Washington (CNN) -- College graduates next May will face better job prospects than students last year as large corporations end hiring freezes, small businesses reshape the economy and employers become more confident they can safely expand, according to a report on national hiring practices by researchers at Michigan State University.
The Recruiting Trends 2010-2011 survey, released November 17, found that overall hiring is expected to grow by 3 percent over last year to provide 122,000 opportunities for graduates across all degree levels.
In fact, nearly 72 percent of those positions could be filled at the bachelor's degree level alone, as the entire college labor market is leveraged by an expected 10 percent increase in the hiring of those degree holders, the survey of 4,600 employers says.
"The market for new college grads took a positive step forward with this increase," said Phil Gardner, director of the university's Collegiate Employment Research Institute. But before letting the good news sink in, he warned students to remain vigilant, as the "jump is superficial and does not run deep." The reason: It's not the majority of employers hiring more, but rather a contingent of approximately 350 to 400 larger companies looking to fill positions and smaller, fast-growing businesses creating new ones. Thirty-two percent of respondents acknowledged definitive plans to hire graduates, representing a mild improvement over 27 percent last year, but 13 percent said they wouldn't. "There is so much uncertainty pervasive in the economy that employers are cautious to hire," Gardner said. "Much of the hiring activity has already taken place. Students who are just starting their job search are really going to have to work hard." Wayne Wallace, director of the University of Florida's Career Resource Center, agreed and said it's up to the students to land job offers.
"The job market is buyer-driven these days," he said. "Students need to be well-prepared and sincere in their job search efforts."
The hiring increase for bachelor's degree-level graduates can be attributed to increases from professional and scientific services, manufacturing, the federal government and large commercial banks, the report says. In contrast, interest in graduates with associate, master's and professional degrees like medical, law or veterinary is expected to fall, with the exception of Ph.D.- and MBA-level students. The report said that midsize companies with between 500 and 3,999 staffers may continue slashing positions, but larger ones plan to focus their hiring at the bachelor's degree level. Fast-growth companies with between nine and 100 employees could boost their workforce by as much as 19 percent. Illustrating that gaining professional experience before graduation is the ultimate pipeline toward full-time employment, 60 percent of respondents said they'll hire interns next year. Wallace said that students typically begin pursuing internships in their second and third years and that they can be particularly useful, "depending upon the employer track record for full-time job conversations and what a graduate expects from the opportunity." He added that on-campus interviewing appears to have improved over a "low point" last year, but that students should carefully weigh and be realistic about the logistics of any offer: hours, location, salary and overall expectations.
In more good news for students, the report found little difference between the number of graduates hired from four-year public institutions versus their private counterparts. Also, 36 percent of respondents said they won't necessarily limit positions to certain majors -- an all-time-high. Gardner, the university employment institute director, said some companies are taking a "just give me your best" approach, rather than weeding out qualified applicants who may not have graduated with a certain major. "Employers need the best talent they can find -- that means skills and abilities that combine to fit the organization," he said. "Major is not an important determinant in this equation." Graduates with bachelor's degrees in business, computer science and information technology have a better shot at employment than those with degrees in publishing, nursing, social services and health sciences, the report notes. A study released November 18 by the National Association of Colleges and Employers came to a similar conclusion.
The Job Outlook 2011 survey, an annual forecast of employer recruiting intentions, found that 62 percent of 172 respondents plan to hire graduates with bachelor's degrees in accounting, followed closely by finance, electrical engineering, mechanical engineering and business administration and management. But students who opted for other majors needn't worry: Wallace said employers consider strong communications skills, leadership qualities and teamwork history, too, when deciding whom to hire.
Andrew Katz, CNN
November 24, 2010
Wednesday, November 24, 2010
Tuesday, November 2, 2010
5 Great Tips for the Long Term Unemployed to help get a Great Job!
By: Roger Lear
The recession of the last two years has meant many insurance professionals have been laid off. Many people have been out of work for more than 6 months to over 2 years. While some received severance packages and all had extended unemployment benefits, getting the "next" job has been a challenge for many reasons leaving them without jobs.
GreatInsururanceJobs.com talked with many insurance employers and asked them how they would treat a resume of a long term unemployed applicant for an open job if they have resumes from others who are currently working. Almost all employers indicated that they would take each situation on a case by case basis. Most showed compassion for the unemployed and all indicated that in the end, they are trying to fill the position with the best possible candidate.
Complicating matters for many of the long term unemployed, they are applying to jobs that are well below their last job's salary and skill sets (Unemployed are willing to do anything to support their family). This is complicating the hiring process for companies because they fear if they hire someone below the salary level they had before they were laid off, they will leave when the economy rebounds. All employers when asked this question said they would still have to examine this on a case by case basis.
It is tough to find that next job if you have been out of work for a long time, but not impossible so please keep trying if you are out of work. We have assembled five tips based on what we have heard from employers as well as things anyone who has been out of work for more than six months and struggling to find a job should consider during their search.
1. Apply to jobs that are very close to your background. While this may sound obvious, many of you are applying to jobs that either you are not qualified for or over qualified. With employers getting an average of 150 resumes per posted jobs, unless your resume is clear and a match, you most likely will not hear a peep from the company (make sure your resume has keywords from the job ad to catch employers attention). Make sure your objective (on your resume) matches the job you are applying to as long as you have the experience. For example, if you were a commercial account manager at an insurance agency and you are applying for customer service representative position at an agency, make sure the objective at the top of your resume say "Commercial Customer Service Representative (CSR)". The reason to be so clear is not to make sure the person reviewing your resume is very clear that you have the correct skill sets.
2. Do not lie on your resume. This is the kiss of death. Employers can accept the fact that you have been out of work for over a year but will never hire you if they found out you have changed your employment dates. After a major recession, employers really do understand that very good people have been unemployed and they will consider you if you have the skill set for the job.
3. Be able to explain to an employer what you did during your lay off. Employers want to see if you volunteered, worked part time or took some classes. Employers are taking everything on a case by case basis so you better be prepared to tell them about your job search and your activities.
4. BE POSITIVE and don't be defensive about unemployment. You are going through a very difficult time and this may be the hardest thing to understand. Employers have compassion and really do understand that these are very hard times for you. Don't shoot yourself in the foot telling them your horror stories.
5. NETWORK, NETWORK, NETWORK. Sending one hundred resumes a week via your computer is not a job search in tough times. You must have a plan to meet with people in the numerous network meetings that take place in your city. Check the local chamber websites, Meetup.com and LinkedIn and Facebook company pages for jobs and events. Once at the event, when you introduce yourself, let them know what you do and that you are in career transition.
________________________________________
See Roger Lear, co-founder of GreatInsuranceJobs.com and OrlandoJobs.com, in action in a FOX exclusive interview talking about the top strategies for the long term unemployed. Click to watch: http://www.youtube.com/watch?v=HtTmqnnDQqU
The recession of the last two years has meant many insurance professionals have been laid off. Many people have been out of work for more than 6 months to over 2 years. While some received severance packages and all had extended unemployment benefits, getting the "next" job has been a challenge for many reasons leaving them without jobs.
GreatInsururanceJobs.com talked with many insurance employers and asked them how they would treat a resume of a long term unemployed applicant for an open job if they have resumes from others who are currently working. Almost all employers indicated that they would take each situation on a case by case basis. Most showed compassion for the unemployed and all indicated that in the end, they are trying to fill the position with the best possible candidate.
Complicating matters for many of the long term unemployed, they are applying to jobs that are well below their last job's salary and skill sets (Unemployed are willing to do anything to support their family). This is complicating the hiring process for companies because they fear if they hire someone below the salary level they had before they were laid off, they will leave when the economy rebounds. All employers when asked this question said they would still have to examine this on a case by case basis.
It is tough to find that next job if you have been out of work for a long time, but not impossible so please keep trying if you are out of work. We have assembled five tips based on what we have heard from employers as well as things anyone who has been out of work for more than six months and struggling to find a job should consider during their search.
1. Apply to jobs that are very close to your background. While this may sound obvious, many of you are applying to jobs that either you are not qualified for or over qualified. With employers getting an average of 150 resumes per posted jobs, unless your resume is clear and a match, you most likely will not hear a peep from the company (make sure your resume has keywords from the job ad to catch employers attention). Make sure your objective (on your resume) matches the job you are applying to as long as you have the experience. For example, if you were a commercial account manager at an insurance agency and you are applying for customer service representative position at an agency, make sure the objective at the top of your resume say "Commercial Customer Service Representative (CSR)". The reason to be so clear is not to make sure the person reviewing your resume is very clear that you have the correct skill sets.
2. Do not lie on your resume. This is the kiss of death. Employers can accept the fact that you have been out of work for over a year but will never hire you if they found out you have changed your employment dates. After a major recession, employers really do understand that very good people have been unemployed and they will consider you if you have the skill set for the job.
3. Be able to explain to an employer what you did during your lay off. Employers want to see if you volunteered, worked part time or took some classes. Employers are taking everything on a case by case basis so you better be prepared to tell them about your job search and your activities.
4. BE POSITIVE and don't be defensive about unemployment. You are going through a very difficult time and this may be the hardest thing to understand. Employers have compassion and really do understand that these are very hard times for you. Don't shoot yourself in the foot telling them your horror stories.
5. NETWORK, NETWORK, NETWORK. Sending one hundred resumes a week via your computer is not a job search in tough times. You must have a plan to meet with people in the numerous network meetings that take place in your city. Check the local chamber websites, Meetup.com and LinkedIn and Facebook company pages for jobs and events. Once at the event, when you introduce yourself, let them know what you do and that you are in career transition.
________________________________________
See Roger Lear, co-founder of GreatInsuranceJobs.com and OrlandoJobs.com, in action in a FOX exclusive interview talking about the top strategies for the long term unemployed. Click to watch: http://www.youtube.com/watch?v=HtTmqnnDQqU
Monday, October 25, 2010
Job Interview Follow-Up Do's and Don'ts
by Randall S. Hansen, Ph.D.
Remember that your work is not done once you finish the interview. You can't sit back and wait for the job offer, so consider these key rules and strategies for following-up your job interviews.
See this website for additional job related information: http://www.quintcareers.com/
Remember that your work is not done once you finish the interview. You can't sit back and wait for the job offer, so consider these key rules and strategies for following-up your job interviews.
- Do ask at the end of the interview when the employer expects to make the hiring decision.
- Do be proactive and consider follow-up a strategic part of your job search process. Follow-up can give you just the edge you need to get the job offer over others who interviewed for the position.
- Do use these follow-up techniques to continue to show your enthusiasm and desire for the position, but don't make it seem as though you are desperate.
- Do obtain the correct titles and names of all the people who interviewed you. (Ideally, do get each person's business card.)
- Do write individual thank you notes or letters to each person who interviewed you -- within two business days. Each letter can be essentially the same, but try to vary each a bit in case recipients compare notes. Don't ever fail to send a thank you -- even if you are sure the job is not for you. And do write thank you notes after every interview.
