California's unemployment rate rose to 10.1% in January, its highest level in a quarter century, as recession tightened its grip on the most populous U.S. state. Weakness in the housing and consumer sectors helped drive the jobless rate up from a revised 8.7% in December and 6.1% in January 2008 and to above the national average in January of ... [full story]
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Market participants are preparing for another week of soft data, but the main event is expected to be on Friday with the release of Canadian and U.S. employment figures for January. Other key data releases of the week include the ISM manufacturing and non-manufacturing indexes, the ADP employment report on Wednesday and personal income and spending figures on Monday. ... [full story]
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Aimed at enhancing the women participation in National Rural Employment Gurantee scheme, a Nrega Padyatra was held in Bidhanoo development block on Thursday. The padyatra was taken out under the leadership of joint magistrate Naveen Kumar and joint development commissioner Abrar Ahmad. Kumar on this occasion apprised that womens minimum participation under the Nrega was 33 percent. ... [full story]
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Singapore’s unemployment rate in the last quarter of 2008 rose to a seasonally adjusted 2.6 per cent, up from 2.2 per cent in the third quarter on rising retrenchments with slowing employment growth and a weaker economy. According to official data from the Ministry of Manpower (MOM) released Friday, about 73,100 Singapore residents were jobless in December, a steep ... [full story]
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The near doubling of the unemployment rate in North Carolina in the past year has been enough to knock the breath out of even seasoned economists. And the 2009 job market is likely to get worse before it gets better -- if it does, the economists say. The state unemployment rate reached its highest point in more than ... [full story]
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Microsoft is to cut 5,000 jobs, more than 5 per cent of its workforce, in the first company-wide cuts in its history. The company posted disappointing results for its second quarter after sales of its dominant Windows operating system was hit by weakening demand for PCs. The news from the world's largest software maker, which had not been ... [full story]
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The loss of 533,000 nonfarm jobs in November, announced in the Labor Dept.'s employment report released on Dec. 5—after huge revisions to the payroll loss numbers reported for September and October—makes clear that the U.S. economy hit a brick wall in September and has been spiraling downward ever since. The nation's various economic data will set many post-Depression records during ... [full story]
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Prime Minister Gordon Brown pledged on Sunday to create 100,000 jobs through a public works programme and said he would press banks to resume normal lending as Britain faces its sharpest economic downturn in decades. Britain is starting 2009 with rising unemployment, plummeting house prices and a drying-up of lending by cash-strapped banks. Brown's government has pumped 37 ... [full story]
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The Illinois Department of Employment Security has expanded the hours of a telephone filing service in response to the rising number of applicants for unemployment benefits. Filing also is available through the Internet. Department officials said the TeleServe System filing hours have been expanded to 6 a.m. to 8:30 p.m. Monday through Friday. Hours had been 7 a.m. to ... [full story]
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Employment in Bahrain shot up by 10.5 per cent during the third quarter of this year, it was revealed yesterday. Most of the jobs went to expatriates, with Bahraini employment up by 3.5pc, compared to a 4.1pc growth in the previous quarter, said the report published in the Bahraini Labour Market newsletter. Non-Bahraini employment grew by 13pc, taking ... [full story]
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Over 50,000 IT professionals in the country may lose their jobs over the next six months as the situation in the sector is expected t o worsen due to the impact of global economic meltdown on the export-driven industry, a forecast by a union of IT Enabled Services warned. "...there would be 50,000 job losses (IT and BPO put ... [full story]
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In the two months since federal regulators seized and sold Washington Mutual's banking operations to JPMorgan Chase & Co., WaMu employees have been resigned to the likelihood that thousands of them would be out of work. On Monday, they found out just how many: 3,400 employees, out of 4,300 the company had in Seattle at the time of the ... [full story]
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It’s a big day for both Canada and the U.S., with the release of November employment data. Canadian employment will be the first release of the day. Economists are forecasting 25,000 jobs lost, following October’s 9,500 jobs gained. The unemployment rate is expected to move higher to 6.4% following October’s reading of 6.2%. In the U.S., economists are ... [full story]
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Banking giant HSBC is set to axe around 500 UK jobs, including computer services and clerical positions, according to a Bloomberg report. Citing sources familiar with the matter, Bloomberg says some of the jobs will go from HSBC's Canary Wharf headquarters. The bank has refused to comment on the report but a formal announcement on the cuts may come ... [full story]
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Louisiana's non-farm employment increased by 10,900 jobs in October, a sign that the regional job market is recovering from a destructive hurricane season, the state's labor department said Tuesday. On a non-seasonally adjusted basis, the state also had 9,900 more non-farm jobs last month than it did in October 2007, according to the Louisiana Workforce Commission. Tim Barfield, ... [full story]
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JPMorgan Chase & Co (JPM.N: Quote, Profile, Research, Stock Buzz) is cutting 10 percent of its investment banking staff -- about 3,000 jobs -- as the economic slowdown starts to bite into its earnings, people familiar with the situation said on Thursday. JPMorgan shares slid as much as 18 percent as one analyst said the cuts could reflect greater-than-expected ... [full story]
