Employment

According to the findings of a new survey by KPMG US manufacturing and service industry executives are now more optimistic about the prospects for the US economy. Both sectors believe that the worst of the crisis has passed for America.

68% of manufacturing executives expressed their belief that business activity will be higher in the next 12 months, up from 57 percent in October.

41% of the same executives say they have plans to employ more in the coming weeks and months. Five months ago that figure was 28%.

AOL Inc plans to contract its staff by 900 job positions which is about 20% of its global workforce. With 5,000 workers AOL will cut nearly 400 jobs in India, outsource another 300 there, and eliminate 200 jobs in the United States, a source close to the company said. At its peak AOL had over 20,000 workers.

However, since the 2001 takeover of Time Warner Inc and its spin off in 2009, the AOL has been sadly declining.

A new report from the US Federal Reserve published this week revealed that American economy strengthened by the year end. The Beige Book report showed a very bright picture of the US progress but it has made little impression on experts.

Federal Reserve reported better conditions across all 12 of its districts, though banking and financial services showed results that varied by region.

"Economic activity continued to expand moderately from November through December," the central bank said in a statement.

According to the data provided in the research from the Equality and Human Rights Commission men are suffering heavier from the recession than women and young people are taking it worse than other people. The survey shows that the over-50s seem to dealing with the downturn better, maybe because they're prepared to be more flexible.

Besides, the survey found that disabled people with few qualifications are less likely to find the job now than in 1970s. Nearly 38% of low-qualified disabled men are working now, compared to 77 per cent in the '70s.

While the White House together with economists are trying to persuade Americans that the economy is improving and that it has already turned the corner the study conducted by The Harris Poll of 2,755 adults shows that people in the United States are not inclined to believe optimistic reports and forecasts.

The poll reveals that 67% of the Americans give President Obama negative ratings on the overall job he is doing on the economy while 33% give him positive ratings.

Largest UK banks Lloyds and Royal Bank of Scotland reported their plans to lay off more staff this year. RBS announced that it is laying off 221 techies at its Dublin Technology Centre. The Dublin center is to shut later this year with the loss of 196 jobs and 25 posts in Belfast will also go.

RBS promised that it would offer staff redeployment where possible and try and keep compulsory redundancies to a minimum.

Lloyds also announced it is laying off 585 people as a result of the closure of its personal loan centers.

According to CareerBuilder.com, an online jobs site that surveyed more than 2,700 hiring managers and human resource professionals, one-fifth of employers plan to add full-time, permanent employees next year, up from 14 per cent in 2009.
Just 9 per cent said they plan to cut head count in 2010, down from 16 per cent in 2009, according to the nationwide survey.

U.S. stocks rose on Wednesday after a private-sector employment report showed an improvement from October and the S&P pushed through a key technical level.
U.S. private employers shed 169,000 jobs in November, fewer than 195,000 in October, but worse than forecasts for a decline of 155,000 jobs, according to the ADP National Employment private sector survey.
Gains on Wall Street accelerated after the S&P 500 punched through the 1,111 mark, which it has been unable to maintain in recent sessions.

 According to the recent survey of the National Association for Business Economics today more industries in the United States are experiencing increase in demand and profits which is considered as an additional evidence the economy is improving. The NABE reported that its net rising index (NRI) for demand rose to 23 in the July-September quarter, the first time in five quarters.

 A new survey commissioned by Adecco Group North America, part of Zurich-based Adecco Group, and conducted by Harris Interactive, showed that most of American workers think that their bosses are not honest with one in our wishing to dismiss their bosses if allowed.

On the other hand the survey found that only four in ten workers would take the job of their boss if offered. 2/3 of workers said that they would not change anything about their relationship with their boss.

 The Monster Employment Index Europe declined in September as job offerings decreased by 3%. The drop in the hiring was reported in previously strong areas such as education and healthcare now showing decreasing trends. The index fell by 37% as compared to the records in the previous year. The index also showed that while online job offerings are still declining on a monthly basis the decrease is slower than it was earlier this year.

Thus the index found that:

 According to a new study, employees recruitment will be a top priority for many US companies after the economy returns to normal state. Over 30% of senior executives representing largest American companies say that staff enlargement will be first in the list of their tasks, reports the survey.

Meantime, 21% say they will increase salaries to their existing workers and 15% say they will increase or reinstitute bonuses.