Job Market Monitor
Economy
Europe – Deutsche Telekom to cut more jobs
Deutsche Telekom AG will have to cut more jobs to halt a slide in revenues in Europe, the German telecommunications company’s Europe chief told a German newspaper. Handelsblatt cited Claudia Nemat as saying in an interview that the company had struck an agreement with a trade union in Hungary over 500 jobs and was in … Continue reading
Europe – School Cuts Will Sacrifice the Future
When the European Students’ Union begins its biannual convention Wednesday in the Cypriot resort of Limassol, its leadership will be focusing on one issue: cutbacks in education. Governments in many countries in the European Union are cutting back so much on education that when the E.U. economy recovers, it will be difficult to sustain growth, … Continue reading
UE – SME: further policy boost needed to help in recovery
Europe’s Small and Medium Sized enterprises (SMEs) continue to strive for recovery. If we take the EU as a whole so far their overall efforts have mainly led to ‘jobless’ growth, as shown by diverging trends in the EU-27 Member States. Today in Brussels, the first day of the 2012 European SME week, the European … Continue reading
The world is stuck in a vicious cycle writes Lawrence Summers
If the global economy was in trouble before the annual World Bank and IMF meetings in Tokyo last week, it is hard to believe that it is now smooth sailing. Indeed, apart from the modest stimulus provided to the Japanese economy by all the official visitors and the wealthy financial sector hangers on, it is … Continue reading
American workers’ fears
As workers return to the office routine after their summer vacations this year, they are feeling more secure about the jobs they are returning to, but not feeling so swell about the size of their paychecks, according to a new survey. Just 4% of respondents in a survey by Harris Interactive ranked fear of being … Continue reading
Australia and China Job Markets Sharing Destiny
The last time Australia was mired in recession, Boris Yeltsin had yet to stand on a tank in Moscow, and the Clinton era hadn’t begun. In 1991, Australian trade with China was a modest A$3.6 billion (about the same in U.S. dollars). In the preceding decade unemployment had averaged 7.8 percent, as Australia struggled to … Continue reading
Monetary and fiscal policies will never suffice to reduce long-term unemployment
One of the main policies to reduce long-term unemployment is an active labor market policy. The OECD publishes each year data on Government investments in labor market programs like training and wage subsidies.
Gemany and the Scandinavian countries are champions of active labor market policies. This is well known. But, less known is the fact that the US are not. US investment in active labor market programs before the Great recession wasbelow the OECD average, nearly 4 times lower: 0.13% of GDP vs 0.48%.
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Taiwan – Hiring strongest in the world
Demands for workers by Taiwan employers in the fourth quarter are the strongest in the world, according to a survey by the Manpower Group released yesterday. The survey found 38 percent of Taiwan employers plan to hire in the October-December period. After seasonal adjustment, the figure translated into a fourth-quarter employment outlook index of 32 … Continue reading
Bank of England should focus on employment data
Ben Broadbent, a member of the Bank of England’s Monetary Policy Committee, said the link between employment and inflation had proved “more stable” throughout the financial crisis than those between “either of those variables and output”. “We should … Telegraph.co.uk http://www.telegraph.co.uk/finance/jobs/9539737/Bank-of-England-should-focus-on-employment-data-says-MPCs-Ben-Broadbent.html Envoyé via Flipboard Envoyé de mon iPad
Trina Solar Aggressively Cuts Jobs to Reduce Spending
Although the exact number of layoffs is not yet known, SPVI has learned from Solarzoom Market Centre that around 1,850 including 200 managers out of 15,000 employed are going to lose their jobs. Moreover, the company is operating under 75% utilization… http://solarpvinvestor.com/spvi-news/329-trina-solar-aggressively-cuts-jobs-to-reduce-spending-
Sweden – Unemployment rate increases of 0.6 percentage points at 7.2 percent
In August 2012 the number of employed persons aged 15-74 years amounted to 4 738 000. The number of unemployed persons amounted to 366 000, corresponding to an unemployment rate of 7.2 percent, an increase of 0.6 percentage points. On average the number of hours worked was 125.1 million per week. Seasonally adjusted data shows … Continue reading
Low-Skilled Immigrant Workers Are Vital Contributors To The Economy
The Republican National Committee reformed its immigration platform this month to favor a new guest worker program. Unfortunately, the party still seems unwilling to accept permanent low-skilled immigrants. These workers are critical to America’s … http://www.forbes.com/sites/realspin/2012/09/12/low-skilled-immigrant-workers-are-vital-contributors-to-the-economy/
GM’s Opel -1,000 German admin jobs cut
General Motors’ (GM.N) ailing Opel business in Europe plans to thin its administrative ranks by 30 percent, or 1,000 jobs, in its Ruesselsheim headquarters in Germany, newspaper Frankfurter Allgemeine Zeitung reported on Wednesday citing two unnamed board members. The cuts would be made voluntarily, without resorting to compulsory layoffs, the paper added. Opel said in … Continue reading
American Airlines – Tulsa maintenance base – 839 jobs cut
American Airlines will close its Fort Worth maintenance base by the end of the year, lay off 839 Tulsa mechanics and consolidate major aircraft maintenance operations in Tulsa and at Dallas-Fort Worth International Airport, company executives said Monday. More than 1,700 mechanics & related workers at American’s three aircraft overhaul bases will be laid off … Continue reading
Ormet – 200 layoffs in Ascension
The Ormet Corporation says about 200 of its 250 employees at its facility in Burnside, Louisiana will be laid off starting in November. The facility produces alumina, a white powder that is used in the manufacturing of aluminum. The product made at the Burnside facility is shipped along the Mississippi River to Ormet’s aluminum manufacturing facility in Ohio. Ormet … Continue reading
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