Job Market Monitor
Europe
May Day in Europe / Thousands rally against austerity
Trains and ferries were canceled and hospital staff walked off the job in Greece on Wednesday and thousands were due to demonstrate across Spain as May Day triggered protests against harsh government spending cuts. Separately, Turkish riot police fired water cannon and tear gas to disperse crowds gathering in central Istanbul for a rally on … 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
Europe / Are leaders aware of the miseries of mass unemployment?
Unemployment in Europe is at record levels and rising. Five European leaders (Dijsselbloem, Rehn, Asmussen, Regling and Hoyer) declared in The New York Times (April 17) that their current policies of austerity bring: serious social challenges, notably in the form of unacceptably high unemployment. These challenges have to be addressed with determination. But there is … 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
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.
Europe / Sabic to Cut 1,050 Jobs
Saudi Basic Industries Corp., (SABIC) the world’s biggest petrochemicals maker, plans to cut about 1,050 positions and close some assets in Europe as the company responds to diminished demand. Saudi Basic Industries, also known as Sabic, has started talks with works councils and trade unions on the plan, it said in a statement today. The … Continue reading
Europe / Auto Market contracted in March
European new car sales contracted in March for an 18th consecutive month, industry data showed Wednesday, led by declines in Germany and France. New vehicle registrations in the European Union fell 10.2 percent in March from a year earlier, the European Automobile Manufacturers’ Association reported from Brussels, to 1.3 million vehicles from about 1.5 million … Continue reading
European Commission / Grand Coalition for Digital Jobs launched to address up to 900 000 job vacancies
Commission President José Manuel Barroso today called on Europe’s digital businesses, governments, training and education sectors to join a Grand Coalition for Digital Jobs to address up to 900 000 job vacancies expected to exist in Europe in Information and Communication technologies (ICT) by 2015. Despite the current levels of unemployment, the number of digital … Continue reading
Euro zone / The economy to shrink again in 2013
The euro zone will not return to growth until 2014, the European Commission said on Friday, reversing its prediction for an end to recession this year and blaming a lack of bank lending and record joblessness for delaying the recovery. The 17-nation bloc’s economy, which generates nearly a fifth of global output, will shrink 0.3 … Continue reading
Europe / Danone to cut 900 jobs
French food and drink company Danone has said it will cut 900 jobs after weakness in southern European economies hit sales. The owner of Activia yogurt and Evian bottled water reported sales of 20.1bn euros ($26.8bn; £17.3bn) in 2012, up 5.4% from a year earlier. But sales in Europe fell 3% following a “severe deterioration” … Continue reading
Europe recession deepens: very bad news for everybody
The eurozone suffered its third consecutive quarter of decline at the end of 2012 as exports from leading economies Germany and France sank, deepening a regional recession that has driven unemployment to record highs. Gross domestic product in the 17-nation euro area fell by 0.6% in the fourth quarter, leaving the eurozone economy 0.5% smaller … 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
Euro Zone / Youth unemployment rose by 303 000 in a year, reaching 57.6% in Greece
The euro area (EA17) seasonally-adjusted unemployment rate was 11.7% in December 2012, stable compared with November. The EU27 unemployment rate was 10.7%, also stable compared with November. In both zones, rates have risen markedly compared with December 2011, when they were 10.7% and 10.0% respectively. These figures are published by Eurostat, the statistical office of the European Union. Eurostat … Continue reading
An EU wide unemployment insurance system?
One of the most promising measure normally present in monetary unions is unemployment compensation. This idea is currently being given a push in the EU – including by the Employment Commissioner Laszlo Andor who has talked about it as serving as an automatic stabiliser and argued that “We need and must study the possible set-up … Continue reading
United Paper Mills-Kymmene, Europe’s second largest paper firm, to cut 860 jobs
Europe’s second largest paper production firm intends to cut 860 jobs worldwide after the eurozone crisis reduced the demand for paper. The struggling European economy has affected the use and need for paper, the Finland-based UPM (United Paper Mills)-Kymmene said on Thursday. The supply of graphic papers has significantly outweighed the demand in Europe. “The … Continue reading
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