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By Elodie MAZEIN The United States is grappling with a shortage of maintenance workers in the aviation industry, with baby boomers retiring and others changing jobs during the pandemic. This comes as the global fleet of commercial aircraft is set to balloon a third by 2034, involving more than 36,400 vessels, according to a recent study by consulting firm Oliver Wyman. In its wake, spending in the maintenance, repair and overhaul market is projected to […]
By Beiyi SEOW WASHINGTON, Feb 2, 2024 (AFP) – The US labor market smashed expectations last month in a surprise hiring pick-up, government data showed Friday, with a resilient jobs market likely good news for President Joe Biden in election year. The world’s biggest economy added 353,000 jobs in January, after December’s figure was significantly revised upwards to 333,000, said the Department of Labor. The unemployment rate held steady at 3.7 percent for a third […]
London, United Kingdom (AFP) UK workers will be able to request flexible employment from the first day of a job under government plans announced Monday. It comes after millions of mainly office workers continue to work from home, at least part of the week, in the wake of the Covid pandemic. “Millions of employees will be able to request flexible working from day one of their employment, under new government plans to make flexible working […]
Washington, United States | AFP | Hiring in the US economy slowed slightly in September, as expected, while the jobless rate ticked back down to the same level as July, the government reported Friday. The data showed 263,000 jobs were added last month, while the unemployment rate slipped two-tenths of a percentage point to 3.5 percent, the Labor Department said. The steady slowdown in new positions added in the world’s largest economy is good news […]
BEIJING, China (AFP) — China’s factory output and retail sales remained weak in May, official data showed Wednesday, with tepid demand and lingering Covid restrictions putting a damper on growth in the world’s second-largest economy. The government is persisting with a zero-Covid strategy to stamp out clusters as they emerge, but this has placed companies and consumers at the mercy of snap, economically damaging lockdowns. Retail sales sank 6.7 percent on-year in May, the National […]
The number of foreign-born workers in the United States neared pre-pandemic levels last year, reaching 17.4 percent, according to government data released Wednesday. The foreign-born labor force increased by 671,000 compared to 2020, rising to 27.9 million, the Labor Department said. However, it remains below the pre-pandemic level of 28.4 million. The unemployment rate for that group fell to 5.6 percent in 2021 from 9.2 percent the prior year. The size of the native-born […]
A record number of baby boomers that are set to retire from the labor force threatens to compound a worker shortage in Canada, according to data from a 2021 census released Wednesday. “Never before has the number of people nearing retirement been so high,” Statistics Canada said in a statement, with more than one in five workers (21.8 percent) close to the mandatory or proposed retirement age of 65. The statement cited the boomer cohort’s […]
Around 200,000 employees of foreign companies in Moscow could lose their jobs due to sanctions over Russia’s military campaign in Ukraine, the city’s mayor said on Monday. “According to our estimates, about 200,000 people are at risk of losing their jobs,” Moscow Mayor Sergei Sobyanin said in a blog post. He said authorities had last week approved a $41-million programme to support employment in the Russian capital. “First of all, the programme is aimed at […]
LONDON, United Kingdom (AFP) — Britain’s unemployment rate eased as the economy reopened, but vacancies hit another record peak before the end of the government’s furlough jobs support scheme, data showed Tuesday. The unemployment rate — or proportion of the workforce that is unemployed — dropped to 4.5 percent in the three months to August, the Office for National Statistics said in a statement. That compared with 4.6 percent in the three months to the […]
Delays and price hikes are anticipated in the United States for holiday merchandise, a Federal Reserve official warned Sunday, calling for more to be done to boost the workforce. “Right now, we see consumers trying to get out early and spend their money to get their goods before they run out,” Mary Daly, head of the San Francisco branch of the US central bank, told CBS. When shopping for the upcoming holidays, “people are buying […]
by Chris Stein WASHINGTON, United States (AFP) — The key US government jobs report Friday is expected to show American businesses added hundreds of thousands of jobs last month as vaccines helped the economy return to normal — but with Covid-19 still keeping some people away from the workplace, strong rehiring is no sure thing. Economists expect the Labor Department data will show the world’s largest economy added 720,000 jobs and the unemployment rate ticked […]
by Heather SCOTT WASHINGTON, United States (AFP) — The US labor market faces a lengthy recovery and the economy will not see maximum employment this year, Federal Reserve Chair Jerome Powell said Thursday. While he expressed hope about the restoration of jobs lost during the pandemic, Powell noted that millions of workers have left the labor force. “I think it’s not at all likely it would reach maximum employment this year. I think it’s going […]
