was making administrative cuts of 42% by 2014-15 – but … Continue reading
How Education Matter – Infographics
. . Source: DOES GENERAL EDUCATION MATTER?
Greece / Economy shrinks further: Bad news for jobs
The Greek economy shrank 7.2% in the third quarter compared with the same period a year earlier, statistics agency Elstat has said. That was a deeper contraction than the 6.3% fall seen in the second quarter. Greece has been in recession since late 2008 and has been granted two bailouts from the European Union and … Continue reading
4-Day Workweek / Employees Love It, But Businesses ?
Business owners, do your employees work a four-day workweek? If you answered no, you’re not alone. The business world has evolved in many ways over the past few decades (for proof, just watch any episode of Mad Men), but one tenet of common corporate practice has held true: most workers still punch their digital time … Continue reading
UK / Unemployment rate at 7.8 per cent and employment up 100,000
The employment rate for those aged from 16 to 64 for July to September 2012 was 71.2 per cent, up 0.2 from April to June 2012. There were 29.58 million people in employment aged 16 and over, up 100,000 from April to June 2012. The unemployment rate for July to September 2012 was 7.8 per cent of the … Continue reading
Gender Gap / EU / Quota of 40% of women on boards has been approved
The EU has approved the proposals from justice commissioner Viviane Reding to have 40% of women on company boards by 2020. Reding tweeted the news this morning but an official announcement is expected later. They will still need to be approved by the European Parliament and the Council of Ministers, but Reding said she was … Continue reading
Xerox / Cutting 2,500 Jobs
Xerox officials released more details about restructuring plans Tuesday. At an investor conference in New York City, officials revealed that they expect about 2,500 jobs to be cut on a worldwide basis. No word yet on how many jobs might be affected in the Rochester area. A spokeswoman said the majority of the layoffs will … Continue reading
US / Why Is Labor Force Participation Shrinking?
We noted earlier that the recent drop in labor force participation — the percentage of people 16 or older who are working or looking for work — reflects not only the economic downturn and lack of job opportunities, but also the fact that more baby boomers are hitting retirement age. To measure the effect of … Continue reading
National Irish Bank / 100 jobs go
NATIONAL Irish Bank customers will no longer have access to branches from today when the Danish-owned operation shuts its retail outlets. All 27 branches will shut, with the loss of 100 jobs. Customers will now have to use An Post offices, telephone banking, go online to do their banking or drop into one of the … Continue reading
Atlantic City / Sandy / Layoffs at casinos
Atlantic City’s casinos are struggling to deal with the aftermath of Superstorm Sandy by laying off workers and cutting back the hours of others. The city’s 12 casinos had to close due to the storm for five to seven days in late October and early November. Even after they reopened, business slowed considerably. The Atlantic … Continue reading
Japan / Panasonic To Cut 10K More Workers
The Japanese consumer electronics industry continues to feel the squeeze in the economy, with one of the more painful effects being mass layoffs of workers. In the latest development, Panasonic Corp. says that it will reduce its workforce by 10,000 employees by the end of this fiscal year, which completes in March 2013. The company … Continue reading
UK / Harwell / Space Agency / 100 new jobs
UP TO 100 new jobs are set to be created at Harwell thanks to a major investment in a new telecoms satellite monitoring headquarters for the whole of Europe. The European Space Agency (ESA) will set up the centre after Chancellor George Osborne revealed the Government is to step up its investment in space spending … Continue reading
Australia / Optus and SingTel / 934 Job cut
SingTel’s Australian subsidiary Optus has shed 184 additional roles outside of its original plan of 750. The company revealed in SingTel’s Q2 results today that it had shed 746 roles in the year between September 30, 2011 and September 30, 2012, which the company had forecast earlier this year as part of a major restructure … Continue reading
US / FED / Yellen Says Fed Should Tie Rate Inflation and Employment
Federal Reserve Vice Chairman Janet Yellen backed a proposal to link the Fed’s zero interest-rate policy to progress toward meeting its goals for inflation and employment rather than to a calendar date. “The Committee might eliminate the calendar date entirely and replace it with guidance on the economic conditions that would need to prevail before … Continue reading
China / Unemployment on rise
China, with a 4.1 percent urban unemployment rate, is feeling the pressure from the country’s sluggish economy, as new job growth slows and more people become unemployed, a top official said today. “The impact of economic slowdown on the job market is starting to emerge,” said Vice Minister of Human Resources and Social Security Yang … Continue reading
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