Job Market Monitor
Economy
Sprint – To cut 2000 jobs
Sprint Corp (S.N) announced on Monday it will fire 2,000 employees and it cut its 2014 adjusted earnings forecast as the company attempts to reduce costs and turn around several quarters of losses. The layoffs are expected to lower labor costs by $400 million a year and are the latest job cuts by the third … Continue reading
Economic crisis has led to crisis in the field of macroeconomics writes Lawrence Summers
Economic crisis has led to crisis in the field of macroeconomics. The idea that depressions were a concept of only historic interest has been belied by the financial crisis and “Great Recession”. Figures 1a and 1b depicts the gap between actual and potential output estimated as of various dates for both the US and the … Continue reading
Lanxess – To cut up to 1,200 jobs
German chemicals maker Lanxess may slash up to 1,200 jobs, or about 7 percent of its total workforce, as part of a group-wide overhaul to counter overcapacity in the synthetic rubber industry, German daily Rheinische Post reported. The world’s largest maker of synthetic rubber plans to offer voluntary redundancy packages and early retirement schemes but … Continue reading
Singapore – Unemployment at 1.9 per cent
Unemployment in Singapore remained “low and steady” in the third quarter, despite an increase in layoffs due to business restructuring, the Ministry of Manpower said on Friday (Oct 31). The overall seasonally-adjusted unemployment rates held steady over the quarter in September – from 2 per cent in the second quarter to 1.9 per cent. Chosen … Continue reading
Latin America – Employment growth is likely to remain subdued for some time
Employment growth is likely to remain subdued for some time, as changes in labor markets typically lag those in the overall economy, and output growth is not expected to revert to the high rates of the “golden decade” anytime soon. In this context, unemployment rates will probably rise somewhat and real wage growth may well … Continue reading
Germany – Unemployment rate at 6.7 percent in August for the eighth consecutive month
Germany’s unemployment rate fell to 6.3 percent in October as the labor market in Europe’s biggest economy continued to gain steam. The Federal Statistical Office said Thursday 2.733 million people were jobless in October, 75,000 fewer than in September, when the unemployment rate was 6.5 percent. Adjusted for seasonal trends, the jobless rate stood at … Continue reading
Microsoft – Cuts another 3,000 jobs, reaching almost 18,000 cuts overall
Microsoft this morning cut an additional 3,000 jobs from its workforce around the world, saying it has now completed almost all of the 18,000 job cuts that were announced by CEO Satya Nadella in July. About 638 of the job cuts are in the Seattle region. That brings the regional total to more than 2,700 positions … Continue reading
STEM in US – The barriers to entry are also lower than most think.
With the expansion of advanced technologies and processes into more and more fields, the science, technology, engineering and math (STEM) economy is much bigger than many imagine and the barriers to entry are also lower than most think. Occupations like pipefitting and welding require only a high school diploma plus technical training to start. In … Continue reading
US – Almost all of the private sector jobs have been created by businesses less than five years ol
Amid the political maneuvering, there is, happily, some serious work being done by the Kauffman Foundation and the Institute for Competitiveness & Prosperity to figure out where new jobs actually do come from. The surprising truth is that over the last twenty five years, almost all of the private sector jobs have been created by … Continue reading
Canada – To what extent has employment growth slowed among core-age workers? and other questions
Question: How does employment growth compare with economic growth in the post-recession period? Question: How does the composition of employment growth in recent years compare with employment gains in the early to mid 2000s? Question: How does employment growth in goods industries compare to service industries? Question: To what extent has the pace of private … Continue reading
Well-Being since 1820 – An OECD study
How was life in 1820, and how has it improved since then? What are the long-term trends in global well-being? Views on social progress since the Industrial Revolution are largely based on historical national accounting in the tradition of Kuznets and Maddison. But trends in real GDP per capita may not fully reflect changes in … Continue reading
Lloyds Bank – Profits up by 41% and 9,000 layoffs
The Lloyds Bank results are out this morning: Profits in the third quarter are up an impressive 41%, but Britain’s second-biggest bank is laying off 9,000 employees and closing 150 branches. via Analysts On 9,000 Layoffs By Lloyds Bank – Business Insider.
Air France-KLM – To cut 7,500 jobs
The Dutch arm of Air France-KLM (AIRF.PA) plans to cut its workforce by 7,500 jobs, or 25 percent, largely through outsourcing, a Dutch daily newspaper reported on Tuesday. The measure is expected to be announced at the release of quarterly earnings by the French-Dutch carrier on Wednesday, the Algemeen Dagblad said, citing the head of … Continue reading
Kohl’s – 67,000 hirings to come this holiday season
Kohl’s Department Stores of Menominee Falls, Wis. announced it anticipates hiring more than 67,000 associates nationwide this holiday season to support seasonal business in stores and growth on Kohls.com. Chosen excerpts by Job Market Monitor. Read the whole story at Kohl’s plans to hire 67,000 associates this holiday season, averaging 50 per store.
Alitalia – To cut 1,000 jobs
Italy’s largest airline Alitalia could cut up to 1,000 jobs, according to reports this weekend by Italian news agency Adnkronos. The agency cited a document signed by the airline’s management and several unions which states the airline will cut 879 ground crew, 61 pilots and 54 air stewards. The report suggests employees with receive letters of … Continue reading
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