November 7, 2011

Staffing & Employment News: The economy grew last quarter at the fastest pace in a year, but job growth remains fairly anemic.

Staffing & Employment News

The economy grew last quarter at the fastest pace in a year (yeah!), but job growth remains fairly anemic.

The economy grew last quarter at the fastest pace in a year (2.5%), however that growth was still insufficient to push down the unemployment rate. GDP is estimated to grow at just over 2% in 2012, and 2.7% in 2013, a gradual improvement.

ADP estimated Thursday that October private payrolls rose 110,000. Friday the Labor Department reported that payrolls expanded by 80,000 jobs in October, and the September figure was revised upward to 158,000 (from 103,000) and August was revised upwards to 104,000 (from 57,000).

While October saw less job creation than forecast, the unemployment rate did dip to 9% (from 9.1% last month).

Insperity Inc.’s latest business confidence study found that 26% of small to midsize businesses plan to add staff and 66% plan to maintain current staffing levels. Nearly half of small-business owners think that the economy will not improve until the second half of 2012, with 44% anticipating an economic rebound in the second half of 2012 or later. The CMO Survey finds that CMOs are planning on increasing marketing spending over the next year, by 7.2% on marketing hires.

IT and Clean Tech recruiters, such as Redfish Technology, report a very strong quarter. Solar and Software as a Service being two leading sectors of employment at this time. Online job posting activity is up by 11% year-over-year according to the Monster Employment Index.

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October 10, 2011

Staffing & Employment News

Staffing & Employment News 

Job growth improved more than expected in September. Payroll jobs advanced 103,000 in September despite government sector contraction – private non-farm payrolls gained a total of 137,000 in September, following a 42,000 increase in August and 173,000 in July. Friday’s employment report shows that the labor market is not quite as sluggish as earlier believed. (more…)

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May 9, 2011

Most Robust Growth in 5 Years, Yet Mixed Messages about the Employment Outlook

Staffing & Employment News

Most Robust Growth in 5 Years, Yet Mixed Messages about the Employment Outlook

Friday’s employment situation report released by the Bureau of Labor Statistics was stronger than anticipated with non-farm private payroll showing increased employment of 268,000 last month, surpassing March’s strong showing of 231,000. This growth is the most robust in five years, and marks the seventh straight month of employment increases. Nonetheless, jobless rate climbed and government jobs fell by 24,000.

The 43,000 surge in jobless claims is explained by various factors but nonetheless was higher than last month. The unemployment rate went from 8.8% to 9.0% month over month. The longer trend remains positive: The economy has added 2.1 million private sector jobs over 14 consecutive months, including more than 800,000 jobs since the beginning of the year. The unemployment rate rose to 9.0 percent, but remains 0.8 percentage point below its November level”, according to Austan Goolsbee, Chairman of the Council of Economic Advisors. (more…)

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November 8, 2010

Staffing & Employment News, Redfish November Newsletter

Staffing & Employment News

from the Redfish Technology November Newsletter

The BLS statistics were encouraging. Nonfarm payrolls were increased by 195,000 jobs in October. The private sector created 151,000 of these jobs, marking the 10th consecutive month of job growth. Almost 1/3 of these increases were in “professional and business services” specifically in professional and technical, computer systems design, management and technical consulting, administrative and waste services, and employment services. Employment in temporary help services also continued to increase in October. This month’s gain was 35,000; increasing 451,000 since September 2009 lows.

The problem with this growth is that we are behind by 11 million jobs as compared to the pre-recession unemployment rate of 5% in December 2007. To obtain this unemployment rate within the next 5 years, we need to see a net of approximately 300,000 jobs added every month. (more…)

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