India:
Norwest invests $10 mln in Indian social network
A top Silicon Valley venture capital firm has invested $10 million in Indian
Internet community Sulekha.com on a bet the social network site can become a
much bigger player in the fast-growing market. Norwest Venture Partners, led by
Indian-born managing director Promod Haque, said the $10 million in Series A
financing would fund the expansion of Sulekha's focus beyond India's top eight
cities and into new business segments. "Suffice it to say that the goal is to go
into smaller Indian cities," he said in an interview on Tuesday, adding the
English-language site may eventually offer regional dialects. Sulekha encourages
social networking and local commerce in 25 cities in India and around the world.
Beyond self-published blogs and online directories, users can buy and sell
classified advertising, as on Craigslist.com, or do other transactions. (Reuters)
Japan:
Japan's Jobless Rate Rises; Jobs Available Near 14-Year High
Japan's unemployment rate unexpectedly rose, while the number of jobs available
held near a 14-year high. The jobless rate climbed to 4.2 percent in September,
the statistics bureau said today in Tokyo. The number compares with the 4.1
percent median forecast of 33 economists surveyed by Bloomberg News. ``The
stickiness of the unemployment rate at about 4 percent is a sign of strength,''
said Jesper Koll, chief economist at Merrill Lynch & Co. in Tokyo before the
report. ``The question is how many jobs are being created.'' The economy has
added at least 48,000 jobs a month since January and there are signs a
tightening labor market will push wages higher, reversing a decade-long slide in
pay that has sidelined consumers. Nippon Steel Corp. and JFE Holdings Inc.,
Japan's largest steelmakers, plan to raise wages for the first time in six
years. (Bloomberg)
New Zealand:
Overseas talent put off by NZ tax laws
The challenge of attracting and retaining talent from overseas emerged as a key
concern for business at the first Budget Summit held at Parliament yesterday.
The summit gave about 100 senior executives from Australia and New Zealand the
chance to discuss long-term policies they believed should be given consideration
in next year's Budget. Deloitte chairman Nick Main said there were some "rough
edges" around tax rules and regulations that made it difficult for New Zealand
firms to recruit staff from overseas. (NZHerald)
UK:
Poor staff development drives talent to head for the door
More Britons are thinking about leaving their job than in any other major
European economy, new research has revealed, with poor staff development and
inadequate retention strategies largely to blame. As many as a quarter of
Britons are considering changing jobs according to the study by employee
research and consultancy firm ISR. The research also found that many employees
in UK companies think that their organisations are doing a poor job at
motivating and retaining their most talented employees. (Management
Issues)
US:
Out of work in Michigan? Wyoming wants you.
When Zeb and Sharon Goodrich look out their front door these days, they see
antelope, sweeping treeless plains, and dozens of jack rabbits - a far cry from
the view at their previous home in Lake Odessa, Mich. "I miss the trees,"
Mr. Goodrich admits. "I was in shock when I [saw] how many trees there weren't."
On the other hand, he likes that "you feel like you have room to breathe." More
important: He has good work, and lots of it. Goodrich's job as a welder for a
mine- services company pays far better than the welding he was doing back in
Michigan, especially when he factors in the opportunity for overtime. And unlike
the jobs in Michigan, it's not in danger of disappearing any time soon. (The
Christian Science Monitor)
Talent Availability Rather Than
Labor Cost Seen Driving Offshoring
Access to qualified personnel is now most important
decision factor, says Duke University/ Booz Allen
Hamilton study.
Low-cost labor is no longer the most important
factor in decisions on moving work offshore; access
to qualified workers is, contends a Duke
University/Booz Allen Hamilton study released on
Oct. 31. Indeed, indicates the study, companies are
increasingly moving product design, R&D, and other
relatively sophisticated operations to China, India
and other places offshore primarily because they can
provide the highly skilled engineers and science
workers who are in short supply in the U.S. and
Europe. The study took a look at 530 companies in
the U.S. and Europe. (Industry
Week)
Deep Release:
Monster Employment Index Holds Steady in October
Moderating Online Recruitment Activity in Housing Sector and among
White-Collar Occupations Offsets Growing Demand in IT, Defense and
Advertising/Marketing
October 2006 Index Highlights:
- Online demand for professional, scientific, and technical services sector registers third straight month of growth, yielding increased opportunities for workers in IT; arts, design, entertainment, sports and media occupations
- Heightened demand for workers in mining and utilities industries reflects continued natural resources expansion and focus on alternative energy sources
- Stepped-up armed services related online recruitment efforts, along with soaring orders in the aerospace industry, drive up job prospects in military specific occupations
- East South Central region registers sharpest decline in online job availability due to fewer opportunities in Alabama and Mississippi
The Monster Employment Index remained unchanged in October, holding at a level of 172 and demonstrating continued stability in overall U.S. online demand during the outset of the fourth quarter.
The overall Index was partly weighed down last month by further moderating online recruitment activity in industries and occupations related to the housing and construction markets, and previously high-performing white-collar occupations such as management, legal, finance and accounting. Nevertheless, online job demand continued to rise in other parts of the economy, most notably in energy, mining and utilities, within the healthcare sector and among security and military-related positions. Professional and technical services such as IT, design, software, advertising and marketing also exhibited strong online job availability, with computer and mathematical occupations showing 33% year-over-year growth and suggesting continued high demand for qualified technology workers.
