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IN THIS ISSUE
Newsletter Sponsors
A Note from the Editor
Breaking News
Today's Recruiting News Headlines
Featured Recruiting Jobs
Weekly
Article:
The Big
Picture - the Grinding Job Market
Employment and
Economy Stats - New
Special Trials and Discounts
Recruiting
Polls and Trends
Layoffs and Downsizing
Report
Recruiting Essential Bookmarks
Upcoming Conferences
Site Of The Week:
Jobs4Sales.com
Final Note - On The Lighter Side
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Newsletter Sponsors
1.
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A Note From The Editor
Jobless Claims Fall Sharply
to 319,000
The number of new people
signing up for jobless benefits plunged last week,
partly reflecting a tapering off of filings related to
Hurricane Charley.
For the week ending Sept. 4, new applications for
unemployment insurance dropped by a seasonally adjusted
44,000 from the previous week to 319,000, the lowest
level since July 3, the Labor Department reported
Thursday.
The decline of 44,000 was the largest decrease since
the week ending Dec. 8, 2001.
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Breaking News
Monster Employment Index
Shows Jump in Online Job Demand in August
Overall demand for workers and related online job
recruitment activity across the United States grew in
August, as the Monster Employment Index reached its
highest level since its inception. Rebounding off a
slight decline in July, the Index resumed its upward
trend in August, reflecting continued strength in U.S.
online job availability. Overall, the Index rose to 145
in August from 134 in July.
Complete Index >>
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Today's Recruiting News Headlines
View HR/employment
news
headlines or our Recruiting
Newswire.
Please send us with your
press releases, news items, personnel changes, etc. Click
here for submission instructions.
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Featured Recruiting
Jobs
This section highlights
several recruiting related positions recently posted on
Recruiting Jobs. To view all jobs or to register
for a career agent
click here.
Looking to hire
recruiting professionals? Post a 60 day job
posting ad on RecruitingJobs.com for $225 and be
featured in Recruiting News.
Register
to post >>
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Weekly Article
The Big
Picture - the Grinding Job Market
By Mike Ramer
So, what's happening with this job market? Earlier
this year we saw excellent job numbers in Q1 and Q2: Job
growth from January through May averaged +225,000 per
month. In June and July, only an average +55,000 per
month. This shouldn't be that surprising. Hiring slowed
this summer as economic growth moderated due to a
variety of factors;
- Slowing monetary stimulus (Fed has begun raising
rates) and fiscal stimulus (tax breaks have already
worked their way through).
- Increasing oil prices (rise of 35%+) have been a
drag on the economy, since higher energy prices act like
a tax on consumer spending.
- Continued uncertainty: Ongoing turmoil in Iraq /
terrorism concerns preceding the political conventions /
unsure outcome in presidential election.
- Corporate reluctance has: 1) limited hiring of new
workers 2) added to volatility in the financial markets.
 Not
to worry. Overall, cash-rich businesses are optimistic
about the 2nd half of '04. Business equipment-spending
and inventories are rising. A great sign of continued
growth. The Federal Reserve continues to inch up
interest rates and projects future confidence. If we can
get past the November election with no terrorist
incidents, the price of oil should moderate...financial
markets will perk up...and businesses will go into '05
with more confidence to hire.
The breakdown in the recent July U.S. jobs report
isn't that bad:
+ 42,000 in professional services jobs (including
healthcare, financial, legal, etc.)
+ 10,000 manufacturing jobs (even with losses from auto
sector)
+ 7,800 in hospitality
- 19,000 in retail
- 15,000 in mortgage related jobs
> Nationally, the unemployment rate ticked down to 5.5%.
So what does this mean for us in the staffing
industry at this point in time? Hang tight and keep
developing relationships.
> Many report that demand for staffing services
continues to be strong. Indeed, there is an underlying,
"beneath-the-surface" demand for workers. And, the job
boards are not delivering the quality of candidates to
keep up with that demand.
> The elongated time period of 1st sendout to hiring
decision to start date will contract after the summer.
All those interviews arranged over the summer should
fall into place post Labor Day. As I like to say in my
training, "Keep the planes circling the airport and they
will land!"
