Job Market Monitor
Economy
US – Labor Market Slack Persisted Federal Reserve Bank of Atlanta writes
Shifting labor force participation clouded unemployment picture Although the labor force participation rate (LFPR) has trended down since early 2000 (when the LFPR was 67 percent), the recession exacerbated the decline (see the Labor Force Participation Rate chart). At the end of 2014, roughly 62.7 percent of the working age population was either employed or … Continue reading
Mobile Internet – Creates jobs for about 3 million people in the 13 countries BCG estimates
Revenues are only one part of the picture. The mobile Internet is a major job-growth engine as well. We estimate that it has created employment for about 3 million people in the 13 countries we studied. Many of these jobs are in Asia, where the manufacturing of mobile devices is centered. But the rapid growth … Continue reading
Sharp – To cut 6,000 jobs
Japan’s loss-making Sharp Corp (6753.T) intends to cut 12 percent of its workforce in a global restructuring expected to cost more than $1.7 billion, a person familiar with the plan said on Thursday. The job cuts will total around 6,000, half of which would come in Japan through early retirement while the rest would be … Continue reading
Job vacancies in Canada in December 2014 – 5.0 unemployed people for every job vacancy down from 6.2 a year before
Canadian businesses reported 233,000 job vacancies in December, up 30,000 compared with 12 months earlier. For every job vacancy, there were 5.0 unemployed people, down from 6.2 in December 2013. This decline in the ratio was the result of both fewer unemployed people and more job vacancies. Unemployment-to-job vacancies ratio declines in four provinces In Nova Scotia, there were 6.6 unemployed people for every job vacancy, down from 10.6 in … Continue reading
Canada, February 2015 – The unemployment rate rose by 0.2 percentage points to 6.8%
Employment was unchanged in February, while the unemployment rate rose by 0.2 percentage points to 6.8% as more people searched for work. In the 12 months to February, employment increased by 130,000 (+0.7%) with most of the growth in the second half of the period. Compared with February 2014, full-time employment rose by 121,000 (+0.8%), while there was little change in part-time work. Over the … Continue reading
US Job Report for February 2015 – Total nonfarm payroll employment increased by 295,000
Total nonfarm payroll employment increased by 295,000 in February, and the unemployment rate edged down to 5.5 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in food services and drinking places, professional and business services, construction, health care, and in transportation and warehousing. Employment in mining was down over the month. … Continue reading
Japan – Three measures of slack in labor markets
How likely are Japan’s workers to see a bumper salary increase? The latest labor market data — showing a 1.3 percent annual increase in wages in January — is a hopeful sign. A more detailed answer comes from examining alternative measures of slack in the labor market. Chosen excerpts by Job Market Monitor. Read the whole … Continue reading
US – Most (60%) see only a partial recovery in jobs Pew finds
The public makes sharp distinctions about which groups have benefited – and which have not – from the economic policies the government has put in place since the start of the recession. Majorities say that large banks, large corporations and the wealthy have been helped a great deal or a fair amount by government policies. … Continue reading
Unemployment Rate in France – The highest in at least 16 years
French unemployment hit an eye-watering 10.4% in the final three months of 2014, according to statistics just released. That’s the highest in at least 16 years for France — comparable records go back to 1998. Chosen excerpts by Job Market Monitor. Read the whole story at France unemployment record high Q4 2014 – Business Insider. Source: The unemployment … Continue reading
Mid-Market Enterprises (MMEs) – Directly employ 169 million people across 15 countries and territories spanning Asia, Europe, the Middle East and the Americas
HSBC today released a global report highlighting the unsung role that mid-market enterprises (MMEs) play in the life of nations. The report, titled Hidden Impact: The vital role of mid-market enterprises and commissioned by HSBC from Oxford Economics, showcases the enormous contribution to Gross Domestic Product (GDP), employment, and the supply chain that MMEs contribute … Continue reading
Royal Bank of Scotland (RBS) – To cut 14,000 jobs by 2019
The UK’s state-rescued Royal Bank of Scotland (RBS) is set to cut up to 14,000 jobs in its investment banking units across the United States and Asia by 2019, the Financial Times reported on Wednesday. The number amounts to 80 percent of the jobs in the RBS’s investment banking sector, which is scheduled to experience … Continue reading
Italy – Unemployment slowing for a second consecutive month
Unemployment in Italy stood at 12.6 per cent in January, slowing for a second consecutive month and returning to its level a year ago, according to national statistics agency Istat: In January 2015 22.320 million persons were employed, essentially unchanged over December 2014. Unemployed were 3.221 million, -0.6% with respect to the previous month. Chosen … Continue reading
Unemployment in Euro Area – The lowest rate recorded since April 2012
The euro area (EA19) seasonally-adjusted unemployment rate was 11.2% in January 2015, down from 11.3% in December 2014, and from 11.8% in January 2014. This is the lowest rate recorded in the euro area since April 2012. The EU28 unemployment rate was 9.8% in January 2015, down from 9.9% in December 2014 and from 10.6% … Continue reading
Canada – Still 270,000 jobs short of full employment says Carolyn Wilkins, Governor Stephen Poloz’s top deputy,
The economy is still 270,000 jobs short of full employment Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech Growing angst about the sluggish pace of job creation could provide more cover for the Bank of Canada to lower interest rates again. Carolyn Wilkins, Governor Stephen Poloz’s top deputy, warned in a speech … Continue reading
US – The 2015 Economic Report of the President on the labor market
Chapter 3 of [The 2015 Economic Report of the President] addresses the opportunities and challenges facing the U.S. labor market. The sharp drop in unemployment in 2014 came amid a stabilization in the labor force participation rate and the strongest annual job growth since the 1990s as businesses added more than 3 million jobs. But … Continue reading
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