Job Market Monitor
France
France – A Second Recession In Three Years
In its first estimate for the third quarter of 2012, the Bank of France said that the nation’s GDP was likely to fall by 0.1 percent in the three months to September, which was in stark contrast to the government’s optimistic forecast of 0.3 percent growth for the whole year. Additionally, France’s trade deficit remained … Continue reading
France – Skill Gap – GE Can’t Find Workers
Clara Gaymard, the head of General Electric Co.’s French unit, has been looking in vain for workers for a factory that makes valves for the oil and nuclear industries in Conde-sur-Noireau in western France. “The plant has 360 employees, 100 of whom will retire in the next four to five years, and we can’t find … Continue reading
Peugeot Citroen – 8,000 jobs cut
French carmaker Peugeot Citroen has set out plans to cut 8,000 jobs and close an assembly plant outside Paris as losses mount. Peugeot said the Aulnay plant near Paris, which employs 3,000 workers, would stop production in 2014. Last week, Peugeot said its first-half sales had fallen 13% amid a “profound crisis” in its eurozone … Continue reading
France – Sanofi to cut 1,000 to 2,000 jobs
Drugmaker Sanofi plans to cut 1,000 to 2,000 jobs in France, according to French daily Le Figaro, the latest in a series of cost-cutting moves at the company, some of whose key drugs face increased competition from generic rivals. The jobs targetted will be in the areas of research, the manufacturing operations of the company’s … Continue reading
Euro Zone – Factories preparing for worse to come with more job cuts
Euro zone manufacturing took another hefty blow in June and factories are preparing for worse to come, according to business surveys on Monday that showed jobs were cut at the fastest rate in two-and-a-half years. Markit’s Eurozone Manufacturing Purchasing Managers’ Index (PMI) was unchanged at 45.1 in June, above the preliminary reading of 44.8 and … Continue reading
Airbus workers in France seek jobs guarantee – New Alabama plant should create about 2,500 construction jobs
Airbus should create about 2,500 construction jobs to build a new US$600 million airliner assembly plant in Mobile, Alabama, and 400 to 500 full-time jobs once production starts in 2017, a source familiar with the plans said on Saturday. The European planemaker, owned by EADS, is poised to announce plans to build the plant for … Continue reading
France – Lessons on Youth Unemployment and Youth Employment Policy
The last crisis has merely amplified what is an increasingly problematic structural issue in France: Youth unemployment. In the last 30 years, the youth unemployment rate has never dropped below 15% and has regularly exceeded 20%. Yet, integrating young people into the labour market has been an ongoing public policy objective since the end of … Continue reading
Air France – 5,000 jobs to be cut by 2013
French airline Air France has announced it is to cut more than 5,000 jobs by the end of 2013 in an attempt to reduce costs and return to growth. The figure represents just under 10% of the total workforce of 53,000. The job cuts form part of a restructuring plan to restore profitability, in the … Continue reading
Anti-austerity waving in Europe
From the anti-austerity firebrands of Greece’s imminent elections to the corruption crusaders in Prague, from the Pirates of Berlin to the populists who scored well in France’s presidential election, a new wave of anti-establishment parties are on the rise across Europe, posing a threat to the political elite. Their causes vary – some are from … Continue reading
France | Unemployment Worst Since Sept 1999
Unemployment in France surged to its highest level in over 12 years in March, the labor ministry data showed Thursday, days ahead of the Presidential poll. The number of registered job seekers in the country rose to 2.88 million in March, the highest total since September 1999. The jobless total was up 0.6 percent from … Continue reading
Minimum Wage | Options for a radical reform
Professor Alan Manning, Head of the Economics Department at the London School of Economics where he has taught since 1989, takes steps back from the current annual debate about the appropriate but small rise in the value of the minimum wage to ask a bolder question: are there more radical reforms of the minimum wage that … Continue reading
France | A generation of desperate youngsters
Boualem Ben Moussa has delivered pizzas, worked on a building site, washed dishes in a restaurant and delivered more pizzas. School was not his thing, he says. Now 28, he dropped out at 16 and has since stumbled from short-term contract to short-term contract. But things are looking up. In Lormont, a dreary suburb northeast … Continue reading
Europe’s banks bleed from Greek debt crisis | Reuters
The scars of Greece’s debt crisis were laid bare in heavy losses from a string of European banks on Thursday, and bosses warned the region’s precarious finances would continue to threaten economic growth and earnings. From France to Germany, Britain to Belgium, four of the region’s biggest banks lined up to reveal they lost more … Continue reading
Pensions after the financial and economic crisis: a comparative analysis of recent reforms in Europe
“This paper look at the impact of the economic and financial crisis on pensions policy across Europe, and assesses the first measures proposed and/or introduced in four EU countries. France and Sweden are typical examples of social insurance systems, while Poland and the UK are examples of multipillar systems.” writes David Natali in Pensions after the financial and economic crisis: … Continue reading
Spain faces unemployment pain after embracing austerity in European crisis – The Washington Post
Even while the Socialists were still in power, Spain took the initiative in slashing mercilessly into welfare budgets and reducing salaries, vowing to get a handle on a dangerous pile of deficits and debts. The conservative prime minister elected three months ago, Mariano Rajoy, has pursued the cutback campaign even more vigorously, raising taxes and … Continue reading
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