Job Market Monitor
Economy
China / Internet business boom has helped create more than 10 million jobs
Chinese young people are seriously considering making a living online as the economic slowdown bites China’s more conventional jobs market. An Internet business boom has helped create more than 10 million jobs in China, which greatly alleviates current employment pressure, according to a new report by the Ministry of Human Resources and Social Security (MHRSS). … Continue reading
Stora Enso / To slash 600 jobs
Nordic paper maker Stora Enso Oyj says that despite strong fourth quarter earnings it will slash 600 jobs due to the weak European economy. Stora Enso says most of the job cuts will take place in Sweden, where it will permanently shut down two paper machines by the end of June. The company also intends … Continue reading
EuroZone / A Great Depression?
The Great Depression was a period of severe economic contraction that lasted many years. In the United States real GDP fell every year from 1929 to 1933, when it reached only 73 percent of its 1929 level. Starting in 1934 the recovery was quite rapid, with GDP reaching its 1929 level in 1936. By contrast … Continue reading
D.C. area / Local governments restart hiring
As many state and local governments strengthen their once-shaky fiscal footing, there are signs that municipalities in the Washington region have returned to a more normal trajectory for hiring after being constrained during the recession and its immediate aftermath. The government sector added 8,900 jobs in the D.C. area in 2012, according to the Labor … Continue reading
Philippines / Creating ‘good jobs’: an ‘overwhelming challenge’ says World Bank
A World Bank official has called the huge number of unemployment and underemployment in the Philippines as a huge challenge for the Aquino administration. “The need for good jobs — jobs that raise real wages or bring people out of poverty — is an overwhelming challenge,” Motoo Konoshi, World Bank Country Director, speaking before hundreds … Continue reading
Germany / Behind in hiring skilled foreign workers
The OECD says German firms continue to recruit too few skilled workers from outside of the country, even when they have difficulties filling vacancies. This is one of the key findings of a new migration report. According to the report unveiled by the Organisation for Economic Cooperation and Development (OECD) at a press conference in … Continue reading
US Workforce Development / Layoffs At State Unemployment Agencies
Businesses added 166,000 jobs in January, the U.S. Labor Department announced Friday, while the government eliminated 9,000. The twin trends have been a signature of the past three years of economic recovery. For some state workforce agency staffers, the overall improvement is bad news. With fewer people claiming unemployment insurance benefits, state unemployment agencies will … Continue reading
Symantec / Layoffs to come
Symantec Corp, which completed a strategic review in January, plans to lay off a significant number of managers and reorganize internally into 10 main business areas, but has decided not to sell off major assets for now. Chief Executive Officer Steve Bennett told Reuters in an exclusive interview that Janice Chaffin, consumer business president, will … Continue reading
NY Thruway / 234 layoffs
The New York State Thruway Authority is planning 234 layoffs to help shore up its finances, but no toll increases are planned. Thruway spokesman Dan Weiller says the layoffs of full-time workers will be in all regions, including the Albany headquarters. The authority employs 2,968 workers. Weiller says no toll increases of any type are … Continue reading
San Antonio and Toyota / A Local Employment policy
“We learned a lot with Toyota,” he said. “The wonderful thing about having such a world-class company come and choose to bring high-paying manufacturing jobs is that it amplified the value of the state to have a cohesive outreach plan on the state and local level.” A decade later, officials again have teamed up, this … Continue reading
Canada | Employment Insurance | Nationwide Entrance Requirements and Benefit Entitlement Period
“Reforms to the Employment Insurance (EI) program should focus on removing barriers to mobility by creating uniform, nationwide entrance requirements and benefit entitlement period” write Colin Busby and David Gray in Mending Canada’s Employment Insurance Quilt: The Case for Restoring Equity published at cdhowe.org. “Under the current EI system, long-lasting EI benefits are more easily accessed in … Continue reading
Canada / Employment Insurance : How to Adjust EI to the new world of work – Gunderson
Work is ‘changing nature’ with respect to Employment Insurance writes MORLEY GUNDERSON in EMPLOYMENT INSURANCE IN THE NEW WORLD OF WORK on mowateitaskforce.ca. “The demand-side changes include: skill-biased technological change, especially associated with the computer revolution and the shift to a knowledge economy; trade liberalization; globalization and offshore outsourcing; industrial restructuring mainly from manufacturing to … Continue reading
US / At 2012 pace, full employment won’t come until 2022
The jobs numbers have been crunched and re-crunched, and it turns out that the U.S. economy added an average of 181,000 jobs per month in 2012. That’s a faster rate than in 2011 or 2010. But it’s also relatively sluggish, given the deep, deep hole the economy is still in. If the United States keeps adding … Continue reading
Israel / GE planning wide-scale layoffs
Corporation to fire about half of 500 employees in healthcare division’s R&D centers in Israel, company worker tells Ynet. Management sources say only 10% of workforce to be dismissed According to a company source, more than half of the division’s 500 employees in all research and development centers in Israel will be fired. The company … Continue reading
Lloyds / 38,000 jobs cut since HBOS rescue
The job toll at Lloyds Banking Group since the rescue of HBOS has reached 38,000 after another 940 cuts were announced. “This is a bleak start to the year for hard-working Lloyds employees and bad news for the UK economy on a day when the small fall in the numbers unemployed was supposed to be … Continue reading
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