60 million European jobs are at risk from coronavirus
4 years, 8 months ago

60 million European jobs are at risk from coronavirus

CNN  

London CNN Business — Nearly 60 million jobs across the European Union and the United Kingdomare at risk from the coronavirus pandemic, according to McKinsey. McKinsey estimates that one in four jobs across the European Union and the United Kingdom are at risk of a reduction in hours or pay, temporary furloughs or permanent layoffs. The European Union’s coronavirus relief package includes up to €100 billion in wage subsidies aimed at preventing mass layoffs, as well as hundreds of billions in loans to businesses and credit for EU governments. The US labor market is already getting slammed by the pandemic, with around 22 million people, or roughly 13.5% of the labor force, filing initial jobless claims since March 14.

Risk Mckinsey European Jobs  workers  coronavirus  risk  united  market  million  labor  quickly  european  jobs  rate  60  unemployment

History of this topic

US jobs market to be hit with massive layoffs in 2025 amid HMPV virus fears? Experts warn ‘not everyone will have….’
2 days, 21 hours ago

US jobs market to be hit with massive layoffs in 2025 amid HMPV virus fears? Experts warn ‘not everyone will have….’

Hindustan Times  

While the US economy recovers from the shock of the coronavirus pandemic, experts have warned that not everyone will have job security in 2025. US jobs: Workers in a variety of industries received more blows in the closing months of 2024, with several layoff declarations for 2025. Amazon, Boeing and Spirit Airlines announce job layoffs Workers in a variety of …

Job openings rose while hiring dropped in October, labor report shows
1 month ago

Job openings rose while hiring dropped in October, labor report shows

Salon  

Job openings and resignations increased substantially in October while the number of hires and layoffs dropped, according to a Tuesday report from the Bureau of Labor Statistics that showed a mixed picture of the U.S. labor market. The increased number of job openings appeared mostly in professional and business services, as well as service and IT industries, jumping by 372,000 …

US job openings fall to 8.5 million in March, the lowest level in more than 3 years
8 months, 1 week ago

US job openings fall to 8.5 million in March, the lowest level in more than 3 years

Associated Press  

WASHINGTON — U.S. jobs openings slid in March to the lowest level in more than three years, but stayed at historically high levels in a sign that the job market remains resilient in the face of higher interest rates. The Labor Department reported Wednesday that employers posted 8.5 million vacancies in March, down from 8.8 million in February and the …

US job openings rise modestly to 8.8 million in February in strong labor market
9 months ago

US job openings rise modestly to 8.8 million in February in strong labor market

Associated Press  

WASHINGTON — U.S. job openings barely changed in February, staying at historically high levels in a sign that the American job market remains strong. But the Job Openings and Labor Turnover Survey, or JOLTS, showed that layoffs ticked up to 1.7 million in February from 1.6 million in January, highest since March 2023. “Job openings are still elevated relative to …

Pay rising too fast for interest rate cut, economists warn
10 months, 3 weeks ago

Pay rising too fast for interest rate cut, economists warn

The Telegraph  

The number of people kept out of the jobs market by long-term sickness remains near an all-time high, ONS figures showed. One person in every 15 of working age – 6.6pc, equivalent to 2.8 million people – said ill health kept them from working or from looking for a job in the final quarter of 2023. Government must do more …

Britain’s workforce crisis deepens as one in five employers struggle to fill roles
10 months, 4 weeks ago

Britain’s workforce crisis deepens as one in five employers struggle to fill roles

The Telegraph  

The National Institute of Economic and Social Research warned last week that businesses have become “frustrated” with British workers. The number of firms registering to become sponsors to hire abroad has doubled since 2022, as more than nine million people of working age have dropped out of the jobs market. “Employer attention is shifting from helping staff weather the cost-of-living …

U.S. job openings rise slightly to 9.6 million, sign of continued strength in the job market
1 year, 2 months ago

U.S. job openings rise slightly to 9.6 million, sign of continued strength in the job market

Associated Press  

WASHINGTON — Employers posted 9.6 million job openings in September, up from 9.5 million in August and a sign that the U.S. job market remains strong even as the U.S. Federal Reserve attempts to cool the economy. Before 2021 — when the American economy began to surge from the COVID-19 pandemic — monthly job openings had never topped 8 million. …

U.S. employers added 336,000 jobs in September in a sign of economic resilience
1 year, 3 months ago

