Job Market Monitor
Economy
Canada / Quebecor cutting some 500 jobs
Quebecor Inc. is cutting some 500 jobs at its Sun Media newspaper division in a move that includes the closure of two production facilities in Ottawa and Kingston. The downsizing is part of the Montreal-based media group’s efforts to reduce annual costs by $45 million. There had been earlier reports Quebecor (TSX:QBR.B) would eliminate the … Continue reading
OECD / Unemployment Rate / Broadly the same rate observed since January 2011
The OECD unemployment rate was 7.9% in September 2012, broadly the same rate observed since January 2011. In the euro area, the unemployment rate increased for the 16th consecutive month — up 0.1 percentage point to 11.6% in September. The unemployment rate fell by 0.3 percentage point in the United States in September (to 7.8%), … Continue reading
NBCUniversal / More Layoffs until about 500 people have been trimmed
Job cuts that have been happening for months, including some announced Monday, are part of the parent company’s effort to slash spending. The drip-drip-drip of layoffs at NBCUniversal continued Monday with some New York-based television personnel getting their pink slips. The layoffs are part of a months-long concerted effort by parent Comcast to rein in … Continue reading
‘Obamacare Layoffs’ / Overblown ?
“Obama Reelection Triggers Massive Layoffs Across America.” “Job loss an early consequence of election.” “Obama keeps job; others lose theirs.” “The Obamacare Layoffs Begin…” “Top US Companies Plan Layoffs Because of Obamacare.” These are some of the headlines coming out of media sources like the Washington Times, the National Review, and Fox News since President … Continue reading
Evidences suggests that structural unemployment is worsening in many countries
Since the onset of the Great Recession, there has been a change in the relationship between the unemployment rate and vacancy rate in the U.S.” write Bart Hobijn and Aysegul Sahin in Beveridge Curve Shifts across Countries since the Great Recession on frbsf.org. (Choosen excerpts by JMM to follow) This relationship, summarized by the Beveridgecurve, was remarkably … Continue reading
US / Nonprofit Sector is Growing Faster than Rest of the Economy
The nonprofit sector’s growth in total wages and employees outpaced government and business between 2000 and 2010, The Nonprofit Almanac 2012 shows. The volume was published this week by the Urban Institute Press. Even during and after the recession, from 2007 to 2010, nonprofit employment grew 4 percent and wages increased 6.5 percent, while they … Continue reading
NBC Universal – To Cut About 450 Jobs
Comcast Corp. (CMCSA)’s NBC Universal is cutting about 450 jobs at several divisions of the broadcast, film and cable company, according to two people with knowledge of the situation. The reductions, some of which have taken place already, amount to about 1.5 percent of NBC Universal’s 30,000 employees, according to the people, who weren’t authorized … Continue reading
India / Joyalukkas to create 10 000 more jobs in 3 years
Joyalukkas Group intends to jack up its workforce from the current level of 5,000 to 15,000 in the next three years, according to Joy Alukkas, chairman of the group. “By then we would open jewelry shops in 100 cities across the world. The chain currently has 85 outlets in different parts of India and abroad, … Continue reading
Rio Tinto / Layoffs to continue
Global miner Rio Tinto Ltd expects the recent round of layoffs and cost-cutting in Australia to continue as margins shrink due to rising production costs and falling commodity prices, a top executive said on Tuesday. “The rationalisation will continue,” Rio Tinto’s Australia chief executive, David Peever, said at a conference… Choosen excerpts by JMM from … Continue reading
Ireland / Cloud / LogMeIn to create 50 new jobs
Cloud and mobile computing tech firm LogMeIn Inc is to create 50 new jobs within the next year in Dublin as part of an IDA Ireland-backed investment. The city centre jobs will include a variety of European and international functions, including sales, customer support, marketing, finance and HR. Already 20 new employees are to start … Continue reading
Philadelphia – Hostess closings to cut 627 jobs
The closures in Seattle, St. Louis, and Cincinnati spared Hostess’ Northeast Philadelphia bakery, where 330 members of Local 6 of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union stopped working at 12:01 a.m. Saturday to protest wage and benefit cuts approved last month by a bankruptcy judge. “We’re fighting for our pensions, we’re … Continue reading
Europe | What Next for Airlines?
Despite relentless consolidation in the European airline industry over many years, few national carriers have disappeared entirely. Hungary’s Malev went bust earlier this year. Belgium’s Sabena is long gone. But most live on even if they have been absorbed by bigger rivals. Still, rarely has the pressure to cut costs to save national carriers proved … Continue reading
US | Unemployment Insurance | House Democrats push for extension
House Democrats are beginning their push for an extension of expanded federal unemployment benefits before more than 2.1 million workers lose them at year’s end. Ways and Means panel ranking member Sandy Levin (D-Mich.) and Rep. Lloyd Doggett (D-Texas) released a committee report on Monday arguing for quick action to extend benefits before they expire … Continue reading
Dallas | Wingspan Portfolio Advisors issues layoff to 459 employees
Wingspan Portfolio Advisors, a Carrollton-based loan servicing company, will layoff more than a quarter of its workforce at the end of the year. Wingspan issued a Workers Adjustment and Retraining Notification Act (WARN) letter on Nov. 5 to the Texas Workforce Commission informing them all 459 employees at the Dallas location will be terminated effective … Continue reading
UK | Southampton | Up to 300 job cuts
Up to 300 jobs will be cut by Southampton City Council when it publishes its budget later, according to trade unions Unison and Unite. The Labour-run council needs to find savings of about £30m for 2013-14 and has pledged to restore the pay of workers cut by the former Tory regime. Labour councillor Simon Letts … Continue reading
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