Job Market Monitor
Economy
Acer / To cut employee numbers by 7 percent
Acer CEO J.T. Wang is resigning from his post at the Taiwanese PC maker and will be replaced by president Jim Wong as part of a corporate restructuring that will try to revitalize the company’s sagging fortunes. Citing the company’s recent run of poor financial results, Wang said in a statement on Tuesday: “It is … Continue reading
Npower / To axe 2,000 call centre jobs ?
Energy chiefs at Npower were today urged to come clean over growing speculation they are about to outsource 2,000 call centre jobs Continue reading
Encana / To cut workforce by 20 per cent
Canadian natural gas giant Encana Corp. says it will cut its workforce by 20 per cent, close its office in Plano, Texas, and spin off a large portion of its Alberta assets into a separate public company Continue reading
US / Okun’s Law says the economy is well below its potential
The basic logic that underlies Okun’s law has proven to be robust over the decades Continue reading
Autistic Workers / Why hiring them can be good for business
The German group SAP, Europe’s largest software developer, announced in May that it would hire 650 people with Asperger syndrome to program and test management software Continue reading
Portugal / The crisis has destroyed one in seven jobs says ILO
Portugal’s economic crisis has destroyed one in seven jobs, with most of them lost since its 2011 emergency bailout programme kicked in, says the International Labour Organization Continue reading
Co-op Group / To close 50 bank branches with “significant” job losses
The Co-operative Group on Monday announced plans to close around 50 of its bank branches as part of a £1.5 billion rescue plan that will give investors majority control of the lender… The move has caused concern among some about whether the bank will be able to retain the ethical approach which attracted many of … Continue reading
Hamilton / Nearly 35,000 manufacturing jobs lost in the past decade
It’s Work Week at CBC Hamilton. And in the wake of U.S. Steel’s shutdown of steel manufacturing in the city, we are taking a look at jobs in Hamilton: where they have gone, what remains, and which industries are desperate for employees. For the first entry in the series, we’re using graphics to illustrate the decline … Continue reading
Kellogg / To cut about about 2,200 jobs
Kellogg says it plans to trim its global workforce by 7 percent, with the breakfast foods maker citing weaker-than-expected sales for the year. The maker of Frosted Flakes and Eggo waffles says it expects earnings per share for the year to be toward the lower end of its previous forecast. According to FactSet, Kellogg has … Continue reading
US Monetary Policy / Fed’s Bullard sees substantial progress in labor markets
There’s been “substantial progress” in the U.S. labor market, St. Louis Fed President James Bullard told CNBC on Monday. But inflation is low, he added—saying, “What’s the hurry” to taper the Federal Reserve’s massive bond-buying program. “The unemployment rate is down almost a full point from when we start this program in September 2012. We’ve … Continue reading
Merck / Job cuts rise by 8,500 to 16,000
Merck job cuts mean the drugmaker is slashing about 20 percent of its workforce. 8,500 jobs will be added to the 7,500 Merck job cuts already announced, bringing the total to 16,000. Continue reading
US / Construction adds 20,000 jobs and unemployment hits six-year low
Construction employment rose by 20,000 in September, and the industry’s unemployment rate fell to a six-year low of 8.5 percent, while construction spending increased for the fifth consecutive month in August, according to an analysis of new government data by the Associated General Contractors of America. Association officials cautioned that the data does not address … Continue reading
US / ‘One-stop shop’ to attract foreign investment to generate jobs
The US launched a fresh effort Thursday to attract investment by foreign manufacturers and other businesses as the government seeks to pull down stubbornly high unemployment. President Barack Obama was to address 1,200 foreign and US business leaders in Washington as the White House tries to further lower barriers to foreign investment. White House officials … Continue reading
US / Jobless Claims drop but bigger gains in payrolls are needed
Fewer Americans filed applications for unemployment benefits last week as a backlog in California’s reporting cleared. Jobless claims decreased by 10,000 to 340,000 in the week ended Oct. 26 from 350,000 the prior period, the Labor Department reported today in Washington. The median forecast of 49 economists surveyed by Bloomberg called for a decrease to … Continue reading
Nevada / Up to 7,800 expected to be hired for holiday retail jobs
The Retail Association of Nevada said in a statement Wednesday that it expects hiring in Nevada to remain in line with that of 2012, which was up 2.6 percent compared to 2011. That translates to up to as many as 7,800 people across Nevada who are expected to be added to retail payrolls during the … Continue reading
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