Job Market Monitor
Economy
Spain / Unemployment rose by 113,097 in January
Spanish government figures show that the number of people registered as unemployed rose by 113,097 in January as temporary job contracts created over Christmas came to an end. The Labor Ministry said Tuesday that the reduction put the total number of those registered in unemployment offices at 4.81 million. Year-on-year, the figure was down 166,343. … Continue reading
Corporate Welfare / Doesn’t boost employment
Despite its popularity as a job-creation tactic, corporate subsidies tend to redistribute jobs from one community to another, not create new ones, says Milke. Last month, Kellogg’s announced it was shutting down a plant in southwestern Ontario and shifting some production to a company plant in eastern Ontario that had received millions in provincial support. … Continue reading
Volvo / To increase its job cuts to 4,400
World No.2 truck maker Volvo will increase its job cuts to 4,400, more than double its original plan, after currency effects and the cost of launching new models muted a rise in quarterly earnings. But Sweden’s biggest private sector employer also unveiled a stronger-than-expected order intake in the fourth quarter on growth in North America, … Continue reading
Layoffs In Tech / All the growth is in high mobility
While much of the focus in the current news cycle seems to be on celebrity top executives and the minutiae of selecting and deselecting them, there is an underlying trend receiving far less notice: layoffs of ordinary workers at tech companies. The problem stems from the long-term malaise of the x86/Windows ecosystem, which has been largely upended … Continue reading
Sony / Around 5,000 layoffs to come
Thousands of employees of Japanese tech company Sony will be affected by a major reorganization plan of the company. They have confirmed they are selling their Vaio PC business and switching its TV division into its own company, a move which is expected to lay off 5,000 employees from its global operations. It is estimated … Continue reading
US / Planned job cuts jump by 47%
Planned job cuts by U.S. employers in January soared 47% from the prior month, according to data from an outplacement firm, with the heaviest layoffs to occur in a battered retail sector after many reported weak holiday sales. The data echoes what market observers have seen for weeks, as Target Corp. ( TGT ), Macy’s … Continue reading
New Zealand / Many more jobs but wages increase slowly
Employment increased strongly over the last three months of 2013; wages, not so much. The number of people employed rose by 24,000 or 1.1 per cent in the December quarter, Statistics New Zealand reported, enough to offset a migration-fuelled increase in the labour force and still reduce the unemployment rate to 6 per cent from … Continue reading
Bristol-Myers in France / Threatening to cut jobs at its two Agen factories
Bristol-Myers Squibb, BMY -0.76% the New York-based drug maker, is threatening to cut jobs at its two Agen factories, where a range of paracetamol painkillers are made, after the French government unveiled plans to push for wider use of cheaper generic versions. The government may announce its final decision as early as Thursday, according to … Continue reading
US / No job creation in January finds Gallup
Gallup’s Job Creation Index registered +19 in January, unchanged from the prior month. This score is a three-point improvement from January 2013 and is on par with the overall 2013 average of +20. Chosen excerpts by Job Market Monitor. Read the whole story at U.S. Job Creation Flat in January. Related Posts US / ADP National Employment … Continue reading
The Slow Recovery of the US Labor Market / A CBO Report
In assessing the slow recovery of the labor market, CBO estimates the following: Of the roughly 2 percentage-point net increase in the rate of unemployment between the end of 2007 and the end of 2013, about 1 percentage point was the result of cyclical weakness in the demand for goods and services, and about 1 … Continue reading
Home Depot Canada / Hiring 6,300 for spring season
The Home Depot® Canada is currently hiring 6,300 associates across all 180 locations to support its busiest season, spring. “Spring gives us the opportunity to find the best associates, who are passionate about customer service,” said Bill Lennie president, The Home Depot Canada. “From Vancouver to St. John’s, we are about building meaningful, sustainable careers.” … Continue reading
US / ADP National Employment Report: 175,000 workers were hired by private-sector firms in January
ADP’s January National Employment Report is out. The payroll-processing firm estimates 175,000 workers were hired by private-sector firms in January. Market economists were looking for a 185,000 estimate. The December estimate from ADP’s previous report was revised down to 227,000 from 238,000. Chosen excerpts by Job Market Monitor. Read the whole story at ADP National Employment Report … Continue reading
Disney / Hundreds of layoffs in gaming unit
Walt Disney Co is preparing to lay off several hundred people in its interactive unit, the division that includes gaming products and the Disney.com website, The Wall Street Journal reported on Monday. The layoffs are expected to begin after Disney releases its quarterly earnings on Wednesday, the Journal said. Chosen excerpts by Job Market Monitor. Read … Continue reading
Spain / Firing Aid was scrapped on Jan. 1
The 2012 overhaul, which made it cheaper to fire workers and easier to reduce wages, extended subsidies for small companies cutting staff. The measure, which brought the cost of firing permanent workers closer to that of temporary staff, was scrapped on Jan. 1 this year. “One of the most effective provisions of the labor reform … Continue reading
KPN / To cut another 2,000 jobs
Dutch telecoms group KPN will cut up to a further 2,000 jobs after frugal consumers and stiff competition drove down quarterly revenues in its mobile division, causing profits to miss expectations. Chosen excerpts by Job Market Monitor. Read the whole story at UPDATE 2-KPN to cut more jobs as mobile revenue slides | Reuters. Related articles Europe … Continue reading
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