Staffing & Employment News: Surprise

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News

Surprise!

The September jobs report showed a surprise decline in the unemployment rate, to 7.8 percent. September payroll jobs increased a modest 114,000, and revisions of the last two months pushed August to 142,000 (from the 96,000 previously estimated) and July to 181,000 (from 141,000) for a net increase of 86,000.

Sectors showing the most jobs gains include: health care (up 44,000), transportation & warehousing (up 17,000), and financial activities (up 13,000). Public sector jobs grew by 10,000 in September, and surprisingly by 45,000 in August.

Staffing jobs rose 5.4% higher in Q2 2012 than in Q2 of previous year. The ASA staffing index also shows a rise in in temporary and contract employment of 26.6% since the beginning of 2012.

Consumer confidence rose significantly in September, in surveys from both the University of Michigan and the Conference Board. This represents the strongest rise in confidence since December. Analysts speculate that confidence may be inspired by the simultaneous gains in housing and stock prices, which haven’t shown such returns simultaneously since 2006.

What does October hold in store for us?

Staffing & Employment News from Redfish Technology

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News from Redfish Technology

Double last month’s numbers

Payrolls rose 163,000 (private payrolls 172,000), over double last month’s increase. Government jobs fell by 9,000, construction fell by 1,000. The good-producing sector added 24,000 jobs, the service-providing sectors 148,000, and manufacturing 25,000. Temp jobs rose by 14,000.

 

The numbers came in a bit better than expected overall as companies hire at a modest pave. Nonetheless the unemployment rate went up incrementally from 8.2 to 8.3%,

 

While the Fed was discussing more quantitative easing, the Dow Jones reacted favorably to the jobs report.

 

The staffing industry lost 43,600 jobs (down 1.7%) from June to July according to the BLS, year over year however the industry has grown headcount by 10.9%. Recruiting trends are cyclical and July tends to be a slower month for hiring.

 

Additional reading …

 

Pace of Hiring Rose in July, but Jobless Rate Ticked Up 

U.S. Stocks Halt 4-Day Slump After Employment Report

 

Staffing & Employment News: The Muddle Through

Filed under: Recruiting, Staffing & Employment News

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.

Big Disappointment in the Jobs Numbers this Month.

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News

Big Disappointment in the Jobs Numbers this Month.

At half of what was expected, the U.S. added only 69,000 jobs in May.

 

The pace of hiring slowed sharply, and the weakness was across the board. Some economists attribute this to employers taking the sideline in the midst of economic uncertainties in Europe and fears of a global slowdown.

 

March and April were both downwardly revised by about 50,000 jobs. Unemployment rate rose for the first time in almost a year, to 8.2 percent from 8.1 percent.

 

This month marks the third year since the Great Recession officially ended. And yet, we have a net of 5 million jobs less than we did in December 2007.

 

That said there are sectors that remain strong and optimistic. Read more »

Staffing & Employment News: April showers?

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News

April Showers Turn Out to be a Drizzle. 

 

April didn’t shower us with an abundance of jobs; with an increase of only 115,000 net, and 130,000 in private payrolls. This slow-down disappointed after March’s 154,000 new jobs and February’s 259,000. The biggest gains were in professional & business services at 62,000, retail trade increased by 29,000, health care rose by 19,000, and leisure & hospitality added 12,000. Goods-producing jobs increased by 14,000 after a 38,000 rise in March. Read more »

Staffing & Employment News, How strong is the recovery? from Redfish Technology

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News

from Redfish Technology

How strong is the recovery?

 

+ Online jobs advertised grew in February, January and December, according to the Conference Board Help Wanted OnLine® (HWOL). The Supply/Demand rate stands at 2.9 unemployed for every vacancy. “In a positive sign the Supply/Demand rate dipped below the 3.0 level for the first time since November 2008,” said June Shelp, Vice President at The Conference Board. “This reflects both significant gains in labor demand as well as drops in unemployment levels since the end of the recession. Labor demand is up 227,000 over the past three months, continuing to narrow the gap between the unemployed and available jobs. With the monthly level of job demand around 4.4 million, labor demand is back in line with the pre-recession series high in 2007.”

+ The U.S. Economy added 227,000 jobs in February. This is the third consecutive month of gains over 200,000. December and January numbers were also revised upwards. Read more »

Staffing & Employment News

Filed under: Recruiting, 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. Read more »

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

Filed under: Recruiting, Staffing & Employment News

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. Read more »

Staffing & Employment News

Filed under: Recruiting, Staffing & Employment News

Staffing & Employment News – Optimism and Hiring over next six months

Recruiters are often called a bellwether of the economy, and as such we’d like to share good news with you. Redfish Technology more than doubled our production in 2010 and we look forward to a strong year ahead.

According to ExecuNet, two-thirds of executive recruiters anticipate more management talent over the next six months in spite of the continued measures to contain corporate headcount. ExecuNet wrote in a press release that in December that their “benchmark Recruiter Confidence Index revealed that 66 percent of 144 responding executive recruiters are “confident” or “very confident” the executive employment market will improve over the next six months, up five points from November and the highest confidence registered since the second quarter of 2008.” Read more »