Predicted First Quarter Hiring Trends
Commercial and administrative positions will likely see continued hiring increases for the first quarter of 2011, according to a national hiring trends survey conducted by Express Employment Professionals.
Express surveyed 15,070 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, 29% of respondents plan to hire full-time commercial positions and 19% plan to hire for administrative positions in the first quarter. Survey results also indicate that 12% of respondents plan to hire engineers in the first quarter, and 9% plan to hire marketing professionals.
Express Employment Professionals - Dec. 20, 2010
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Retail Sales Better than Expected
Retail sales rose 6.3% in November over the same period in 2009. This increase beat even the most optimistic predictions of a 3.8% uptick. Three-quarters of retailers surveyed reported better-than-average sales. Black Friday purchases led the way, as deep discounts prompted an estimated 221 million shoppers to spend approximately $45 billion during Thanksgiving weekend alone. E-commerce for November also rose 16% for the largest-grossing Cyber Monday on record where Americans spent more than $1 billion online. Analysts cited early holiday promotions, improving economic conditions, and pent-up demand by consumers as factors that contributed to the increase.
CNNMoney.com – Dec. 7, 2010
Consumer Confidence Best Since May
The Consumer Confidence Index rose 4.2 points in November to 54.1, the most significant gain since May. The "jobs plentiful" portion of the index, in which consumers state that jobs are plentiful, also increased for the first time since July. However, most consumers agreed that jobs remain "hard to get." 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. Read more about the Consumer Confidence Index.
Conference-board.org – Dec. 9, 2010
Employment Trends Index Rises Again
The Conference Board’s Employment Trends Index (ETI) rose for the second consecutive month, a positive marker for future job creation. A gain of 1.4% in November brought the ETI to 99, according to the New York-based private research group. “While we are not expecting economic activity or employment to grow rapidly anytime soon, we do expect employment to continue to moderately increase, following the trend of recent months,” said Gad Levanon, associate director of macroeconomic research at the Conference Board. The ETI combines eight labor market indicators to forecast short-term hiring trends. Seven of the eight indicators scored positively in November.
Businessweek.com – Dec. 7, 2010
Consumer Credit Increases by Highest Rate in Two Years
After 26 straight months of declining consumer credit rates, borrowing in September and October increased by the highest rate since July 2008. The Federal Reserve reported that consumer credit rose at an annual rate of $3.4 billion in October, according to revised reports issued the first week of December. The increase is due in part to a change in federal law that makes the U.S. government the nation’s primary lender on student loans. Auto loans are credited with September’s modest gains, as vehicle sales peaked unexpectedly. The credit scale rounded out at $3.1 trillion, down 7.1% from the same time in 2009.
Associated Press – Dec. 8, 2010
Seven States Raise Minimum Wage
Minimum wage rates will change in Arizona, Colorado, Montana, Ohio, Oregon, Vermont, and Washington, as of Jan. 1, 2011. The Department of Labor notes the states’ average increase is 10 cents per hour. Increases of 12 cents per hour in Colorado and Washington top the list with the highest changes set to take effect.
DOL.gov – Dec. 9, 2010
Corporate Training Expenditures Increase
A new report released by the American Society for Training & Development (ASTD) that compares corporate expenditures on employee training for 2009 over those of the previous year indicates that companies are increasing their training budgets. The ASTD reported that U.S. corporations spent nearly $126 billion on continued education for employees last year, averaging $1,081 per employee, an increase of 1.8% from 2008. The percentage of learning hours available through technology peaked to its highest level on record, at 36.5% of opportunities offered. Analysts say the increases in corporate training budgets point to retraining efforts, as smaller workforces take on larger job functions with fewer staff members to perform an expanding set of duties.
SHRM.org – Dec. 9, 2010
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November 2010
The U.S. Bureau of Labor Statistics reports that the unemployment rate gained 0.2 points in November, which put it at 9.8% after three months of holding steady at 9.6%. There were 15.1 million unemployed persons in November, an increase from October’s 14.8 million. Total private-sector payroll employment added 50,000 jobs. Learn more from the most recent employment report from the Bureau of Labor Statistics. View the unemployment rate in your state.BLS.gov – Dec. 7, 2010
Major Industry Employment:
• Construction: - 5,000
• Manufacturing: - 13,000
• Mining: + 3,000
• Professional and business services: + 53,000
• Health Care: + 23,100
• Government: - 11,000
• Leisure and hospitality: + 11,000
• Transportation and warehousing: + 11,600
Employment Trends is a publication of Express Services, Inc., Oklahoma City, Oklahoma. © 2010.