- Don't worry so much about hand-written versus typed thank you letters, but don't make a mistake by sending it through the wrong medium; make sure you know the best method of reaching the employer, whether by regular mail, email, or fax.
- In your thank you letter, do show appreciation for the employer's interest in you and do remind the employer about why you are the perfect person for the position. See some sample interview thank you letters.
- Don't ever have any errors (misspellings or typos) in your thank you letters.
- Do alert your references -- if you have not done so already -- that they may be getting a phone call from the employer.
- Don't stop job-hunting, even if you feel confident that you will get a job offer. Do continue to interview and attempt to find other opportunities.
- Do follow-up with a telephone call to the employer within a week to ten days (or sooner, if the employer had a shorter timetable) to ask about the position. And do continue to build rapport and sell your strengths during the phone call.
- Do be patient. The hiring process often takes longer than the employer expects.
- Do continue following-up, especially if the employer asks you to. Remember the adage about the squeaky wheel getting the oil. Just don't go overboard and annoy or bother the employer.
- Don't place too much importance on one job or one interview; there will be other opportunities for you.
- Do use other job offers as leverage in your follow-up -- to get the offer you really want.
- Don't burn any bridges if you do not get a job offer. And do try and turn the situation into a positive by bringing the interviewer(s) into your network, possibly even asking them for referrals to other contacts. Read more about the art of networking.
See this website for additional job related information: http://www.quintcareers.com/
Friday, October 15, 2010
Unfilled Openings Frustrate the Jobless
By MARK WHITEHOUSE , Associated Press
Job openings aren't what they used to be.
Among the explanations for the stubbornly high U.S. unemployment rate, factors such as housing troubles and extended unemployment benefits have played a leading role. Increasingly, though, economists and job seekers are identifying another problem: Employers are being pickier, or not trying as hard as they usually do to fill the openings they have.
The reasons for the foot-dragging are closely related to the reasons employers aren't creating many openings in the first place. Companies lack confidence about the outlook for consumer demand, they're not sure what the government will do with taxes and regulation, and they want to keep squeezing as much output from their current workers as they can. They also feel they have plenty of time to pick the best candidates.
"What we're seeing is delay, delay," says Jeff Joerres, chief executive of staffing firm Manpower Inc., noting that clients are taking a lot longer to fill positions, even when they've been presented with the right candidate. He says he expects the problem to persist at least through next year.
The slow uptake could actually be a good sign if it means unemployment is being held up more by a temporary lack of confidence than longer-term "structural" flaws such as improperly trained workers. "It means there is some reason to think there's an exit path from the weak labor market that doesn't require us to retrain the entire work force," says Steve Davis, a professor at the Chicago Booth School of Business.
So far, employers aren't showing much sign of the confidence needed to turn the job market around. The unemployment rate held steady at 9.6% in September, and hires are growing even slower than the low level of job openings would suggest. Economists estimate that if openings were turning into jobs at the pace they usually do, the unemployment rate would be about three percentage points lower.
Donald Washkewicz, chief executive of industrial-parts maker Parker Hannifin Corp., says his company is being careful about hiring ahead of the November congressional elections. Uncertainty over issues such as tax increases and environmental policy, he says, are aggravating concerns about the broader economy: "Anything's possible in November. Things could get better for business—or they could get worse."
Some companies complain that when they do try to hire, they have a hard time finding the right people. Extended unemployment benefits could make people less willing to take the jobs available, or mortgage troubles and poor credit scores could make it difficult for people to move for work.
But job seekers say some of the blame should be placed on the companies—either they're not trying very hard, or they're waiting for the perfect employee.
"I think a lot of companies are fishing," says Korey Stephens, a former mortgage-finance manager who has been looking for work since early 2007, while simultaneously training to update his computer skills. "They're just putting their feelers out, and if they find someone who's ridiculously awesome then maybe they'll hire them."
Mr. Stephens says he's spent more than a month chasing a banking job that a manager said needed to be filled quickly. On other occasions, he says, he's gone through interviews only to learn that the position had been canceled or frozen.
John Meline, a 39-year-old patent attorney who was laid off from a major law firm in October of last year, says he's seen some positions in his area of specialization advertised for as long as six months. When he sends in his resume, he gets no response despite his six years of applicable experience.
"It tells me that they're not really serious about filling the job, or they're going to be hyper-selective," he says. "They're just blowing us off."
A recent study by three economists—Mr. Davis of Chicago Booth, R. Jason Faberman of the Federal Reserve Bank of Philadelphia and John Haltiwanger of the University of Maryland—suggests the job seekers have a point. Using Labor Department data, the economists constructed an estimate of "recruiting intensity," which encompasses various factors that influence how fast employers fill open jobs, such as advertising, pay and the rigor of their screening process.
As of August, the recruiting intensity index stood 14% below the average for the seven years leading up to the recession. The economists estimate that the lack of intensity accounts for about a quarter of the shortfall in hires compared with openings.
At Leggett & Platt Inc., which makes metal parts for bedding and other purposes, Chief Executive David Haffner says his company remains hesitant about any kind of expansion, because it's not clear to what degree demand will snap back. But when it does hire, it's taking more time.
"With more experienced talent on the market in these challenging times, we are utilizing a more rigorous screening and interviewing protocol," says Mr. Haffner. "We feel it is crucial to add 'top graded' talent."
That could be good for companies and their shareholders. But it will mean a lot more frustration for the 14.8 million Americans looking for a job.
Job openings aren't what they used to be.
Among the explanations for the stubbornly high U.S. unemployment rate, factors such as housing troubles and extended unemployment benefits have played a leading role. Increasingly, though, economists and job seekers are identifying another problem: Employers are being pickier, or not trying as hard as they usually do to fill the openings they have.
The reasons for the foot-dragging are closely related to the reasons employers aren't creating many openings in the first place. Companies lack confidence about the outlook for consumer demand, they're not sure what the government will do with taxes and regulation, and they want to keep squeezing as much output from their current workers as they can. They also feel they have plenty of time to pick the best candidates.
"What we're seeing is delay, delay," says Jeff Joerres, chief executive of staffing firm Manpower Inc., noting that clients are taking a lot longer to fill positions, even when they've been presented with the right candidate. He says he expects the problem to persist at least through next year.
The slow uptake could actually be a good sign if it means unemployment is being held up more by a temporary lack of confidence than longer-term "structural" flaws such as improperly trained workers. "It means there is some reason to think there's an exit path from the weak labor market that doesn't require us to retrain the entire work force," says Steve Davis, a professor at the Chicago Booth School of Business.
So far, employers aren't showing much sign of the confidence needed to turn the job market around. The unemployment rate held steady at 9.6% in September, and hires are growing even slower than the low level of job openings would suggest. Economists estimate that if openings were turning into jobs at the pace they usually do, the unemployment rate would be about three percentage points lower.
Donald Washkewicz, chief executive of industrial-parts maker Parker Hannifin Corp., says his company is being careful about hiring ahead of the November congressional elections. Uncertainty over issues such as tax increases and environmental policy, he says, are aggravating concerns about the broader economy: "Anything's possible in November. Things could get better for business—or they could get worse."
Some companies complain that when they do try to hire, they have a hard time finding the right people. Extended unemployment benefits could make people less willing to take the jobs available, or mortgage troubles and poor credit scores could make it difficult for people to move for work.
But job seekers say some of the blame should be placed on the companies—either they're not trying very hard, or they're waiting for the perfect employee.
"I think a lot of companies are fishing," says Korey Stephens, a former mortgage-finance manager who has been looking for work since early 2007, while simultaneously training to update his computer skills. "They're just putting their feelers out, and if they find someone who's ridiculously awesome then maybe they'll hire them."
Mr. Stephens says he's spent more than a month chasing a banking job that a manager said needed to be filled quickly. On other occasions, he says, he's gone through interviews only to learn that the position had been canceled or frozen.
John Meline, a 39-year-old patent attorney who was laid off from a major law firm in October of last year, says he's seen some positions in his area of specialization advertised for as long as six months. When he sends in his resume, he gets no response despite his six years of applicable experience.
"It tells me that they're not really serious about filling the job, or they're going to be hyper-selective," he says. "They're just blowing us off."
A recent study by three economists—Mr. Davis of Chicago Booth, R. Jason Faberman of the Federal Reserve Bank of Philadelphia and John Haltiwanger of the University of Maryland—suggests the job seekers have a point. Using Labor Department data, the economists constructed an estimate of "recruiting intensity," which encompasses various factors that influence how fast employers fill open jobs, such as advertising, pay and the rigor of their screening process.
As of August, the recruiting intensity index stood 14% below the average for the seven years leading up to the recession. The economists estimate that the lack of intensity accounts for about a quarter of the shortfall in hires compared with openings.
At Leggett & Platt Inc., which makes metal parts for bedding and other purposes, Chief Executive David Haffner says his company remains hesitant about any kind of expansion, because it's not clear to what degree demand will snap back. But when it does hire, it's taking more time.
"With more experienced talent on the market in these challenging times, we are utilizing a more rigorous screening and interviewing protocol," says Mr. Haffner. "We feel it is crucial to add 'top graded' talent."
That could be good for companies and their shareholders. But it will mean a lot more frustration for the 14.8 million Americans looking for a job.
Sunday, October 3, 2010
How to Get Better Online Job Search Results
It can be tough to figure out the nuances of the online job search. With the option to search by keyword, location, industry, company or all of the above at once, it's hard to know which query will return the best search results for you.
In the absence of knowing the best method for getting targeted results, many people default to what they DO know about their job search: the title of the position they're looking for. While searching for "marketing assistant" or "pediatric nurse" may seem like a good way to get direct hits on the jobs you want, searching by job title actually eliminates a lot of positions that may be exactly what you're looking for.
Why? Because job titles often aren't standardized across different companies and industries. One company's software engineer is another's database programmer. The job descriptions might be exactly the same, but the positions may have different titles.
In order to get the largest number of relevant search results, try one of these methods instead.
1. Search by keyword
Instead of simply searching by a job title, develop a list of keywords that represent both the type of job you're looking for and the work you're qualified to do. The list should be comprised of functions you've performed at previous jobs, duties you'd like to perform at your next job, as well as relevant skills and experience.
For example, if you're looking for software engineering position, your keyword search terms may include:
•Software design
•Software languages
•Algorithms
•Linux
•.Net programming
•Network security
•Computer science
•Master's degree
Instead of searching the term "software engineer," use the terms above terms to find job results that match what you're looking for.
2. Combine keywords with Boolean search terms
While searching by keyword will bring up a broad range of search results, combining keywords to create a "Boolean search" will allow you to narrow down your results.
Though the term may sound complicated, Boolean search is actually a simple way to combine search terms in order to form strings of keywords. They're surprisingly easy to conduct once you understand the basics.
The basics:
•Put quotes around terms you want to keep together. For example "software languages." This will ensure that your results are returned with listings that contain this specific phrase, not just the words software and languages somewhere in the listing.
•Combine words using plus (+) and minus (-) signs.
◦For example, if you're searching for a job where you can put your Master's degree to good use while working on software languages, your search may be: "Master's degree" + "software languages."