U.S. employers added 336,000 jobs in September in a sign of economic resilience

LA Times  

A FedEx driver makes deliveries in Palatine, Ill. Friday’s report from the Labor Department showed that the unemployment rate was unchanged at 3.8%, not far above a half-century low. The nation’s employers added 336,000 jobs in September, an unexpectedly robust gain that suggests that many companies remain confident enough to keep hiring despite high interest rates and a hazy outlook …

Revealed: 1.2M Americans lost their jobs last month to 688K foreigners
1 year, 4 months ago

Revealed: 1.2M Americans lost their jobs last month to 688K foreigners

Daily Mail  

Staggering figures have revealed that over 1.2million US-born workers lost their jobs last month while the foreign-born workforce increased by 668,000 - as migrants continue to flood across the border under the Biden administration. Data from US Bureau of Labor Statistics show that between July and August, there was a staggering decrease of 1.223million native-born people in the workforce - …

Employment levels still lower than before pandemic, analysis suggests
1 year, 5 months ago

Employment levels still lower than before pandemic, analysis suggests

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Employment remains lower in the UK than before the pandemic, …

UK employment hits record high but the economy is still short 1 million workers
1 year, 6 months ago

UK employment hits record high but the economy is still short 1 million workers

CNN  

London CNN — The number of people in work in the United Kingdom has climbed above its pre-pandemic level for the first time, reaching a record high. Employment hit a record 33.1 million between February and April, with increases in both the number of employees and self-employed workers, the Office for National Statistics said Tuesday. Economists said the rise in …

The jobs market is getting tougher for those looking for work
1 year, 7 months ago

The jobs market is getting tougher for those looking for work

The Independent  

There was a certain synchronicity in Vodafone announcing plans to axe 11,000 jobs from the group’s workforce on the day the Office for National Statistics unveiled its latest look at Britain’s noticeably tightening jobs market. Labour shortages are still a bigger problem than unemployment – but the jobs market is getting tougher for those trying to navigate it as vacancies …

UK jobs market falters as unemployment rate rises and company payrolls shrink
1 year, 7 months ago

UK jobs market falters as unemployment rate rises and company payrolls shrink

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. In another sign of a flagging jobs market, the …

US job openings dip to 9.6 million, lowest since 2021
1 year, 8 months ago

US job openings dip to 9.6 million, lowest since 2021

Associated Press  

WASHINGTON — U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates. The Labor Department’s Job Openings and Labor Turnover Summary, out Tuesday, showed that layoffs rose to 1.8 million, the highest level since December 2020. The number of Americans …

The U.S. job market is still healthy, but it's slowing down as recession fears mount
2 years ago

The U.S. job market is still healthy, but it's slowing down as recession fears mount

NPR  

The U.S. job market is still healthy, but it's slowing down as recession fears mount Enlarge this image toggle caption Anna Moneymaker/Getty Images Anna Moneymaker/Getty Images The U.S. job market closed out 2022 on a high note. Employers added 223,000 jobs in December, capping a year in which the economy added 4.5 million jobs, more than refilling the deep hole …

Despite high-profile layoffs, most workers likely to keep jobs if recession comes
2 years, 1 month ago

Despite high-profile layoffs, most workers likely to keep jobs if recession comes

LA Times  

The global economy is stuttering, and some of the world’s biggest names are already laying off thousands of employees. Business Fed officials signal slower pace of interest rate hikes coming ‘soon’ Since the Fed met earlier this month, economic data have shown moderate growth with some signs of slowing inflation amid a still strong labor market. Adrian Orr said the …

Foreign students and their dependents could face curbs as net migration hits half a million
2 years, 1 month ago

Foreign students and their dependents could face curbs as net migration hits half a million

The Telegraph  

Other options could include a clamp down on students exploiting the two-year graduate visas to remain in the UK doing low-skilled work and increasing the salary threshold for skilled workers, which has not been uprated in line with inflation. It is vital we restore public confidence and take back control of our borders.” Migration is high but UK job vacancies …

Fewer Americans claim jobless benefits last week
2 years, 4 months ago

Fewer Americans claim jobless benefits last week

Associated Press  

NEW YORK — Fewer Americans filed for unemployment benefits last week as the labor market continues to stand out as one of the strongest segments of the U.S. economy. Applications for jobless aid for the week ending Aug. 20 fell by 2,000 to 243,000, the Labor Department reported Thursday. The number of Americans collecting traditional unemployment benefits fell by 19,000 …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

Associated Press  

WASHINGTON — Inflation is raging. And the Fed will likely see June’s hiring spree as another reason to keep aggressively raising its benchmark short-term interest rate as it did in March, May and June to try to tame inflation. Here are five takeaways from the June jobs report: HIRING: STRONG BUT SLOWING “The recent numbers usually would be consistent with …

