toplanguagejobs.ie, Europe ‘s Number 1 Specialist Provider of bilingual jobs and multilingual jobs goes back through the last 12 months to sum up international markets.
Jan 2009 – Google to cut 1—recruitment jobs
Even though Google revenues being an estimated $ 23,650,563 and an improvement of 9% on 2008, Google cut 100 recruitment jobs in 2009. This was one of the most talked about items in Q4 of 2009 purely because a lot of people believed a small percentage of companies to be ‘recession proof’, apparently the recession hit everyone. Google also fell $13.35 or 4.3pc to $300.97 on the 15 th January 2009 in Nasdaq stock market trading.
February 2009 – U.S. lost 598,000 jobs in January
The second highest report story over the last three years was the gloomy financial impact of the recession on the U.S job market as a whole. Employment in the U.S. jumped by 7.6% in one month alone. Since the recession began in 2007, the US has lost 3.6 million jobs in total (until 2009)
“It’s also important to keep in mind that the job market is local – the most recent unemployment rates coming out of major metropolitan areas like Milwaukee, Baltimore, Boston and D.C., for example, reflect much brighter employment pictures than other regions of the country,” said Tig Gilliam, CEO of Adecco Group North America, in a statement. “Even more critical than where you live or what you do, educational accomplishments have the greatest impact on an individual’s ability to find a job.”
Manufacturing and construction were the hardest hit with a total in excess of a quarter of a million jobs. Los Angeles was also the hardest hit city in the recession losing 82,000 jobs in 2008.
December 2009 – Europe stocks jump on US jobs data
In third place the most talked about story was that European stock markets looked to overtake recovery of due to lack of improvement In US employment that revived hopes of a total recovery. The FTSE gained 0.2% while the Paris rose 1.3% & 1.1% in Amsterdam.
European stocks gained slightly after the publication of the US job report. British Airways jumped 2.81% after Citigroup raised its recommendation on the share from ‘buy to ‘hold’.
Analysts cautioned that the improved but mixed labour picture could be a blip as unemployment continued to rise.
‘This report, despite its unevenness, will likely create some real euphoria in the investor community. It is the first time we can start thinking that the job situation may be turning around with some gusto,” said Joel Naroff of Naroff Economic Advisors.
Heidi Shierholz of the Economic Policy Institute said the report showed ‘‘finally some healing” but warned that ‘‘unemployment … is expected to continue on an upward trend until we start adding jobs in a healthy way, which will likely not happen until next spring or summer.’
December 2010 – US loses 85,000 jobs in December
The fourth most talked about story was the US unemployment rate finally holding steady on 10.0% with renewed optimism from the government reporting a turnaround in the labour market.
Gains in jobs were key at this point showing a turnaround was possible. With a net gain of 4,000 jobs in November rather than the reported 11,000 loss was the first positive month after 22 months of losses.
“We’re getting a steady but very slow improvement in the job market,” said Robert MacIntosh, economist at Eaton Vance.
Most notable mention – Government sector employment fell by 21,000 in the month.
January 2011 – Obama to recast agenda to focus on jobs, deficit
President Barack Obama recast his high-stakes address to the American people on 27 th January 2011 to address jobs and the economic deficit that has been plaguing the west since 2007.
The main purpose of the address was to convince his ‘prime-time’ audience that he understands the economic pain and blight that is being inflicted on them and his proposals for a new job-creation push.
The overall deficit for the US is was estimated at $1.35 trillion in 2010.
Via EPR Network
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