For many, COVID-19 has changed the world of work for good

The upheaval in global labor markets triggered by the coronavirus pandemic will transform the working lives of millions of employees for good, policymakers and business leaders told a Reuters virtual forum on Tuesday.

Nearly a year after governments first imposed lockdowns to contain the virus, there is a growing consensus that more staff will in future be hired remotely, work from home and have an entirely different set of expectations of their managers.

Yet such changes are also likely to be the preserve of white-collar workers, with new labor market entrants and the less well-educated set to face post-COVID-19 economies where most jobs growth is in low-wage sectors.

"I think it would be a fallacy to think we will go back to where we were before," Philippines central bank Governor Benjamin Diokno told the Reuters Next forum.

"We were already geared towards the digital, contactless, industries … That will define the new normal."

The pandemic, which according to a Reuters tally has so far infected at least 90.5 million people and killed around 1.9 million worldwide, has up-ended industries and workers across the globe.

Hospitality and tourism are among those sectors worst-hit by stringent social-distancing rules and travel bans, while sectors that support the work-from-home economy are adding jobs, albeit often in low-wage roles.

"Driving, warehouse, construction - they're actually ahead of where they were last year," Chris Hyams, CEO of the global jobs listings website Indeed, said in an interview to be aired at the forum later on Tuesday.

Hyams said job searches on Indeed last year showed that office workers - who before the pandemic would typically flood the website on Monday mornings looking for a change in job - were now more interested in stability in their working life.

"What we saw for the first six months of pandemic was that employees were much less likely to be looking for something new," he said, adding those workers had now got used to home-working and were above all keen on retaining such flexibility.

But while he said there were already signs that some sectors were now ready to allow up to 70% of their workforces to operate remotely all the time, such benefits would often be reserved for better-educated white-collar workers.

"We believe equity and inclusion will be the next frontier," he warned. "Disparities that already exist in society are going to be heightened and exposed."

THE NEW-LOOK MANAGER

Some of those sectors most badly hit by the pandemic now face a long haul back to anything like their former health.

Australian Competition and Consumer Commission Chairman (ACCC) Rod Sims was pessimistic about the outlook for the aviation industry, seeing no return to normal international travel to and from Australia throughout 2021.

"I think free international travel between Australia and overseas will be a long time away, unfortunately," Sims told Reuters Next, noting how the virus has made a resurgence in Australia after being virtually stamped out late last year.

Other changes are more subtle, but will start to transform the way workers are hired and managed.

Indeed's Hyams said the job interview by Zoom had proven its worth and predicted a "secular shift" towards such practices.

"Employers and job-seekers found it safe, more convenient and much faster ... The future of hiring is going to very much start with remote and video interviewing," he said.

Observers of the workplace also expect the pandemic to fundamentally alter the way managers operate - not least because the current uncertainties mean they must remain open to change.

"It's no longer the role of the CEO to have all the answers," said Laura Storm, founder of Regenerators, a collective formed to spur new thinking about products, services and organizations. "The role of the CEO is to be a chief ecosystem officer or a facilitator."

Hephzi Pemberton, CEO of Equality Group, a consultancy and executive search firm, agreed.

"My hope is that our leadership will look and feel very different," she said, calling for companies to use the moment to fund genuinely long-term diversity and inclusion plans.

-reuters

PH tops Asian countries with highest share of women managers

MANILA, Philippines–The Philippines bested other Asian countries in terms of the proportion of women among managers, a report of the International Labour Organisation’s (ILO) showed.

With a percentage share of 47.6 percent, the Philippines placed fourth worldwide and first in Asia in the latest ILO report on women in business and management.

“In Asia, the highest ranking country is the Philippines in 4th place (47.6 percent), followed by Mongolia with 41.9 percent in 17th place,” the report said.

Jamaica topped the list with 59.3 percent of its managers being women, followed by Colombia at 53.1 percent and Saint Lucia at 52.3 percent.

The Philippines also ranked fifth among countries with the most share of women in senior and middle-level management positions.

“Our research is showing that women’s ever increasing participation in the labor market has been the biggest engine of global growth and competitiveness,” said Deborah France-Massin, director of the ILO Bureau for Employers’ Activities.

The report said a lot has changed in the last 20 years, with women now holding 40 percent of the world’s senior and middle management positions. However, only 5 percent of chief executive officers of the top global corporations are women.

“It is critical for more women to reach senior management positions in strategic areas to build a pool of potential candidates for top jobs such as CEO or company presidents,” France-Massin said.

