A Look at Employment and What’s Ahead

Written by Blogger on . Posted in Industry

Is the economy headed for another meltdown or are we just experiencing a hiccup in the national recovery?

That’s what experts are asking after after the Bureau of Labor Statistics released its latest employment numbers for May at the end of last week, which were much lower than the anticipated addition of 150,000 jobs.

Overall, the nation added only 69,000 jobs, while the unemployment rate rose slightly to 8.2 percent. There were a total of 12.7 million unemployed people, with the number of long-term unemployed people rising from 5.1 million to 5.4 million.

Lawrence Creatura, a stock portfolio manager with Federated Investors, told the Associated Press:

“The jobs report was just bad … What we’re seeing is that the job market, post-financial crisis, has not been able to reignite itself. It hasn’t been able to set off that chain reaction where an improving economy creates more jobs, and more jobs improve the economy, creating more jobs. That hasn’t started yet.”

Most major industries didn’t see a lot of movement in terms of employment, with employers in the healthcare, transportation and warehousing, and wholesale trade industries being the only ones to add a significant number of jobs. On the downside, the construction industry took a turn for the worse.

Unimpressive Numbers

Including the May employment numbers, the U.S. has added an average of 96,000 jobs during each of the last three months, which is down from the 245,000 average gain between December and February.

In addition, experts point out that the main reason the increase in unemployment was so small is because a lot of people stopped looking for work, so they’re no longer counted among the unemployment rolls.

And even worse – the BLS revised its employment numbers for March and April, dropping them from 154,000 to 143,000 and from 115,000 to 77,000, respectively.

Sheila Dewan at The New York Times notes:

“Economists can explain away a month or two of dismal numbers, but a three-month run is difficult to ignore. The economy now seems to be following the spring slowdown pattern of the last two years — a bright spot of accelerating growth followed by a slump. The news on Friday even raised mentions of a possibility that dogged last year’s forecasts but did not come to pass: another recession.”

Of course, the weak employment figures are having an effect on the entire global market as well, especially since they came shortly after other data that points to weakening economies in Europe and Asia. Financial markets from Wall Street to Germany took a dive today.

A Few Positives

The good thing is that a few key industries did continue adding jobs during May:

  • Transportation and warehousing – The industry added 36,000 jobs over the month, with ground passenger transportation accounting for most of that gain.
  • Healthcare – With an addition of 33,000 workers, the healthcare industry continued its ever-growing trend, with much of the employment gain coming from the ambulatory healthcare services sector.
  • Manufacturing – One of the most important industries to our economy, manufacturing added 12,000 jobs last month, with employers in fabricated metal products and primary metals hiring the most workers.

Mostly Negatives

Aside from the overall paltry employment figures, the BLS report found that most industries saw little to no change in employment, while one of our most significant industries actually lost workers.

The construction industry, which along with manufacturing has long been a primary indicator of the overall health of the economy, lost 28,000 jobs during May. Payrolls were cut in specialty trade contractors and heavy and civil engineering construction.

Most of the other industries that we pay close attention to on a monthly basis – professional and business services; mining and logging; retail trade; information; financial activities; leisure and hospitality; and government – all saw little or no change in employment last month.

Looking Ahead

In reality, the economy sways back and forth so much that it’s hard to predict what effect the May employment numbers will have in the next several weeks and months.

As Tim Duy wrote over at Forbes:

“Two thoughts come to mind. First, I have said it before and I will say it again: If you become either too optimistic or too pessimistic about the path of the US recovery, you will almost certainly be slapped down in a matter of months.

 

“Second, this summer is looking like a carbon copy of 2011. The US data is turning softer just while the European saga is heating up. This time, we have some additional icing on the cake, with emerging markets faltering as well. And that black box that is China could be in free fall for all we know – commodity prices and cash outflows are pointing to some real distress.”

Many experts think that if legislators in Washington, D.C. don’t do anything to help the economy improve at a faster rate, the Federal Reserve will be forced to step in

Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, told the Wall Street Journal:

“Right now I feel that our accommodative monetary policy is appropriate given my outlook. I always want to balance the risks and costs of doing more. I have an outlook for inflation to remain close to our 2% objective through 2014. It’s important to take a balanced approach on what more we can do for broader economic growth. We need to make sure that we maintain our stable price objective so you have to balance those two objectives.”

