Job Market Monitor
Economy
Europe – The recession is really a depression
Eurozone GDP still hasnt gotten back to its 2007 level, and doesnt look like it will anytime soon. Indeed, it already wasnt clear if its last recession was even over before we found out the eurozone had stopped growing again in the second quarter. And not even Germany has been immune: its GDP just fell 0.2 percent … Continue reading
Economics 101 – The three types of unemployment
Economists often refer to three types of unemployment: “frictional”, “cyclical” and “structural”. Cold-hearted economists are not too worried about the first two, which refer to people moving between jobs and those temporarily laid-off during a downturn. The third kind refers to people who are excluded—perhaps permanently—from the labour market. In econo-speak, structural unemployment refers to … Continue reading
Cisco – To cut 6,000 jobs
Cisco will cut its worldwide staff by 6,000 in the coming months as it battles against slow growth, particularly in emerging markets, where the demand for high-end switches and routers don’t have such high demand. The company hasn’t revealed which roles will be affected, nor in which territories, but it says the action had to … Continue reading
Deere – To cut over 600 factory jobs
Agricultural machinery maker Deere & Co. (DE: Quote) said it would reduce the size of its manufacturing workforce at some agricultural equipment factories in response to current market demand for its products. The action would place more than 600 employees at four locations on indefinite layoff. via Deere To Cut Over 600 Factory Jobs At … Continue reading
Growth in Europe vs US – It’s getting worse
Economic growth in Europe came in at zero in the second quarter of 2014. That’s better than being in recession. But it’s not the growth that Europe — with its huge unemployment rate of 12 percent, or roughly 19,130,000 people out of work — needs. The eurozone (below in blue) has been in a depression … Continue reading
Canada’s False Job Report – EI claims on hold while StatCan fixes error
Statistics Canada’s decision to pull its latest jobs report forced officials to put employment insurance claims on hold and triggered a flood of speculation from economists as to what Friday’s updated numbers will reveal. Approvals for EI claims are partly based on regional unemployment rates, but officials say staff will be able to manage the … Continue reading
UK – Employment rate for people aged from 16 to 64 near record high but regular pay annual growth rate lowest on record
Key Points for April to June 2014 Comparing the estimates for April to June 2014 with those for January to March 2014, employment continued to rise and unemployment continued to fall. These changes continue the general direction of movement over the past two years. There were 30.60 million people in work, 167,000 more than for … Continue reading
Jobs Openings in US in June 2014 – Increased to 4.7 million, highest since 2001
Jobs openings increased in June to 4.671 million from 4.577 million in May. This is the highest level since February 2001. Chosen excerpts by Job Market Monitor. Read the whole story at Calculated Risk: BLS: Jobs Openings increased to 4.7 million in June, Highest since 2001.
US – Headcount additions remain highly targeted in the face of ongoing skills gaps and rising wage pressure says PwC
In the first quarter of this year, 63% of Trendsetter companies told us they’d add staff in the next quarter, the highest level we’ve seen in several years. So we weren’t particularly surprised when the US Bureau of Labor Statistics announced that June’s unemployment rate had dropped to 6.1%. In fact, average unemployment in 2Q14 … Continue reading
Australia, Jul 2014 – Unemployment jumps to 12-year high
Australia’s unemployment rate increased by 0.3 percentage points (based on unrounded estimates) to 6.4% in July 2014 (seasonally adjusted). The increased unemployment rate resulted from increased participation with the number of persons in the labour force increasing by 43,400 persons, and the number of employed persons decreasing by 300. The net result was the number … Continue reading
Canada – July 2014 Job Report – Overall employment unchanged, unemployment at 7.0%
Overall employment was unchanged in July, as gains in part-time work were offset by losses in full time. A decline in the number of people searching for work pushed the unemployment rate down 0.1 percentage points to 7.0%. In the 12 months to July, employment increased by 115,000 or 0.7%, with all the growth in part-time work. The total hours worked were unchanged … Continue reading
Pension economic impacts in US – 6.2 Million Jobs, $943 Billion
A new economic impact study finds that pension benefit expenditures provide important economic support to the economy, including more than $943 billion in total economic output and 6.2 million jobs in the United States. Pensionomics 2014: Measuring the Economic Impact of Defined Benefit Pension Expenditures reports the national economic impacts of public and private pension … Continue reading
US Job Report for July 2014 – Total nonfarm payroll employment increased by 209,000 and UR little changed at 6.2 percent
Total nonfarm payroll employment increased by 209,000 in July, and the unemployment rate was little changed at 6.2 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, manufacturing, retail trade, and construction. Household Survey Data Both the unemployment rate (6.2 percent) and the number of unemployed persons … Continue reading
Bombardier – More job cuts planned
Canada’s Bombardier Inc plans to cut more jobs and halt new hiring to help save costs, it said on Thursday, and added that commercial talks for a Russian assembly plant are ongoing despite sanctions. Bombardier, which manufactures planes and trains, also sought to allay worries about the pace of its cash burn after posting higher … Continue reading
Colombia – Unemployment at 9.2% in June
The National Administrative Department of Statistics (DANE) issued a report on Thursday that covered statistics regarding Colombia’s labor market, demonstrating that unemployment from April – June 2014 was at 9.0%; down .6% from the same time period in 2013, Bogota’s W Radio reported. Additionally, the report showed that the unemployment rate was 9.2% in June 2014 … Continue reading
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