Job Market Monitor
Economy
Siemens-Unify – To cut 3,800 jobs
Unify – formerly Siemens Enterprise Communications – is cutting its workforce in half to focus on software over hardware. The vendor is slashing 3,800 jobs from its global headcount of nearly 7,700. Central Europe will be the worst hit, accounting for 50 percent of the cuts, according to a statement from the company. “This transformation is … Continue reading
Alitalia – Up to 2,500 layoffs expected says Italian Labor Minister Giuliano Poletti
Between 2,400 and 2,500 layoffs are expected at Italian flag carrier Alitalia once a major investment deal has been made final with Etihad Airways, Italian Labor Minister Giuliano Poletti said Tuesday. “At least with regard to those in the public sector. Then we will have to see, once there is substantial discussion between the two … Continue reading
Siemens – To cut 11,600 jobs but CEO calls job cut reports incorrect
German industrial giant Siemens plans to eliminate around 11,600 jobs around the world as part of a major restructuring, a company spokesman says. “These jobs will be cut,” the spokesman told AFP on Friday, confirming remarks made by chief executive Joe Kaeser to a conference of investors and analysts in New York on Thursday. The … Continue reading
France – Unemployment rate hit record high in April
New official figures show that the number of the registered unemployed people in France reached a record high in April.According to the statistics released by the French Labor Ministry on Wednesday, the number of the jobless increased by 14,800 in April 2014 to a record high of 3,364,100.This is while economists had predicted a smaller … Continue reading
UK – Antidepressant use soared during the recession with 12.5m more pills prescribed in 2012 than in 2007
The use of antidepressants rose significantly in England during the financial crisis and subsequent recession, with 12.5m more pills prescribed in 2012 than in 2007, a study has found. Researchers from the Nuffield Trust and the Health Foundation identified a long-term trend of increasing prescription of antidepressants, rising from 15m items in 1998 to 40m … Continue reading
Unemployment in Germany – Biggest rise in five years in May
German unemployment posted its strongest monthly rise in over five years in May, but the Labour Office said mild winter weather was largely to blame for the unexpectedly weak figures. The number of people out of work increased by 24,000 to 2.905 million on a seasonally-adjusted basis, data showed on Wednesday. It was the largest … Continue reading
The Changing Economy – Infographic from the US Census Bureau
The Changing U.S. Economy – U.S. Census Bureau.
New York City – Job growth has been concentrated at the higher and lower ends of the skills distribution
New York City remains on strong growth trajectory, some weakness in Northern NJ to start the year, and signs of firming in Puerto Rico. A growing number of places in the region have gained back the jobs lost during the Great Recession. Types of Jobs Lost and Gained Middle-skill jobs were hardest hit during the recession and havenot come back. During the recovery, job growth has been concentrated at the higher … Continue reading
Hewlett-Packard – To cut another 16,000 jobs worldwide
Hewlett-Packard plans to cut as many as 16,000 more jobs as chief executive Meg Whitman intensifies her efforts to turn around the personal computer maker. Whitman, who has already axed 34,000 posts in her two years at the helm, said the fresh job cuts were necessary to streamline the business across its broad portfolio, which … Continue reading
Taiwan – April unemployment lowest in 6 years
Thanks to the improved economy, Taiwan’s unemployment rate was pegged at 3.91 percent, the lowest point in about six years, according to a report released by the Directorate-General of Budget, Accounting and Statistics (DGBAS) yesterday. It was the first time for the unemployment rate to go below 4 percent since the financial crisis. While companies … Continue reading
Latin America and the Caribbean – Urban unemployment fell to historic lows in 2013 ILO reports
In 2013, the urban unemployment rate in Latin America and the Caribbean once again fell to historic lows. The ILO estimates that the rate will reach 6.3% at the end of the year. This is good news for a region that had a double-digit unemployment rate a decade ago (11.1% in 2003). However, the impact … Continue reading
Unemployment in Gaza – A five-year high of 41%
The Palestinian Central Bureau of Statistics has reported that unemployment in the Strip has surged in the first quarter of 2014 to 41 percent, the highest rate since 2009. The number of unemployed persons stands at 180,000 people. A year ago, in the first quarter of 2013, the rate of unemployment was 30 percent – … Continue reading
US – Housing Starts vs Unemployment (Chart)
Housing stats lead unemployment figures anywhere from 6-18 months. The logic being that housing triggers not just construction hiring, but effects nearly every other industry as a “house” virtually houses products from every other industry. Ergo when housing recovers so too (generally) does employment in every other sector. Chosen excerpts by Job Market Monitor. Read the … Continue reading
Jobs in US – An Uneven Recovery by State (Map)
The map below tracks per capita job growth in U.S. states from 2010 to 2013. New Jobs Per 10,000 Residents (2010-2013) The map conforms to the pattern of an economy recovering around the twin pillars of energy and knowledge. North Dakota, the center of the natural gas boom, leads the way by a huge margin … Continue reading
Reshoring in US – Factory jobs returning matched the number lost last year
Although no one keeps precise statistics, the retreat from offshoring is clear from various sources, including federal data on assistance to workers hurt by overseas moves. U.S. factory payrolls have grown for four straight years, with gains totaling about 650,000 jobs. That’s a small fraction of the 6 million lost in the previous decade, but … Continue reading
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