Job Market Monitor
Economy
Unemployment in the US / The top problem for people finds Gallup
Americans have a new No. 1 problem. Nearly one in four Americans mention jobs and unemployment as the most important problem facing the country, up from 16% in January. The government and politicians had topped the list since the government shutdown in October. Chosen excerpts by Job Market Monitor. Read the whole story at Unemployment Rises to … Continue reading
Outsourcing at Delta / To lay off 741 in Detroit
Atlanta-based Delta Air Lines Inc will job out maintenance and service worker jobs at Detroit Metropolitan Wayne County Airport with layoff notices coming in April, reports The Detroit News. The job cuts affect 741 workers, but just how many will remain out of work is unclear, the paper said. Chosen excerpts by Job Market Monitor. Read … Continue reading
IBM / to cut 15,000 jobs, starting in India
Technology giant IBM has started a restructuring process, which would see as many as 15,000 jobs being cut globally, including India, Brazil and the European region. “The estimate of jobs cut globally is 15,000,” international coordinator at the Alliance@IBM (official IBM employees union) Lee Conrad told PTI. Though the exact number of job cuts in … Continue reading
Greece / Unemployment rises to 28 pct in November
Unemployment registered a new record in Greece in November as the jobless rate climbed to 28 percent from 27.7 percent in October and 26.3 percent in November 2012, according to data released on Thursday by the Hellenic Statistical Authority (ELSTAT). The figures showed that the number of unemployed grew by almost 1 million (991,000) in … Continue reading
Labor markets improved overall across the advanced economies finds The Conference Board International Labor Comparisons
Labor markets improved overall across the advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons program for December 2013. The unemployment rate in December fell in three of the nine countries compared, was unchanged in four, and rose in two. The U.S. and Japan … Continue reading
Barclays / 12,000 confirmed job cuts this year
British bank Barclays said Tuesday it planned to axe between 10,000 and 12,000 jobs this year, including 7,000 in Britain. The bank, which now employs 140,000 people worldwide, described the job cut as an effort made to lower costs. The cuts will involve 820 management persons, including 220 senior ones. The Barclays chief executive Antony … Continue reading
China / Balanced economic reforms for continued job creation
Taken at face value, China’s recent 2013 jobs data present a healthy picture of growing employment. The government reported a “record high” 13.1 million new urban jobs were created and, despite slowing GDP, headline unemployment remained relatively low at 4.1 percent. This led government spokesman Li Zhong to assert that the Chinese economy is “more … Continue reading
Russia / Big Companies Cutting Staff
A slew of announced layoffs is rattling the domestic labor market, threatening to further undermine a weak economy. Russia’s two largest banks, state-owned Sberbank and VTB, have joined the country’s biggest carmaker, AvtoVAZ, in declaring significant staff reductions in the upcoming months. VTB Group disclosed last month that it would cut employees and the salaries of remaining staff at its core business, VTB bank, and its investment arm, … Continue reading
HP cuts in UK / Over 700
HP is to axe the jobs of hundreds of UK staff before May. National officer for IT and communications for trade union Unite, Ian Tonks, told The Channel Register that 782 UK staff were to be made redundant before the end of HP’s Q2 2014, which finishes on April 30th. Another 7,100 jobs are due … Continue reading
Obamacare and Jobs / CBO Says Relax Everyone
Last week, the non-partisan Congressional Budget Office issued its analysis of Obamacare — the Affordable Care and Patient Protection Act — finding that under the act, about 2.5 million workers would leave the workforce by 2024 as a result of the act’s provisions. Republicans immediately seized on the CBO finding, claiming the report proved that … Continue reading
Toyota to Close in Australia / Around 2,500 will lose their jobs
Toyota has made the “heart-breaking” announcement that it will stop making cars in Australia in 2017, bringing an end to the nation’s car manufacturing sector. Around 2,500 Toyota workers will lose their jobs, while the loss of the wider automotive industry will put tens of thousands more jobs at risk. Chosen excerpts by Job Market … Continue reading
Lybia / Public sector employs more than 80 percent of workforce, the private sector just 4 percent
“Libya’s labour market is skewed toward the public sector, which employs more than 80 percent of the formal workforce, while the private sector employs just 4 percent of Libyans”, the World Bank reported in its latest January MENA Quarterly Economic Brief. “Furthermore”, the report continued, “attractive wages and benefits offered by the public sector have … Continue reading
US / Self-Employment is down 9% (936,000 jobs) since the beginning of the recession in 2006
It’s estimated that a whopping 10 million individuals, or 6.6% of all reported jobs, were self-employed in the U.S. as of 2013–however, that figure has declined significantly since the recession, according to a new report from CareerBuilder and Economic Modeling Specialists Intl. (EMSI). The number of self-employed workers is down 9% (936,000 jobs) since the … Continue reading
Canada Job Report / Employment rose by 29,000 in January
Employment rose by 29,000 in January, the result of an increase in full-time work. The unemployment rate declined 0.2 percentage points to 7.0%. Over the past 12 months, employment increased 0.8% or 146,000 and the number of hours worked rose 0.7%. During the same period, the employment rate fell 0.3 percentage points to 61.6% as employment grew at a slower pace than the population. Chart 1 Employment Employment increased in Prince … Continue reading
US Job Report / Employment rose by only 113,000 in January
From the official press release Total nonfarm payroll employment rose by 113,000 in January, and the unemployment rate was little changed at 6.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment grew in construction, manufacturing, wholesale trade, and mining. Household Survey Data Both the number of unemployed persons, at 10.2 million, and the unemployment rate, … Continue reading
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