Job Market Monitor
Economy
Germany – Unemployment drops for first time in three months
German unemployment fell for the first time in three months in a sign that Europe’s largest economy is gathering pace after a second-quarter slowdown. The number of people out of work dropped a seasonally adjusted 12,000 to 2.9 million in July, the Nuremberg-based Federal Labor Agency said today. Economists forecast a decline of 5,000, according … Continue reading
Singapore – Unemployment rates in Q2 hold steady at 2.0 per cent
Overall unemployment rate in Singapore remained at 2.0 per cent, but total employment growth slowed in June, according to the Ministry of Manpower’s figures. Fewer workers were laid off from April to June, when compared to the previous three months. Preliminary estimates released by the Manpower Ministry’s Manpower Research and Statistics Department on Thursday (July … Continue reading
Ireland – Unemployment rate hits five-year low of 11.5%
The number of people signing on the Live Register fell again this month as conditions in the labour market continue to improve. The latest set of figures from the Central Statistics Office (CSO) showed the number of claimants on the register dropped by 3,400 in July, the 25th consecutive monthly drop. As a result, the … Continue reading
Philippines – 1.65 million more employed in April from a year ago
From 37.01 million in April 2013, the number of employed Filipinos rose to 38.66 million during the same period this year, or an increase of 1.65 million jobs nationwide. This was reported on Wednesday by Labor Secretary Rosalinda Baldoz, citing the April 2014 Labor Force Survey of the Philippine Statistics Authority (PSA). Barring any major … Continue reading
Unemployment in Europe in June – 11.5% for the Euro Area, 10.2% for the EU28 and 5.129 million young persons under 25
The euro area (EA18)* seasonally-adjusted unemployment rate was 11.5% in June 2014, down from 11.6% in May 20144, and from 12.0% in June 2013. This is the lowest rate recorded since September 2012. The EU28 unemployment rate was 10.2% in June 2014, down from 10.3% in May 2014, and from 10.9% in June 2013. This … Continue reading
Amgen (Biotechnology) – To cut between 2,400 and 2,900 jobs
Biotechnology company Amgen (IW 600/67) announced Tuesday that it will cut between 2,400 and 2,900 jobs and shutter two facilities in the United States in a reorganization to save money. Amgen (AMGN) plans to close facilities in Washington and Colorado as it cuts 12% to 15% of its workforce, with most of the job losses … Continue reading
Japan – Unemployment rises to 3.7% while job offer at 22-year high
The jobless rate rose for the first time in almost a year in June, while the ratio of job offers to seekers hit a 22-year high, official data showed Tuesday. The unemployment rate edged up to 3.7 percent in June from 3.5 percent the month before, the internal affairs ministry said. It was the first … Continue reading
Canada – The Job Market is worse than it appears
Employment Rate for 25-54 Year Olds To control for demographic effects, we take out groups that are often still in school (24 years and younger) or can potentially enter early retirement (55 and up). There are other endpoints we can use, but limiting the discussion to 25-54 year olds is the most common approach. Under … Continue reading
India – Proposition of a textile policy to create 35 million more jobs
An expert panel constituted by the government on Monday submitted the draft of the new National Textiles Policy, which aims to achieve $300 billion exports by 2024-25, and creation of additional 35 million jobs by attracting investments. The blueprint termed as the draft ‘Vision, Strategy and Action Plan’ to revitalize the textiles and apparel industry … Continue reading
UK – The recovery is over as the comes economy back at pre-crisis level
Key points (ONS) Change in gross domestic product (GDP) is the main indicator of economic growth. GDP increased by 0.8% in Q2 2014, the second consecutive quarter on quarter increase of 0.8%. Output increased in two of the four main industrial groupings within the economy in Q2 2014 compared with Q1 2014. In order of … Continue reading
Spain – First time unemployment is below 25% in two years
The unemployment rate in Spain has fallen below 25% for the first time in two years, thanks to the beginning of a revival in the economy. An extra 402,000 people started work in the second quarter of the year, boosted by the seasonal upturn in tourism. That helped to push the official jobless rate down … Continue reading
Bombardier – 1,800 jobs to be cut
Bombardier Aerospace president and CEO Guy Hachey is retiring after six years in the post amid a restructuring of its operations that will result in the layoff of 1,800 employees. The Montreal-based company (TSX:BBD.B) says its aerospace division will operate in three segments — business aircraft, commercial aircraft and aerostructures and engineering services — each … Continue reading
Ethiopia – Cheap labor and electricity attract investment
A combination of cheap labor and electricity and a government striving to attract foreign investmentmakes Ethiopia more attractive than many other African nations, said Deborah Brautigam, author of “The Dragon’s Gift: The Real Story of China in Africa” and a professor of international development and comparative politics at Johns Hopkins University’s School of Advanced International … Continue reading
Allergan – To cut about 1,500 jobs
Allergan Inc., the maker of the wrinkle remover Botox, will cut 1,500 jobs and eliminate another 250 vacant positions as it tries to fend off a hostile takeover from Valeant Pharmaceuticals International Inc. The job cuts, representing 13 percent of Allergan’s global workforce, and further restructuring will lead to savings of about $475 million next … Continue reading
Microsoft – To cut 18,000 jobs at Nokia
Microsoft Corp will slash up to 18,000 jobs, or 14 percent of its workforce, this year as it almost halves the size of its newly acquired Nokia phone business and tries to transform into a cloud-computing and mobile-friendly software company. The larger-than-expected cuts, announced on Thursday, are the deepest in the company’s 39-year history and … Continue reading
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