US Economy Creates 242,000 jobs in February

The US economy added 242,000 jobs in February, figures show, far better than the 190,000 expected by economists.

The Labor Department numbers underlined the strength of the US economy and may allow the Federal Reserve to gradually raise interest rates this year.

 

The figure for February was also much higher than the 151,000 jobs added in January.

The unemployment rate was unchanged from January at 4.9% - an eight-year low.

Another 30,000 jobs were also added to the revised December and January figures.

Women’s Jobs at risk in Fourth Industrial Revolution

The Fourth Industrial Revolution will have a disproportionately negative impact on the economic prospects of women, although the emphasis on talent brought about by sweeping changes caused by disruptions to the labour force will result in more women progressing into senior positions, a new study by the World Economic Forum has found.

According to The Industry Gender Gap Report, published yesterday in Davos, the burden of job losses that will result from automation and disinter-mediation as a result of the Fourth Industrial Revolution will impact on women and men relatively equally, with 52 per cent of the 5.1 million net job losses expected globally between now and 2020 affecting men, compared with 48 per cent affecting women. However, the fact that those women make up a smaller share of the workforce means  that today’s economic gender gap may widen even further than the current 40 per cent.

 

This blow to gender equality can be explained by the fact that some of the roles most at risk from automation and disintermediation are those that are performed by a larger proportion of women; for example, in the Office and Administrative” job family. However, it is also partly a result of the fact that women are relatively under-represented when it comes to jobs that are expected to have the most growth in the next five years; for example, the Computer and Mathematical and Architecture and Engineering job families.

FirstBank partners NESG to tackle on sustainability, as Summit is on...

FirstBank of Nigeria Limited has partnered the Nigerian Economic Summit Group (NESG) to host the 21st Nigerian Economic Summit with the theme: ‘Tough Choices: Achieving competitiveness, inclusive growth and sustainability.’

This summit, scheduled to hold in Abuja from October 13 – 15, will highlight the significant role of public-private sector dialogue in national transformation. The summit is organised to drive “consciousness and build national consensus on what is urgently required to rebuild, revamp and reinforce public-private collaboration for an all-inclusive economic growth.”

 

Jobs outside London paying below living wage

Some 23% of jobs outside London paid less than the living wage in 2014, compared with 19% in London, the Office for National Statistics (ONS) said.

 

The living wage in April 2014 was £8.80 an hour in London and £7.65 an hour outside London.

This wage is set by the Living Wage Foundation and Mayor of London.

The living wage rates have since been increased to £7.85 an hour outside London and £9.15 in London, and are expected to be uprated next month.

Boots sheds 700 jobs in cost-cutting

The jobs to be cut will be non-store based and affect only Boots' UK-based offices.

 

The move follows the company's merger with US giant Walgreens, which took effect at the end of last year.

Boots said the cuts would "simplify support operations" and that it would attempt to redeploy, retrain and offer redundancy to those affected.

7 Management Traits

That Will Make All Your Employees Quit

Have you ever had a REALLY bad boss? Well I have. This individual drove everybody out and the company had to close the regional office, because everyone quit or was fired. 

 

I quit after being there for just 6 months; and, only days after being recognized as the region's top new sales professional.

 I couldn't take it any longer! This job was so bad that I don't even list it on my resume or LinkedIn profile. Nothing was done to fix the situation, even after several people complained to HR, and one individual recorded a meeting in which he was verbally assaulted and threatened. Here are some traits that my former manager exemplified that led to the shutdown of the office and the mass exodus of employees.

Micro Management

Nobody likes to be micro managed. Be a leader not a micro manager. Be someone that your employees admire and want to work hard for. Do this by leading by example with your work ethic, integrity, and by treating people with respect. Do not constantly threaten people with their job. If this is your idea of coaching your team, then you should not be in management. As the boss you should be the teacher and find ways to help people improve. Managing by fear will make your employees resent you and the company. The first chance they get they will jump ship. My old boss locked the back door, so we had to pass by his office every time we left the office so he could keep tabs on us.

Do Not Create Office Politics

This manager pitted his people against one another. He told one person one thing that someone said and then told the other person the same thing. Office politics kill morale and as the manager you should be doing things to prevent it not perpetuate it. Don't be vindictive. Create a positive environment where people want to come to everyday.

Do Not Lie and Be Mean to Customers

I caught this individual lying to customers on more than one occasion. Additionally, in a meeting with a CFO of a local company, he was so mean and rude that she actually threw the quote across the table at him. Then she kicked us out of her office, said she would NEVER do business with us, and told us to not come back. Yes, this was the low point of my career. It was truly an out of body experience.

Keep Your Dirty Laundry at Home

My former manager was always telling us about the drama that was happening at his house between him and his wife. Imagine that, his wife didn't like him either. It made everyone uncomfortable and resent him even more.

Don't Gripe About Your Employees Working Hard if You Are Not Yourself

We caught him watching YouTube videos all the time in his office. Then he would take every chance he could get to tell us all how worthless we all were and that we weren't working hard enough.

Abrasive Communication

He used to curse during meetings at employees and use public humiliation to put people down. Again, do this and your employees will quit.

Arrogance

Nobody likes someone that is a know it all and can do no wrong. Don't take all the credit when things go right and then be the first to pass blame when things go wrong.

Have you ever had that pit in your stomach develop on Sunday just from the thought that Monday is only a day away; and, you know you have to go back to work? Well, I am glad I don't have it anymore! That place is my rear view mirror. If your manager exemplifies some of these traits, maybe just anonymously drop a copy of this article on his or her desk.

By

John White