Last year, the Philippines ranked ninth in the Global Gender Gap report of the World Economic Forum.

source: newsinfo.inquirer.net

Handling Debt When You’re Out Of Work

Nothing is more stressful than losing your job and watching the bills pile up. It isn’t long before your bank account balance plummets, the collection companies start to call, and you feel like you’re drowning in debt.

Don’t panic. You can keep your head above water and your bank accounts out of the negative. Here’s how.











1. Make job-hunting your full-time job.

reduce-debtGenerating an income is your number one priority and the best solution for your financial woes. It may be difficult to find a job in your area of expertise, and it may be even harder to replace a sizeable income in this economy, but that does not mean you can simply wave a white flag and surrender.

    Take what you can get. Desperate times call for desperate measures. Stop holding out for that management position or dream career. A job flipping burgers, cleaning floors, or raking lawns is better than no job at all. And the money will keep the electricity on and the repo man at bay.

    Go part time. A part-time job is also better than no job. Many people juggle two or more part-time jobs to meet their financial obligations.

    Looking for work is a full-time job. Until you are working a full-time job, you do not have “spare” time. You need to keep handing out resumes, applying to job sites, and combing job boards until you are back on your feet again.

2. Examine your debts

Which debts are a priority? If you have any “secured” debt, meaning that the creditor has the right to repossess an asset for non-payment, you will want to keep those up-to-date. The last thing you need is to have your home go into foreclosure or your car repossessed.

You will also need to ensure that the things you need to survive such as electricity, heat, and food are covered.

Also, consider paying off the items with high interest rates like credit cards. These outstanding balances can turn into massive debts if left unpaid.

3. Contact your creditors

Contact your creditors before your accounts slip into arrears. You may be able to negotiate lower payments, lower interest rates, or deferred payments–any of which will help you stay current on your financial obligations and prevent further stress. If you wait until you have become delinquent, they may be less receptive to your request for help.

4. Apply for Unemployment Benefits

Contact your unemployment office the minute you find yourself out of work. The sooner you get your paper work completed and the wheels in motion, the sooner you will receive your benefits. These funds will definitely help keep food on the table while you conduct your job search.

5. Tighten your belts.

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.
Next, devise a budge based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.
And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.
Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

Read more at http://financialhighway.com/handling-debt-youre-work/#tXAYaguMR1VlRDjJ.99

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.
Next, devise a budge based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.
And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.
Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

Read more at http://financialhighway.com/handling-debt-youre-work/#tXAYaguMR1VlRDjJ.99

Begin by separating your necessities from the expenses that you can survive without. For instance, you need heat, but you don’t need satellite TV.

Next, devise a budget based on these necessities and stick to it. Eliminate extra expenses until you are back on your feet again and, then, introduce them gradually. You may find that you don’t need some of them after all.

And don’t put extras on credit cards. A mounting credit card debt can be disastrous–growing rapidly due to high interest rates. Snipping your credit cards in half would be the best move.

Unemployment is stressful. Unemployment coupled with debt can feel like an insurmountable burden. So don’t let your debt drag you down to the depths of despair. By sticking to a plan, being proactive, and never losing hope, you can return to financial viability–and restore your satellite TV.

source:  financialhighway.com

US added surprisingly strong 204,000 jobs in October

WASHINGTON — The U.S. economy added 204,000 jobs in October, an unexpected burst of hiring in a month when the government was partly shut down for 16 days. And far more jobs were added in August and September than previously thought.

The Labor Department said Friday that the unemployment rate rose to 7.3 percent from 7.2 percent in September. But that was likely because furloughed federal workers were temporarily counted as unemployed.

The surprising job growth shows the economy was stronger in October than many economists expected it would be. Activity at service companies and factories also accelerated last month, an earlier report showed. The figures suggest that many companies shrugged off the shutdown, an encouraging sign for the economy.

Still, President Barack Obama, speaking in the Port of New Orleans, said there was “no question” that last month’s partial government shutdown hurt the U.S. jobs market.

Obama did not specifically say how the job market had been hurt during the shutdown. But he said additional economic data still to be released before the end of the year could show the effects.

The job figures are a major factor for the Federal Reserve in deciding when to reduce its economic stimulus.
The Fed has been buying bonds each month to keep long-term interest rates low to encourage borrowing and spending.

