Job Market Monitor
Economy
Rio Tinto / At least 230 jobs in jeopardy in Sorel-Tracy
At least 230 jobs are on the line at Rio Tinto Iron & Titanium in Sorel-Tracy. The company’s management met with the union this week to present a restructuring plan that could result in significant job losses. The plan foresees cutting 75 jobs at the Montérégie-region plant between now and September, with another 155 cuts … Continue reading
Casino / Australia / Job cuts at Crown
The $9.35 billion casino company Crown has confirmed rumours of job cuts, as Victoria’s largest single-site, private-sector employer seeks a slice of the Sydney casino market. Sources close to Crown said redundancies were on the way for administration, marketing and back-office staff. It is believed the job losses are triggered by a desire to cut … Continue reading
India / U.S. firms have generated 350,000 jobs between 2007 and 2011
Painting a buoyant picture of the Indo-U.S. trade ties, Jennifer McIntyre, Consul-General of the U.S. Consulate General in Chennai, has said the bilateral trade in goods and services between the two countries has increased by four-and-a-half times in the last decade. Addressing members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) here … Continue reading
Spain / Only 22% of 16-24 year olds are unemployed writes Carmen González Enríquez, not 55%
A common notion circulating inside and outside Spain is that over half of young Spaniards (aged 16-24) are unemployed –a ‘fact’ which furthers the image of deep crisis in Spain. The world’s most prestigious media report on such youth unemployment with alarm, contributing to this new ‘Black Legend’ of Spanish failure. The truth, however, is … Continue reading
US / Unemployment Insurance / Claims drop back
SEASONALLY ADJUSTED DATA In the week ending May 18, the advance figure for seasonally adjusted initial claims was 340,000, a decrease of 23,000 from the previous week’s revised figure of 363,000. The 4-week moving average was 339,500, a decrease of 500 from the previous week’s revised average of 340,000. The advance seasonally adjusted insured unemployment … Continue reading
Australia / Ford to cut 1,200 jobs
Car manufacturer Ford announced today it will stop making vehicles in Australia in 2016 and axe 1,200 jobs, having produced its first car in the country in 1925. Ford Australia chief executive Bob Graziano made the announcement as he revealed a loss of 141 million Australian dollars ($136 million) after tax in the last financial … Continue reading
China’s Labor Market
China’s labor markets are flashing a warning sign, with new job adverts on a leading recruitment website sharply down in April, and job losses in manufacturing spreading to the services sector. With the official data on labor markets infrequent — and, in some cases, misleading — alternative indicators take on an added significance. China Real … Continue reading
Australia / Telstra to slash jobs
THE terminal decline of Telstra’s once-dominant fixed telephony business and the rise of new business opportunities have forced the telco giant into a major operational restructure that will affect half the company’s 30,000-strong domestic workforce. The restructure, which was announced yesterday in an internal memo from Telstra chief operations officer Brendon Riley, is likely to … Continue reading
Ford / More Jobs And Vacations Skipped
Pent-up demand for new vehicles, along with a rebounding economy and a surging stock market, is bringing car buyers out in droves. On Wednesday, Ford Motor said it will add an additional 200,000 units of annual capacity this year — almost the equivalent of opening another assembly plant in North America. The extra capacity at … Continue reading
Canada / 150,000 jobs would be at risk in the housing sector
Canada’s housing market is slowing dramatically in terms of both sales and construction, dragging down economic growth and putting some 150,000 jobs at risk in coming years, a mortgage industry association warns in its spring report. The Canadian Association of Accredited Mortgage Professionals stops short of calling the ongoing slide that began about nine months … Continue reading
UK / venture capital trusts create thousands of jobs research finds
A survey of companies that have been funded by venture capital trusts (VCTs) has found that they have created 14,000 new jobs since receiving the investment. The Association of Investment Companies (AIC) heard from 271 such businesses, which reported that their combined workforces have swelled from 23,643 at the time of the VCT injection to … Continue reading
ESPN layoffs 7000 workers
Sports media giant ESPN has given pink slips to nearly 7,000 employees on Tuesday, the network said in a statement. The Bristol, Connecticut-based company said it was looking at the financial bottom line. In a statement the company said that they were implementing changes across the company to enhance their continued growth while smartly managing … Continue reading
France / The right Job Plan ?
The man charged with reviving France’s shrinking economy and attracting businesses to invest here is gaining a reputation for doing the opposite. As the country’s first-ever minister for industrial renewal, Arnaud Montebourg has told the world’s largest steelmaker it is not welcome in France; exchanged angry letters with the head of an American tire company … Continue reading
Ericsson / 318 Receive Layoff Notice in Sweden
LM Ericsson Telephone Co. (ERIC: Quote) Tuesday said it has initiated union negotiations to close down its telecom cables operation within business unit Networks. The decision primarily impacts the operations in Hudiksvall and Stockholm. A notice of reduction of 318 positions in Hudiksvall has been given, while a dialog with the unions in Stockholm for … Continue reading
Sweden / Unemployment Unchanged in April
Swedish unemployment stayed unchanged last month as companies have cut jobs to cope with a strengthening krona and faltering demand from the recession-burdened euro area. Seasonally adjusted unemployment was unchanged at 8.4 percent from the previous month, Stockholm-based Statistics Sweden said today. The rate was predicted to fall to 8.3 percent, according to the median … Continue reading
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