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The city shuttered three employment agencies as part of a months-long probe that revealed thousands of dollars were bilked from job seekers who shelled out cash for bogus fees, officials said Wednesday. The Department of Consumer Affairs' 18-month-long investigation resulted in the collection of $160,000 in fines and more than $80,000 in restitution for the swindled applicants. Consumer ... [full story]
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The Human Rights Commission of the Maldives (HRCM) has called on all employers, including tourist resorts, to afford their employees the full enjoyment of their rights under the Employment Act 2008. In a statement issued on Sunday HRCM expressed that the necessary support and cooperation is got been afforded to enjoyment of human rights under Employment Act 2008 by ... [full story]
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The Honourable Jim Flaherty, Minister of Finance, and the Honourable Diane Finley, Minister of Human Resources and Skills Development, today welcomed the Canada Employment Insurance Commission’s decision to hold the Employment Insurance (EI) premium rate for 2009 unchanged at $1.73, its lowest level in 15 years. "Given the current challenges posed by global economic instability, Canadian workers and businesses ... [full story]
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The number of people working in construction has fallen by almost a fifth over the 12 months to September, according to figures released by the Central Statistics Office today. The CSO data shows the contraction in the sector had accelerated during the summer with the result that employment in the sector had fallen 18.6 per cent by the end ... [full story]
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he United Arab Emirates (UAE) has launched the first phase of an extensive survey on the country's employment conditions as part of the government's strategy to build a national statistical system, local newspaper Gulf News reported on Thursday. The survey is conducted by the Ministry of Economy in cooperation with the statistics centers of Abu Dhabi and Dubai, ... [full story]
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PROPOSALS to protect trade union members from unfair dismissal and make it easier for unions to ballot members could be approved by Parliament next week. Left-wing Labour MPs have succeeded in proposing amendments to the Government’s Employment Bill which include parts of John McDonnell’s Trade Union Freedom Bill, killed off by ministers and Tory MPs last year. One ... [full story]
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Employment growth in Singapore slowed in the third quarter, with the job market expected to deteriorate further as the global financial crisis takes its toll on an economy already in recession. Singapore added 57,800 jobs in the third quarter, lower than the 71,400 created in the April-June period, preliminary data from the manpower ministry showed on Friday. The ... [full story]
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Initial jobless claims (the number of Americans filing for unemployment insurance the first time) last week were 479,000—the same as the week before, the Labor Department reported. Claims in the comparable period last year were 332,000. Ian Shepherdson, chief U.S. economist at High Frequency Economics, says: "There can be no question that the labor market is deteriorating; the only ... [full story]
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Bill Reilich Sr. and Dave Garretson both agree that the top issue facing voters involves jobs, but their thoughts on the issue vary. Reilich, a Republican incumbent, and Garretson, a Democratic political novice, are vying for the state Assembly's 134th District seat. Reilich, who has held the post for three two-year terms, said government should not create jobs ... [full story]
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The Greek government is expected to announce in the days to come measures meaning to ease the repercussions the global financial crisis has brought on. According to information, the measures will consist of a package of interventions to protect real economy, with emphasis being put on growth and employment, and support the low-income earners. With all eyes fixed on ... [full story]
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The Chamber of Commerce in the Australian city of Sydney is warning that university graduates could have difficulties finding a job in the coming months. The group says the global financial crisis is forcing employers to tighten their belts and avoid hiring new staff. The executive director of the chamber, Patricia Forsythe, says there will be a significant ... [full story]
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Tennessee’s industrial employment continues to drop this year, falling 3.3 percent in the last 12 months, according to a study by the Tennessee Manufacturers Register. The study, which compiles state statistics annually published by Manufacturers’ News Inc., reported Tennessee lost 15,110 industrial jobs from September 2007 to September 2008. Memphis, the largest manufacturing city in the state with ... [full story]
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- Louisiana's non-farm job employment dropped by 4,500 jobs in September, a month during which two hurricanes disrupted business in wide sections of the state and made it difficult to gauge how the national economic downturn factored in. On a non-seasonally adjusted basis, there were still 5,700 more jobs last month than in September 2007, the Louisiana Workforce ... [full story]
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The Council for Economic Planning and Development (CEPD) will come up with an employment promotion program for 2009-2012 in the hope of keeping the country's unemployment rate at 3.9 percent or lower, CEPD Deputy Chairman Shan Gee said Thursday. Shan made the announcement after the Executive Yuan's Directorate General of Budget, Accounting and Statistics (DGBAS) on Wednesday reported that ... [full story]
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Virginia's September unemployment rate was 4.2 percent, up 1.2 percentage points from the same time a year ago, and the highest jobless rate for the month since 1996. The Virginia Employment Commission says last month's unemployment rate was down from 4.6 percent in August, as extra business activities associated with the start of a new school year overrode recent ... [full story]
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Tennessee’s industrial employment continues to drop this year, falling 3.3 percent in the last 12 months, according to a study by the Tennessee Manufacturers Register. The study, which compiles state statistics annually published by Manufacturers’ News Inc., reported Tennessee lost 15,110 industrial jobs from September 2007 to September 2008. Memphis, the largest manufacturing city in the state with ... [full story]
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