EXPLAINER: 5 key takeaways from the June jobs report
2 years, 6 months ago

EXPLAINER: 5 key takeaways from the June jobs report

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. And the Fed will likely …

US added 428,000 jobs in April despite surging inflation
2 years, 8 months ago

US added 428,000 jobs in April despite surging inflation

Associated Press  

WASHINGTON — America’s employers added 428,000 jobs in April, extending a streak of solid hiring that has defied punishing inflation, chronic supply shortages, the Russian war against Ukraine and much higher borrowing costs. “With labor market conditions still this strong — including very rapid wage growth — we doubt that the Fed is going to abandon its hawkish plans,” said …

The workers hit the hardest
2 years, 8 months ago

The workers hit the hardest

The Hindu  

According to the Centre for Monitoring Indian Economy ’s Consumer Pyramids Household Survey, employment in India fell from 408.9 million in 2019-20 to 387.2 million in 2020-21 and then recovered to 401.8 million in 2021-22. The 7 million jobs lost over the two years since the COVID-19 outbreak is unevenly distributed, so it may be difficult to cover most of …

US added 431,000 jobs in March in sign of economic health
2 years, 9 months ago

US added 431,000 jobs in March in sign of economic health

Associated Press  

America’s employers extended a streak of robust hiring in March, adding 431,000 jobs in a sign of the economy’s resilience in the face of a still-destructive pandemic, Russia’s war against Ukraine and the highest inflation in 40 years. Still, Vincent Reinhart, chief economist at Dreyfus and Mellon, said the numbers show that “the U.S. economy continues to have underlying momentum …

Strong job growth points to COVID’s fading grip on economy
2 years, 10 months ago

Strong job growth points to COVID’s fading grip on economy

Associated Press  

WASHINGTON — In a buoyant sign for the U.S. economy, businesses stepped up their hiring last month as omicron faded and more Americans ventured out to spend at restaurants, shops and hotels despite surging inflation. Yet the February hiring data suggest that two years after COVID-19 sparked a nationwide shutdown and 22 million job losses, the disease is losing its …

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise
2 years, 10 months ago

Unemployment rate down, but does that mean more jobs created? Data suggest otherwise

India Today  

The Covid-19 pandemic severely hit the job market in 2020. The unemployment rate dropped to 6.6 per cent in January 2022, which is lower than the pre-pandemic levels of 7.2 per cent in January 2020. The labour force participation rate fell from 40.9 per cent in December 2021 to 39.9 per cent in January 2022. These two ratios show the …

A likely poor jobs figure for January could prove temporary
2 years, 11 months ago

A likely poor jobs figure for January could prove temporary

LA Times  

Last month, U.S. employers might have shed jobs for the first time in about a year, potentially raising alarms about the economy’s trajectory. Yet even if the January employment report coming Friday were to show a deep loss of jobs, there would be little mystery about the likely culprit: a wave of Omicron cases last month that led millions of …

Job openings rose in December amid worker shortages
2 years, 11 months ago

Job openings rose in December amid worker shortages

Associated Press  

WASHINGTON — U.S. employers stepped up their search for workers in December despite the looming impact of the omicron wave of coronavirus infections. The number of posted jobs rose 1.4% to 10.9 million on the last day of December, compared with the previous month, the Labor Department said Tuesday. The data suggests companies were still desperate to hire workers last …

AP FACT CHECK: Biden puffs up claims of virus, job gains
2 years, 11 months ago

AP FACT CHECK: Biden puffs up claims of virus, job gains

Associated Press  

WASHINGTON — In a self-appraisal that didn’t always fit with the facts, President Joe Biden on Wednesday made the dubious assertion that he’s outperformed all expectations on the pandemic in his first year and inflated his contribution to COVID-era economic growth. Biden himself set higher expectations than have been met when he held a July 4 event headlined a celebration …

A record 4.5 million Americans quit their jobs in November
3 years ago

A record 4.5 million Americans quit their jobs in November

Associated Press  

WASHINGTON — A record 4.5 million American workers quit their jobs in November, a sign of confidence and more evidence that the U.S. job market is bouncing back strongly from last year’s coronavirus recession. The Labor Department also reported Tuesday that employers posted 10.6 million job openings in November, down from 11.1 million in October but still high by historical …

