Australia, International News

Australia’s job numbers improved in August

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Economies all over the world have struggled in recent years, as the global downturn continues to have a negative affect on employment levels.  In some places, however, there are signs that the jobs picture is steadily improving.

Bloomberg reports that Australia's unemployment rate stood at 5.1 percent in July, lower than the 5.2 percent it totaled the previous month. Analysts surveyed by the news outlet had expected the country's unemployment rate to rise to 5.3 percent, but were pleasantly surprised.

“The fact that the unemployment rate continues to oscillate within a relatively stable 5-5.25 percent band, with full employment estimated to be a little shy of 5 percent, supports the RBA’s call that policy has been appropriate,” said Jarrod Kerr, director of Australia rates strategy at Credit Suisse Group AG in Singapore in an interview with the news source. “The report does not have enough meat in it to satisfy the bears.”

Not all the news from the Land Down Under has been positive, however. Australian airline Qanatas announced that it would be laying off more than 2,800 in a recent statement after a recent decision by the Fair Work Australia tribunal.

US News

Fed report sheds light on New England jobs market

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According to a recent survey from the Federal Reserve, the jobs market in New England has grown at a slow rate over the summer.

The Boston Globe reports that the recent report from the quasi-governmental agency revealed that the region’s jobless rate stood at 7.1 percent in July, higher than the 6.8 percent last year. The study of six states showed that Rhode Island continues to struggle with an unemployment rate of 10.8 percent, one of the highest in the country.

“Economic growth in New England continued to disappoint along many economic indicators and entailed mostly minor changes since the previous update,” the report stated. “Employment growth faltered, as the region lost 2,500 jobs in June.  Residential real estate provided something of a silver lining for the region as housing permit growth improved markedly from last year.”

Some regional employment experts are feeling more optimistic about job prospects. In an interview with Area Development, New England Economic Partnership vice president and forecast manager Ross Gittell said that states like Vermont, New Hampshire and Massachusetts continued to have lower unemployment rates than the national average.

International News, Middle East

Survey: Dubai technology sector looks to hire

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The United Arab Emirates is a fast growing region of the world, with many opportunities available to those with a financial background.Perhaps the most well-known of all of all the areas in the UAE is Dubai, which according to one recent study is planning to increase staff in the financial sector.

A study by Robert Half revealed that of the approximately 2,200 finance executives surveyed, 52 percent said that they planned to hire by the end of the year. The survey further revealed that 60 percent of those asked said that they were planning on adding staff based on an larger workload. And while there are growing opportunities, 81 percent said that they were likely to hire before the end of the year.
  
"The large majority of finance leaders report difficulties when recruiting skilled finance professionals, particularly in the areas of audit, risk, financial planning and analysis and IT finance,"
said James Sayer, the director at Robert Half UAE,. "Companies looking to attract and retain the most sought-after candidates should review their remuneration structures."

IT professionals all over the world have seen an increase in demand over the past few years. As technology becomes more important, there will likely be plenty of opportunities.

US News

First lady highlights importance of veteran hiring

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The government is putting a major effort into making sure that veterans are able to get a job once they return to civilian life. In one recent event in front of a crowd of Navy members in Florida, first lady Michelle Obama said that, while significant progress had been made, the efforts would continue in the years to come.

According to Mrs. Obama, the White House is seeking to ensure employment for 250,000 returning service members and their spouses by 2014. She touted the success of its current effort, which resulted in more than 2,000 businesses hiring a veteran or spouse and said that she was pleased with the success.

“‘I thought this challenge was pretty ambitious and when we first started out, we only had two companies as our partners,’’ She told the crowd ‘”Soon, those two companies became 20, and then 200 and then 2,000 … These 2,000 companies have not just met our challenge, they’ve exceeded it.”

It’s not just the federal government that is seeking to help veterans. The Satellite Broadcasting Communications Association (SBCA) announced plans to get more former service members jobs in the telecommunications industry.

Construction

Fed report gives insight into job market

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According to a recent study, workers have been forced to change their field of employment during the slower economy.

A report from the Federal Reserve Bank of San Francisco economists studied government data and found that more people than before were taking jobs in different industries. The Wall Street Journal reports that  part of the reason for the slow recovery in the job market was due to lower consumer demand, and not a lack of skilled workers, as many believe. According to the paper, some have speculated that the news means action from the Fed is warranted.

“The analysis in this paper shines a new light on the source of the decline in match efficiency; it is largely due to the change in the occupation mix of job openings and hires,” the Fed stated in its report.

In July, the Federal Reserve came out with its Beige Book, which examined 12 different job markets around the country. Major regions such as Philadelphia, New York and Cleveland all experienced slower job-growth figures.

Northeast US

State governments hoping to improve hiring in manufacturing sector

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Over the past few years, manufacturers in a number of regions have suffered major setbacks, as demand has slowed and operations moved overseas. In some cases, governments have worked to improve the situation.

WTVA-TV reports that state and industry leaders gather at Mississippi State University to discuss a new reshoring initiative, that seeks to bring more firms to the state. One of the hardest-hit industries in the state has been furniture manufacturing, which, according to U.S. Bureau of Labor Statistics cited by the source, lost more than 9,000 jobs between 2006 and 2010.

“I think what we can do is lower the costs of what manufacturers in the furniture industry have. Lower the regulatory costs and enhance their ability through workforce training of their employees so that they can produce world-class products in a global marketplace,” said Jay Moon, the CEO of the Mississippi Manufacturers Association, according to the news station.

Further north, manufacturing is also experiencing a slowdown. According to he 2013 Connecticut Manufacturers Register, there were 1,522 jobs lost from May 2011 to May 2012 in the industry.