With the summer season relatively slow, companies are
still running lean and will need to keep up with demand.
That means hiring workers. I foresee a larger than usual
increase in hiring in September and October. And, a
strong move in Q1/Q2 of 2005..similar to what was
experienced for many during the same times last year.
Plus a Q4 motivator: Spending 2004 hiring budgets by
year end.
About the Author
Mike Ramer, CPC, is a national trainer for the search
industry. Mike designed his “ART of Search” training
programs which he delivers in-house at recruiting firms
and conferences nationwide. For more information about
Mike’s training and speaking schedule, please visit his
firm’s website at http://www.RamerGroup.com or email him
a
mramer@ramergroup.com.
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Employment and Economy Stats
- New
|
Current Stats
CPI:
-0.1%
in July 2004
Unemployment Rate:
5.5% in July 2004
Payroll Employment:
+33,000(p) in July 2004
Average Hourly Earnings:
+$0.05(p) in Aug 2004
PPI:
0.1%(p)
in July 2004
ECI:
+0.9% in 2nd Qtr of 2004
Productivity:
+2.9% in 2nd Qtr of 2004
U.S. Import Price Index:
+1.7% in Aug 2004
Source:
BLS.gov |
Trends Unemployment Rate
5.4% Aug 2004
5.5% July 2004
5.6% Jun 2004
5.6% May 2004
5.6% Apr 2004
5.7% Mar 2004
5.6% Feb 2004
5.6% Jan 2004
Employment Cost Index
+.9% 2nd Qtr of 2004
+1.1% 1st Qtr of 2004
+0.7% 4th Qtr/2003
Change in Payroll Employment
+144,000 Aug 2004
+32,000 July 2004
+112,000 June 2004
+235,000 May 2004
+324,000 Apr 2004
+353,000 Mar 2004
+83,000 Feb 2004
+159,000 Jan 2004
Source:
BLS.gov |
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Special Trials And Discounts
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Click here for full list. If your company is interested in
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Recruiting Polls and Trends
INDUSTRIES GET
INVENTIVE TRYING TO FILL RETIRING BOOMERS’ SEATS
Recent studies predict a looming crisis on the job
front as a growing percentage of the work force
approaches retirement age.
The prospects have spurred companies to attack the
problem on several fronts: by providing incentives to
keep experienced employees, by doing more to attract and
help educate potential employees and by recording worker
know-how so that knowledge is not lost.
Many companies say they have had to get creative to
address the problem.
One company said 14 percent of its 8,300-strong work
force will retire within the next five years.
Full Story >>
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Layoffs and Downsizing
Report
Recruiters Network has added
a layoff and downsizing report section to its
newsletter. This section can be a great leads source for
candidates.
More information on how to use this section >>.
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Recruiting Essential Bookmarks
HR Forms
www.recruitersnetwork.com/forms/index.htm
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Other Useful Links
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Upcoming Seminars &
Conferences
Sept 14-16 -
Workforce Excellence Summit
Sept 20-23 -
NAPEO Professional
Employer & Marketplace
Sept 28-29 -
The 7th Annual Recruiting & Staffing Summit
Sept 28-29 -
HR Measurement Summit
Complete calendar for upcoming
conferences and
seminars.
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Site Of The Week
Jobs4Sales.com
Looking for sales
professionals. Post on your jobs on Jobs4Sales.com. As a
special promotion for September - buy one job posting
get one free.
Visit
www.jobs4sales.com
and mention the promotion in the comments section.
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Final Note - On The
Lighter Side
TWELVE THINGS YOU'LL
NEVER HEAR AN EMPLOYEE TELL HIS/HER BOSS
1. Never give me work in the morning. Always wait until
5:00 and then bring it to me. The challenge of a
deadline is always refreshing.
2. If it's really a "rush job," run in and interrupt me
every 10 minutes to inquire how it's going. That greatly
aids my efficiency.
3. Always leave without telling anyone where you're
going. It gives me a chance to be creative when someone
asks where you are.
4. If my arms are full of papers, boxes, books or
supplies, don't open the door for me. I might need to
learn how to function as a paraplegic in future and
opening doors is good training.
Complete Joke >>
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