US job openings hover near record, but fewer workers quit
3 years, 1 month ago

US job openings hover near record, but fewer workers quit

Al Jazeera  

Fewer Americans are telling their bosses ‘I quit’, but the economy remains awash in jobs that are going begging. The United States economy is still awash in jobs, government data showed on Wednesday, but fewer Americans are telling their bosses “I quit.” The latest Job Openings and Labor Turnover Survey from the US Department of Labor showed job openings rose …

US adds only 210,000 jobs in November but the picture is mixed
3 years, 1 month ago

US adds only 210,000 jobs in November but the picture is mixed

Al Jazeera  

While the number of jobs created fell far short of analysts’ expectations, the unemployment rate fell to 4.2 percent. The labour market recovery in the United States appeared to downshift sharply in November, with the economy adding only 210,000 jobs, the US Department of Labor said on Friday. “The disappointing 210,000 gain in non-farm payrolls in November suggests the labour …

US unemployment claims drop to new pandemic low
3 years, 2 months ago

US unemployment claims drop to new pandemic low

Live Mint  

The number of Americans applying for unemployment benefits fell to a fresh pandemic low last week, another sign the job market is healing after last year's coronavirus recession. Since topping 900,000 in early January, the weekly applications have fallen more or less steadily ever since and are gradually moving toward prepandemic levels of around 220,000 a week. Overall, 2.1 million …

UK job vacancies hit record high amid worker shortages
3 years, 2 months ago

UK job vacancies hit record high amid worker shortages

Associated Press  

LONDON — Job vacancies in the U.K. rose to a record high of nearly 1.2 million, official figures showed Tuesday, a further sign that the British economy is experiencing worker shortages in an array of sectors as a result of the coronavirus pandemic and Britain’s departure from the European Union. Following weeks of long lines at gas stations as motorists …

UK cities and towns to lose 500,000 jobs due to pandemic, report warns
3 years, 3 months ago

UK cities and towns to lose 500,000 jobs due to pandemic, report warns

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy UK city centres and towns …

Economic oddity: Record job openings and many unemployed
3 years, 4 months ago

Economic oddity: Record job openings and many unemployed

Associated Press  

WASHINGTON — The disconnect is jarring: Across the United States, employers who are desperate to fill jobs have posted a record-high number of job openings. On Wednesday, the Labor Department reported that employers posted 10.9 million job openings in July — the most on records dating to 2000. “But a fair number of unemployed or job seekers don’t feel that …

U.S. Hiring Slows Sharply As Latest Coronavirus Surge Slams The Brakes On The Economy
3 years, 4 months ago

U.S. Hiring Slows Sharply As Latest Coronavirus Surge Slams The Brakes On The Economy

NPR  

Hiring Slows Sharply As Latest Coronavirus Surge Slams The Brakes On The Economy Enlarge this image toggle caption Spencer Platt/Getty Images Spencer Platt/Getty Images Hiring slowed sharply in August as a new surge in coronavirus infections slammed the brakes on the economic recovery. U.S. employers added just 235,000 jobs last month, a sharp slowdown from the torrid pace of hiring …

Job vacancies outstrip unemployment due to coronavirus and ageing
3 years, 4 months ago

Job vacancies outstrip unemployment due to coronavirus and ageing

Dutch News  

The number of vacancies has exceeded the number of people seeking work for the first time in half a century, according to statistics agency CBS. CBS chief economist Pieter Hein van Mulligen said the unprecedented situation was partly the result of the government’s coronavirus support packages, but the underlying reason was the ageing workforce. ‘Since 1971 there has never been …

Job vacancies outstrip unemployment due to coronavirus and ageing
3 years, 4 months ago

Job vacancies outstrip unemployment due to coronavirus and ageing

Dutch News  

The number of vacancies has exceeded the number of people seeking work for the first time in half a century, according to statistics agency CBS. CBS chief economist Pieter Hein van Mulligen said the unprecedented situation was partly the result of the government’s coronavirus support packages, but the underlying reason was the ageing workforce. ‘Since 1971 there has never been …

U.S. job openings hit a record 10.1 million in June
3 years, 4 months ago

U.S. job openings hit a record 10.1 million in June

Associated Press  

WASHINGTON — U.S. employers posted a record 10.1 million job openings in June, another sign that the job market and economy are bouncing back briskly from last year’s coronavirus shutdowns. Job openings rose from 9.5 million in May, the Labor Department reported Monday. In a research report, Contingent Macro Advisors suggested that “this report might offer the first sign that …

