News 

Job openings climb in January to 7.58 million

“The 7.58 million job openings compares to the 6.54 million people in January who were unemployed, taking the ratio of open positions to those who seek them down slightly to 1.16 from 1.19 in December” writes D C for marketwatch.com. What happened: Job openings rose to the third-highest level on record from a revised 7.48 million in December, with big increases in wholesale trade, real estate, and information industries. Source: marketwatch.com

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Why The Modi Govt’s Claims About Job Creation Are Wrong

“Therefore, to claim higher job creation on the basis of EPFO data is problematic” writes Subhanil Chowdhury for huffingtonpost.com. In this data vacuum, the government machinery is putting out various claims about job creation in the economy based on defective statistical data.The basic problem with analysing EPFO data for employment is that the methodology of the dataset is not clear.If one now looks at the EPFO data, there will be 20 new registered workers, when the increase in employment is only one.The prime minister has said that more than a…

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Wage growth ticks up as Hammond reviews minimum wage

“Wage growth has gathered pace, driving up tax receipts and reducing pressure on stretched households, according to the latest independent figures” writes Tim Wallace for telegraph.co.uk. Pay will grow by 3pc a year thanks to the continuing strength of the jobs market, according to forecasts from the Office for Budget Responsibility (OBR).Opportunities for workers are expected to rise further, with 600,000 new jobs forecast by 2022-23, supporting more wage growth.However, political uncertainty as a result of Brexit may have made wages grow more slowly than might otherwise have been the…

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A troubling trend is developing at the Pentagon after Mattis’ sudden exit

“The number of empty posts is alarming veteran defense officials, who fear too many vacancies are grinding down the Pentagon’s effectiveness” writes Foreign Policy for businessinsider.com. However, Mattis’ departure and questions about Acting Secretary of Defense Patrick Shanahan’s management style, along with the administration’s delay in nominating a permanent secretary, has exacerbated the problem, experts say. Source: businessinsider.com

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Ford says cutting U.S. salaried jobs, doesn’t say how many

“(Reuters) – Ford Motor Co confirmed on Wednesday it is cutting an unspecified number of U.S. salaried jobs as part of a global reorganization announced last year” writes Midwest Communications Inc for 95kqds.com. He said the restructuring “has resulted in some separations of salaried employees and the reassignment of others.”. General Motors Co is halting production in five plants in North America and has cut about 8,000 salaried jobs, or 15 percent of its white-collar workforce.Ford said last year it was working to reorganize its global salaried workforce that will…

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VW brand to cut up to 7,000 jobs for 5.9 billion euro annual savings goal

“WOLFSBURG, Germany (Reuters) – Volkswagen on Wednesday said it will shrink its workforce by up to 7,000 staff, raise productivity and eke out 5.9 billion euros worth of annual savings at its core VW brand by 2023 in a bid to raise VW’s operating margin to 6 percent” writes Midwest Communications Inc for 95kqds.com. “The measures from the earnings improvement program will enable our brand to achieve a competitive return level of six percent in 2022,” Arno Antlitz, Volkswagen brand’s board member for controlling, said in a statement. Source: 95kqds.com

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Volkswagen aims to lift profits by axing jobs

“Volkswagen AG’s VOW namesake brand plans to cut thousands of jobs over the next five years to boost profitability and free up cash for investments into future technologies” writes Max Bernhard for marketwatch.com. At the same time, the Volkswagen brand said it will invest EUR8 billion more than previously planned into future technologies through 2023, bringing the total planned investments at the brand to EUR19 billion.The German company’s passenger-car brand said Wednesday that it plans to invest 4.6 billion euros ($5.2 billion) into the automation of administrative processes. The marque…

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An entrepreneur who’s running for president explains how he’d give every American $1,000 a month and solve the ‘fake news’ problem

“And we’re about to do the same thing to millions of retail jobs, call-center jobs, fast-food jobs, truck-driving jobs, and on and on” writes Anthony L for businessinsider.com. Yang: Well, a universal basic income is much, much easier to administer and much more powerful and effective to getting resources into people’s hands.Read more: A Democrat running for president in 2020 is testing a basic income proposal by giving $1,000 per month to a family Fisher: How do you plan on getting on the debate stage?. Andrew Yang is seeking the…

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It’s official: Apple announces March 25 event

“Apple fans have reason to celebrate today, as the Cupertino-based company officially announced an upcoming event to be held at the Steve Jobs Theater” writes Jack Morse for mashable.com. PT. While it’s not 100 percent clear what the company plans dazzle us with, there is plenty of speculation that it will involve various subscription services — as opposed to something hardware related. Source: mashable.com

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Futures News 

US futures mixed amid growing concerns over global growth; Boeing shares set to fall

“U.S. stock index futures traded mixed on Monday morning with investors still digesting weak jobs data from the previous session” writes Spriha Srivastava for cnbc.com. ET, Dow futures were down about 84 points, pointing to a lower open of more than 30 points.The data come amid growing concern about the global economy.Last week, data showed the world’s largest economy added just 20,000 jobs in February versus an expected gain of 180,000 — marking the weakest month of jobs creation since September 2017. Source: cnbc.com

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