February 6, 2012

Staffing & Employment News: Recovery Gaining Speed

Staffing & Employment News

Recovery Gaining Speed

 

The economy produced more jobs than expected in January, with an overall net increase of 243,000 and a private sector addition of 257,000. The last two months of 2011 had a net upward revision of 60,000. Private-sector gains were led by professional and business services (+70,000), leisure and hospitality (+44,000), and manufacturing.

Unemployment dipped as well, falling to the lowest rate in three years. The household survey indicated a drop to 8.3 percent from 8.5 percent in December.

The U.S. Economy grew by 2.8 percent in Q4 2011 according to the Commerce Department. This was 1% higher than A3. The Federal Reserve’s Business Outlook Survey showed regional manufacturing activity continued to expand moderately in January, and firms continued to report hiring increases. The survey’s broad indicators stayed in positive territory again this month.

Recruiters in specialized sectors are staying busy. Greg Schreiner, Clean Tech Recruitment Manager at Redfish Technology, reports that 2011 finished off with a bang and January 2012 hasn’t showed any signs of slowing. “The hiring managers I work with a expressing continued optimism overall” stated Schreiner, “it is an exciting time in CleanTech recruiting, especially in Solar, ESCO, and renewable technologies.”

A recent survey by Talent Technology reveals that 63.4% of respondents see signs of economic pressure letting up within their organization in 2012, and 51.4% expect to increase in size within the next 12 months (by about 12%).

The Vistage CEO Survey reported the largest quarterly gain in confidence since 2009 as of Q4, and the employment picture in 2012 is looking rosy. Starting off the year with strong signs of improvement in the economy, hiring too is on the rise. The Q4 2011 CEO Confidence Index reported 94 percent of CEOs expecting their firm’s total number of employees to increase or remain the same in the next year.

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