Job Market Monitor
Economy
Canada / Expanding Canada Pension Plan benefits and the debate over the premiums
Finance Minister Jim Flaherty thinks that expanding Canada Pension Plan benefits might be a good idea, but just not now. The Canadian Federation of Independent Business thinks it might never be a good idea and has launched a national campaign against the reform. Continue reading
Canada / Employment little changed and the unemployment rate remained at 6.9% in October
Editor’s Note: At 6,9%, the unemployment rate is down by -0.5 pp since last year. But this is due to the -0.4 pp drop in the participation rate as the employment-to-population ratio is down by -0.1. This is hardly the picture of a dynamic labour market. Continue reading
World Bank on Europe and Central Asia / Creating More and Better Jobs
The World Bank recommends actions for creating more jobs and making them more accessible HIGHLIGHTS A new regional report examines the role of policy reforms, firms, skills, incentives and barriers to work in Europe and Central Asia, and ways to create more and better jobs. Report suggests that countries must regain their momentum for economic … Continue reading
Novartis / To Cut 500 Jobs
Novartis AG (NOVN) plans to close two sites in Europe, move staff from California to the Boston area and cut about 500 jobs in an effort consolidate its research operations, especially in respiratory diseases. Novartis plans to close sites in Horsham, England, and Vienna and move cancer research from Emeryville, California, to Cambridge, Massachusetts, Eric … Continue reading
US / ADP’s numbers: 130,000 private-sector jobs added in October, the smallest gain since April
Business hiring slowed this month with the private sector adding just 130,000 net new jobs as the partial government shutdown hit an already weakening labor market, payroll processor ADP said Wednesday. The figure was below the 150,000 average monthly job growth in the sector over the previous year as the hiring in the service sector … Continue reading
Conference Board International Labor Comparisons / Labor Markets Remain Stable in Many Advanced Economies – MarketWatch
Labor markets remain stable in many advanced economies, according to unemployment rates and employment growth data compiled and standardized by The Conference Board International Labor Comparisons (ILC) program for September. The unemployment rate in September was unchanged in four of the nine countries compared. Unemployment decreased in three countries – U.S., Japan and Australia. Japan … Continue reading
Commerzbank / To cut 5,200 jobs by 2016
Commerzbank AG (CBK), the German lender that plans to cut 5,200 jobs by 2016, said two executives will leave its management board as part of the reductions Continue reading
(Update) RWE / Would cut 3,400 jobs
RWE , Germany’s No.2 utility, will be cutting some 2,500 jobs in its power generating business in Germany over the next few years, a source familiar with the plans said on Wednesday. In a bid to cope with tepid energy demand in Europe as well as loss-making power plants, RWE would also cut jobs in … Continue reading
Alstom / To cut at least 1,300 jobs
The group said that it would shed at least 1,300 jobs, most of them in Europe, and that it intended to sell part of its railway equipment division and other assets to raise 1.0-2.0 billion euros by the end of 2014 Continue reading
Canada’s beer economy / One job in 100
The beer economy accounts for one in 100 Canadian jobs, or almost 1 percent of gross domestic product, says a new report from the Conference Board of Canada Continue reading
Steel Workers in Canada / There are going to be jobs
“There are going to be jobs. There’s going to be good quality jobs,” said Dr. Peter Warrian, a senior research fellow at the University of Toronto and leading Canadian expert in the steel industry Continue reading
BAE / To cut 1,775 jobs in Britain
British arms maker BAE Systems is set to axe more than 1,000 jobs at its shipbuilding yards in Scotland and southern England Continue reading
Europe / Moderate growth will translate only gradually into job creation says EC
The European Commission rolled out its autumn forecast on Tuesday. There was plenty of optimism, but it was guarded. Olli Rehn, the EU’s Economic and Monetary Affairs Commissioner, declared: “There are increasing signs that the European economy has reached a turning point”. He spied confidence gaining strength. Growth in the eurozone in 2014 is forecast … Continue reading
Is Apple reshoring ? / 2,000 new jobs in Arizona
Apple Inc. (AAPL) said it’s opening a new plant in Mesa, Arizona, that will create 2,000 jobs to make components for its products, part of a push by the world’s most valuable company to boost manufacturing in the U.S. Apple struck a deal to pay $578 million to GT Advanced Technologies Inc. (GTAT) to supply … Continue reading
US / Mortgage business has announced 49,000 layoffs the first nine months of 2013
Financial firms are cutting tens of thousands of jobs because of a slowdown in the mortgage business, the sluggish economy, the growth of online banking and new regulations. The sector announced 49,000 layoffs the first nine months of 2013, most among all industries, outplacement firm Challenger Gray & Christmas said in a report. Challenger expects … Continue reading
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