Job Market Monitor
Economy
Australia – Carbon tax won’t hurt jobs according to OECD’s Report
Australia’s carbon tax is expected to have at most a moderate effect on employment within the country, the Organisation for Economic Co-operation and Development (OECD), predicts. According to the OECD’s Employment Outlook 2012, “environmental taxes” were predicted to have a “modest overall effect on employment and little impact on the demand for skills”. “Fossil-fuel industries … Continue reading
The Skills Gap Fallacy
We can have a philosophical debate about which came first — the chicken or the egg. But when it comes to job creation there should be no such argument. Organizations and individuals who create new organizations are the chicken — they are the job creators. Employees and skilled workers are the eggs — they are … Continue reading
Is America falling behind in the Talent War ?
The search for skills has been a daunting task for U.S. companies trying to find the right person to fill well paying and highly skilled jobs. Despite high unemployment rates, many employers report they’re struggling in the job matching process, frequently complaining that there’s a mismatch between the available domestic workforce and the skills they … Continue reading
Private sector job recovery stronger than that of early 2000 and at par with that of early 90s
The U.S. economy is working its way back from the Great Recession. One indication has been that unemployment insurance claims have steadily fallen since September and they are now at the same level as in March of 2008. Additionally, layoffs are at the same level as in 2006. We also recently learned that the ratio … Continue reading
US – Unemployment Claims : The good news didn’t last
In the week ending July 14, the advance figure for seasonally adjusted initial claims was 386,000, an increase of 34,000 from the previous week’s revised figure of 352,000. The 4-week moving average was 375,500, a decrease of 1,500 from the previous week’s revised average of 377,000. (SEASONALLY ADJUSTED DATA) The advance seasonally adjusted insured … Continue reading
Lost jobs aren’t coming back and new skills are needed
Do we expect the jobs that resulted from the housing boom to once again come to the rescue of low-wage Americans? The run-up in home prices that triggered the jump in construction and local spending was relatively short-lived, and home prices have returned to the levels where one might expect them to be, based on … Continue reading
India – Can economic data be trusted?
Economists and investors say they are finding it increasingly hard. “Market participants are not able to decide what to make of this data,” said Brinda Jagirdar, economist at the State Bank of India. Frequent and sharp revisions in inflation and factory output data—key determinants of monetary policy—have confounded experts in recent months. On Monday, India’s inflation for … Continue reading
Unemployment – What Bernanke said at Congress
…Given that growth is projected to be not much above the rate needed to absorb new entrants to the labor force, the reduction in the unemployment rate seems likely to be frustratingly slow. Indeed, the central tendency of participants’ forecasts now has the unemployment rate at 7 percent or higher at the end of 2014… … Continue reading
EU – A €2bn stimulus package for 13,000 jobs
Details of the programme were announced at Government Buildings by Taoiseach Enda Kenny, Tánaiste Eamon Gilmore, and Minister for Public Expenditure Brendan Howlin. The funding for the programme will come from loans from the European Investment Bank, the National Pensions Reserve Fund, domestic bank loans and other potential private investment sources. Mr Kenny confirmed that … Continue reading
Find Higgs particle and face layoffs
An Italian institute heavily involved in the discovery of the Higgs particle is facing layoffs as the state slashes public spending on science to balance the budget. Italy’s National Institute for Nuclear Physics (INFN) was informed of the budget cuts two days after the Higgs particle was spotted. The discovery is considered one of the … Continue reading
Technology sector layoffs surge as Hewlett-Packard cuts job cut
Planned layoffs that will impact 30,000 workers at computer giant Hewlett-Packard helped push job cuts announced by technology-sector firms to their highest level in three years, according to a report on tech-sector downsizing released Monday by global outplacement firm Challenger, Gray & Christmas, Inc. Technology firms, including those in computer, electronics, and telecommunications, combined to … Continue reading
Jobs Gap – Fair Trade: The missing element in all the existing plans
If the U.S. is to cut unemployment to about 4.5 percent, which most economists consider to be full employment, the nation must ultimately create more than 16 million new jobs across the entire economy. That is in addition to finding jobs for the 12 million net new entrants into the work force, which the Labor … Continue reading
UK – A Campaign for a Public Inquiry into the Economic Crisis – International Business Times
Long before calling for public inquiries was made fashionable by the Labour party, one group of angry, politically cognisant members of the public decided that enough was enough with politicians, bankers, and the economy. The Campaign for an Independent Inquiry into the Economic Crisis in the UK, as it is not-so-pithily named, has struggled to … Continue reading
US – Unemployment Claims : A very welcomed four-year low
(Excerpts from the Press Release) In the week ending July 7, the advance figure for seasonally adjusted initial claims was 350,000, a decrease of 26,000 from the previous week’s revised figure of 376,000. The 4-week moving average was 376,500, a decrease of 9,750 from the previous week’s revised average of 386,250. The advance seasonally adjusted insured unemployment rate was … Continue reading
Neither Obama nor Romney Will Jump Start Jobs Growth
Last week’s weak unemployment report was bad news. But here’s an even more sobering piece of news. Even with jobs playing a central role in the campaign, neither Barack Obama nor Mitt Romney is going to turn things around anytime soon. Here’s the problem, in a nutshell: Obama has a plan for job creation but … Continue reading
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