December 9, 2013

Recruiting, Staffing & Employment News – December 2013

Recruiting, Staffing & Employment News – December 2013

November’s Business Floating in the Cloud!staffing, recruiting, employment news image

 

Redfish Technology, Nationwide High Tech Recruiters, placed sales professionals and software developers in cloud related sectors in the month of November. With Virtual Testing, Data Sync, Hosting, and SaaS Migration showing the most hiring activity.

 

According to TechServe Alliance, the national trade association of the IT & Engineering Staffing and Solutions industry, IT employment grew for the 26th consecutive month. In fact, on a year-over-year basis, IT employment grew by 5.53% since October 2012 adding 236,200 IT workers.  Engineering jobs also grew again in October, adding 36,600 engineering workers on a year-over-year basis since October 2012 (+1.50%).

 

The latest Federal Reserve Bank of Philadelphia forecast shows little change for the U.S. economy outlook. Real GDP is expected to grow at an annual rate of 1.8 percent this quarter, down from the previous estimate of 2.2 percent. Looking ahead to next three quarters, the Federal Reserve anticipates 2.1% average GDP growth.

 

The Jobs Report showed that private payrolls increased by 196,000 (beating expectations of 173,000). This follows gains of 214,000 in October. The unemployment rate dropped to 7.0 percent from 7.3 percent in October (also better than expected). Growing sectors included the goods-producing jobs (+44,000), professional and business services (+35,000), retail trade (+22,000), manufacturing (+27,000), and construction (+17,000).

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July 9, 2012

Staffing & Employment News: The Muddle Through

Staffing & Employment News

The Muddle Through

Jobless claims hit the lowest levels in six weeks at the end of June, and ADP projected private payroll growth at 176,000 for the month. The staffing industry led employment growth by adding more than 25,000 jobs, an increase of 10.7% more jobs than a year ago. The Monster Employment Index jumped 6 points to 153 in June reflecting a strong uptick in online recruiting. Nonetheless the BLS reported only a modest 80,000 net gain in jobs, leaving the unemployment rate unchanged at 8.2 percent.

The BLS report shows positive signs: gains in manufacturing employment and production hours, and a rise in aggregate earnings. Hiring demand is strong in transportation & warehousing, pointing to strength in the supply chain and retail trade. There is some strength in the goods-producing sector, which added 13,000 in June. Professional and business services added 47,000 jobs during the month. The health care, wholesale trade, manufacturing, construction, and mining sectors all increased by various amounts.

“Businesses continue to be very cautious about hiring in the current uncertain economic environment,” says Richard Wahlquist, president and chief executive officer of the American Staffing Association. Employers remain hesitant “due to uncertainty about the current strength of the economy and future economic conditions, including impending tax increases and spending cuts expected to take effect in January 2013. In times like these, businesses are being much more strategic in sourcing additional talent.”

In May, the Conference Board Leading Economic Index for the U.S. edged up 0.3% to 95.8. “Economic data in general reflect a U.S. economy that is growing modestly, neither losing nor gaining momentum,” says Ken Goldstein, economist at the Conference Board. “The result is more of a muddle through.” However, the Conference Board Measure of CEO Confidence, which had improved in the first quarter of this year, decreased in the second quarter.

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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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