Job Market Monitor
Economy
UK – The 18-64 year age employment rate is at a record high
The 18-64 year age employment rate is at a record high The labour market data continue to show an extraordinary mix of very strong job growth and falling real wages: The number of people in work rose by 345K (1.1%) QoQ and 780K (2.6% YoY) in Feb-April, the highest QoQ gain in employment since data … Continue reading
Australia – Unemployment steady at 5.8%
Australia’s strong economic performance since the start of the year has failed to increase the number of people in work. The number of people in the workforce fell by 4,800 in May, figures released on Thursday showed, when economists were expecting an increase of 10,000. Although the number of full-time workers rose 22,200, it was … Continue reading
UK – Number of employed rose by a record 345,000, to 30.5 million, most of which are in full-time employment
Comparing February to April 2014 with November 2013 to January 2014, there was a large increase in employment and a large fall in unemployment. There was a further fall in the number of economically inactive people aged from 16 to 64. These changes continue the general direction of movement over the past two years.There were … Continue reading
Bouygues Telecom – To cut 1,500 jobs
Bouygues Telecom, France’s third-largest mobile operator by subscribers, plans to slash more than 15 per cent of its 9,000-strong workforce to stay alive in one of Europe’s most competitive markets. via Bouygues Telecom to cut 1,500 jobs in fight for survival – FT.com.
ICICI Bank – To cut 1,200 jobs
ICICI Bank, the countrys largest private sector lender by assets, has let go 1,200 of its staffers, and a few hundred may be on their way out as part of an exercise to cut flab, two people familiar with the development said. The retrenchment of staff across the board – from general managers to junior … Continue reading
Australia – 900 jobs cut at postal service
Australia Post has told its workers 900 jobs will go as part of a restructure that will split its post and parcel businesses.Australia Post has confirmed 900 jobs will be cut in the restructure. As fewer people post letters, and losses in that part of the business mount, the Government-owned company is planning to operate … Continue reading
Hiring in US – Fastest pace in almost 6 years
U.S. employers recently hiked their hiring to the fastest monthly pace in almost six years, a healthy sign for the U.S. labor market, according to government data released Tuesday morning. There were 4.71 million hires in April — the most since June 2008 – and up 6% from a year earlier and, according to the … Continue reading
US – The Job Gap is still near 7.0 million
Furthermore, it is an utterly meaningless benchmark economically. Because the working-age population and with it, the potential labor force is growing all the time, we should have added millions of jobs over the last six-plus years just to hold steady. That means that when we get back to the prerecession employment level, there will still be a … Continue reading
May Canada Job Report 2014 – Employment up by 26,000 but UR increased to 7.0%
Employment edged up by 26,000 in May, driven by gains in part-time work. The unemployment rate increased 0.1 percentage points to 7.0% as there were more people in the labour market. Overall employment growth has been subdued since August 2013. In the 12 months to May, employment increased by 86,000 or 0.5%, with all the growth in part time. Over the same period, the number of … Continue reading
May US Job Report – Employment rose by 217,000, returning employment to its pre-recession level, and UR unchanged
Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate was unchanged at 6.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, health care and social assistance, food services and drinking places, and transportation and warehousing. Household Survey Data The unemployment rate held at … Continue reading
US – Gallup’s Job Creation Index reaches a new high
Gallups U.S. Job Creation Index reached a new high in its more than six-year trend, registering +27 in May. The prior high had been +26 in the initial monthly measurement of January 2008, just as the recession was taking hold. The index is based on employee reports of hiring activity at their places of employment. … Continue reading
Migrants accounted for 47% of the increase in the workforce in the United States and 70% in Europe over the past ten years says OECD
The economic impact of migration has been intensively studied but is still often driven by ill-informed perceptions, which, in turn, can lead to public antagonism towards migration. These negative views risk jeopardising efforts to adapt migration policies to the new economic and demographic challenges facing many countries. This edition of Migration Policy Debates looks at … Continue reading
India – Labour-intensive jobs need to grow
Growth for employment creation needs to be given priority over everything else. The number of voters has gone up by a hundred million between 2009 and 2014. In other words, something like 20 million people are entering the job market each year. Add to that the need to move employment from the agricultural to the … Continue reading
Barclays / Hundreds investment bank jobs cut this week
Barclays Plc has this week cut several hundred jobs in its investment bank as part of its plan to shrink the business by 7,000 staff over the next three years to save costs, people familiar with the matter said. The cuts will mostly be in the fixed income, currencies and commodities FICC trading and markets … Continue reading
Colombias – Unemployment drops to 9%, lowest in 14 years in April
Unemployment in April has dropped to 9%, 1.2 percentage points less than in the same month last year and the lowest rate in 14 years, Colombia’s statistics agency announced Friday.According to statistics agency DANE, the April unemployment rate has dropped a total of 3.2 percentage points since 2010 when the administration of President Juan Manuel … Continue reading
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