The unexpectedly strong jobs report gave stocks a lift on Friday. In the bond market, the yield on the 10-year Treasury note surged to 2.75 percent from 2.60 percent late Thursday. That suggested that some investors worried that the healthier job growth might soon prompt the Fed to pull back on its bond buying.

Economists disagreed about the impact of the data on the Fed. Some said last month’s strong hiring probably isn’t sufficient for the Fed to scale back its $85-billion-a-month bond-buying program when it meets Dec. 17-18.

“The one month of job growth is not enough to allow them to pull the trigger,” says Patrick O’Keefe, director of economic research at CohnReznick. “It leaves them on hold at least for the next meeting.”

Others said the strong job growth might prod the Fed to slow its stimulus soon.

“In our opinion, the data would justify the Fed reducing the pace of its asset purchases in December,” Paul Ashworth, chief U.S. economist at Capital Economics, wrote in a research note.

The government’s report showed that employers added an average of 202,000 jobs from August through October, up sharply from an average of 146,000 from May through July. Private businesses added 212,000 jobs in October, the most since February.

Employers added 45,000 more jobs in August and 15,000 more in September than the government had previously estimated.

“While we have to take today’s report with a grain of salt, we are impressed by the strength of the report,” said Dan Greenhaus, chief global strategist at BTIG, a brokerage firm. “Given the impact of the shutdown, we have to wait until November’s report to get a fuller picture of what’s happening this fall but we’re happy enough in the meantime.”

One troubling detail in the report: The percentage of Americans working or looking for work fell to a fresh 35-year low. But that figure was likely distorted by the shutdown.

About 800,000 government workers were furloughed for all or part of the shutdown, which lasted from Oct. 1 through Oct. 16. Many were counted as unemployed and were considered on temporary layoff.

But the furloughed workers were still counted as employed by the government’s survey that counts jobs because they were ultimately paid for their time off. Federal government jobs fell only 12,000 last month.

Better-paying industries boosted job gains: Manufacturers added 19,000, the most since February. And construction firms gained 11,000 jobs.

Hiring also jumped in lower-paying fields. Retailers added 44,400 employees. Hotels, restaurants and entertainment firms added 53,000 jobs.

Some earlier reports had hinted that hiring was improving. Retail stores, shipping companies, and other services firms stepped up hiring in October, according to a private survey of service firms.

And the number of people seeking unemployment benefits has fallen back to pre-recession levels after four weeks of declines. Unemployment benefit applications are a proxy for layoffs. The steady decline suggests companies are cutting fewer jobs.

Economic growth accelerated in the July-September quarter to an annual rate of 2.8 percent, the government said Thursday. That’s up from 2.5 percent in the April-June quarter.

But greater restocking by businesses drove much of the increase, a trend that may not be sustainable. Consumers and businesses both cut back on spending over the summer.

source: business.inquirer.net

Demand for Cloud IT careers on the rise, says expert

MANILA, Philippines – Cloud computing technology is poised to revolutionize not just how businesses and the government use information technology (IT), but will also potentially shape the country’s workplace landscape.

Cyril Rocke, President and CEO of DataOne Asia, an independent provider of IT services in the Philippines, reveals that cloud computing is holding much promise for any industry and is encouraging a new breed of university or college IT graduates to handle the expected shift towards cloud computing.

“Since 2011, we have seen that the number of companies who have migrated to the Cloud has more than doubled, and this highlights the great potential of the Philippines to become a platform for cloud-based services. In effect, the demand for hires who are knowledgeable about Cloud and virtualization technologies will become even higher.”

Since cloud computing has minimized the need for businesses to acquire in-house IT infrastructure and has urged companies to rely on Cloud service providers, Rocke believes that even IT professionals will need to evolve to enable steady function of Cloud services directed at multiple users.

“Because of the Cloud, IT professionals will no longer be much involved in hardware repairs or troubleshooting of servers as in the past. They will become service-oriented, and less hardware-oriented,” Rocke said.

Rocke notes that since many employers have already learned their lessons in building their IT infrastructure, they expect IT recruits to possess three main technical qualities that will ensure sustainable operations. First, he believes that graduates should be familiar with applications and infrastructure.

“A company’s chief information officer (CIO) would expect his IT staff to know how to roll out applications and infrastructure in the most effective manner. This means that the recruits should know how to procure virtual machine providers from Cloud providers such as DataOne, instead of expecting their company to acquire more hardware.”

He adds that IT recruits should be aware of the benefits of cloud computing, especially when it comes to software deployment and management.

