Welcome to The Fordyce Letter:

The Fordyce Letter

Straight Talk for the Recruiting Profession

Industry News

Industry News

3 LinkedIn Developments You Should Know About


LinkedIn_logoNote: Between updates LinkedIn regularly makes to its product lines, and the latest acquisitions, something is always new at the business networking site. From our sister site, Sourcecon.com, here’s an update on the latest developments.

LinkedIn acquired news alert startup Newsle. Newsle uses machine learning technology to update subscribers when their connections publish new content on the web. I’m hoping this will make my news feed more bearable and relevant as the technology is integrated into LinkedIn’s platform. For more details, see this post from Forbes.

Industry News

Temp, Fulltime Hiring Outlook Strong For Rest of Year

Average number of vacancy days dice

CB Mid-year hiring plans 2014Employers are expressing more optimism about the future and it’s showing in their hiring plans for the rest of this year.

CareerBuilder’s Midyear Job Forecast says more employers expect to add headcount in the next several months than said that last year. Employers told CareerBuilder they will add to the ranks of full and part-time workers, and 33% will increase their temp or contract staffing workers.

In addition, the temp staffing forecast from G. Palmer and Associates predicts a 7.6% increase in hiring in this current quarter.

Industry News

Economists Optimistic Following Strong June Jobs Report From ADP

ADP job growth chart june 2014

ADP job growth chart june 2014With a private sector jobs report from ADP estimating that employers added 281,000 jobs in June — the most in almost two years — the expectation is that tomorrow’s official government report will also be a strong one.

Labor economists were taken by surprise by the strength of the ADP report. In advance of this morning’s release , surveys by Bloomberg News, Dow Jones and others put the average guesses of various analysts between 205,000 and 213,000.

Mark Zandi, chief economist for Moody’s Analytics, which compiles the numbers from ADP payroll processing records, was optimistic about the direction of the economy.

Industry News

Monster Launches New Advertising, Sourcing Services

New Monster logo

New Monster logoMonster’s new approach to recruiting goes commercial today with the launch of two new services and a self-service CRM incorporating the search power of its 6 Sense technology with a messaging and advertising capability.

The various pieces have been in testing and beta use for weeks, but were first announced on May 14th when Monster unveiled a sweeping overhaul of the pay to post recruitment advertising model it pioneered two decades ago. That strategy not only includes new tools and approaches to candidate sourcing, but wholly new approach to job posting, adopting the aggregation model of Indeed and SimplyHired.

Industry News

SF Startup Takes on Recruiters By Upping Referral Ante

20k employee referral

20k employee referralWith a shot over the bow at recruiters, a Silicon Valley startup looking to hire software engineers — and not just any kind, but those with special experience in search, especially those coming from Google — is offering one of the richest hiring bounties in the industry.

For referring an engineer hired by ThoughtSpot, the company will pay $20,000. The deal is available to anyone working for the company, or not, including “friends of the company” and employees’ family.

Industry News

A Decade of Job Changes At A Glance

NY Times jobs chart

NY Times jobs chartIf you want to see what industries and occupations are adding jobs, which are losing, and where they stand, you could you spend a few hours with the Bureau of Labor Statistics drilling into the employment numbers there.

But for a quick look at dozens and dozens of job types, take a look at the amazing — and addictive — interactive charts The New York Times assembled from the BLS data.

The three charts here showing temp, search and PEO jobs, are just a sample of the 255 charts. At a glance, you can see how so many industry types and occupations have fared over the last 10 years

Industry News

Economy Shows Strength Adding 217K New Jobs In May

Econ index May 2014

Econ index May 2014For the fourth consecutive month, the U.S. economy added more than 200,000 jobs in May. The Labor Department reported this morning that 217,000 new jobs were added during the month. The unemployment rate held steady at 6.3%.

Analysts were predicting a gain of about 215,000 new jobs. Most sectors showed gain. Government was one of the weakest, adding 1,000 new jobs all at the local level. State and federal government cut jobs.

Temp employment rose a modest 14,300, the smallest gain since January’s weather-depressed increase of 7,600. Since the beginning of the year, temp job growth has averaged 17,100 monthly. In 2013, the average monthly increase was 19,000. Comparing Jan-May, 2013 averaged 17,800.

Industry News

Temp Hiring Slowdown Depresses May Job Growth

ADP adds chart May 2014

ADP adds chart May 2014Slower hiring by staffing firms and others in the Professional/Business Services sector, and job losses at some mid-size companies, depressed  private sector growth to 179,000 jobs in May, far below the 215,000 estimate of economists.

This morning’s National Employment Report, issued by HR service firm and payroll processor ADP, also reduced April’s growth estimate from 220,000 to 215,000.

“After a strong post-winter rebound in April, job growth in May slowed somewhat,” said Carlos Rodriguez, president and chief executive officer of ADP. However, he noted, “The 179,000 jobs added figure is higher than May of last year and in line with the average over the past twelve months.”

Industry News

Minimum Wage Rates Are Rising State by State

Money in hand

Money in handWhile efforts to raise the federal minimum wage are languishing, 34 states are considering or have taken action to raise their state’s minimum.

Congressional Democrats have been stymied in their effort to raise the federal minimum wage from the current $7.25 to $10.10 an hour over the next 30 months. With 13 states pegging their own minimum wage to the federal government’s, an increase in that rate would also increase the in-state rates.

Industry News

LinkedIn Announces Plan to Begin Aggregating U.S. Job Listings


LinkedIn_logoWith the announcement this morning that it would begin to aggregate jobs from U.S. employers, LinkedIn took a big step  to building its Economic Graph, and realizing its plan to provide all the world’s open jobs to all the world’s workers.

Beginning June 2nd, LinkedIn will offer hundreds of thousands of jobs aggregated from the career sites and ATS’s of U.S. employers who don’t prohibit it. These listings will supplement a nearly similar number of listings employers pay for, but they’ll be made available only to LinkedIn members who actively search for them.

Called “Limited Listings,” these aggregated jobs will be cleaned of an employer’s paid listings to avoid duplication. The differentiation between this new program and LinkedIn’s paid Job Slots and Job Posts is based on active and passive seekers. The paid program places job posts before suitable (matching) candidates and delivers job suggestions to specific types of candidates based on their profiles and employer criteria.