◦However, if you prefer not to use the JAVA language, your search may look like: "Master's degree" + "software languages" - JAVA.
•To make your search even easier, Boolean searches also enable you to search root words. Meaning you won't have to conduct separate searches for "programmer" "programmers" and "programming." Instead, type in the root of the word, with an asterisk, to search all forms of the root word. For example, you might search "software language" + program*.
3. Try an advanced search
If you're not sure exactly what you're looking for, or you're interested in a job function, but not a specific industry (i.e. an administrative position in any sector), start with a broad search -- you can always narrow it down as you figure out what you want and don't want.
On CareerBuilder, for example, you can type in a general keyword, like "administrative" and then narrow it down through a variety of search categories. If you realize you'd prefer to work as an administrative assistant in a medical office or at a school, for example, you can specify this in the advanced search.
Similarly, if you are only interested in jobs that pay over $50,000, you can enter in your salary requirements as well.
The more fields you enter values for, the fewer, but more targeted, your search results will be.
Kaitlin Madden is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. She researches and writes about job search strategy, career management, hiring trends and workplace issues.
In the absence of knowing the best method for getting targeted results, many people default to what they DO know about their job search: the title of the position they're looking for. While searching for "marketing assistant" or "pediatric nurse" may seem like a good way to get direct hits on the jobs you want, searching by job title actually eliminates a lot of positions that may be exactly what you're looking for.
Why? Because job titles often aren't standardized across different companies and industries. One company's software engineer is another's database programmer. The job descriptions might be exactly the same, but the positions may have different titles.
In order to get the largest number of relevant search results, try one of these methods instead.
1. Search by keyword
Instead of simply searching by a job title, develop a list of keywords that represent both the type of job you're looking for and the work you're qualified to do. The list should be comprised of functions you've performed at previous jobs, duties you'd like to perform at your next job, as well as relevant skills and experience.
For example, if you're looking for software engineering position, your keyword search terms may include:
•Software design
•Software languages
•Algorithms
•Linux
•.Net programming
•Network security
•Computer science
•Master's degree
Instead of searching the term "software engineer," use the terms above terms to find job results that match what you're looking for.
2. Combine keywords with Boolean search terms
While searching by keyword will bring up a broad range of search results, combining keywords to create a "Boolean search" will allow you to narrow down your results.
Though the term may sound complicated, Boolean search is actually a simple way to combine search terms in order to form strings of keywords. They're surprisingly easy to conduct once you understand the basics.
The basics:
•Put quotes around terms you want to keep together. For example "software languages." This will ensure that your results are returned with listings that contain this specific phrase, not just the words software and languages somewhere in the listing.
•Combine words using plus (+) and minus (-) signs.
◦For example, if you're searching for a job where you can put your Master's degree to good use while working on software languages, your search may be: "Master's degree" + "software languages."
◦However, if you prefer not to use the JAVA language, your search may look like: "Master's degree" + "software languages" - JAVA.
•To make your search even easier, Boolean searches also enable you to search root words. Meaning you won't have to conduct separate searches for "programmer" "programmers" and "programming." Instead, type in the root of the word, with an asterisk, to search all forms of the root word. For example, you might search "software language" + program*.
3. Try an advanced search
If you're not sure exactly what you're looking for, or you're interested in a job function, but not a specific industry (i.e. an administrative position in any sector), start with a broad search -- you can always narrow it down as you figure out what you want and don't want.
On CareerBuilder, for example, you can type in a general keyword, like "administrative" and then narrow it down through a variety of search categories. If you realize you'd prefer to work as an administrative assistant in a medical office or at a school, for example, you can specify this in the advanced search.
Similarly, if you are only interested in jobs that pay over $50,000, you can enter in your salary requirements as well.
The more fields you enter values for, the fewer, but more targeted, your search results will be.
Kaitlin Madden is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. She researches and writes about job search strategy, career management, hiring trends and workplace issues.
Monday, September 6, 2010
Learning From Rejection: The Questions to Ask When You Don’t Get The Job
By Kaitlin Madden on May 28, 2010 in Career Advice, Featured, Interviews
When you got cut from your high school chess team, you asked your mom if you could transfer schools.
When you thought that you and that awesome guy were more than just friends — and thought wrong, you spent the next three days in your pajamas.
When you went on an awesome interview, but the job went to another candidate, you vowed to learn the pots and pans and spend the rest of your life as a street performer.
We’ve all been there.
Rejection is just one of those things that, no matter how many times it happens in life, it never gets any easier. However, it doesn’t always have to result in self-loathing and days spent moping around in your pjs. In fact, John Kador, author of “301 Best Questions to Ask on Your Interview,” dedicates an entire chapter of his book to rejection, and how it can actually have a positive effect on your job search — if you take advantage of it by finding out why you didn’t get the job.
True, it may seem like adding salt to your wound to reach out to the refusing employer and ask “What’s so wrong with me?” However, doing so can also be one of the most rewarding ways to handle a rejection, since any constructive feedback you receive can be applied to your future job search.
Also true, is that positively handling rejection is a lot easier said than done, so below are the top tips for following up with a company that has turned you down, adapted from Kador’s “301 Best Questions to Ask On Your Interview.”
1. Figure out where the recruiter was coming from
Sometimes, you will have a hunch as to why you were rejected. Maybe you were under- qualified, or maybe you set your salary expectations too high. But on those occasions where you were completely blindsided by the rejection, understanding it will take some further investigation.
Usually, this involves contacting the recruiter. Start by sending a simple note. Something like:
“Thank you again for interviewing me. I understand your decision to go with another candidate and I accept your decision. I’d appreciate any feedback you can give me.”
Sometimes, this will be enough to get you a constructive dose of honesty. However, HR departments are often apprehensive to give straightforward feedback these days, due to a fear of lawsuits. But, that doesn’t mean you should just accept their generic response saying “You were great, but the other candidate was better.”
2. Cut to the point
To increase your odds of getting true, useful criticism, take your query one step further, by following up with something along the lines of:
“I need to improve my interviewing skills and I’m asking for your help. I am asking you to be honest about my performance and what I could have done better. If you do, I will make you three promises. First, I promise I will not interrupt you. Second, I promise I will not defend myself. Third, I promise I will not contact you or your company for a year. Will you help me?”
This approach lets the HR rep know that you have no interest in hounding them or pleading your case, and are genuinely interested in honest feedback. It should also help ease the recruiter’s fear of getting in trouble.
When using this approach, though, be ready to keep your promises or risk putting your reputation with the company — and possibly the industry — on the line.
3. Be gracious
If directly asking the recruiter for interview feedback still seems too intimidating, at least send a thank-you note. Many interviewees discontinue professional niceties when they don’t get the job, but genuinely thanking the interviewer for their time makes a good final impression. If possible, prove your gratitude by:
Recommending another good candidate for the position
Offering a sales lead
Including a link to an article, website or job-board you think the recruiter would find useful
Asking if there is anything else you can do for the recruiter or the company
Simple gestures like the ones above will make you stand out to the recruiter, who will be more apt to keep you in mind for future jobs at the company.
Hopefully, you won’t face too much (if any) rejection during your job search, but if you do, the above guidelines will help turn a negative response into a learning experience. Be sure to personalize these steps based on your individual interview situation and what you feel comfortable with. If you don’t think you can handle hearing a less-than-glowing review from a recruiter without interrupting, you may want to skip step No. 2. For more suggestions on what to ask before, during and after an interview, check out “301 Best Questions to Ask on Your Interview.”
When you got cut from your high school chess team, you asked your mom if you could transfer schools.
When you thought that you and that awesome guy were more than just friends — and thought wrong, you spent the next three days in your pajamas.
When you went on an awesome interview, but the job went to another candidate, you vowed to learn the pots and pans and spend the rest of your life as a street performer.
We’ve all been there.
Rejection is just one of those things that, no matter how many times it happens in life, it never gets any easier. However, it doesn’t always have to result in self-loathing and days spent moping around in your pjs. In fact, John Kador, author of “301 Best Questions to Ask on Your Interview,” dedicates an entire chapter of his book to rejection, and how it can actually have a positive effect on your job search — if you take advantage of it by finding out why you didn’t get the job.
True, it may seem like adding salt to your wound to reach out to the refusing employer and ask “What’s so wrong with me?” However, doing so can also be one of the most rewarding ways to handle a rejection, since any constructive feedback you receive can be applied to your future job search.
Also true, is that positively handling rejection is a lot easier said than done, so below are the top tips for following up with a company that has turned you down, adapted from Kador’s “301 Best Questions to Ask On Your Interview.”
1. Figure out where the recruiter was coming from
Sometimes, you will have a hunch as to why you were rejected. Maybe you were under- qualified, or maybe you set your salary expectations too high. But on those occasions where you were completely blindsided by the rejection, understanding it will take some further investigation.
Usually, this involves contacting the recruiter. Start by sending a simple note. Something like:
“Thank you again for interviewing me. I understand your decision to go with another candidate and I accept your decision. I’d appreciate any feedback you can give me.”
Sometimes, this will be enough to get you a constructive dose of honesty. However, HR departments are often apprehensive to give straightforward feedback these days, due to a fear of lawsuits. But, that doesn’t mean you should just accept their generic response saying “You were great, but the other candidate was better.”
2. Cut to the point
To increase your odds of getting true, useful criticism, take your query one step further, by following up with something along the lines of:
“I need to improve my interviewing skills and I’m asking for your help. I am asking you to be honest about my performance and what I could have done better. If you do, I will make you three promises. First, I promise I will not interrupt you. Second, I promise I will not defend myself. Third, I promise I will not contact you or your company for a year. Will you help me?”
This approach lets the HR rep know that you have no interest in hounding them or pleading your case, and are genuinely interested in honest feedback. It should also help ease the recruiter’s fear of getting in trouble.
When using this approach, though, be ready to keep your promises or risk putting your reputation with the company — and possibly the industry — on the line.
3. Be gracious
If directly asking the recruiter for interview feedback still seems too intimidating, at least send a thank-you note. Many interviewees discontinue professional niceties when they don’t get the job, but genuinely thanking the interviewer for their time makes a good final impression. If possible, prove your gratitude by:
Recommending another good candidate for the position
Offering a sales lead
Including a link to an article, website or job-board you think the recruiter would find useful
Asking if there is anything else you can do for the recruiter or the company
Simple gestures like the ones above will make you stand out to the recruiter, who will be more apt to keep you in mind for future jobs at the company.
Hopefully, you won’t face too much (if any) rejection during your job search, but if you do, the above guidelines will help turn a negative response into a learning experience. Be sure to personalize these steps based on your individual interview situation and what you feel comfortable with. If you don’t think you can handle hearing a less-than-glowing review from a recruiter without interrupting, you may want to skip step No. 2. For more suggestions on what to ask before, during and after an interview, check out “301 Best Questions to Ask on Your Interview.”
Wednesday, August 25, 2010
Want a Loan? A Sale? A Job?
