April 9, 2012

Staffing & Employment News: Disappointing Jobs Report, But Confidence and Strong Numbers Elsewhere

Staffing & Employment News

Disappointing Jobs Report, But Confidence and Strong Numbers Elsewhere

Friday’s jobs report disappointed with only half (120,000) the jobs created in March compared to the month previous. ADP had announced just prior that the U.S. private-sector employment rose by 209,000 in March. For the three months through February, an average of 245,000 payrolls was added monthly, marking the strongest gains since 2006.

 

Goods-producing industry employment rose 31,000 after a 29,000 gain in February. For the latest month, manufacturing increased 37,000; construction dipped 7,000; and mining inched up 1,000. Inventory building was a key driver of growth in the October-December quarter.

 

The unemployment rate nudged downward to 8.2 percent from 8.3 percent – a fall of nearly a full percentage point since the summer. The U.S. economy grew 3 percent in the final quarter of 2011, the best pace in a year and a half.

 

Prior to March’s employment report, employee confidence reached its highest level since October 2007 according to the latest Randstad Employment Report, hitting 55.5 in March. This is the third month of consecutive increase. Joanie Ruge, senior vice president and chief employment analyst for Randstad U.S. said “It seems as though optimism in the employment picture is outweighing any mixed signals being given by other economic reports. In fact, the Index confirms, from a frontline perspective, an optimistic and hopeful outlook around the number job openings, job stability and the future strength of companies. Although the latest Index still remains five points below the historical high, it also stands 15.4 points higher than our Index’s all-time low of 40.1 in January 2007.”

 

And American CEOs are also seeing increased momentum for U.S. Economy according to the Business Roundtable’s First Quarter 2012 CEO Economic Outlook Survey. CEOs expressed improving expectations for sales, capital spending and employment, with a notable increase to 96.9 in Q1 of 2012, up from 77.9 in Q4 of 2011. In terms of the overall U.S. economy, Business Roundtable members estimate real GDP will grow by 2.3 percent in 2012, up from last quarter’s estimate of 2.0.

 

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March 31, 2011

Good News on the Hiring Front

Staffing & Employment News

Good News on the Hiring Front

2011 continues to get busier. Following a great 2010 in which Redfish Technology Inc. more than doubled our revenue, we are enjoying a very strong first quarter. This rebound is being felt within the recruiting industry and American businesses in many industries.

The Association of Executive Search Consultants proclaimed 2010 to be the “Year of Resurgence” for Executive Search Industry. Their end of year report released in March indicates that Senior Executive Recruiting is at the third highest level ever as the demand for senior talent rebounds. While 2009 saw a contraction of 32.5%, in 2010 the industry is reported to have grown by 28.5%. According to AESC this only 13% below the industry climax of 2008.

Peter Felix, President of the AESC, stated that “Leadership today is at a premium since organizations cannot ignore the challenges of new competition, evolving technology, industry convergence and globalization. Finding and attracting the superior executive talent able to manage change of this magnitude is an investment process of the highest order and requires optimum professional help.”

The Business Roundtable’s first quarter 2011 CEO Economic Outlook Survey was released yesterday with an equally exciting prognosis. CEOs of America’s leading companies are reported to anticipate higher sales and plan to increase capital expenditures and employment over the next six months. These top executives collectively estimate real GDP growth at nearly 3% in 2011.

“With today’s survey results, the last three quarters have shown steady improvement in the CEO economic outlook. Our CEOs see momentum in the economy over the next six months, with increased demand fueling greater investment and job creation,” said Ivan G. Seidenberg, Chairman of Business Roundtable and Chairman and CEO of Verizon Communications. “This shift continues a trend as reflected in recent employment data, with the private sector leading the way in creating more jobs.”

ADP’s preliminary private payroll count for March indicates 201,000 jobs were added; actual February payrolls rose 222,000. Look for the Employment Report this Friday.

The Redfish Monthly Industry newsletter will be out next week. Subscribe today and get news and articles on staffing & employment, industry trends, HR best practices, career advice, guest & recruiter perspectives.

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