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The Fordyce Letter

Straight Talk for the Recruiting Profession


Articles tagged 'unemployment'

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.

Viewpoint

Recruiting: It’s Not Just Filling Job Orders



Ethics weighing the world

Ethics weighing the worldWhat do we stand for?

What is it we do as recruiters? Fill jobs? Source candidates? Use ATS, social networks, job boards, etc? An excellent recruiter and friend of mine — John Amodeo — has a great answer. John says we’re in the life-changing business. Think about it. When we fill a job we’ve transformed somebody’s life, hopefully for the better.

Industry News

‘Normalcy’ In Labor Market Not Likely Until 2015



fed reserve labor market chart

fed reserve labor market chartUnless new economic shocks should upset the rate of improvement, it will take at least two more years before the U.S. labor market returns to its historic norms.

Crunching together 23 different labor market indicators, two economists with the sometimes contrarian Federal Reserve Bank of Kansas City said that though the rate of change is well above the average of the last 20 years, it hasn’t translated into an equivalent rate of improvement in labor market conditions.

What that means is that despite the acceleration in job creation, temp hiring, job availability, and other labor market measures, the national unemployment rate will continue to decline only slowly.

Uncategorized, Viewpoint

Follow These 5 Tips to Place An Unemployed Candidate



fordyce-default

EmploymentSmall75Nobody wants to hire an unemployed person. It’s a problem that most recruiters — whether here in the U.K. or elsewhere — face. On several occasions, I’ve actually had clients request that I seek somebody already in work.

The increasing scarcity of jobs puts us in a tricky situation where:

  • Employers can be pickier about who they hire;
  • There are more jobless candidates (who nobody wants);
  • People are reluctant to trade in a secure job for a new one.

Clients are demanding high caliber candidates while refusing to consider the talent that is actually available to us and them.

Industry News

Employment Up; Unemployment Drops In Most States



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The U.S. employment picture is looking decidedly brighter at the end of 2012 than it did a year ago. For its final report of the year, the Bureau of Labor Statistics says the unemployment rate dropped in 45 states in November; nowhere did it rise.

Staffing

Analyst Says Temps Could Be 50% Of The Workforce



Temp workers July 2012

The world is suddenly waking up to the discovery that employers are bringing on temp and contract workers at a pace that will soon surpass the peak numbers of 2006.

Subscribers to The Fordyce Letter first read about the surge in temp workers in the May issue. Following the release of the June employment numbers by the Bureau of Labor Statistics, FordyceLetter.com reported, “There are now 2.534 million contract and temp workers in the U.S., a number just a few months shy of exceeding the all time high of 2.657 million reached in August 2006.”

Now, U.S. News says “Temp Workers Make Huge Comeback.” The article points out that the staffing industry has regained almost all the jobs lost in the recession, while other employers have added just over half the ones they shed. It’s not simply a sign of cautious employers bringing in extra help while waiting to see what the economy will do, but evidence of a trend.

Industry News

Temp Hiring Resumes Upward Growth, But April Jobs Numbers Lack Luster



Temp worker hiring 2011-april 2012

Hiring by staffing and employment agencies continued its upward trajectory during April, but even the strong showing couldn’t overcome the generally sluggish hiring by American businesses last month.

The U.S. Department of Labor in its monthly report out this morning said 115,000 new jobs were created in April, well below the 160,000 or so that economists, on average, were expecting.

The report also showed the unemployment rate dipping from 8.2 percent to 8.1 percent, mostly due to workers leaving the labor force. The share of Americans now in the labor force is at the lowest level since 1981, the New York Times reported.

Hiring by staffing agencies alone added 21,000 jobs during the month. Hiring by employment services (nurse registries, etc.) accounted for just under 7,000 more.

Industry News

Jobs Report: U.S. Adds 243,000 Jobs, Unemployment Rate Drops Again



us-bureau-of-labor-statistics-logo

Strike up the band. Break out the confetti. The market’s going to love this. The U.S. unemployment rate dropped to 8.3 percent and non-farm jobs grew by 243,000 in January.

This morning’s monthly report from the U.S. Department of Labor blasted through even the most optimistic of expectations. The jobs gain would have been the largest since May 2010, except that the Labor Department’s data group adjusted 2011′s jobs numbers. Now, only March (+246,000) and April (+251,000) had stronger numbers.

January is the second consecutive month to beat estimates. Economists predicted anywhere from MarketWatch’s tepid 121,000 to the more optimistic 182,000 in the Bloomberg survey. None of the widely reported surveys saw a decline in the unemployment rate.

Indeed, the unemployment rate, which has been declining very slowly since hitting a peak of 10.1 percent in late 2009, is now at the lowest point since February 2009. The government report also put the number of unemployed at 12.8 million. A year ago it was at 13.9 million.

While governments continued to cut jobs — federal jobs were cut by 6,000 and local government cut 11,000 positions — the private sector added 257,000. This was more than 50 percent higher than the ADP estimate earlier in the week.

Industry News

ADP Report: 170k New Private Jobs In January



ADP-Employment-report

HR services company ADP says the U.S. added 170,000 private sector jobs in January, providing more evidence that while the economy isn’t backsliding, it also isn’t advancing.

Indeed the January number came in below the average of 182,000, which is what economists in a Bloomberg survey were expecting. A Dow Jones Newswires survey however put the number right at 170,000.

The ADP report also adjusted down the December numbers from the initial 325,000 to 292,000.  Nearly all the January gain, says ADP, came from companies with fewer than 500 workers, and all but 18,000 of the new jobs were in the service sector. Manufacturing added 10,000 workers during the month.

A year ago, ADP said 190,000 private sector jobs were created in January.

Industry News

2011 Ends With Lowered Unemployment and 200,000 New Jobs



us-bureau-of-labor-statistics-logo

Surprising economists and putting an upbeat end to 2011, the U.S. unemployment rate declined to 8.5 percent in December while the economy added 200,000 new non-farm jobs.

It was the fourth consecutive month of declines in the unemployment rate, and the sixth month of six-figure job growth. December’s unemployment rate is the lowest since early 2009.

The official numbers from the U.S. Department of Labor beat all but the most aggressive estimates. Economists were expecting the unemployment rate to rise, and predicted new job numbers in the 150,000 range.