Job Market Monitor
Economy
Portugal / To cut 30,000 civil service jobs
Portugal is planning to cut 30,000 civil service jobs and to raise the retirement age by one year to 66 as it tries to meet the terms of a bailout. Prime Minister Pedro Passos Coelho said civil servants would also be required to work 40 hours a week instead of 35. The proposals, which would … Continue reading
Magna / To cut jobs in Europe and US
Canadian auto parts maker Magna International plans to cut jobs in Europe and the United States as it seeks to reduce costs and offset weak demand in Europe, Chief Executive Donald Walker told German magazine WirtschaftsWoche. Chosen excerpts by Job Market Monitor via Canada’s Magna to cut jobs in Europe, U.S.: report | Reuters.
Mining / South Africa / Amplats to cut 14,000 jobs
Anglo American’s platinum arm is expected to cut 14,000 mining jobs as part of the loss-making business. According to industry sources, the mining company is under pressure from South African government. Anglo American Platinum, the world’s top platinum producer, is battling to restore profits and is planning to cut back production and mothball two mines … Continue reading
(Update2) US / Employment rose by 165,000 in April, unemployment rate to four-year low, but still …
Total nonfarm payroll employment rose by 165,000 in April, and the unemployment rate was little changed at 7.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services,food services and drinking places, retail trade, and health care. Household Survey Data The unemployment rate, at 7.5 percent, changed little in April but … Continue reading
Nuclear / Duke Energy is cutting 585 jobs at Crystal River
Duke Energy issued a notice to the state this week that it intends to transfer or lay off 585 employees at the shuttered Crystal River nuclear plant over the next year or so. The utility expects to begin layoffs May 31. As many as 58 workers face termination by June 30. Duke announced in February … Continue reading
Euro Zone / Economy to contract in 2013
The euro zone economy will contract by more than expected this year and budget deficits will decline more slowly, the European Commission said on Friday as it set out forecasts for the next two years. France, Spain, Italy and the Netherlands – four of the five largest euro zone economies – will be in recession … Continue reading
US / Private-sector jobs growth slows in April according to ADP
Private-sector employment growth slowed down in April, hitting the lowest result in seven months as tax hikes and government spending cuts took a toll, Automatic Data Processing Inc. reported Wednesday. Private employers added 119,000 jobs in April, the weakest gain since September, compared with 131,000 in March, according to ADP’s monthly report. “Job growth appears … Continue reading
Merkel / The goal is not deficit or growth numbers but to get people back to work she says
German Chancellor Angela Merkel said at a joint news conference with her Italian counterpart that Europe must find ways to create jobs and spur investment. “Fiscal policy is not everything, of course. We do politics for people and people want jobs, which is why Europe has to manage to create employment and encourage investment and … Continue reading
Philippines / Unemployment rate remain high despite strong economic growth
Despite strong economic growth, the unemployment rate in the Philippines remains the highest in Southeast Asia. The government admits it has not been able to meet its target of creating one million jobs a year, and now hopes to create employment by drawing in more investments. Vivian Atienza, a 40-year-old single mother, will soon leave … Continue reading
Asia / Gap between rich and poor widening finds the Asian Development Bank (ADB)
The Asian Development Bank is urging the Philippines and other countries in Asia to address the widening inequality between rich and poor, in terms of income and access to education, health and other services. The ADB noted that despite the rapid growth in the economies of some of these Asian countries, the gap between rich … Continue reading
Europe / Telecoms could reduce their workforces by 30%
Telecoms network upgrades could cost 300,000 jobs in Europe over the next five years as wireless and wireline carriers move to more efficient technologies and look to reduce their workforces by 30%. According to the UNI Europa ICTS union, which represents telecoms workers across the European Union, within a decade the sector will see its … Continue reading
Egypt / Morsi vows more jobs
Egyptian President Mohamed Morsi has said his administration aims to create thousands of new jobs over the next three years. Morsi made the comments on Tuesday during a speech at the state-owned Iron and Steel Complex in Cairo’s Helwan. “This bastion expands over 21 million square metres. It is not just a factory, but a … Continue reading
Spain / Beyond Doomed
Spain is in a great depression, and it is one of the most terrifying things ever seen. Five years after its housing boom turned to bust, Spanish unemployment hit a record high of 27.2 percent in the first quarter of 2013. It’s almost too horrible to comprehend, but 19.5 percent of the total workforce has not had … Continue reading
German Latest Data / Unemployment Climbs
German unemployment rose for a second month in April, adding to signs that Europe’s largest economy is struggling to recover from a slump at the end of last year. The number of people out of work climbed a seasonally adjusted 4,000 to 2.94 million, the Nuremberg-based Federal Labor Agency said today. Economists predicted an increase … Continue reading
Europe / Unemployment Sets Another Record
Eurostat estimates that 26.521 million men and women in the EU-27, of whom 19.211 million were in the euro area (EA-17), were unemployed in March 2013. Compared with February 2013, the number of persons unemployed increased by 69.000 in the EU-27 and by 62.000 in the euro area. Compared with March 2012, unemployment rose by … Continue reading
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