Job Market Monitor
Economy
UK / Penguin Books publisher to close apprenticeship unit: 5,000 apprentices and 500 jobs could be cut
The media and education group, which also owns publisher Penguin Books, said that changes to the way apprenticeship schemes are funded had had a “radical” impact on demand for the courses offered by Pearson in Practice, which are tailored to specific industries and each last between three months and a year. Around 5,000 apprentices signed … Continue reading
Greece / Hellenic Telecommunications Organization (HTO) / 1,500 Jobs Cut
Greece’s Hellenic Telecommunications Organization (HLTOY) said Monday around 1,500 workers took part in its voluntary redundancy plan, enabling the company to reduce operating costs significantly and improve its competitiveness. The company estimates that its costs will be reduced by 80 million euros ($104.5 million) annually. Since the beginning of January, “the number of OTE employees … Continue reading
US / Five states without a state-set minimum wage, Louisiana is one of them
A recent national report shows that Louisiana is one of only five states without a state-set minimum wage, but state officials say it doesn’t really matter. The National Conference of State Legislators report shows that Louisiana, Alabama, Mississippi, South Carolina and Tennessee have no set minimums that must be paid to workers in private or … Continue reading
Alpha Natural Resources / 1 200 layoffs as 8 mines to closed
Alpha Natural Resources announced plans this week to cut more than 1,200 jobs and idle eight coal mines as part of a company-wide move that will cut coal production by 16 million tons. The company made the announcement Friday that will cut a total or 10 percent of its workforce. There will also be an … Continue reading
Infosys / Doesn’t deny layoffs but …
Indian software major, Infosys Limited, clarified on Friday over a report suggesting that it might lay off up to 5,000 of its underperforming employees. It says that it is not 5,000, but “the number that may be affected is significantly lower.” Just a week ahead of its third quarter results for 2013 (Q3 FY13), the … Continue reading
US / Defined contribution retirement plans cost more than defined benefit
Private industry employers now spend more per employee hour worked for defined contribution retirement plans (retirement plans that specify the level of employer contributions and place those contributions into individual employee accounts) than for defined benefit retirement plans (plans that provide employees with guaranteed retirement benefits that are based on a benefit formula). March 2012 … Continue reading
Recessions impact Babies study finds
Kids born during the economic recessions of the 1980s had a higher chance of substance abuse and arrest as teenagers, a new study has found, leading researchers to wonder if babies born in recent years could face a similar fate. “The mechanisms involved may be different in intensity and severity, (but) based on the study … Continue reading
Canada / Employment rose by 40,000 and the unemployment rate declines the lowest in four years
Employment rose by 40,000 in December, the fourth increase in five months. December’s increase was all in full-time work. The unemployment rate declined 0.1 percentage points to 7.1%, the lowest in four years. Chart 1 Employment Compared with 12 months earlier, employment increased 1.8% or 312,000, all in full-time work. Over the same period, the total number of hours worked rose 1.6%. Provincially, employment increased in Ontario, … Continue reading
There have been only two administrations that turned in a worse performance in private-sector job growth says NYTimes.com
The December jobs figures out today indicate that there were 725,000 more jobs in the private sector than at the end of 2008 — and 697,000 fewer government jobs. That works into a private-sector gain of 0.6 percent, and a government sector decline of 3.1 percent. In total, the number of people with jobs is … Continue reading
Update – US / An increase of only 28,000 persons saying they have a job: proportion at work declined
The last Employment Report for 2012 is fresh out. Comments will focus on the fact that Nonfarm payroll employment rose by 155,000 and the unemployment rate was unchanged at 7.8 percent. All that is true but… there is a big bad news. An important indicator coming from the household survey is the Employment-population ratio which , in short, … Continue reading
US / Proportion of Population With Job Improves in December finds Gallup
The U.S. Payroll to Population employment rate (P2P), as measured by Gallup, was 44.4% for the month of December, a slight improvement over 43.7% in November. The current P2P rate still does not match the levels of employment seen in July through October, which exceeded 45% and were the highest since Gallup began tracking P2P … Continue reading
Top 1% Earners / In What Field Do They Majored In ?
According to the Census Bureau’s 2010 American Community Survey, the majors that give you the best chance of reaching the 1 percent are pre-med, economics, biochemistry, zoology and, yes, biology, in that order. Below is a chart showing the majors most likely to get into the 1 percent (excluding majors held by fewer than 50,000 … Continue reading
Unemployment needs city-specific solutions
Centre for Cities launches Cities Outlook 2012 today, which shows how cities are fairing against the backdrop of a sluggish national economy. This year the report focuses on unemployment in our largest urban areas. For this reason both the government and the work programme providers must take a varied response to the UK’s unemployment problem. … Continue reading
India / IT and Education Top the List of Job Creating Sectors
Amidst global financial crisis and sluggish economic growth that hampered the growth and employment opportunities in the country, there were few sunshine sectors that created huge job opportunities. Here is a list of such sunshine sectors in India that created new job opportunities in the year 2012, as reported by Anumeha Chaturvedi and Shreya Biswas on The … Continue reading
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