“IT hires should be aware of how cloud computing has made software applications readily available. The IT hire should also be aware of the wide range of software that are available on the Cloud, such as email, payroll, sales force automation, and enterprise resource planning,” Rocke says.

He also emphasizes on the need for IT graduates to be knowledgeable about security issues and the process of encryption, especially with the growing cyber-warfare and cyber-espionage directed at critical industries.

“IT hires also need to be concerned about security. As such, they are expected to devise policies to ensure that corporate data does not ever leak to the wrong parties,” Rock says.

DataOne’s Data Center and Network Operations Senior Manager Aileen Martinez added that, aside from knowledge and other technical skills, an aspiring IT staff must possess the right attitude, which should help them manage their time and work programs.

“Cloud services are very in-demand today because they are easy to deploy and to sync in a company’s processes and existing IT systems. Some of these companies have very challenging lead times to implement their Cloud projects.  This is why the IT personnel should be able to work well under extreme pressure,” she says.

Aside from the ability to handle pressure, Martinez adds that IT recruits should also have good social skills which will allow them to communicate with their co-workers as well as the clients. Having a good team of IT professionals would ensure smooth processes in delivering IT services.

“People skills remain an important attribute because these recruits will most likely work in a team of more experienced engineers. It is important for the recruit to make himself valuable to the team and avoid making any conflict,” Martinez says.

“The IT recruits will also have to talk to the end customers via phone, email, or even face-to-face meetings. They should be able to communicate in a professional manner.”

Lastly, Martinez says that employers value recruits who strive to excel in their profession. Having aspirations will also encourage an IT professional to find ways to improve themselves through the work they do.

“We at DataOne strive for excellence, that’s why we deliver 99.99% service levels. Our IT recruits should also have that attitude, the drive to excel at all costs. The same goes for other IT companies,” she says.

Rocke emphasizes that the growing use of cloud computing among all industries offers an exciting work opportunity for this school year’s batch of IT graduates.

“Cloud computing has further changed the IT landscape, and, now, it is exciting, fast-paced and ever-evolving more than ever. It opens a lot of new job opportunities for our fresh IT graduates,” he says.
Rocke is also optimistic due to a recent report from the Department of Labor and Employment (DOLE), which states that 2 out of the 10 top paying jobs in the country belong in the IT sector. Because of this, he urges aspiring IT professionals to take advantage of this opportunity.

“There are short-term employment bridging courses or skills training, some of them offered either by the government or private institutions, that will give them the necessary knowledge and experience they need before they join the IT the workforce.”

Rocke also mentioned that the recruit’s choice of school does not matter when it comes to following the IT career path. Rather, there are other formal and non-formal options for graduates and working professionals to add to their skills. In fact, the Internet is one source of non-formal learning.

“The choice of school does not ensure anything. I encourage these recruits to take free online courses and even college offerings on IT so they could educate themselves,” he says.

On a final note, Rocke gave the aspiring IT professionals some tips on how they could land “cloud jobs”.

“Keep on learning — always keep yourself updated on new technologies on cloud computing because that’s where technology is heading, and there is no way to stop it.”

source: technology.inquirer.net

Jaguar Land Rover to create 800 British jobs

LONDON – Upmarket carmaker Jaguar Land Rover (JLR), owned by India’s Tata Motors, announced on Sunday that it plans to create 800 new jobs in Britain after reporting record global sales.

More than 200 of the new jobs, at its Solihull plant in the West Midlands, will be backed by the British government’s regional growth fund, the carmaker revealed.

The extra staff is required to meet increased demand after the company announced global sales of 357,773 vehicles in 2012, a leap of 30 percent.

The spike was largely as a result of a strong showing in China, now the company’s biggest market after a 70-percent rise in sales.

JLR has created around 8,000 jobs over the last two years, and now employs 25,000 people globally.

Its Solihull plant is responsible for making the the Range Rover, Range Rover Sport, Land Rover Defender and Discovery models.

source: business.inquirer.net

Obama camp pounces on Romney outsourcing report

TAMPA, Fla — U.S. President Barack Obama warned Friday Americans did not want an “outsourcing pioneer” in the Oval Office, pouncing on a report that Mitt Romney’s former firm helped ship jobs abroad.

The report, by The Washington Post, threatened to undermine multi-millionaire Romney’s claim that his experience as a venture capitalist equips him uniquely to create jobs in America’s sagging economic recovery.

“Let me tell you, we do not need an outsourcing pioneer in the Oval Office,” Obama said at a campaign rally in the key battleground state of Florida.

