Career and Job-Hunting Blog
Career and job-search news, trends, and scoops for job-seekers, compiled by the staff of Quintessential Careers.
|February 23, 2009|
More layoffs, new tools for finding the hidden job market and applying for unemployment benefits, and with an eye toward March as a tipping point for future.
More employers announced job layoffs in the past week, including: Volcom, Disney, Borders, Avon, General Motors, Goodyear, Agilent Technologies, Chrysler, ConocoPhillips, and Smithfield Foods.
To assist job-seekers looking for new work opportunities, we have added a new article, Tapping Into the Hidden Job Market: Uncovering Unpublicized Job Leads.
To assist workers who are about to be — or have just been — laid off, we have links to every state’s unemployment Website, where in many cases you can apply online.
Finally, an interesting article on Time.com by Douglas McIntyre suggests that March may be the tipping point for the recession in the U.S. — that by the end of next month we may know enough about the pace of job losses, the level of confidence in the banking system, the fate of the domestic automakers, the state of the housing market in terms of prices and foreclosures, and several key indicators (including consumer confidence, retail spending). Furthermore, the stimulus bill should begin having an impact on both spending and tax cuts. Finally, March is also the end of the first quarter and the transition to the next quarter, which makes investors and other pause and reflect on quarterly results and predictions for the next quarter and beyond.
|February 18, 2009|
A new government Website details the expected job saving and creating effects of the stimulus bill, just as others question strength of private sector job growth.
If you’re wondering how many jobs are expected to be created or saved in your state from The American Recovery and Reinvestment Act over the next two years, check out this new interactive map on recovery.gov.
Meanwhile, James Cooper ponders in the February 23, 2009, issue of Business Week whether we will see more of a jobless recovery as the economy starts lurching forward later this year. Will employers — as demand returns to the marketplace — squeeze more and more productivity out of the remaining workforce for as long as possible before hiring new workers?
There are certainly signs that job growth in most industry sectors will be a long time in coming, but as confidence builds over a slow return to economic stability and growth, job-seekers should see a slow return to more job openings.
Finally, to facilitate the expected return to growth in a few key sectors, Quintessential Careers and EmpoweringSites.com have partnered to develop these niche job sites — as part of the EmpoweringJobSites.com Network:
|February 13, 2009|
A major consulting firm predicts solid job growth in the U.S. starting in 2010 and continuing through at least 2012.
Moody’s Economy.com forecasts that overall job declines will begin decreasing through the remainder of 2009 and that the U.S. will see job growth for the first time in two years in the first quarter of 2010. Certain sectors and certain states are expected to see new or continued job growth later this year.
Using an interactive tool in a report published on USATODAY.com, you can see job growth predictions by job sector through 2012, including for construction, education and health services, financial services, government, information, leisure and hospitality, manufacturing, natural resources and mining, professional and business services, retail trade, transportation, utilities, and other services. (You can also see job growth projections by state.)
According to USATODAY.com, the job model uses a number of different factors, including policy decisions made by the Federal Reserve and projections about the fiscal stimulus package, as well as the bank bailout legislation.
|February 11, 2009|
More companies announce layoffs, all but three brave Republican senators vote against stimulus bill, while other employers mull cutting hours — not workers.
It seems clear to everyone except some in Washington (and perhaps other parts of the land) that the U.S. is in dire need of real change — in terms of an economic and psychological stimulus package that could save or create millions of jobs. Why vote against something like that — even if it is bigger than we ever imagined? How did Iraq qualify for all those millions in stimulus money all these last couple of years while the U.S. qualifies for none? It’s a strange world — and the ones who are getting hurt are the American people. We can pay for a foreign war and reconstruction, but not fix our own country?
A sign of just how bad times are getting? Even Wal-Mart announced it will cut some jobs — mostly corporate (about 700-800). Meanwhile, it was GM that again made the biggest news, announcing another round of cuts — this time close to 10,000. Qwest also announced job cuts of about 1,700, while Rockwell Collins is cutting 600 jobs. Late yesterday, Nike also announced possible cuts of up to 1,400 jobs.
Meanwhile, there are ongoing reports of all types of employers — big and large companies as well as local and state governments — that are cutting worker hours and shortening work weeks in an attempt to save money — and save jobs. While, workers face a short-term cut in pay, at least they still will have a job. Some HR folks, though, think the practice could lead to reduced morale and the possibility of some workers taking second jobs to compensate for the lost income, causing them to lose focus on their primary jobs.
|February 6, 2009|
Just under 600,000 jobs were cut by employers in January, the largest amount since December 1974, as unemployment rate goes higher.
The U.S. Labor Department released figures this morning that shows a loss of 598,000 jobs in last month, pushing the country’s unemployment rate to 7.6 percent — the highest since September 1992 — and marking the 13th consecutive month of job losses. All told, more than 3.5 million jobs have been lost since the current recession started.
Slightly more jobs were lost in December, as the Labor Department also released revised numbers — saying that the economy lost 577,000 jobs that month (higher than the original figure of 524,000).
Job losses were felt in the same sectors of the economy as in previous months, with manufacturing cutting 207,000 jobs, construction slashing another 111,000 jobs, professional and business services eliminating 121,000 positions, retailing slashing 45,000 jobs, and leisure and hospitality employers cutting 28,000 jobs.
There was some small good news, as employment gains were seen in education and health services, as well as in the government.
In a previous report, it was reported that last week the number of Americans filing first-time jobless claims reached a 26-year high, with 626,000 requesting aid.
|February 4, 2009|
We won’t know until Friday’s report from the Labor Department, but experts predict as many as 600,000 jobs were lost in January.
The ADP Employer Services report, a monthly review of manufacturing and service jobs based on payroll data, estimates that employers cut 522,000 jobs in the U.S. in January.
Other experts put the number of jobs lost in January anywhere from 520,000 to 600,000… with expectations that the nation’s unemployment rate will jump to 7.5 percent (from the current 7.2 percent) — the highest level in 16 years. Some expect the unemployment number to jump even higher, perhaps closer to 8 percent, depending on the size of the job cuts.
These loses continue the trend set in January of last year. The U.S. lost almost 2.6 million jobs in 2008 — the most since 1945.
Meanwhile, more companies are announcing layoffs, from PNC Financial Services (which gobbled up National City and is facing serious redundancies of operations) — which plans cuts of 5,800 jobs — to Liz Claiborne, Inc., which is eliminating 725 jobs, and King Pharmaceuticals, Inc., which is cutting 520 jobs.
|February 1, 2009|
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