Job Market Monitor
Economy
Sony – 1,000 job cuts
The company plans to cut staff in its mobile communications business by about 15 percent, or roughly 1,000 people, Hirai said. Details of that plan are to be announced later. via Sony forecasts Y230 bil loss, 1,000 job cuts ‹ Japan Today: Japan News and Discussion.
Toshiba – To cut 900 jobs (PC)
Japan’s Toshiba Corp said it would cut 900 jobs in a restructuring of its PC business that will include an exit from business-to-consumer operations in some regions. via Toshiba says to cut 900 jobs in PC restructuring | Business | Reuters.
UK May to July 2014 Job Report – Employment continued to rise
Key Points for May to July 2014 Comparing the estimates for May to July 2014 with those for February to April 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement since late 2011/early 2012. There were 30.61 million people in work. This was 74,000 more than … Continue reading
The world’s 300 largest pension funds – Total assets grew by over 6% in 2013
Total assets of the world’s largest 300 pension funds grew by over 6% in 2013 (compared to around 10% in 2012) to reach a new high of almost US$15 trillion (up from US$14 trillion in 2012). The P&I / Towers Watson global 300 research is conducted in conjunction with Pensions & Investments, a leading US … Continue reading
Greece – Alpha Bank to cut 15 percent of jobs
Alpha Bank, Greece’s fourth biggest lender, opened a voluntary redundancy offer on Monday with a view to cutting 15 percent of its workforce to cut costs under a restructuring plan approved by the EU Commission, an official at the bank said on Monday. All four of Greece’s top banks have been restructuring but Alpha’s bigger … Continue reading
South Korea – Unemployment up at 3.5 per cent in August
South Korea’s unemployment rate inched up in August as agriculture and banking sectors continued shedding jobs, government data showed on Friday (Sep 12). The seasonally adjusted jobless rate rose to 3.5 per cent, up from the previous month’s 3.4 per cent, Statistics Korea said. via S Korea unemployment inches up in August – Channel NewsAsia.
Australia August 2014 Job Report – The largest monthly increase in jobs on record
The largest monthly increase in jobs on record has pushed the unemployment rate back down to 6.1 per cent. An estimated 121,000 jobs were added in August, which is well ahead of any previous monthly jobs gain recorded in ABS figures that go back to 1978. Economists had expected the unemployment rate to fall back … Continue reading
When the sharing-economy gets at your job
I love the sharing economy because it’s efficient. Got some spare time? Become a TaskRabbit! Spare space? AirBNB it! A car and nowhere to go? Drive for Uber or Lyft! The taxi industry is a regulatory-capture nightmare. Disrupt ‘em ’til they’re dead? Don’t mind if you do! …And yet our 21st-century sharing-economy dream is beginning … Continue reading
India to China – Set up manufacturing units
India today asked China to invest in setting up manufacturing units in the country to bridge the widening trade deficit and create jobs in the country. Commerce and Industry Minister Nirmala Sitharaman said India has signed an agreement with China in June to set up Chinese Industrial Parks in India. “We are expecting Chinese to … Continue reading
US – Employers are not hiring , they squeeze
As the August jobs report on Friday indicated, U.S. employers still aren’t hiring tons of employees on a consistent basis. Recent data from Sageworks, a financial information company, also suggest companies may have less incentive to absorb some of the slack in the labor market that Federal Reserve officials have highlighted in recent weeks. Privately held … Continue reading
Beveridge Curve “Shift” in US – There is no shift to begin with says Federal Reserve Bank of Cleveland
Observers have followed the Beveridge curve during the recession and the recovery to glean some insight into potential structural changes in the labor market. Whether or not a shift implies an actual structural change—specifically, a decline in the matching efficiency of the labor market—is still debatable. However, one thing is clear: there is no shift … Continue reading
Unemployment in Spain – August sees the first rise in unemployment after six months of improvement
A total of 8,070 people joined Spain’s jobless queues in August, the first rise in unemployment after six months of improvement, official figures released on Tuesday show. The rise means there were 4,427,930 Spaniards registered as looking for work at the country’s unemployment offices at the end of August, Spain’s employment ministry figures show. Chosen … Continue reading
Unemployment in OECD – 12.1 Million more than before the crisis and wages stagnate (video)
Unemployment will remain well above its pre-crisis levels next year in most OECD countries, despite modest declines over the rest of 2014 and in 2015, according to a new OECD report. The Employment Outlook 2014 says that average jobless rates will decrease slightly over the next 18 months in the OECD area, from 7.4% in mid-2014 … Continue reading
UK – Take account of unemployment before raising interest rates says TUC to Bank of England
TUC boss Frances O’Grady has urged the government to widen the Bank of England’s remit to take account of unemployment before Threadneedle Street considers raising interest rates. Speaking before the start of the TUC’s annual congress, when the Bank governor, Mark Carney, will make a speech, O’Grady said the success of the Bank’s interest rate … Continue reading
US Job Report for August 2014 – A disappointing employment increase of 142,000
Total nonfarm payroll employment increased by 142,000 in August, and the unemployment rate was little changed at 6.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services and in health care. Household Survey Data In August, both the unemployment rate (6.1 percent) and the number of unemployed … Continue reading
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