Positive Job Creation Indicators Revealed in the 20th Anniversary Executive Job Market Intelligence Report
Companies are planning on growth, both via new management hires and trading up new hires for existing executive roles to fill gaps or improve teams. Recruiters weighed in on executive job creation reporting they expect 51 percent of employers will be adding headcount through “trading up” with new hires for existing executive jobs and 27 percent will create new executive roles over the next six months. Only 2 percent of companies surveyed intend on continuing the management cutbacks that have been in effect during the economic downturn. (more…)
Staffing & Employment News
Friday’s BLS economic report clearly shows that momentum in the labor market has stalled: nonfarm private payrolls increased by a meager 17,000, but as government payrolls declined by 17,000 the net job creation for August was nil. This is the lowest increase in private payrolls since February 2010, and the 4th consecutive month of weak growth. In the last consecutive 18 months, the economy did add 2.4 million private sector jobs.
What is the problem?
The pundits cite: The Verizon Communications strike that caused decline of approximately 45,000 in nonfarm payrolls last month. The recent federal debt ceiling debate fiasco, the S&P downgrade, and the stock market debacle of August. The Conference Board Consumer Confidence Index published for the month also showed a sharp decline. The lack of demand is by far the largest problem, leading to this slow pace of hiring, especially in small firms in “core” services. And yet, thankfully, for the moment layoffs have not picked up.
Staffing Professionals Predict
Staffing organizations and recruiters seem to have a more optimistic projection. (more…)