News by tag: Job market


Switzerland: unemployment changed trend in January

Swiss unemployment rose in January to 3.7%, compared with 3.5% in December. This was stated this morning by the State Secretariat for Economic Affairs (SECO), according to which in late January the amount of unemployed people registered at the regional offices of placement was 164'466 , 5'094 more than in the previous month and 822 more than in January 2016 . Among young people (15-24 years) the number of unemployed increased by 566 units (+ 2.9%) to reach a total of 19'782, which still corresponds to 1,398 persons less (-6, 6%) compared to 12 months ago. People who are looking for employment were 226'861, 3'448 more compared with December and 4'110 more with January 2016).

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Swiss consumer confidence clearly more optimistic

Switzerland's consumer sentiment improved strongly in the three months to January to its highest level in two-and-a-half years, survey results from the State Secretariat for Economic Affairs, or SECO, showed Tuesday. The consumer confidence index climbed to -3 from -13 in October, marking its highest level since July 2014, the survey conducted among roughly 1,200 consumers revealed. The reading is above its long-term average, after six below-average quarters. "Consumers are clearly more optimistic about where they feel the economy is going as well as being less gloomy about the future development of unemployment and their own financial situation. This is thus the first time that consumers have rated the outlook in many areas as positively as they did shortly before the Swiss franc shock in early 2015" SECO said.

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Basic Income debate to spread over French Presidential Race

Benoit Hamon secured the French Socialist Party's presidential nomination on Sunday, beating rival Manuel Valls. Initial results gave Hamon 58 percent of the vote and Valls only 42. Hamon was the more left-wing choice of the two politicians. He supports a universal basic income and wants to reduce the traditional work week to 35 hours. He has also spoken in support of legalizing cannabis and increased investment in renewable energy. Valls, on the other hand, has called himself a more "Clintonite" leftist with a strong belief in pragmatism and individual responsibility.

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Zurich Insurance to cut 240 jobs in UK

Swiss Life company Zurich will cut 240 jobs in the UK as part of a business restructure. The company said it will remove 240 jobs from the UK business after plans were announced last year to merge the life and general insurance departments. The new structure will be effective immediately but the firm will consult on the job cuts before making any decisions.  Zurich said the jobs cuts would not be in 'market facing' roles and were likely to be from back office positions. It said cuts would be made where there was overlap between life and general insurance positions. 

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UK finance industry could go through a hard period

UK’s powerhouse financial sector would face heightened risk and an exodus of 232,000 jobs without certainty over Britain’s Brexit deal, MPs in the House of Commons have heard. Xavier Rolet, chief executive of the London Stock Exchange Group (LSE), said two thirds of the job losses would be felt outside Greater London, with the blow coming as soon as the euro clearing operation leaves Britain’s shores. Speaking to MPs on the Treasury Select Committee, Mr Rolet said the jobs figure came from a report produced by professional services firm EY for the LSE, which not only took into account the “few thousand” jobs lost from euro clearing itself, but the entire impact on financial services if the operation was moved outside the UK.

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UK: Businesses could pay tax for hiring EU workers after Brexit

The government is seriously considering imposing a £1,000-a-year levy on every European Union skilled worker recruited by British employers after Brexit. Home Office minister Robert Goodwill told peers that the “immigration skills levy” could be introduced for EU migrants and would “be helpful to British workers who feel they are overlooked” in favour of migrants. He went on: “I don’t think many people are aware that in April of this year we are bringing for non-EU workers coming into the UK an immigration skills charge.

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Switzerland: unemployment slightly rose in December

The annual Swiss unemployment rate rose to 3.3% in 2016, a 0.1 point increase on the previous year, according to figures released by the State Secretariat for Economic Affairs (SECO) on Tuesday. This may appear insignificant compared to the average European unemployment rate of 9.8% but it hides the very real problem of those forced to make up for the financial loss faced by their employers due to the strong franc.

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Swiss court rejects lawsuit against FIFA over Qatar World Cup

A commercial court in Zurich has rejected a lawsuit against FIFA that accused the body of failing to project migrant workers in Qatar. The legal action was filed against FIFA last month by Netherlands Trade Union Confederation (FNV) on behalf of a Bangladeshi construction worker employed on a 2022 World Cup project. The lawsuit called on FIFA to force Qatar to adopt “minimum labour standards” for migrant workers.

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Lufthansa: new 3000 jobs in 2017

German airline Lufthansa plans to hire more than 3,000 new staff in 2017, most of them flight attendants, it said in a statement on Wednesday. Lufthansa Group airlines - Austrian, Swiss and Eurowings - are hiring more than 2,200 staff in total, it said. Lufthansa Technik is planning to recruit 450 new staff. 1,400 new jobs will be offered in Frankfurt and Monaco. 500 persons will work at Swiss, 200 at Eurowings and 100 at Austrian Airlines. Lufthansa cabin crew and pilots have gone on strike several times over the last few years as the airline battles to reduce costs. Its cabin-crew union UFO said last month the latest talks over pay and working conditions had failed.

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Ford cancels Mexico plant to invest in Michigan

Ford is canceling plans to build a new $1.6 billion factory in San Luis Potosi, Mexico, and will instead invest some of that money in a U.S. factory that will build new electric and autonomous vehicles. Ford is investing $700 million to expand its Flat Rock assembly plant and hire 700 new workers to build self-driving and electric vehicles along with the Mustang and Lincoln Continental already produced at the Downriver site. Fields said Ford will invest $700 million in the Flat Rock plant to make hybrid, electric and autonomous vehicles. It will also hire around 700 workers starting in 2018. In announcing the Michigan expansion, Fields noted Trump's promise to make the U.S. more competitive by lowering taxes and easing regulations.

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