When Brad Newman introduced himself as an actrepreneur, I was hooked. Everything about his title told me he had information I wanted to hear. Over a few additional seconds, I learned that this actor and entrepreneur is the founder of Zentainment, "a socially conscious media company committed to growing brands that encourage you to dream big and live a sustainable life." From there, a longer conversation and a business relationship followed, all spurred by an attention-getting introduction that took just moments to deliver.
The elevator pitch rides into the speed-dating era
Today's economic environment has turned job fairs, trade shows, networking events and even sidewalk sales into buyers' markets where only those with quick, compelling pitches survive.
In the 1990s, high-tech entrepreneurs named these short spiels "elevator pitches" because they could be conveyed during an elevator ride. The tech bubble ballooned and burst (and ballooned again), but elevator pitches are here to stay. Everyone whether seeking employment, sales or profitable business associations needs one.
Is your introduction ready to roll?
"So, what do you do?"
Those five words are on the minds of everyone you meet, whether in person or online. Brad Newman's introduction helps provide a formula that can assist you in preparing your answer and attracting attention from those you aim to impress:
Describe yourself in five words or less. Use a distinctive title or phrase that makes people think, "This sounds interesting" or "This is what I'm looking for." Consider the difference between "I'm a copywriter" and "I turn browsers into buyers." Or, in Newman's case, between "social media entrepreneur" and "actrepreneur."
Explain what you do in one sentence. After introducing yourself, introduce your offerings. "Our name combines the words Zen and entertainment, which stakes out our media space," Newman says. "We're a media company that focuses on socially conscious content. That definition tells what Zentainment is and rules out what it isn't." Work on a similarly specific description for your business.
Define your target audience. "Our market is comprised of 30- to 49-year-olds who care about socially conscious living," Newman says. "By defining our market in that way, people immediately know whether our business is for them." In other words, Zentainment isn't trying to be all things to all people. It's focused on a specific target audience, which is a key to success in today's crowded business environment.
Communicate your vision. "We're committed to growing brands that encourage you to dream big and live a sustainable life, whether they're our own brands or ones for which we consult and serve as producers," Newman says. "Our vision is clear enough to keep us focused and broad enough to make us adaptive to the opportunities of a changing market and media world." It's also compelling enough to attract a growing contingent of Zentainment consumers and business clients. What does your business stand for? What attracts your customers and their loyalty? Your answers can serve as a magnet for growth.
Practice, practice, practice. Create a script that conveys who you are, what you offer, your market, and the distinctive benefits you provide. Edit until you can introduce yourself and your business in less than a minute, which is how long most prospects will give you to win their interest.
Shrink your introduction even further so you can tell your story in 20 words or less. That's how much space you have in most marketing materials and online presentations, whether on your own site, on social media sites, or on sites that link to your home page. If you're thinking, "Twenty words? You've got to be kidding," scroll back to the start of this column. That's exactly what Brad Newman used to get my interest.
Barbara Findlay Schenck is a small-business strategist, the author of “Small Business Marketing for Dummies” and the co-author of “Branding for Dummies,” “Selling Your Business for Dummies” and “Business Plans Kit for Dummies.”
The elevator pitch rides into the speed-dating era
Today's economic environment has turned job fairs, trade shows, networking events and even sidewalk sales into buyers' markets where only those with quick, compelling pitches survive.
In the 1990s, high-tech entrepreneurs named these short spiels "elevator pitches" because they could be conveyed during an elevator ride. The tech bubble ballooned and burst (and ballooned again), but elevator pitches are here to stay. Everyone whether seeking employment, sales or profitable business associations needs one.
Is your introduction ready to roll?
"So, what do you do?"
Those five words are on the minds of everyone you meet, whether in person or online. Brad Newman's introduction helps provide a formula that can assist you in preparing your answer and attracting attention from those you aim to impress:
Describe yourself in five words or less. Use a distinctive title or phrase that makes people think, "This sounds interesting" or "This is what I'm looking for." Consider the difference between "I'm a copywriter" and "I turn browsers into buyers." Or, in Newman's case, between "social media entrepreneur" and "actrepreneur."
Explain what you do in one sentence. After introducing yourself, introduce your offerings. "Our name combines the words Zen and entertainment, which stakes out our media space," Newman says. "We're a media company that focuses on socially conscious content. That definition tells what Zentainment is and rules out what it isn't." Work on a similarly specific description for your business.
Define your target audience. "Our market is comprised of 30- to 49-year-olds who care about socially conscious living," Newman says. "By defining our market in that way, people immediately know whether our business is for them." In other words, Zentainment isn't trying to be all things to all people. It's focused on a specific target audience, which is a key to success in today's crowded business environment.
Communicate your vision. "We're committed to growing brands that encourage you to dream big and live a sustainable life, whether they're our own brands or ones for which we consult and serve as producers," Newman says. "Our vision is clear enough to keep us focused and broad enough to make us adaptive to the opportunities of a changing market and media world." It's also compelling enough to attract a growing contingent of Zentainment consumers and business clients. What does your business stand for? What attracts your customers and their loyalty? Your answers can serve as a magnet for growth.
Practice, practice, practice. Create a script that conveys who you are, what you offer, your market, and the distinctive benefits you provide. Edit until you can introduce yourself and your business in less than a minute, which is how long most prospects will give you to win their interest.
Shrink your introduction even further so you can tell your story in 20 words or less. That's how much space you have in most marketing materials and online presentations, whether on your own site, on social media sites, or on sites that link to your home page. If you're thinking, "Twenty words? You've got to be kidding," scroll back to the start of this column. That's exactly what Brad Newman used to get my interest.
Barbara Findlay Schenck is a small-business strategist, the author of “Small Business Marketing for Dummies” and the co-author of “Branding for Dummies,” “Selling Your Business for Dummies” and “Business Plans Kit for Dummies.”
Wednesday, August 18, 2010
Keep your chin up
How to stay positive during a long job search
By Dawn Rosenberg McKay, About.com Guide
Losing your job can be devastating. You have to deal with loss of income, loss of health insurance, and the feeling of rejection. Of course if you find a job quickly those feelings may all be alleviated. However, in a tough job market, finding a job can be difficult. Extremely talented people can be out of work for months at a time. Hopefully a combination of your severance package, unemployment insurance, and your savings will sustain you financially. COBRA (The Consolidated Omnibus Budget Reconciliation Act) will help you continue your health insurance for a while. The Health Insurance Portability and Accountability Act (HIPAA) will help you continue your health insurance if your insurance from your employer expires before you find a new job.
The hardest part of being out of work for an extended period of time will be keeping a positive attitude when a job search turns from weeks into months. And it's imperative that you keep a positive attitude, both for your own emotional well-being as well as for the impression you give to potential employers. Here are some things you can do to keep your chin up when your job search seems to be heading downhill fast.
• While you should spend a respectable amount of time on your job search, you should take time away from it too. Find something you enjoy doing and spend a few hours a week doing it.
• Take the time to do things you don't have time to do while you're working, i.e. spending time with your children during the week instead of only on weekends.
• Take on household chores you didn't have time for when you were employed.
• Volunteer. Find a project that can use your skills and talents and spend some time on it. Just be sure not to abandon it entirely when you find a job.
• Learn a new skill. There are some free online courses available as well as low cost courses available through continuing education in your community.
• Go to a movie matinee. The crowds are much smaller and the prices are usually lower.
• Join a job hunting support group like the ones listed on the Riley Guide. Share your experiences with others in the same situation and network.
• Meet friends for lunch.
• Take long walks.
• Read: Borrow books from your public library.
By Dawn Rosenberg McKay, About.com Guide
Losing your job can be devastating. You have to deal with loss of income, loss of health insurance, and the feeling of rejection. Of course if you find a job quickly those feelings may all be alleviated. However, in a tough job market, finding a job can be difficult. Extremely talented people can be out of work for months at a time. Hopefully a combination of your severance package, unemployment insurance, and your savings will sustain you financially. COBRA (The Consolidated Omnibus Budget Reconciliation Act) will help you continue your health insurance for a while. The Health Insurance Portability and Accountability Act (HIPAA) will help you continue your health insurance if your insurance from your employer expires before you find a new job.
The hardest part of being out of work for an extended period of time will be keeping a positive attitude when a job search turns from weeks into months. And it's imperative that you keep a positive attitude, both for your own emotional well-being as well as for the impression you give to potential employers. Here are some things you can do to keep your chin up when your job search seems to be heading downhill fast.
• While you should spend a respectable amount of time on your job search, you should take time away from it too. Find something you enjoy doing and spend a few hours a week doing it.
• Take the time to do things you don't have time to do while you're working, i.e. spending time with your children during the week instead of only on weekends.
• Take on household chores you didn't have time for when you were employed.
• Volunteer. Find a project that can use your skills and talents and spend some time on it. Just be sure not to abandon it entirely when you find a job.
• Learn a new skill. There are some free online courses available as well as low cost courses available through continuing education in your community.
• Go to a movie matinee. The crowds are much smaller and the prices are usually lower.
• Join a job hunting support group like the ones listed on the Riley Guide. Share your experiences with others in the same situation and network.
• Meet friends for lunch.
• Take long walks.
• Read: Borrow books from your public library.
Friday, August 6, 2010
Companies hire at slow pace for third straight month
Private employers added just 71,000 workers in July
Lynne Sladky / AP
Joseph Oeler Jr., 35, of Hollywood, Fla. waits in line at a job fair sponsored by National Career Fairs in Dania Beach, Fla. Employment fell for a second straight month in July as more temporary census jobs ended and private hiring rose less than expected, pointing to an anemic recovery.
WASHINGTON — Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year.
Private employers added a net total of only 71,000 jobs last month, according to the Labor Department's July report Friday. That number was far below the roughly 200,000 needed each month to reduce the unemployment rate. The unemployment rate for July was unchanged at 9.5 percent.
The modest job gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in the net gain was only 12,000 jobs.
“The good news here is we are not falling off a cliff; we are getting job growth,” Mark Zandi, chief economist at Moody’s Economy.com, told CNBC Friday. “But obviously this is not enough. If we don’t see better job growth later this year and next the recovery is in jeopardy.”
Speaking on the July jobs report following a tour Friday of Gelberg Signs, a small business in Washington, D.C., President Barack Obama emphasized the significance of the private sector job growth last month. Jobs in the private sector have grown in each of the past seven months instead of declining as they did in the first seven months of 2009, he noted.
“That’s a good sign,” Obama said, adding that the U.S. economy is emerging from the most serious downturn since the Great Depression. “Climbing out of any recession takes some time,” he said. “The road of recovery is not a straight line.”
Still, progress “needs to come faster,” Obama said, and he called on Congress to take more steps to help businesses.
In its July jobs report the government sharply revised down its jobs figures for June, saying businesses hired fewer workers than previously estimated. June's private-sector job gains were lowered to 31,000 from 83,000. May's were raised slightly to show 51,000 net new jobs, from 33,000.
Overall, the economy lost a net total of 131,000 jobs last month, mostly because 143,000 temporary census jobs ended.
