2009 EEO-1 Survey Reminder
The filing deadline for the 2009 EEO-1 Survey or Employer Information Report EEO-1 is September 30, 2009. Most private employers with 100 + employees and certain federal contractors are required to file this form with the U.S. Equal Employment Opportunity Commission’s Joint Reporting Committee (EEOC). The EEOC uses the data to support civil rights enforcement and analyze employment patterns within companies, industries, and regions. According to the EEOC’s EEO-1 Instruction Booklet, companies failing to comply will be turned over to the United States District Court. Also, penalties for failure by a Federal contractor or subcontractor to comply may include termination of the Federal government contract and debarment from future Federal contracts. Find out if you’re required to file. Have questions about the 2009 EEO-1 Report? Contact your local Express office about the HR Hotline.
Express Employment Professionals – Sept. 8, 2009
Job Security Slips in U.S. Worker Satisfaction Rankings
Job security satisfaction among U.S. employees has fallen to its lowest level since 2003, according to a recent Gallup Poll. Among Americans who are employed full- or part-time, 50% report feeling satisfied with their job security, down from 56% in 2007. The poll was conducted between August 6-9, a time when there was an equal number of employers both hiring and letting people go, a steep contrast to the same time period in 2008, when employees were reporting employers were expanding.
Gallup.com – Aug. 27, 2009
Workers Plan to Spend on Benefits
According to a new survey by MetLife Inc., 90% of employees plan to sustain or increase current work benefits during open enrollment season. The telephone survey of 1,000 workers 18 years and older was conducted in July. More than a third of respondents reported having less money to spend, but only 11% reported they plan on decreasing benefits. Workers are looking to save money, and some are looking to expand spending in benefits, even though income levels are lower than years past, according to the report.
TheAssociatedPress.com – Sept. 2, 2009
Bleak Outlook for Pay Raises in 2010
The number of job losses continued to fall in August, a positive sign that the job market may be rebounding. However, pay raises for workers in 2010 seem dim. The median pay raise for salary employees in 2009 is 2.5%, down from 3.5% employers forecasted before the recession hit and 2.7% in 2008, according to a recent survey released by the Conference Board. Budgets for salary raises are expected to rise by 3%, the report showed, and is the smallest increase in 25 years. Inflation is expected to increase by 2% in 2010, meaning that essentially, the average raise in pay in 2010 will total 1%.
CNNMoney.com – Sept. 1, 2009
Consumer Confidence Rebounds in August
The consumer confidence index increased in August to 54.1, up from a revised reading of 47.1 in July, according to the Conference Board. The expectations index, which measures consumer outlook on future economic conditions, improved to 73.5 in August, up from 63.4 in July. The improvement in the expectations index is at its highest level since December 2007, the report showed. The present situation index, a measure of consumers’ opinions on current economic conditions, increased to 24.9, up from 23.3 in July. The increase in consumer confidence is a result of consumers’ outlook on the job market, according to experts. The monthly consumer confidence survey is based on 5,000 U.S. households.
The Conference Board – July 28, 2009
Pending Home Sales Rise
According to the National Association of Realtors (NAR), the index for pending sales of existing homes rose by 3.2% in July, reaching an index reading of 97.6. The index level is the highest since June 2007 and is the sixth straight month of increases, NAR reported. Economists attribute the increase in existing home sales to foreclosure-forced declines in prices, low borrowing costs, and first-time homebuyer tax credits. This index measures current activity against sales activity in 2001, the year the index started. A reading of 100 demonstrates equal levels with that year.
Bloomberg.com – Sept. 1, 2009
Productivity Grows at Fastest Pace in Six Years
As companies cut costs to outlast the recession, worker productivity – the single biggest factor for determining living standards – increased at its fastest pace in six years, while labor costs fell more than they have in nine years, according to the U.S. Department of Labor. Worker productivity reached an annual rate of 6.6% in the second quarter of 2009. Labor costs fell at an annual rate of 5.9%, the largest decline since the second quarter of 2000. Employers are using productivity gains to supplement their bottom line instead of increasing wages, which helps boost living standards, experts report.
TheAssociatedPress.com – Sept. 2, 2009
August 2009
The unemployment rate increased to 9.7% in August, up from 9.4% in July. Although employers eased on layoffs, cutting 216,000 jobs in August, job loss was still seen across all major industry sectors, with the largest declines seen in manufacturing and construction. Learn more from the most recent employment report from the Bureau of Labor Statistics. View the unemployment rate in your state.
Major Industry Employment:
• Construction: - 65,000
• Manufacturing: - 63,000
• Retail Trade: - 10,000
• Professional & Business Services: - 22,000
• Educational & Health Services: + 52,000
• Leisure & Hospitality: - 21,000
• Government: - 18,000
Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2009.