While still 29 points higher year-over-year and showing marked improvement compared to last October, the Index recorded its lowest annual growth rate (20.3%) since its inception in October 2003, reflecting an overall slowdown in economic and payroll growth during the third quarter.
"While the October findings of the Monster Employment Index are consistent with other economic indicators that show a slowing down from the rapid pace of economic growth during the first half of 2006, the fact that unemployment rates across the country are at five-year lows suggests little slack in the overall U.S. labor market," said Steve Pogorzelski, Group President, International at Monster Worldwide. "In fact, there are numerous industries where robust expansion and existing labor shortages continue to spur demand for workers, particularly in areas such as advertising/marketing, IT/engineering, healthcare, defense/security and utilities."
Mining; Utilities; and Professional, Scientific and Technical Industry Sectors See Higher Demand for Workers in October
During October, eight of the 20 industry categories tracked by the Index showed greater online demand for workers, led by utilities, which surged 14 points and registered the strongest month-to-month increase. Mining also edged up for the third consecutive month, rising four points. The growth of opportunities in these sectors reflects the increased investment in oil and gas technology, as well as renewed focus on sustainable energy sources, which have driven up demand for skilled workers. Online job availability in the professional, scientific and technical services sector also rose, adding three points and extending a three-month growth trend.
In contrast, online recruitment activity in the wholesale trade sector plunged 13 points, registering the sharpest decline among industries, while demand in transportation and warehousing fell 10 points, following a sharp rise the previous month. At the same time, online demand in the retail trade industry edged one point higher, extending a three-month upward trend in a likely build-up ahead of the end-of-the-year shopping season. Meanwhile, online opportunities in real estate, rental and leasing edged down one point last month and have declined over the year as the cooling housing market appears to have gradually reduced overall staffing needs in the sector.
Military Specific; IT; Arts, Design, Entertainment, Sports and Media Occupations Maintain Steady Growth Pace in October
Twelve of the 23 occupational categories tracked by the Index showed a rise in online job availability in October, with military specific occupations jumping 21 points and registering the strongest monthly rate of increase. Last month's rise was mostly due to heightened demand in the armed services and the aerospace industry, which has recently benefited from a significant surge in bookings for commercial aircraft. Online job availability for computer and mathematical occupations jumped seven points, extending a three-month growth trend amid continued strong demand for IT professionals across the country. Meanwhile, the Index for arts, design, entertainment, sports and media occupations rose six points, and community and social services surged 13 points, continuing a three-month upward trend. Sales related opportunities also edged up, suggesting that retailers may have begun seeking temporary workers to assist with the approaching holiday shopping season.
Among the Index categories showing lower online job demand in October, building, grounds cleaning and maintenance and legal registered the sharpest decline, as both shed 10 points. The education, training and library category also declined, falling seven points and easing back from heightened demand leading up to the start of the school year.
Five of Nine U.S. Census Bureau Regions Register Increased Online Recruitment Activity in October
Online recruitment activity increased in five of nine U.S. Census Bureau regions in October, led by the West South Central region (up four points), which continued to show the strongest year-over-year growth rate due in part to ongoing reconstruction efforts in Louisiana. The East South Central region registered the sharpest decline, falling nine points amid reduced online job availability in Alabama and Mississippi. Alabama's manufacturing industries have reportedly been suffering a downturn, while Mississippi continues to struggle with the nation's highest unemployment rate and a coastal economy that has yet to recover from the devastation caused by Hurricane Katrina last year. Overall, 24 U.S. states saw online job availability climb by varying degrees in October.
To obtain a full copy of the Monster Employment Index report for October 2006, including all charts and tables, please visit http://www.monsterworldwide.com/Press_Room/MEI.html . Data for the month of November 2006 will be released on December 7, 2006.
About the Monster Employment Index
Launched in April 2004 with data collected since October 2003, the Monster Employment Index is a broad and comprehensive monthly analysis of U.S. online job demand conducted by Monster Worldwide, Inc. (NASDAQ: MNST), the parent company of the leading global online careers and recruitment resource, Monster(R). Based on a real-time review of millions of employer job opportunities culled from more than 1,500 Web sites, including a variety of corporate career sites, job boards and Monster, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. All of the data and findings in the Monster Employment Index have been validated for their accuracy through independent, third party auditing conducted on a monthly basis by ARC Research. The audit validates the accuracy of the online job recruitment activity measured within a margin of error of +/- 1.05%.
About Monster Worldwide
Founded in 1967, Monster Worldwide, Inc. is the parent company of Monster(R), the leading global online careers property. Headquartered in New York with approximately 4,600 employees in 35 countries, Monster Worldwide (NASDAQ: MNST) is a member of the S&P 500 Index and NASDAQ-100. More information about Monster Worldwide is available at www.monsterworldwide.com .
About Monster
Monster(R) is the leading global online careers and recruitment resource. A division of Monster Worldwide, Monster works for everyone by connecting quality job seekers at all levels with leading employers across all industries. Founded in 1994 and headquartered in Maynard, Mass., Monster has 34 local language and content sites in 32 countries worldwide. More information is available at www.monster.com or by calling 1-800-MONSTER. To learn more about Monster's industry-leading employer products and services, please visit http://info.monster.com .
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7 "Must Haves" of Next Generation Power Recruiting Technology and many other White Papers.
interbiznet and RetirementJobs.com present
Boomers to Bust Age Bias? Baby Boomers Redefine Retirement
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