The slow pace of hiring will weigh on the recovery, he said, with economic growth in the current quarter likely to come in even lower than the April-to-June quarter's already weak 2.4 percent.
The "underemployment" rate was the same as in June, at 16.5 percent. That includes those working part time who would prefer full-time work and unemployed workers who've given up on their job hunts.
All told, there were 14.6 million people looking for work in July. That's roughly double the figure in December 2007, when the recession began.
Even if hiring picks up, it will take years to regain all the jobs lost during the recession. The economy lost 8.4 million jobs in 2008 and 2009. This year, private employers have added only 559,000 new hires.
Friday's report is being closely watched by the Federal Reserve as it considers ways to energize the recovery. The report could persuade the Fed to take new steps to boost the economy and keep interest rates at record lows when it meets next week.
Without more jobs, consumers won't see the gains in income needed to encourage them to spend more and support economic activity. Even those with jobs may not feel confident enough to ramp up their spending.
That's important because many of the trends driving economic growth earlier in the recovery are fading. Companies boosted production in the winter and spring to rebuild inventories that were depleted in the recession. But that boost won't last much longer. And the impact of the federal government's stimulus package is also declining.
The economy grew at 5 percent in the fourth quarter last year and 3.7 percent in the first three months of 2010. But that slowed to 2.4 percent in the April-June period. That's not fast enough to generate many jobs and reduce the unemployment rate.
Many companies appear to be getting more out of their current employees rather than adding new staff. The average work week increased by one-tenth of an hour to 34.2 hours, the department said. That's up from about 33 hours in the depths of the recession.
Average hourly pay also rose 4 cents to $22.59, up 1.8 percent from a year earlier. That, along with the increase in hours worked, could provide some boost to spending.
The number of temporary jobs fell by 5,600, the first drop after nine months of gains.
Employers usually hire temp workers if they need more output but don't want to hire permanent employees. But "firms aren't even adding temporary workers right now," Gault said.
Manufacturers added 36,000 jobs in July, slightly above its monthly average this year. Those gains were aided by General Motor's decision to keep its plants running last month. Usually it closes them and temporarily lays off employees to retool for the new model year.
Construction firms cut jobs for the third straight month, losing 11,000, while financial firms shed 17,000 workers.
But retailers added 6,700 jobs. And the leisure and hospitality industry hired 6,000 additional staffers.
Corporate net income rose sharply in the second quarter, but businesses aren't yet using the proceeds to ramp up hiring. Companies in the S&P 500 index reported a 46 percent increase in net income for the April-to-June period, compared to a year earlier.
But many employers are uncertain about the direction of the economy. Some are concerned sales will slow once government stimulus and other temporary factors fade. Others fear what will happen if federal income taxes are allowed to rise next year as tax cuts enacted by President George W. Bush expire. "People have a long worry list they're looking at," said Ethan Harris, chief economist at Bank of America Merrill Lynch.
Some companies are adding permanent workers. The hospital chain HCA Inc. has 8,300 open positions, company spokesman Ed Fishbough said. That includes nurses, physicians and information technology professionals needed to build HCA's ability to handle electronic medical records. HCA employs about 190,000 people.
But layoffs are also continuing. FBR Capital Markets, an investment bank based in Arlington, Va., cut its work force by about 15 percent in early July to about 500 employees, saying it needed to reduce costs.
The Associated Press and Reuters contributed to this report.
Lynne Sladky / AP
Joseph Oeler Jr., 35, of Hollywood, Fla. waits in line at a job fair sponsored by National Career Fairs in Dania Beach, Fla. Employment fell for a second straight month in July as more temporary census jobs ended and private hiring rose less than expected, pointing to an anemic recovery.
WASHINGTON — Companies showed a lack of confidence about hiring for a third straight month in July, making it likely the economy will grow more slowly the rest of the year.
Private employers added a net total of only 71,000 jobs last month, according to the Labor Department's July report Friday. That number was far below the roughly 200,000 needed each month to reduce the unemployment rate. The unemployment rate for July was unchanged at 9.5 percent.
The modest job gains were even weaker when considering a loss of government jobs at the local, state and federal levels in July that weren't temporary census positions. Factoring those in the net gain was only 12,000 jobs.
“The good news here is we are not falling off a cliff; we are getting job growth,” Mark Zandi, chief economist at Moody’s Economy.com, told CNBC Friday. “But obviously this is not enough. If we don’t see better job growth later this year and next the recovery is in jeopardy.”
Speaking on the July jobs report following a tour Friday of Gelberg Signs, a small business in Washington, D.C., President Barack Obama emphasized the significance of the private sector job growth last month. Jobs in the private sector have grown in each of the past seven months instead of declining as they did in the first seven months of 2009, he noted.
“That’s a good sign,” Obama said, adding that the U.S. economy is emerging from the most serious downturn since the Great Depression. “Climbing out of any recession takes some time,” he said. “The road of recovery is not a straight line.”
Still, progress “needs to come faster,” Obama said, and he called on Congress to take more steps to help businesses.
In its July jobs report the government sharply revised down its jobs figures for June, saying businesses hired fewer workers than previously estimated. June's private-sector job gains were lowered to 31,000 from 83,000. May's were raised slightly to show 51,000 net new jobs, from 33,000.
Overall, the economy lost a net total of 131,000 jobs last month, mostly because 143,000 temporary census jobs ended.
The slow pace of hiring will weigh on the recovery, he said, with economic growth in the current quarter likely to come in even lower than the April-to-June quarter's already weak 2.4 percent.
The "underemployment" rate was the same as in June, at 16.5 percent. That includes those working part time who would prefer full-time work and unemployed workers who've given up on their job hunts.
All told, there were 14.6 million people looking for work in July. That's roughly double the figure in December 2007, when the recession began.
Even if hiring picks up, it will take years to regain all the jobs lost during the recession. The economy lost 8.4 million jobs in 2008 and 2009. This year, private employers have added only 559,000 new hires.
Friday's report is being closely watched by the Federal Reserve as it considers ways to energize the recovery. The report could persuade the Fed to take new steps to boost the economy and keep interest rates at record lows when it meets next week.
Without more jobs, consumers won't see the gains in income needed to encourage them to spend more and support economic activity. Even those with jobs may not feel confident enough to ramp up their spending.
That's important because many of the trends driving economic growth earlier in the recovery are fading. Companies boosted production in the winter and spring to rebuild inventories that were depleted in the recession. But that boost won't last much longer. And the impact of the federal government's stimulus package is also declining.
The economy grew at 5 percent in the fourth quarter last year and 3.7 percent in the first three months of 2010. But that slowed to 2.4 percent in the April-June period. That's not fast enough to generate many jobs and reduce the unemployment rate.
Many companies appear to be getting more out of their current employees rather than adding new staff. The average work week increased by one-tenth of an hour to 34.2 hours, the department said. That's up from about 33 hours in the depths of the recession.
Average hourly pay also rose 4 cents to $22.59, up 1.8 percent from a year earlier. That, along with the increase in hours worked, could provide some boost to spending.
The number of temporary jobs fell by 5,600, the first drop after nine months of gains.
Employers usually hire temp workers if they need more output but don't want to hire permanent employees. But "firms aren't even adding temporary workers right now," Gault said.
Manufacturers added 36,000 jobs in July, slightly above its monthly average this year. Those gains were aided by General Motor's decision to keep its plants running last month. Usually it closes them and temporarily lays off employees to retool for the new model year.
Construction firms cut jobs for the third straight month, losing 11,000, while financial firms shed 17,000 workers.
But retailers added 6,700 jobs. And the leisure and hospitality industry hired 6,000 additional staffers.
Corporate net income rose sharply in the second quarter, but businesses aren't yet using the proceeds to ramp up hiring. Companies in the S&P 500 index reported a 46 percent increase in net income for the April-to-June period, compared to a year earlier.
But many employers are uncertain about the direction of the economy. Some are concerned sales will slow once government stimulus and other temporary factors fade. Others fear what will happen if federal income taxes are allowed to rise next year as tax cuts enacted by President George W. Bush expire. "People have a long worry list they're looking at," said Ethan Harris, chief economist at Bank of America Merrill Lynch.
Some companies are adding permanent workers. The hospital chain HCA Inc. has 8,300 open positions, company spokesman Ed Fishbough said. That includes nurses, physicians and information technology professionals needed to build HCA's ability to handle electronic medical records. HCA employs about 190,000 people.
But layoffs are also continuing. FBR Capital Markets, an investment bank based in Arlington, Va., cut its work force by about 15 percent in early July to about 500 employees, saying it needed to reduce costs.
The Associated Press and Reuters contributed to this report.
Friday, July 30, 2010
Recovery in jeopardy without upturn in job, housing markets
Slowing economy faces major hurdles
by John W. Schoen Senior producer
msnbc.com
As the engine of U.S. economic growth slows, two of its main cylinders — job growth and consumer spending — still aren't firing. Until they kick in, the sluggish recovery will remain in jeopardy.
After a surge in growth late last year fueled by massive government spending, the economic recovery has been losing momentum. On Friday, the Commerce Department reported that Gross Domestic Product, the value of all goods and services produced in the U.S. rose by 2.4 percent in the second quarter .
That’s down from a revised 3.7 percent growth rate in the first three months of the year, and less than the 3 percent growth many economists had been forecasting just a few weeks ago.
Other data point to signs that growth slowed toward the end of the April-June quarter. Housing sales tanked after a government tax credit expired in April, and the job market weakened in June after showing signs of strength earlier in the year. That has many forecasters further ratcheting down expectations for the second half of the year.
“With stimulus spending winding down … it looks like expectations for the third quarter will be reduced,” said Mark Vitner, senior economist at Wells Fargo Securities. “It looks like most folks will be coming in with a forecast for GDP in the current quarter that is under two percent."
Vitner said that would put the economy close to a double-dip recession, in which growth slips back into negative territory after a couple of quarters of expansion.
The hope has been that as the impact fades from the government's $862 billion package of tax cuts and increased public spending, that massive stimulus will carry over to the rest of the economy. Friday’s report offered some optimistic signs that may be happening.
Business investment up
Investment in plant and equipment by businesses picked up by 17 percent in the second quarter, boosted by heavy spending on new equipment and software. Businesses have also reported strong profit growth for the quarter, as heavy cost-cutting sends more money to the bottom line. That kind of gradual improvement could lay the groundwork for a sustainable recovery.
"The longer that we heal, the more likely it is that we'll continue to heal and start to see more robust growth maybe in 2011,"said James Paulsen, chief strategist at Wells Capital Management.
But that won’t happen until businesses move from cost-cutting to hiring. Until millions of new jobs are created to replace the more than 8 million paychecks lost to the recession, consumers won’t be able to restore spending to levels that will keep the economy growing.
“We’re in a classic chicken and egg situation,” said Ed Keon, a portfolio manager at Quantitative Managing Associates. “You need to get a firmer labor market — when companies are hiring and putting some their cash to work — in order to increase consumer confidence. But business people need to see demand before they can go crazy about expanding and hiring more people.”