US job openings surge to record 9.3 million in April
3 years, 7 months ago

US job openings surge to record 9.3 million in April

Associated Press  

WASHINGTON — U.S. employers posted a record 9.3 million job openings in April with the U.S. economy reopening at break-neck speed. But employers hired just 6.1 million, up 1% from March, according to a Labor Department report Tuesday, suggesting that positions are opening faster than companies can fill them. The result is a labor market that has snapped back quicker …

U.S. job growth picks up in May; unemployment rate falls to 5.8%
3 years, 7 months ago

U.S. job growth picks up in May; unemployment rate falls to 5.8%

The Hindu  

U.S. employers boosted hiring in May as the easing pandemic, helped by vaccinations, pulled more people back into the labour force, offering assurance that the economy’s recovery from the COVID-19 recession remained on track. Non-farm payrolls increased by 5.59 lakh jobs last month, the Labor Department said in its closely watched employment report on Friday. Data for April was revised …

Job loss to remain high due to slow vaccines, COVID variants: ILO
3 years, 7 months ago

Job loss to remain high due to slow vaccines, COVID variants: ILO

Al Jazeera  

The coronavirus pandemic‐induced shortfall in jobs is estimated to remain at 75 million in 2021 and 23 million in 2022. Slower‐than‐expected vaccine rollouts and a resurgence of coronavirus variants in early 2021 have dampened the global jobs recovery forecast, with losses in both working hours and employment remaining high throughout this year and into 2022, the International Labour Organization warned …

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy
3 years, 7 months ago

AP FACT CHECK: Hyperbole from Biden, GOP on state of economy

Associated Press  

WASHINGTON — President Joe Biden and House Republicans alike are revising history when asserting that the new administration set records in U.S. job creation — either the best ever or among the worst, depending on the vantage point. He has created the most jobs in his first three months than any other president — about 1.5 million — but that’s …

Job report: America added way fewer jobs than expected in April
3 years, 8 months ago

Job report: America added way fewer jobs than expected in April

CNN  

New York CNN Business — The pandemic continues to roil America’s economy, setting the job market on its head. That was far less than forecasts of economists, who had predicted America would add 1 million jobs last month. But nothing is normal in this pandemic era, and America is still down 8.2 million jobs versus February last year before the …

Covid lockdown UK: Young black workers are three times as likely to be jobless as whites
3 years, 8 months ago

Covid lockdown UK: Young black workers are three times as likely to be jobless as whites

Daily Mail  

Young black workers are three times as likely to be unemployed as white workers, with more than 40 per cent without jobs in further damning evidence of the harm done to the economy by coronavirus lockdowns. Before the pandemic, between January and March 2020, 10 per cent of young white workers were jobless compared with 25.3 per cent of young …

March hiring accelerated to 916K, yet many jobs remain lost
3 years, 9 months ago

March hiring accelerated to 916K, yet many jobs remain lost

Associated Press  

WASHINGTON — America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen. Even with last month’s robust increase, the economy remains more than 8 million jobs short of the number it …

U.S. Employers Add 916,000 Jobs In March As Hiring Accelerates
3 years, 9 months ago

U.S. Employers Add 916,000 Jobs In March As Hiring Accelerates

Huff Post  

LOADING ERROR LOADING WASHINGTON — America’s employers unleashed a burst of hiring in March, adding 916,000 jobs in a sign that a sustained recovery from the pandemic recession is taking hold as vaccinations accelerate, stimulus checks flow through the economy and businesses increasingly reopen. Even with last month’s robust increase, the economy remains more than 8 million jobs short of …

US added 916,000 jobs in March, but COVID uptick may offset gains
3 years, 9 months ago

US added 916,000 jobs in March, but COVID uptick may offset gains

Al Jazeera  

The gradual reopening of businesses — and increases in capacity limits — have helped firms rehire workers, and consumer confidence is high. The United States economy added 916,000 jobs in March, edging the unemployment rate down to 6 percent for the first time since the coronavirus pandemic began more than a year ago, data from the US Bureau of Labor …

Why the pandemic left long-term scars on global job market
3 years, 9 months ago

Why the pandemic left long-term scars on global job market

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “The truth is, I want my job back,’’ said …

Jump in hiring fuels optimism for US economic recovery
3 years, 10 months ago

Jump in hiring fuels optimism for US economic recovery

Associated Press  

WASHINGTON — U.S. hiring accelerated more quickly than expected last month, evidence that a year after the pandemic took hold, the economy is strengthening as virus cases drop and vaccinations ramp up. “The recovery really has some legs, some momentum now,” said Odeta Kushi, deputy chief economist at First American Financial Corp. Stocks see-sawed through the day but ended sharply …

Discover Related