Automation Can Improve Recruiting Process

Written by Blogger on . Posted in Industry

Do you have your hands on the resume of that promising candidate that came in last month? Are you buried in paper trying to wade through all those resumes and applications you have collected? Are you just crossing your fingers and hoping that the really sharp guy whose resume came too late for your last posting will respond to your new ad?

So how many job candidates have you lost because of an inefficient processing system in your personnel recruiting office?

Every business can probably point to cases where they have lost potential employees because of processing issues in their personnel management operations. HR staffs try to keep on top of things by keeping resume files on promising candidates and using resume files as a key sourcing tool when job vacancies arise.

Now there is a way to use technology to bring order and structure to your HR recruiting operation and make it more reliable and efficient. Check out PCRecruiter for more information on this.

“Hiring fundamentals that include a systematic process for hiring and consistent execution of the hiring process result in superior employee wins for your organization,” Susan M. Heathfield said in a post at About.com.

Putting an automated recruiting system to work in in your HR department will give you the tools you need to customize a systematic process for your hiring.

The right system will allow you to track and manage contacts, compile a searchable database of prospects, compile candidate profiles, collect required information from candidates, and put your application process online.

With the right systems in place to collect and organize information on your applicant pool, you will have a much better chance of attracting and recruiting the best candidates for your company.

The Right Staffing Software Can Help You Find the Right Candidates in the Right Place

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Is your staffing software helping you find the right employees, and more importantly, is it helping the right employees find you?

Recent research finds that employers are able to hire the best candidates when they advertise their job openings in a small number of places. That being said, it’s important for companies to make sure that their staffing software programs allow easy integration with most or all of these sources. Check out http://www.pcrecruiter.net for more info.

Today’s state-of-the-art staffing software solutions are capable of doing much more than just making the recruiting process easier and cheaper for your company. The best solutions will have the ability to integrate your job openings in the places where candidates are looking most, mainly job boards and social media sites.

According to Weddle’s 2011 Survey of Recruiting Trends, a majority of employers still prefer to post their jobs on commercial job boards – more specifically, targeted niche job boards – because that’s where the highest quality candidates are found.

The survey revealed that employers find the best candidates in the following places:

  • 40.7 on job boards
  • 12.9 percent through an employee referral program
  • 11.1 percent by posting jobs on their own websites
  • 9.3 percent on social networking sites
  • 5.6 percent through staffing firms
  • 5.5 percent by advertising job openings in newspapers

Furthermore, 77.3 percent of employers are posting more than half of their job openings online, while only 6.1 percent aren’t using the Internet at all for recruiting. The results have been great, with 50.8 percent of employers hiring more than half of their new employees online. And those employees are pretty talented, with 54.1 percent of employers labeling new hires found online as above average or among the company’s best workers.

So what’s the reason that employers are having such good luck finding high-quality candidates in these places? The answer is simple – because these are the same places job seekers are turning to in order to find work.

When it comes to job seekers, the survey found that:

  • 69 percent find the Internet helpful in their job search
  • 69.7 percent think they will find their next job through an online job board
  • 34 percent found their current job online
  • 58 percent visit at least one job board up to eight times per month

So, if your staffing software provider doesn’t allow easy integration with job boards, social networking sites, or other popular  recruiting sources, it might be time to think about finding a new provider.

Recruiting Software Does it All

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Main Sequence, also known as PCRecruiter, is a recruiting software that helps a business to narrow down the hundred of applicants it receives each day, by highlighting those applications most suited to the job. This software has an amazing ability to connect with your iPhone and iPad and even syncs with the information in your Gmail Calendar.

There doesn’t seem to be anything that this software cannot do. With many applicants competing online for work today, Main Sequence is a software well suited to companies that cannot possibly read through hundreds and hundreds of resumes and cover letters that they receive.

While it may take a while to to learn and understand the software, anything worthwhile requires the patience and diligence to discover and exploit it to its full potential. Companies that have used this software find their workload reduced and are happy since they are finding and recruiting the best candidates available to them.

There are new plans on the table right now to make this fantastic software even easier to use. One of these plans is the inclusion of voice.

With all of the glowing reviews that this software has had, it would do a company well to investigate it further to see what it can do for the organization. Time is money and if there is a software program out there that can save time and money, Main Sequence is it.

If you would like to check this software out further, take a trip to our website to view a short video clip which will convince you of he unmatched value of this software program.