For the moment, consumers don’t appear to be feeling better about the outlook. Friday’s GDP report showed consumer spending grew by 1.6 percent in the second quarter, down from 1.9 percent in the first quarter.
"Overall, the survey data suggest that the current slowdown in spending is likely going to persist well into 2011," said Richard Curtin, director of the surveys.
Housing mired
Other sectors of the economy have yet to show increased momentum from the government’s stimulus spending. Despite two rounds of a generous home buyer tax credit, the housing industry, which typically leads economic recoveries, remains mired at low levels of demand not seen in decades. Persistently low mortgage rates have also failed to spur the kind of pickup in home sales seen in past economic recoveries.
The financial collapse that caused the recession has also left an aftermath that is not typically seen in most recoveries. Homeowners are still struggling to pay down debt and make up for heavy losses in home equity suffered when the housing bubble burst. Prices in many parts of the country are still falling.
Businesses, uncertain about where the economy is headed, are hoarding cash. Despite an unprecedented Federal Reserve policy holding interest rates near zero, credit is tight.
“The fundamental picture of the economy is quite different than any other business cycle,” said David Ressler, chief economist at Nomura Securities. “We're not going to see a snapback in many sectors; housing is going to crawl back.”
The risk that businesses and consumers most fear is that the economy slides back into recession again, sending unemployment higher and profits lower. So far, most forecasters say the odds of that happening are less than 50-50.
Growth forecasts
Some two-thirds of economists surveyed last month by the National Association of Business Economists said they expect the overall growth rate will top 2 percent in 2010. A separate survey of private economists by Blue Chip Economic Indicators came up with a consensus forecast of 3.1 percent growth in 2011.
But the extraordinary causes of this recession bring extraordinary risks that go beyond the possible double-dip scenario. One of the most disturbing was outlined this week in a paper by James Bullard, president of the St. Louis Fed.
With inflation barely visible in the past few months data, Bullard warned the dangers of deflation — when prices tumble either because of a collapse of spending, a decline in the money supply, or both — pushing the U.S. economy into the kind of long-term, downward price spiral that has plagued Japan for more than a decade.
So far, the weak economy has produced the kind of low levels of inflation that the textbooks predict. The risk, Bullard argues, is that the policy the Federal Reserve has been using — targeting low interest rates to stimulate growth — could be steering the central bank toward the very deflation cycle that policymakers are hoping to avoid.
Bullard suggests that the central bank consider returning to a policy known as “quantitative easing” involving massive purchases of government debt to pump more cash into the economy to try to reflate the economy.
In an interview with CNBC Friday, Bullard stressed that he doesn’t see signs yet that deflation is taking hold.
“If the economy continues to recover in the second half of the year and we're growing really rapidly, then this will all go away and we'll all forget about it,” he said. “But that's not the nature of contingency planning. You have to be ready for the opposite case.”
© 2010 msnbc.com Reprints
by John W. Schoen Senior producer
msnbc.com
As the engine of U.S. economic growth slows, two of its main cylinders — job growth and consumer spending — still aren't firing. Until they kick in, the sluggish recovery will remain in jeopardy.
After a surge in growth late last year fueled by massive government spending, the economic recovery has been losing momentum. On Friday, the Commerce Department reported that Gross Domestic Product, the value of all goods and services produced in the U.S. rose by 2.4 percent in the second quarter .
That’s down from a revised 3.7 percent growth rate in the first three months of the year, and less than the 3 percent growth many economists had been forecasting just a few weeks ago.
Other data point to signs that growth slowed toward the end of the April-June quarter. Housing sales tanked after a government tax credit expired in April, and the job market weakened in June after showing signs of strength earlier in the year. That has many forecasters further ratcheting down expectations for the second half of the year.
“With stimulus spending winding down … it looks like expectations for the third quarter will be reduced,” said Mark Vitner, senior economist at Wells Fargo Securities. “It looks like most folks will be coming in with a forecast for GDP in the current quarter that is under two percent."
Vitner said that would put the economy close to a double-dip recession, in which growth slips back into negative territory after a couple of quarters of expansion.
The hope has been that as the impact fades from the government's $862 billion package of tax cuts and increased public spending, that massive stimulus will carry over to the rest of the economy. Friday’s report offered some optimistic signs that may be happening.
Business investment up
Investment in plant and equipment by businesses picked up by 17 percent in the second quarter, boosted by heavy spending on new equipment and software. Businesses have also reported strong profit growth for the quarter, as heavy cost-cutting sends more money to the bottom line. That kind of gradual improvement could lay the groundwork for a sustainable recovery.
"The longer that we heal, the more likely it is that we'll continue to heal and start to see more robust growth maybe in 2011,"said James Paulsen, chief strategist at Wells Capital Management.
But that won’t happen until businesses move from cost-cutting to hiring. Until millions of new jobs are created to replace the more than 8 million paychecks lost to the recession, consumers won’t be able to restore spending to levels that will keep the economy growing.
“We’re in a classic chicken and egg situation,” said Ed Keon, a portfolio manager at Quantitative Managing Associates. “You need to get a firmer labor market — when companies are hiring and putting some their cash to work — in order to increase consumer confidence. But business people need to see demand before they can go crazy about expanding and hiring more people.”
For the moment, consumers don’t appear to be feeling better about the outlook. Friday’s GDP report showed consumer spending grew by 1.6 percent in the second quarter, down from 1.9 percent in the first quarter.
"Overall, the survey data suggest that the current slowdown in spending is likely going to persist well into 2011," said Richard Curtin, director of the surveys.
Housing mired
Other sectors of the economy have yet to show increased momentum from the government’s stimulus spending. Despite two rounds of a generous home buyer tax credit, the housing industry, which typically leads economic recoveries, remains mired at low levels of demand not seen in decades. Persistently low mortgage rates have also failed to spur the kind of pickup in home sales seen in past economic recoveries.
The financial collapse that caused the recession has also left an aftermath that is not typically seen in most recoveries. Homeowners are still struggling to pay down debt and make up for heavy losses in home equity suffered when the housing bubble burst. Prices in many parts of the country are still falling.
Businesses, uncertain about where the economy is headed, are hoarding cash. Despite an unprecedented Federal Reserve policy holding interest rates near zero, credit is tight.
“The fundamental picture of the economy is quite different than any other business cycle,” said David Ressler, chief economist at Nomura Securities. “We're not going to see a snapback in many sectors; housing is going to crawl back.”
The risk that businesses and consumers most fear is that the economy slides back into recession again, sending unemployment higher and profits lower. So far, most forecasters say the odds of that happening are less than 50-50.
Growth forecasts
Some two-thirds of economists surveyed last month by the National Association of Business Economists said they expect the overall growth rate will top 2 percent in 2010. A separate survey of private economists by Blue Chip Economic Indicators came up with a consensus forecast of 3.1 percent growth in 2011.
But the extraordinary causes of this recession bring extraordinary risks that go beyond the possible double-dip scenario. One of the most disturbing was outlined this week in a paper by James Bullard, president of the St. Louis Fed.
With inflation barely visible in the past few months data, Bullard warned the dangers of deflation — when prices tumble either because of a collapse of spending, a decline in the money supply, or both — pushing the U.S. economy into the kind of long-term, downward price spiral that has plagued Japan for more than a decade.
So far, the weak economy has produced the kind of low levels of inflation that the textbooks predict. The risk, Bullard argues, is that the policy the Federal Reserve has been using — targeting low interest rates to stimulate growth — could be steering the central bank toward the very deflation cycle that policymakers are hoping to avoid.
Bullard suggests that the central bank consider returning to a policy known as “quantitative easing” involving massive purchases of government debt to pump more cash into the economy to try to reflate the economy.
In an interview with CNBC Friday, Bullard stressed that he doesn’t see signs yet that deflation is taking hold.
“If the economy continues to recover in the second half of the year and we're growing really rapidly, then this will all go away and we'll all forget about it,” he said. “But that's not the nature of contingency planning. You have to be ready for the opposite case.”
© 2010 msnbc.com Reprints
Monday, July 26, 2010
Many fear job loss, but have no savings for it
45 percent could not cover expenses for more than a month without job
by Allison Linn Senior writer
msnbc.com
updated 7/26/2010 4:29:11 PM ET
Despite being warned for years to save, almost half of Americans face the worst-case scenario if they are laid off: out of work and out of money.
Forty-five percent of Americans surveyed by insurer MetLife said they could not pay their bills for more than a month if they lost a job, and 65 percent said they couldn’t cover their expenses for three months.
Though they lack a financial cushion, many Americans are fearful that they could find themselves out of work. The 2010 MetLife Study of the American Dream, conducted from April 14 to 21 and released Monday, found that 55 percent of Americans are concerned they will lose their job.
As the nation struggles to recover from the worst recession since the Great Depression, those fears are clearly warranted. As of June, 9.5 percent of American workers, or 14.6 million people, were out of work, according to the Bureau of Labor Statistics. About half of those workers, of 6.8 million people, had been jobless for six months or more.
Despite such grim statistics, MetLife researchers saw glimmers of hope in the survey results. Beth Hirschhorn, senior vice president of global brand and marketing services for MetLife, said the figures actually showed an improvement over last year, when 50 percent of Americans said they could not go more than a month without a paycheck.
“The only silver lining is that people have taken notice and they’re making changes,” Hirschhorn said.
In general, she said this year’s study showed that Americans were most action-oriented than a year earlier, and more focused on financial responsibility. Three-quarters of Americans reported that they had cut spending, and more people said that being financially responsible was key to achieving the American dream.
“A year ago more people were talking about what they were going to do,” she said. “Now, we see that they have done things.”
The bank of family
Still, millions of Americans are struggling financially, and the MetLife survey showed that families are taking up the slack. Nearly half of those surveyed said they had given money to a family member so they could pay their bills.
Hirschhorn said the results show that a huge number of Americans are relying on “the national bank of family” just to stay afloat.
“This lending is lifeline lending,” said
William M. Rodgers, professor of public policy at the Heldrich Center for Workforce Development at Rutgers University, said one reason many Americans haven’t been able to save for a potential job loss is because they came into the recession still struggling from the weak economy of 2000 and 2001.
“When we entered this recession back in December of 2007, Americans were probably the most vulnerable they’ve ever been before,” Rodgers said.
Still, Rodgers said he also is seeing evidence that the recession has been a wake-up call.
“It’s forced us, in many ways, to change our priorities. It’s forced us to recognize that we can’t live beyond our means,” he said.
Even though many Americans want to change their spending habits, progress is expected to be slow. That’s because many continue to deal with relatively high debt levels, a weak economy and a feeling that just covering the basic necessities continues to get more expensive.
“They’re trying to dig themselves out of such a deep hole,” Hirschhorn said.
© 2010 msnbc.com Reprints
by Allison Linn Senior writer
msnbc.com
updated 7/26/2010 4:29:11 PM ET
Despite being warned for years to save, almost half of Americans face the worst-case scenario if they are laid off: out of work and out of money.
