Staffing & Employment News

from the Redfish Technology October Newsletter

C-Level Confidence:

There is growth in hiring in the private sector. The third quarter Vistage CEO Confidence Index survey showed the level of confidence up for the 7th consecutive quarter. Reportedly 46% of CEOs plan to expand their workforce in the 3rd quarter survey, up from 39% a year ago. According to the latest survey by CareerBuilders and USAToday, 21% of employers plan to hire in the fourth quarter. Last quarter 25% of employers reported adding to headcount, and the previous two quarters of 2010 also saw improvements both in sequential and year over year hiring. While a lot of the hiring is for impermanent positions, many employers plan to transition workers to permanent positions. According to the survey, the positions most likely to be hired for contract or temporary staff in the last quarter of 2010 are: IT (27%), Administrative (25%), Engineering (12%), Finance and Accounting (12%), Sales and Marketing (10%), and Creative & Design roles (9%). The American Staffing Association’s staffing index rose to the highest level in two years. Hitting a reading of 100 in the week of Sept. 20th, this is the first time since May 2008 that the index has reached 100.

Indices recap:

Second quarter GDP was up incrementally, revised to an annualized 1.7 percent. Year-on-year, real GDP in the second quarter is up 3.0 percent. 3.2 million jobs were available at the end of August according to the Bureau of Labor Statistics, unchanged over last month at 2.4 percent. The hire and separation rates were at 3.2 percent each. Layoffs of Government Census workers (159,000) and state and local government employees were higher than the private sector’s increase in hiring (64,000), with total payroll employment in September declining by 95,000. Temporary hiring increased again this month, by 17,000 – considered a leading indicator for permanent job hires. According to the household survey, the unemployment rate remained steady at 9.6 percent, lower than forecast 9.7 percent.

First time jobless claims went down this week, and the four-week average shows the sixth consecutive decrease; continuing benefits also fell for the fourth consecutive week – indicating that job market is improving. Monster’s U.S. employment September index went up 19 points from August to hit 138. “Although we have seen the growth rate slow a bit over the last two months, it is encouraging that the index continues to show positive year-on-year growth during 2010,” said Jesse Harriott, senior VP and chief knowledge officer at Monster Worldwide. “This is a clear sign that employers are recruiting in greater numbers than they were a year ago and bodes well for steady, but continued improvement in the U.S. labor market.”

Further reading:

One-in-Five Employers to Hire Full-time, Permanent Staff in the Fourth Quarter, CareerBuilder and USA TODAY Survey Finds

No Evidence of Impending Double Dip Recession According to Vistage CEO Confidence Index

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