Fourth Quarter Hiring Trends
Commercial and administrative positions will likely see continued hiring increases for the fourth quarter, according to a national hiring trends survey conducted by Express Employment Professionals. Express surveyed 9,340 current and former clients across the company's more than 550 locations in the United States and Canada about their hiring and recruiting plans. According to the hiring trends survey, 30% of respondents plan to hire full-time commercial positions and 28% plan to hire for administrative positions in the fourth quarter. Survey results also indicate that 13% of respondents plan to hire engineers in the fourth quarter, 11% plan to hire marketing professionals, and 9% of respondents anticipate hiring for accounting and finance, and information technology positions.
Express Employment Professionals - Oct. 18, 2010
Small Business Confidence Increases
A recent survey by the National Federation of Independent Business (NFIB) indicates that confidence among small employers in the United States is gradually rising. August brought an increase of 0.7, while September saw a modest gain of 0.2, which placed the Small Business Optimism Index at 89.0. The Index has consistently ranked below 93 every month since January 2008. The trend indicates small business confidence tempered by cautious optimism.
IMarketnews.com – Oct. 12, 2010
Nobel Prize Awarded to Economists for Labor Theory
The 2010 Nobel Prize in Economic Sciences was awarded to American economists Peter Diamond and Dale Mortensen and their British colleague Christopher Pissarides. Their theory seeks to answer two questions: How can economic policy affect unemployment? Why are so many people unemployed at the same time that there are a large number of job openings? Benefit levels in unemployment insurance and rules related to hiring and dismissal are cited in their conclusion, which indicates that unemployment benefits may give rise to higher unemployment and increased search periods both for candidates and companies seeking staff. Diamond has been nominated to serve on the Federal Reserve Board, an appointment currently being evaluated by Congress. Nobelprize.org – Oct. 12, 2010
Retail Sales Continue to Improve
Back-to-school shopping and seasonal sales made for an energizing month for the nation’s retailers. The S&P 500 rose 9% in September, with same store sales stronger than expected at major chains like Limited Brands and Abercrombie & Fitch. Predictions already put this year’s holiday sales ahead of 2009 and 2008.
Marketwatch.com – Oct. 10, 2010
Consumer Confidence Fell in September
The Consumer Confidence Index fell to its lowest level in seven months with a rating of 48.5, according to a recent report. Down from August’s level of 53.2, unemployment and adverse business conditions are cited as principal contributing factors.
The Consumer Confidence Index is based on a survey of 5,000 U.S. households and seeks to gauge popular economic morale, as consumer spending drives two-thirds of the nation's economic activity.
CNNMoney.com – Sept. 28, 2010
September 2010
The U.S. Bureau of Labor Statistics reports that the unemployment rate remained unchanged in September at 9.6%. From May through September, the jobless rate remained in the range of 9.5% to 9.7%. There were 14.8 million unemployed persons in September. Private-sector payroll employment continued to increase, adding an additional 64,000 jobs, primarily in three main areas: health care, professional and business services, and leisure and hospitality. 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: - 62,000
• Manufacturing: - 114,000
• Mining: - 20,000
• Professional and Business Services: + 28,000
• Health Care: + 24,000
• Information: - 11,000
• Financial Activities: + 42,000
• Government: + 5,000
Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2010.