Forty-five percent of Americans surveyed by insurer MetLife said they could not pay their bills for more than a month if they lost a job, and 65 percent said they couldn’t cover their expenses for three months.
Though they lack a financial cushion, many Americans are fearful that they could find themselves out of work. The 2010 MetLife Study of the American Dream, conducted from April 14 to 21 and released Monday, found that 55 percent of Americans are concerned they will lose their job.
As the nation struggles to recover from the worst recession since the Great Depression, those fears are clearly warranted. As of June, 9.5 percent of American workers, or 14.6 million people, were out of work, according to the Bureau of Labor Statistics. About half of those workers, of 6.8 million people, had been jobless for six months or more.
Despite such grim statistics, MetLife researchers saw glimmers of hope in the survey results. Beth Hirschhorn, senior vice president of global brand and marketing services for MetLife, said the figures actually showed an improvement over last year, when 50 percent of Americans said they could not go more than a month without a paycheck.
“The only silver lining is that people have taken notice and they’re making changes,” Hirschhorn said.
In general, she said this year’s study showed that Americans were most action-oriented than a year earlier, and more focused on financial responsibility. Three-quarters of Americans reported that they had cut spending, and more people said that being financially responsible was key to achieving the American dream.
“A year ago more people were talking about what they were going to do,” she said. “Now, we see that they have done things.”
The bank of family
Still, millions of Americans are struggling financially, and the MetLife survey showed that families are taking up the slack. Nearly half of those surveyed said they had given money to a family member so they could pay their bills.
Hirschhorn said the results show that a huge number of Americans are relying on “the national bank of family” just to stay afloat.
“This lending is lifeline lending,” said
William M. Rodgers, professor of public policy at the Heldrich Center for Workforce Development at Rutgers University, said one reason many Americans haven’t been able to save for a potential job loss is because they came into the recession still struggling from the weak economy of 2000 and 2001.
“When we entered this recession back in December of 2007, Americans were probably the most vulnerable they’ve ever been before,” Rodgers said.
Still, Rodgers said he also is seeing evidence that the recession has been a wake-up call.
“It’s forced us, in many ways, to change our priorities. It’s forced us to recognize that we can’t live beyond our means,” he said.
Even though many Americans want to change their spending habits, progress is expected to be slow. That’s because many continue to deal with relatively high debt levels, a weak economy and a feeling that just covering the basic necessities continues to get more expensive.
“They’re trying to dig themselves out of such a deep hole,” Hirschhorn said.
© 2010 msnbc.com Reprints
Friday, July 23, 2010
Social Media's Role in the Job Search
Knowing when traditional tools are better
By Anthony Balderrama, CareerBuilder.com writer
The Internet has significantly changed how we carry out many everyday tasks. We don't have to receive bills in the mail or go to the bank to check our account balances. Hop online and almost everything we want to do is at our fingertips. Online job hunting has replaced flipping through the newspaper want ads to find that elusive open position.
Another significant addition to the Internet is social media. Social networking sites have suddenly put us in touch with long-lost friends or helped us make new ones. They're like class reunions and dating services rolled into one. And now they've become professional tools, too. You can use your online profile to display your work history and skill set.
As great as these advances are, some people fail to understand that new isn't always better. Sometimes older, more traditional methods are better than the newer, flashier ones. It's something that plenty of job seekers need to realize when they're looking for work and professionals should think about when using their profiles to network.
The job seeker's friend ... and foe
When looking for work, the biggest drawback to social media is the virtual paper trail you might leave. Attorney Robin Bond reminds job seekers that how you interact with friends is probably not how you interact with a boss or even co-workers, so make sure your professional side is what people see.
"Use separate sites for business and personal contacts," Bond advises. "If you were having a party, it's unlikely you'd invite all your party pals to the same event where you were entertaining your boss and work colleagues." For that reason, take advantage of professional networking sites like LinkedIn and BrightFuse for displaying your skills to potential business contacts and employers.
Keep the more irreverent profiles on a separate site and out of the hands of employers. Even then, Bond cautions against posting potentially damaging photographs because it is the Internet and nothing is entirely private.
"If you think your mom would be embarrassed by something you post, then think twice about posting it," he says.
Naturally, the visibility that could ruin your career could also be what gives you one in the first place. David Gammel, author of "Online and On Mission: Practical Web Strategy for Breakthrough Results," sees the value in social media's prominence when used for good.
"If you have posted lots of content under your identity that enhances your qualifications, it will show up high in search results and benefit how you are perceived," Gammel says. "If that content is unprofessional or otherwise at odds with the job you are pursuing, it may stop you in your tracks."
Although social media are an asset, they have yet to become the definitive way to land a position, he says.
"The best way to find a new job is still through a personal referral from someone who trusts you to someone who trusts them," Gammel says. "Social media might be used for communicating, but it won't create that trust. Good old-fashioned relationships will do that."
Remember the 'network' in social network
For professionals who already have a job, and for those who are considering a career move, social media can supplement traditional networking methods. They don't replace them, but they offer new opportunities alongside them.
"I think the biggest problem is that people treat social media and 'the real world' as if they are two separate modes of contact all too often," says Sam Ford, director of customer insights for communications agency Peppercom Inc. "The best answer is to use a combination of the two when searching for jobs, building relationships with potential employers, building out your network, etc. In my own network and in dealing with job prospects, I've found that a combination of the two makes all the difference in the world."
That amalgamation can add another dimension to an otherwise dull online experience.
"I find myself wanting to connect with people on Twitter [and] accepting LinkedIn connections particularly if we've had a strong face-to-face or phone conversation in the past," Ford says. He found that the online component enriches the relationship and wouldn't have occurred had they never interacted in a traditional way first.
Ultimately, what job seekers and professionals interested in networking need to remember is that business doesn't exist only online or face-to-face. Technology is part of everyday business and there are people behind those Tweets and profiles, so you should remember to make both new and traditional methods part of your networking practices.
Anthony Balderrama is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. He researches and writes about job search strategy, career management, hiring trends and workplace issues. Follow him on Twitter at twitter.com/abalderrama.
Copyright 2009 CareerBuilder.com All rights reserved. The information contained in this article may not be published, broadcast or otherwise distributed without prior written authority.
By Anthony Balderrama, CareerBuilder.com writer
The Internet has significantly changed how we carry out many everyday tasks. We don't have to receive bills in the mail or go to the bank to check our account balances. Hop online and almost everything we want to do is at our fingertips. Online job hunting has replaced flipping through the newspaper want ads to find that elusive open position.
Another significant addition to the Internet is social media. Social networking sites have suddenly put us in touch with long-lost friends or helped us make new ones. They're like class reunions and dating services rolled into one. And now they've become professional tools, too. You can use your online profile to display your work history and skill set.
As great as these advances are, some people fail to understand that new isn't always better. Sometimes older, more traditional methods are better than the newer, flashier ones. It's something that plenty of job seekers need to realize when they're looking for work and professionals should think about when using their profiles to network.
The job seeker's friend ... and foe
When looking for work, the biggest drawback to social media is the virtual paper trail you might leave. Attorney Robin Bond reminds job seekers that how you interact with friends is probably not how you interact with a boss or even co-workers, so make sure your professional side is what people see.
"Use separate sites for business and personal contacts," Bond advises. "If you were having a party, it's unlikely you'd invite all your party pals to the same event where you were entertaining your boss and work colleagues." For that reason, take advantage of professional networking sites like LinkedIn and BrightFuse for displaying your skills to potential business contacts and employers.
Keep the more irreverent profiles on a separate site and out of the hands of employers. Even then, Bond cautions against posting potentially damaging photographs because it is the Internet and nothing is entirely private.
"If you think your mom would be embarrassed by something you post, then think twice about posting it," he says.
Naturally, the visibility that could ruin your career could also be what gives you one in the first place. David Gammel, author of "Online and On Mission: Practical Web Strategy for Breakthrough Results," sees the value in social media's prominence when used for good.
"If you have posted lots of content under your identity that enhances your qualifications, it will show up high in search results and benefit how you are perceived," Gammel says. "If that content is unprofessional or otherwise at odds with the job you are pursuing, it may stop you in your tracks."
Although social media are an asset, they have yet to become the definitive way to land a position, he says.
"The best way to find a new job is still through a personal referral from someone who trusts you to someone who trusts them," Gammel says. "Social media might be used for communicating, but it won't create that trust. Good old-fashioned relationships will do that."
Remember the 'network' in social network
For professionals who already have a job, and for those who are considering a career move, social media can supplement traditional networking methods. They don't replace them, but they offer new opportunities alongside them.
"I think the biggest problem is that people treat social media and 'the real world' as if they are two separate modes of contact all too often," says Sam Ford, director of customer insights for communications agency Peppercom Inc. "The best answer is to use a combination of the two when searching for jobs, building relationships with potential employers, building out your network, etc. In my own network and in dealing with job prospects, I've found that a combination of the two makes all the difference in the world."
That amalgamation can add another dimension to an otherwise dull online experience.
"I find myself wanting to connect with people on Twitter [and] accepting LinkedIn connections particularly if we've had a strong face-to-face or phone conversation in the past," Ford says. He found that the online component enriches the relationship and wouldn't have occurred had they never interacted in a traditional way first.
Ultimately, what job seekers and professionals interested in networking need to remember is that business doesn't exist only online or face-to-face. Technology is part of everyday business and there are people behind those Tweets and profiles, so you should remember to make both new and traditional methods part of your networking practices.
Anthony Balderrama is a writer and blogger for CareerBuilder.com and its job blog, The Work Buzz. He researches and writes about job search strategy, career management, hiring trends and workplace issues. Follow him on Twitter at twitter.com/abalderrama.
Copyright 2009 CareerBuilder.com All rights reserved. The information contained in this article may not be published, broadcast or otherwise distributed without prior written authority.
Tuesday, July 20, 2010
Best States for Business (and jobs)-
From the Professional Insurance Agents(PIA) newsletter, July 19,2010 edition
Texas Tops List
CNBC does an annual survey of the best states for
business. Texas tops this year’s survey. Here are the
top-10 states:
1. Texas
2. Virginia
3. Colorado
4. North Carolina
5. Massachusetts
6. Iowa
7. South Dakota
8. Minnesota & Utah — tie
9. Georgia
Last year’s winner was Virginia. The two states swap the top spot every year. Texas was
top in 2008. Virginia was number one the first year of the survey in 2007.
These are the categories used to select the top states:
• Cost of Doing Business — 450 point
• Workforce — 350 points
• Quality of Life — 350 points
• Economy — 314 points
• Transportation & infrastructure — 300 points
• Technology & innovation — 250 points
• Education — 175 points
• Business friendliness — 175 points
• Access to capital — 50 points
• Cost of living — 25 points
According to the survey Alaska is bottom state for business. A high cost of living, high
cost of doing business and lack of infrastructure are the reasons.
Here is the bottom four:
1. Alaska
2. Rhode Island
3. Hawaii
4. Nevada
California and Hawaii are the most expensive states to live in and New York has the
highest cost of doing business.
