The fewest workers on record were fired in January and job openings rebounded, showing employers are gaining confidence the U.S. expansion will be sustained even as lawmakers battle to trim the federal budget deficit.
There were 1.51 million people let go in the month, down from 1.57 million in December and the least in data going back 12 years, the Labor Department said today in Washington. The number of positions waiting to be filled climbed by 81,000 to 3.69 million after slumping by 177,000 in December.
An investigation into American investment bank JPMorgan Chase & Co.’s hiring-related nepotism in China has now expanded to other Asian countries after an “internal spreadsheet that linked appointments to specific deals pursued by the bank” was found, Bloomberg News reported. What started with the scrutiny of two specific Chinese candidates has now spread across the region, where the bank has operated for over a century. The bank is also conducting an internal investigation, reviewing the employment of 200 interns and full-time workers.
This weekend reports surfaced that the SEC is investigating JPMorgan for hiring Chinese 'princelings' (the privileged children of ruling Communist Party leaders) in order to land business in the country.
Our employment and skills study also revealed 63 per cent of employers rate a positive attitude to work as the key requirement, with around half noting the importance of basic skills. This is why we celebrated the Chancellor’s Spending Review in June which saw more money being made available to fund another 20 Studio schools across the country.
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