Job Market Monitor
Economy
US / More older Americans and retirees working seasonal and temp jobs
Many older Americans and retirees are now working temporary and seasonal jobs as well as project assignments. There is a big demand in this area as employers generally do not have to pay benefits and the costs of off boarding are minimal by comparison to having to let a full-time person go. Any time employers … Continue reading
Sri Lanka / Obstacles to creating jobs should be removed says the World Bank
Sri Lanka can help citizens better themselves by removing obstacles to creating new and better jobs, including for women, the World Bank said. The development agency based on the theme of its World Development Report 2013, says creating opportunities for jobs are critical for reducing poverty. “One of the biggest challenges facing Sri Lanka is … Continue reading
US Veterans / Companies honored for hiring
We know the problem: the jobless rate for military members who have served our country since 9/11 is significantly higher than the general population. Each year, the Families and Work Institute, a non-profit and non-partisan research organization, honors companies that have gone the extra mile to help vets as they return to the civilian workplace. … Continue reading
BC / Vancouver Sun and The Province to cut jobs
Employees at two of B.C.’s biggest newspapers were warned Wednesday that their jobs are on the line in the midst of severe revenue declines. Staff at the Vancouver Sun and The Province received a four-page memo from their new president detailing the company’s financial woes. Gordon Fisher, the new president and publisher of Pacific Newspaper … Continue reading
US / Jobless claims fall
The number of Americans filing new claims for unemployment benefits fell last week, offering reassurance that the bottom is not falling out of the labor market despite signs of slower growth. Initial claims for state unemployment benefits dropped 16,000 to a seasonally adjusted 339,000 the Labor Department said on Thursday. The prior week’s number was … Continue reading
Finland / Outokumpu Oyj cuts 2,500 jobs
Finnish metals group Outokumpu Oyj says it will slash 2,500 jobs worldwide in the next four years to cut costs by 350 million euros ($455 million) and improve profitability as stainless steel demand continues to fall. The world’s leading stainless steel maker says about a third of the job cuts will be applied this year, … Continue reading
Spain / Unemployment rate at record 27pc
Spain’s unemployment rate has climbed to a new record of 27.16 per cent in the first quarter of 2013, as a deep recession sparked by the collapse of a property bubble ravages the eurozone’s fourth-largest economy. The jobless rate jumped from 26.02 per as the number of unemployed climbed by 237,400 people to 6.2 million, … Continue reading
Scotland / Government sets up mining jobs taskforce
A Scottish government taskforce has been set up to try to retain jobs at a collapsed coal-mining firm. Scottish Coal, which operated six open cast mines across Scotland, announced nearly 600 redundancies when it went into liquidation last week. Energy minister Fergus Ewing said the Scottish Open Cast Mining Taskforce would do everything it could … Continue reading
Low Interest Rates Didn’t Induce Job Growth finds Research by St-Louis FED
The Federal Reserve set the target range for the federal funds rate at 0 to 25 basis points in December 2008. It has remained there because the recovery in output and jobs has been so slow. The rate was set so low to stimulate aggregate demand and job growth (by lowering borrowing costs for consumers … Continue reading
BASF To Cut 500 Jobs
German chemicals giant BASF SE (BASFY,BFA.L) said it will cut about 500 jobs worldwide by the end of 2015, including 350 in Switzerland, and also streamline processes as part of a restructuring at its performance products segment. BASF plans to significantly increase competitiveness at the segment in the coming years by streamlining processes, investing in … Continue reading
UK / HSBC bank cutting 3,166 jobs
HSBC is cutting 3,166 UK jobs as it continues efforts to reduce costs. The bank said the positions would mostly go from its wealth management division, but that it hoped to redeploy more than 2,000 of the affected staff. The cuts are part of HSBC’s continuing three-year cost-cutting plan, and follows the loss of 2,200 … Continue reading
China / Film and TV supported 909,000 jobs in 2011
As Hollywood treks to China for the 3rd Beijing International Film Festival, a new report has revealed that the film and television industry contributes big bucks to the local economy. According to a study sponsored by the Motion Picture Association (MPA) and the China Film Distributors and Exhibitors Association (CFDEA), movies and TV added $15.5 … Continue reading
Europe / SABIC to cut over 1,000 jobs
Petrochemicals giant Saudi Basic Industries (SABIC) has announced plans to cut about 1,050 jobs in Europe and close some operations as part of a restructuring operation brought about by a gloomy business outlook. Chosen excerpts by Job Market Monitor via SABIC to cut over 1,000 jobs in Europe.
China IT firm in U.S / 200 new jobs paying on average $100,000
The largest information technology consulting firm in China said Monday it will plant its new U.S headquarters in Charlotte, bringing 200 jobs with an average salary of $100,000. Pactera Technology International, a Beijing-based firm with 23,000 employees worldwide, will make its U.S. headquarters in SouthPark Towers at 6100 Fairview Road, not far from SouthPark Mall. … Continue reading
UK / Honda workers get redundancy letters
YESTERDAY was described as a dark day for Swindon, after letters went out to employees of Honda informing them they have been provisionally selected for compulsory redundancy. It is believed that more than 100 letters have gone out to indirect staff – those who don’t work on the production line – and the mood at … Continue reading
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