Posts Tagged Economy
Unemployment is still hovering near 8 percent, so it’s safe to say there has been heightened competition for the hundreds of thousands of holiday season jobs that opened up this year.
December hiring activity will be stronger in the service sector than in the manufacturing sector compared with December 2011, according to the Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey, released Dec. 6, 2012.
The LINE Employment Report examines employers’ hiring expectations and job vacancies, difficulty in recruiting top-level talent and new-hire compensation. Results are based on a monthly survey of private-sector human resource professionals at more than 500 manufacturing and 500 service-sector companies.
Just after the nation endured one “superstorm,” it now faces another: the fiscal cliff.
Election 2012 is over. It could be weeks until you hear anyone “approve this message” again. That’s the good news.
The ominous news is that the fiscal cliff is dead ahead. Both the short- and long-term fates of the economy may be altered by what Congress does in the coming months.
“Fiscal cliff” was first coined by Federal Reserve Chairman Ben Bernanke. It refers to the combination of automatic tax increases and spending reductions that will occur on or around Jan. 2, 2013, if Congress does nothing.
Many American workers can expect gains in compensation in 2013, although wage growth continues to make slow strides in the post-recession economy.
U.S. employees should see median base salary increases of 3 percent in 2013, according to global consultant Hay Group. When an anticipated consumer price growth of 2.2 percent is factored in, workers will see a net gain of 0.8 percent in pay in 2013—an improvement from a net loss of 0.6 percent in 2012.
Politicians, pundits and job market experts alike frequently cite “uncertainty” as a root cause for weak hiring.
Yes, employers are uncertain about the U.S. economy. They’re also skittish about future tax policy, government spending, oil prices, the Middle East, China’s reduced rate of growth and just about any other aspect of domestic and global affairs that can affect their business. The upcoming presidential election just adds to the anxiety.
In case you missed it, here’s what happened on We Know Next this week.
For the third consecutive month, more HR professionals in the manufacturing and service sectors report that their organizations will be hiring in October 2012 compared with October 2011, according to the Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey, released Oct. 4, 2012. Likewise, seasonal job gains are likely to be slightly higher than a year ago but still below pre-recession levels, according to the annual holiday hiring forecast released Sept. 24 by Challenger, Gray & Christmas Inc.
Because a scheduled federal budget “sequestration” is approaching in January 2013, the Office of Management and Budget (OMB) and the U.S. Department of Defense (DOD) issued separate guidance notices on Sept. 28, 2012, to address questions about whether Worker Adjustment and Retraining Notification (WARN) Act notices needed to be issued just before the presidential election.
With little fanfare, the one-year-old Consumer Financial Protection Bureau has become the chief enforcer of the Fair Credit Reporting Act (FCRA) and has issued revised FCRA forms employers and consumer reporting agencies must start using no later than Jan. 1, 2013.
Interview by Joseph Coombs, SHRM Workplace Trends and Forecasting Specialist
Just under three-quarters (73%) of manufacturing organizations reported mild to significant improvement in overall financial health in 2012 compared with 59% in 2011. About the same percentage in 2012 (75%) were currently hiring; however, two-thirds (67%) of these organizations were having difficulty recruiting for specific jobs. One of the strategies for dealing with this challenge is hiring U.S. veterans, which has increased from 44% in 2011 to 59% in 2012.
A large majority (89%) of organizations in the health industry were hiring full-time staff, and of those 50% reported having difficulty recruiting for specific open jobs. The five most difficult positions to fill for the health industry are high-skilled medical (90%), high-skilled technical (e.g., technicians and programmers) (69%), managers and executives (69%), accounting and finance professionals (60%), and HR professionals (46%).
I admit it, I am a total mark for Business Insider.
A superb mix of business, tech, culture, politics, economics, sports, celebrity gossip - all delivered with bludgeon-like ridiculous volume probably running upwards of 100 posts each day.
“Good, but not great” is how most federal government employment reports are tagged each month when they’re released. But when it comes to workers’ earning power of late, “good” isn’t all that great.
In September 2012, for the second consecutive month, the hiring rate will rise in the manufacturing and service sectors compared with a year earlier, according to results from the latest Society for Human Resource Management’s (SHRM) Leading Indicators of National Employment (LINE) survey.
Departures among chief executive officers fell to the lowest level of the year in July 2012, as 83 leadership changes were announced during that month. This marks the slowest month for CEO turnover since December 2011, according to the latest report on CEO turnover released Aug. 8, 2012, by global outplacement consultancy Challenger, Gray & Christmas, Inc.
U.S. employers take note: a majority of workers are dissatisfied with their jobs but have no plans to quit, two recent studies suggested.
Just 47 percent of Americans are satisfied with their jobs, according to a report released June 27, 2012, by The Conference Board, a global, independent business membership and research association.
America’s got talent. So why is it so hard to find?
Maybe it wouldn’t be great theater, but why not develop another reality-based television show based on marriage—one that would tie the knot between those elusive skilled workers and job openings at thriving U.S. employers.