Job Market Monitor
Italy
Banca Monte dei Paschi di Siena SpA / To cut another 3,360 jobs
Banca Monte dei Paschi di Siena SpA, Italy’s third-biggest bank, pledged to cut an additional 3,360 jobs and increase capital to win support from the European Union for 4.1 billion euros ($5.6 billion) in state aid Continue reading
Europe / Youth Unemployment: A Map
This map from Reuters shows the current levels for the crisis in Europe Continue reading
The 10 nations with the highest total number of millionaire households
These countries were then compared to countries with the highest numbers of households with more than $100 million in AuM, as well as each country’s GDP Continue reading
Italy / Factory jobs ‘disappearing overnight’
Italy is haemorrhaging manufacturing jobs. Since 2007, 55,000 manufacturing firms have folded, taking more than half a million jobs with them. Weak demand at home and high labour costs are not the only factors prompting Italian companies to move to eastern Europe. Carlo Carnevale Maffe, professor of business strategy at Milan’s Bocconi University, blames a … Continue reading
Italy / Recession Hits A Record Duration
Italy’s recession has now extended into an eighth consecutive quarter, meaning it has lasted a record two years Continue reading
Italy / A tax break package to fight youth unemployment
Italy will present emergency measures on Wednesday to try to tackle record-high youth unemployment, including tax breaks for companies that hire young people, Prime Minister Enrico Letta told parliament. Letta has repeatedly said getting young people into work will be the top priority of his fragile, right-left coalition and the package to be approved by … Continue reading
It is not the economy stupid! Spanish and Italians CEOs Best Paid in Euro Zone
Despite posting record unemployment figures in the first quarter of this year, Spain and Italy’s CEOs are the best paid in the euro zone, according to a new report. The annual Pay in Europe survey from The Federation of European Employers revealed that an Italian CEO of a multinational company could receive up to €1,144 … Continue reading
Euro zone’s Youth Unemployment : Germany, France, Italy and Spain to discuss in Rome on June 14
The finance and labour ministers of Germany, France, Italy and Spain will meet in Rome on June 14 to discuss how to tackle youth unemployment, the Italian prime minister’s office said. The issue is high on the agenda of a European Union summit taking place in Brussels on June 27-28. Chosen excerpts by Job Market … Continue reading
Italy / Millions falling into poverty finds ISTAT
Millions of Italians cannot afford to heat their homes properly or eat meat as their country is racked by recession and soaring unemployment, said a report which found the number of people considered seriously deprived had doubled in the past two years. The findings from national statistics institute ISTAT underline the scale of the challenge … Continue reading
Italy / Hiring in recession
Bioplastics group Mossi & Ghisolfi has hired 50 people a year for the last five years – not bad when Italy’s unemployment has risen steadily to a 13-year high above 11 percent. Now a world leader in its field, the Piedmont-based firm is so specialized that, to meet booming demand, it is even wooing home … Continue reading
Unemployment Rates / International Comparison using american concepts
The International Labor Comparisons by the BLS The International Labor Comparisons (ILC) program adjusts data to a common conceptual framework because direct comparisons of national statistics across countries can be misleading due to differing concepts and methods. ILC data are used to assess U.S. economic and labor market performance relative to that of other countries and to … Continue reading
Italy / McDonald’s / 100 new stores, 3,000 new jobs
Fastfood giant McDonald’s believes recession-hit Italy will be one of its higher-growth areas in the coming decade and is opening more than 100 new restaurants to convert pizza-lovers to its burgers. In a country where foreign investment has fallen by almost 30 percent since 2007, McDonald’s Italian arm plans to spend 350 million euros ($457 … Continue reading
Italy / ILVA steel / Govn’t moves to save troubled plant
The future of Europe’s biggest steel plant, in the southern Italian city of Taranto, had hung in the balance after magistrates ordered it to close over accusations that emissions from the site had caused an environmental “disaster”. A decree passed in cabinet on Friday removed court administrators who had been running parts of the plant, … Continue reading
Italy / 20,000 jobs threatened at ILVA plant
Workers stormed Europe’s biggest steel plant ILVA, which faces closure over allegations of an environmental disaster, as Italy’s government raced to save 20,000 threatened jobs. Management closed the factory’s cold rolling facility, which produces finished steel plates, strips and pipes, after a Monday court ruling to seize the plant’s steel output, which the company said … Continue reading
United States and the major European economies – Bouncing Back from the Great Recession
When the economic shocks that cause recessions in different economies have large common components, there may be lessons to be learned by studying how different economies respond write Thomas F. Cooley, B. Ravikumar, and Peter Rupert in Bouncing Back from the Great Recession: The United States Versus Europe in Federal Reserve Bank of St. Louis Economic Synopses (Adapted … Continue reading
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