Here is how the nine PIA Western Alliance states did in the survey:
15. Washington
18. Arizona
23. Oregon
26. Idaho
32. California — tied with Arkansas
36. Montana
38. New Mexico
47. Nevada
50. Alaska
Texas Tops List
CNBC does an annual survey of the best states for
business. Texas tops this year’s survey. Here are the
top-10 states:
1. Texas
2. Virginia
3. Colorado
4. North Carolina
5. Massachusetts
6. Iowa
7. South Dakota
8. Minnesota & Utah — tie
9. Georgia
Last year’s winner was Virginia. The two states swap the top spot every year. Texas was
top in 2008. Virginia was number one the first year of the survey in 2007.
These are the categories used to select the top states:
• Cost of Doing Business — 450 point
• Workforce — 350 points
• Quality of Life — 350 points
• Economy — 314 points
• Transportation & infrastructure — 300 points
• Technology & innovation — 250 points
• Education — 175 points
• Business friendliness — 175 points
• Access to capital — 50 points
• Cost of living — 25 points
According to the survey Alaska is bottom state for business. A high cost of living, high
cost of doing business and lack of infrastructure are the reasons.
Here is the bottom four:
1. Alaska
2. Rhode Island
3. Hawaii
4. Nevada
California and Hawaii are the most expensive states to live in and New York has the
highest cost of doing business.
Here is how the nine PIA Western Alliance states did in the survey:
15. Washington
18. Arizona
23. Oregon
26. Idaho
32. California — tied with Arkansas
36. Montana
38. New Mexico
47. Nevada
50. Alaska
Monday, July 19, 2010
Oregon is getting poorer.....and so is the people.
Basically, Oregon is getting poorer
The state has been falling behind many others in per capita income for decades
By Tim Fought
The Associated Press
Appeared in print: Sunday, Jul 18, 2010
PORTLAND — Behind the state’s budget crisis this summer lies a brutal economic truth: Relative to the rest of America, Oregon is getting poorer.
Oregon has been getting poorer, in relative terms, for decades, and the Great Recession has brought the state to a low point.
Oregon now ranks 32nd among the states in per capita personal income, and Oregonians earnings are slightly more than 90 percent of the national average.
These are the lowest figures for Oregon since the federal government started keeping the measurement — about the same time the stock market crashed in 1929. It’s not that Oregonians haven’t been able to raise incomes over the years.
Adjusted for inflation, Oregon’s per capita income is higher today: $35,000 in 2009, compared with, for example, $21,000 four decades earlier.
But the rest of the country has done better, raising incomes faster on average. So, Oregon is falling behind.
That makes the painful cuts in schools and government expected in coming months just the public symbol of how Oregonians at large are adjusting to a long-term slide relative to other Americans in income.
"That stubborn number is the root of all problems,” said Ryan Deckert, a former legislator who leads the Oregon Business Association. “We’re poorer, our families are poorer, our people are poorer, our public institutions are poorer.”
Economists say the relative measure is significant because as Oregonians’ income drops in relation to that of the rest of the country, it falls behind other states in its ability to pay for consumer goods and government services. That’s especially true with expenses that rise rapidly, such as health care.
“If you can’t generate income to keep up with those prices, clearly you have a challenge,” said economist Tim Duy of the University of Oregon.
Per capita personal income doesn’t get so much public attention as other economic numbers, such as the rates of unemployment or interest. It’s a broad measure, tracking wages, salaries, transfer payments such as Social Security, and business-related sources such as dividends, interest and rental payments. It doesn’t include corporate income.
People who track the state over the long term watch the figure closely and, in recent years, with increasing worry.
Before it was abolished in a round of budget cutting last year, the Oregon Progress Board called it the top economic “area of concern” among dozens of benchmarks it tracked.
This summer, a panel of close advisers to Gov. Ted Kulongoski said the figure was fundamental to its conclusions: Oregonians could no longer afford their state government, there was little prospect that economic growth would allow them to regain their purchasing power, and a wrenching “reset” would be required, slashing government expense well beyond the 9 percent in cuts the governor called for last month.
In a sense, this slide is an old story in Oregon.
In 2009, according to the U.S. Bureau of Economic Analysis, per capita personal income was slightly more than 90 percent of the national average.
Decades before that, in 1943, when Oregon was churning out lumber, ships and crops to fight World War II, Oregonians had income that was 124 percent of the national average, the high point, according to a report prepared by state Department of Employment economist Charles Johnson in 2009 and titled “Oregonians are Losing Ground to the Average American.”
Even though the state’s standing relative to the rest of the nation declined, good jobs in the forests and mills sustained a sense of well-being in Oregon, “but that all changed in 1980,” said John Tapogna, the president of the prominent Oregon economic consulting firm ECONorthwest.
That’s about the time the Federal Reserve under Paul Volcker choked off inflation by squeezing the money supply, initiating a hard recession that was extra hard on Oregon. That’s also the last time per capita personal income in the state was equal to the national average.
Since then, the growth of the silicon forest, led by giants such as Intel and Tektronix, gave the state a flush of high-tech income. The state’s relative ranking in incomes rose. But the flush has faded, and the slide in income relative to the nation’s has resumed.
“Once that tech boom went away, we didn’t have much coming in behind it,” Duy said.
Duy said many have put their hopes in the idea that Oregon’s “livability” — mountains, seacoast, outdoor recreation and so forth — would attract enough brainpower to generate the economic activity that will raise incomes.
Oregon State University economist Patrick Emerson said the wealth of natural resources can be a curse for some economies that don’t put enough money back into the economy in education and other sources of future wealth.
“I don’t want to push this too far, for there are lots of factors,” he said in an e-mail exchange, “but easy money from resources can often make societies complacent.”
“Those states and countries that initially had resource wealth and are now wealthy for other reasons usually did a very good job transforming that wealth into investments in human capital, physical capital and infrastructure.” he said. “Oregon did this fairly well, but not as well as perhaps it should have.”
The state has been falling behind many others in per capita income for decades
By Tim Fought
The Associated Press
Appeared in print: Sunday, Jul 18, 2010
PORTLAND — Behind the state’s budget crisis this summer lies a brutal economic truth: Relative to the rest of America, Oregon is getting poorer.
Oregon has been getting poorer, in relative terms, for decades, and the Great Recession has brought the state to a low point.
Oregon now ranks 32nd among the states in per capita personal income, and Oregonians earnings are slightly more than 90 percent of the national average.
These are the lowest figures for Oregon since the federal government started keeping the measurement — about the same time the stock market crashed in 1929. It’s not that Oregonians haven’t been able to raise incomes over the years.
Adjusted for inflation, Oregon’s per capita income is higher today: $35,000 in 2009, compared with, for example, $21,000 four decades earlier.
But the rest of the country has done better, raising incomes faster on average. So, Oregon is falling behind.
That makes the painful cuts in schools and government expected in coming months just the public symbol of how Oregonians at large are adjusting to a long-term slide relative to other Americans in income.
"That stubborn number is the root of all problems,” said Ryan Deckert, a former legislator who leads the Oregon Business Association. “We’re poorer, our families are poorer, our people are poorer, our public institutions are poorer.”
Economists say the relative measure is significant because as Oregonians’ income drops in relation to that of the rest of the country, it falls behind other states in its ability to pay for consumer goods and government services. That’s especially true with expenses that rise rapidly, such as health care.
“If you can’t generate income to keep up with those prices, clearly you have a challenge,” said economist Tim Duy of the University of Oregon.
Per capita personal income doesn’t get so much public attention as other economic numbers, such as the rates of unemployment or interest. It’s a broad measure, tracking wages, salaries, transfer payments such as Social Security, and business-related sources such as dividends, interest and rental payments. It doesn’t include corporate income.
People who track the state over the long term watch the figure closely and, in recent years, with increasing worry.
Before it was abolished in a round of budget cutting last year, the Oregon Progress Board called it the top economic “area of concern” among dozens of benchmarks it tracked.
This summer, a panel of close advisers to Gov. Ted Kulongoski said the figure was fundamental to its conclusions: Oregonians could no longer afford their state government, there was little prospect that economic growth would allow them to regain their purchasing power, and a wrenching “reset” would be required, slashing government expense well beyond the 9 percent in cuts the governor called for last month.
In a sense, this slide is an old story in Oregon.
In 2009, according to the U.S. Bureau of Economic Analysis, per capita personal income was slightly more than 90 percent of the national average.
Decades before that, in 1943, when Oregon was churning out lumber, ships and crops to fight World War II, Oregonians had income that was 124 percent of the national average, the high point, according to a report prepared by state Department of Employment economist Charles Johnson in 2009 and titled “Oregonians are Losing Ground to the Average American.”
Even though the state’s standing relative to the rest of the nation declined, good jobs in the forests and mills sustained a sense of well-being in Oregon, “but that all changed in 1980,” said John Tapogna, the president of the prominent Oregon economic consulting firm ECONorthwest.
That’s about the time the Federal Reserve under Paul Volcker choked off inflation by squeezing the money supply, initiating a hard recession that was extra hard on Oregon. That’s also the last time per capita personal income in the state was equal to the national average.
Since then, the growth of the silicon forest, led by giants such as Intel and Tektronix, gave the state a flush of high-tech income. The state’s relative ranking in incomes rose. But the flush has faded, and the slide in income relative to the nation’s has resumed.
“Once that tech boom went away, we didn’t have much coming in behind it,” Duy said.
Duy said many have put their hopes in the idea that Oregon’s “livability” — mountains, seacoast, outdoor recreation and so forth — would attract enough brainpower to generate the economic activity that will raise incomes.
Oregon State University economist Patrick Emerson said the wealth of natural resources can be a curse for some economies that don’t put enough money back into the economy in education and other sources of future wealth.
“I don’t want to push this too far, for there are lots of factors,” he said in an e-mail exchange, “but easy money from resources can often make societies complacent.”
“Those states and countries that initially had resource wealth and are now wealthy for other reasons usually did a very good job transforming that wealth into investments in human capital, physical capital and infrastructure.” he said. “Oregon did this fairly well, but not as well as perhaps it should have.”
Friday, July 16, 2010
Job search efforts
Since becoming unemployed in July of last year I have tried many things to get noticed. The first thing I did was to create my personal website, http://www.hiresherry.com/. My website gives employers a snap shot of me and my resume can be viewed online. I've been advertising my website on my car. This got me noticed by the news media where KVAL did a story on my job search efforts. I have also been featured on the radio on KPNW's Wake Up Call with Holloway and Lunden. This additional publicity has definitely generated more traffic to my website. I have also created a Facebook page and Twitter account. I also recently began advertising in an online newsletter for my industry. This advertisement got me 2 interview requests. The positions are out of the Eugene area, but it's been a while since I received an interview request so I gladly accepted the requests. I drove up to Portland on Thursday of this week and interviewed. I have a second interview scheduled for next week with one of the companies. Although the position is in Portland I have hope that it will all work out. While I'd like to stay in Eugene, at this point, after being unemployed for almost 1 year (July 28) I feel I must accept a Portland position if it is offered to me.
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