“We need a president who will fight for American jobs and fight for American manufacturing. That’s what my plan will do, that’s why I am running for a second term as president of the United States.”

Obama’s camp quickly capitalized on the report, with a conference call with reporters, a campaign video and Obama’s personal remarks, hoping to crank up momentum after several difficult weeks for the president.

“We believe this is a significant moment in this campaign. All of America has learned a little more about the business record Governor Romney is running on,” said Obama campaign senior adviser David Axelrod.

Citing documents filed with U.S. regulators, the Post said Bain Capital, the firm Romney founded and headed for 15 years, invested in companies that led in establishing call centers and manufacturing facilities in other countries.

The report said the private equity firm was involved “early on” as the departure of jobs from the United States was accelerating.

But Romney spokeswoman Andrea Saul said the story was “fundamentally flawed” as it did not differentiate between offshoring—sending jobs overseas—and—outsourcing—employing another firm to do work previously done in house.

“Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go,” Saul said.

“As president, he will implement policies that make it easier and more attractive for companies to create jobs here at home.

“President Obama’s attacks on profit and job creators make it less attractive to create jobs in the U.S.”

Romney has repeatedly accused China of unfairly snapping up U.S. jobs with its economic policies and charged Obama with being soft on Beijing over its alleged currency manipulation.

But Axelrod accused the Republican candidate of recently “repackaging” himself as a “newly minted anti-China warrior” for political gain.

Bain spokesman Alex Stanton was quoted by the Post as defending the company’s practices, saying: “Bain Capital’s business model has always been to build great companies and improve their operations.”

“We have helped the 350 companies in which we have invested, which include over 100 start-up businesses, produce $80 billion of revenue growth in the United States while growing their revenues well over twice as fast as both the S&P and the U.S. economy over the last 28 years.”

The Post story featured two companies: Corporate Software Inc (CSI) and Stream.

The story said CSI once employed U.S. workers to provide services, but by the mid-1990s was setting up call centers outside the country.

CSI merged with another firm to form a company called Stream International Inc and Bain was active in running the firm as a minority shareholder, the Post said, citing Securities and Exchange Commission filings.

Stream, by 1997, operated three tech-support call centers in Europe and was part of a call center joint venture in Japan.

But Romney aides said the call centers abroad were not intended to serve the U.S. market and served foreign markets they were in for language reasons.

They said that Romney left Bain a year before Stream opened an Indian call center.

Another firm cited in the report was Modus Media, which contracted with Microsoft to build software in Australia.

By 1999, Modus was active in outsource packaging and hardware work for IBM, Sun Microsystems, Hewlett-Packard and Dell in Singapore, Taiwan, China and South Korea, as well as European facilities in Ireland and France.

Modus said in 1997 its expansion of outsourcing services took place in close consultation with Bain, the Post reported.

The Romney camp also maintained that the customer support provided to U.S. technology firms by the call centers overseas allowed them to sell products in those markets and create U.S. jobs.

article source: japantoday.com

US confirms economy grew 3% in Q4

WASHINGTON — The US economy grew at an annual rate of 3 percent in the fourth quarter of 2011, the Commerce Department said in its final estimate Thursday.

The department’s third estimate for gross domestic product growth in the period was unrevised from its prior estimate and capped a year of steadily accelerating growth. GDP grew 1.8 percent in the third quarter.

The Commerce Department said the fourth-quarter pick-up was in part thanks to an uptick in private inventory investment and stronger consumer spending that were partially offset by a decline in federal government spending and slowing exports.

The world’s biggest economy also saw an increase in imports, a factor that subtracts from GDP growth calculations.

For all of 2011, the economy grew 1.7 percent, compared with 3 percent in 2010.

Recent data indicates GDP growth slackened in the first quarter.

Scott Hoyt at Moody’s Analytics said the seeds of the slowdown were sown in the fourth quarter as businesses rapidly built up inventories, a pace that would not be maintained.

Other factors that will drag on growth, he said, are reduced government spending and trade “as the recession in Europe undermines exports.”

Nonetheless, Hoyt said, the economy “appears increasingly solid.”

“Looking beyond temporary factors such as the warm winter, GDP appears to be expanding at an annual rate near 2.5 percent,” he said.

“While hardly a boom pace, this is strong enough to expand employment and reduce joblessness in coming months.”

source: http://business.inquirer.net/51761/us-confirms-economy-grew-3-in-q4