11.4 million Americans age 16 and over have left the workforce since President Obama took office in January 2009, according to data released today from the Bureau of Labor Statistics (BLS).
In July 2014, there were 92,001,000 Americans, 16 and over, who were classified as “not in the labor force,” meaning they not only did not have a job, but they didn’t actively seek one in the last four weeks.
This number has increased by 11,472,000 since January 2009, when the number of Americans not in the labor force was 80,529,000.
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Microsoft confirmed it will cut up to 18,000 jobs over the next year, part of the tech titan's efforts to streamline its business under new CEO Satya Nadella.
In a statement released Thursday, Microsoft says about 12,500 of the professional and factory positions will be cut as part of its $7 billion acquisition of Nokia's handset business, which the company closed in April.
"My promise to you is that we will go through this process in the most thoughtful and transparent way possible," said Nadella in a memo to employees.
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San Francisco, CA, May 7, 2014 – Results of the 2014 AfterCollege Career Insights Survey, conducted among college students and recent grads, reveal unique glimpses into the millennial mindset, including a growing sense of anxiety about the transition to the working world and whether college is actually preparing students for life beyond the classroom.
Job Market Getting Tougher for College Grads?
83% of graduating seniors said they didn’t have a job lined up as of April 2014, despite 72.7% reporting that they were actively looking for one. This is a jump from the 80% of graduating seniors who didn’t have a job lined up at the same time last year.
These numbers don’t vary significantly, even for more “marketable” majors—81.6% of engineering, technology, and math majors didn’t have jobs lined up, and business students didn’t fare much better with 85.1% saying they hadn’t lined up jobs either.
Students Need More Than Colleges Are Providing for Career Help
Only 52% of 2014 respondents believe college adequately prepares students for the working world. This is a significant drop since last year, when 69.4% of respondents believed college was preparing them for their careers.
Please read more here.
De Beers (mining, not jewelry) is looking for a summer intern to work in its strategy division for 1-2 months. The internship has flexible starting dates.
Scope of work:
Please send your CV and 2-3 lines on your motivation to email@example.com.
The labour force participation rate – the proportion of adults who are either working or looking for work – started to decline in the US in 2000 and has plunged since 2008 from 66 to 63 per cent. The equivalent of 7.4m people are no longer part of the labour force.
Please read more in the Financial Times.