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Russia Says Recession Over as Manufacturing Unexpectedly Jumps
Russia’s Economy Ministry said that the country exited a recession last quarter, with an unexpected four-year high in the manufacturing industry reported in October. The increase ends an eight-quarter period of decline. “The economy has turned the corner,” Ravi Bhatia, director for sovereign ratings at S&P Global Ratings, said at a conference in Moscow on November 1. “We expect the return to positive real GDP growth in 2017-2019. And this, hopefully, will be the last year of economic contraction.” The jump in manufacturing exceeded all forecasts in a Bloomberg survey of six economists. See more about Russia's manufacturing recession ending.
What UK Wants from India; More Trade but Less People
British Prime Minister Theresa May visits New Delhi this week for her first bilateral visit outside the European Union (EU). May will hold talks with Prime Minister Narendra Modi and review all aspects of the India-UK Strategic Partnership; a meeting widely seen as an opportunity for the two sides to strengthen business-to-business engagement in the areas of technology, finance, entrepreneurship, innovation, design, IPRs, higher education, and defense and security. May said about the meeting, "We have the chance to forge a new global role for the UK -- to look beyond our continent and towards the economic and diplomatic opportunities in the wider world." The visit is expected to unveil Britain's post-Brexit global role and where India figures in that role. Click through for more about the UK-India connection.
German Firms Hone Tools to Defuse Demographic Time Bomb
With employment and job vacancies at record highs, German companies are addressing the talent shortage with such solutions as above-inflation wage rises, pension contributions, subsidized meals, education, training (including helping older workers learn skills for a new environment), onsite child care, and bonuses to employees who refer a candidate who is hired. Despite a recent rise in the birth rate and the arrival of nearly 900,000 migrants last year, experts estimate the working age population, whose pension contributions support the growing number of retirees, will shrink by up to six million by 2030. Discover more about Germany's demographic challenges.
Shanghai Offers Foreign Workers Easier Access to Work Permits
Last week, Shanghai issued its first work permit in the city’s pilot program to simplify applications for work permits for foreigners. The first recipient of the new work permit in Shanghai was Joaquim Nassar, the French dean of SJTU-ParisTech Elite Institute of Technology at Shanghai Jiaotong University, who pronounced the application process “very smooth, free of surprises.” The program unifies the previous two permits, one for "foreign employees" and another for "foreign experts," into one single "foreigners' work permit." Read more about Shanghai’s foreigners’ work permit.
Shedding Light on Slowing Growth: What Ails Singapore’s Economy?
Lackluster global growth, a protracted oil price slump, shifting trade flows, and what Prime Minister Lee Hsien Loong referred to as the “defining challenge” facing Singapore’s economy - disruptive change – all contribute to the country’s struggles. Cracks emerging in the labor market are evident: in the third quarter, total employment fell for the second time since the 2009 global financial crisis. Technology has transformed almost every industry; bringing workforce challenges and opportunities. With thousands of open jobs in growing sectors like IT, precision engineering, education and healthcare, there’s a severe shortage of workers with the specialized skills required for those roles. Click through to the full article for more information.
Business Travelers: 5 Reasons Why Serviced Apartments Provide the Optimal Housing Solution
With global assignments and the need for extended stays on the rise, more business travelers are choosing serviced apartments as an alternative to hotels. This accommodation option offers several benefits to both travelers and their organizations. LEARN MORE
Talent is Global Today and Canada Needs to Adapt
Canada is facing a shortage of about two million skilled workers in the next ten years, in a workforce of about 18 million people today. Canada’s skills shortages – largely in the fields of science, technology, engineering and mathematics – are in short supply around the world. Canada also trails other countries in their numbers of graduating students in these disciplines. In British Columbia alone, a million-plus job openings are expected by 2019, and more than three-quarters of those will require postsecondary education. Stephen Cryne, president and CEO of the Canadian Employee Relocation Council, says “Canada is in a great position to improve its immigration programs and attract some of the much-needed top global talent to our shores.” See more information about Canada’s opportunities in the global arena.
Look out DevOps Specialists, the Brazilians are Coming
Though the focus on South America was centered around the Olympics for a time, recruiters say the region has even more to offer: it’s now a strong source of DevOps talent for Australia’s deepening IT needs. Some hiring experts estimate a 20 percent jump in Latin-born IT professionals opting to work in Australia over the past six to 12 months. As more Australian companies look to automate their application and infrastructure deployments, their integration of systems and application releases, and the use of more cloud-based technologies and hybrid models for larger enterprises, their need for talent to develop and maintain the technology will grow. Learn more about Brazilian IT talent aligning with Australia's needs.
Mapped: The Best (and Worst) Countries for Gender Equality
New research from the World Economic Forum (WEF) ranked 145 countries on gender equality as part of its annual Global Gender Gap Report. Scandinavian nations appear to be the most enlightened and proactive when it comes to gender equality; Iceland, Norway and Finland top the list, followed by Sweden, Ireland, Rwanda, the Philippines, Switzerland, Slovenia and New Zealand. Yemen, Pakistan and Syria earned top spots on the “least equal” list. To see the WEF’s fully mapped gender equality information, click here.
10 Workplace Trends You'll See In 2017
As the job market tightens, job seekers and employees will gain more leverage between 2016 and 2017 – that means salaries will likely increase, and employers will be investing more readily in recruiting practices and employee benefits. Improved candidate and employee experiences; an increasingly blended workforce (with more gig workers and the first-ever workplace representation of both GenZ and millennials); and augmented and virtual reality revolutionizing recruiting and training are just a few of the workplace trends employers may see next year. Find out more about 2017 workplace trends.