Weak Demand for Companies’ Core Products and Services Contributes to Slow Jobs Growth
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Strong Job Market Expected for Iowa
June 14, 2011 – Employers inIowa expect to hire at a healthy pace during the third quarter of 2011, according to the Manpower Employment Outlook Survey.
From July to September, 23% of the companies interviewed plan to hire more employees, while 8% expect to reduce their payrolls. Another 66% expect to maintain their current staff levels and 3% are not certain of their hiring plans. This yields a Net Employment Outlook* of 15%.
“The Quarter 3 2011 survey results point toward improved hiring plans compared to Quarter 2 2011 when the Net Employment Outlook was 10%,” said Manpower spokesperson Sunny Ackerman. “Compared to one year ago when the Net Employment Outlook was 19%, employers are less confident about their staffing plans.”
For the coming quarter, job prospects appear best in Construction, Durable and Non-Durable Goods Manufacturing, Transportation & Utilities, Wholesale & Retail Trade, Information, Professional & Business Services, Leisure & Hospitality and Other Services. Employers in Financial Activities and Education & Health Services plan to reduce staffing levels, while hiring in Government is expected to remain unchanged.
Manpower Employment Outlook Survey Results for the United States
Of the more than 18,000 employers surveyed in the United States, 20% anticipate an increase in staff levels in their Quarter 3 2011 hiring plans, while 8% expect a decrease in payrolls, resulting in a Net Employment Outlook of +12%. When seasonally adjusted, the Net Employment Outlook becomes +8%. Sixty-nine percent of employers expect no change in their hiring plans. The remaining 3% of employers indicate they are undecided about their hiring intentions.
To view results for Metropolitan Statistical areas surveyed within Iowa, visit http://press.manpower.com.
The next Manpower Employment Outlook Survey will be released on September 13, 2011 to report hiring expectations for Quarter 4 2011.
About the Survey
The Manpower Employment Outlook Survey is conducted quarterly to measure employers’ intentions to increase or decrease the number of employees in their workforces during the next quarter. The Manpower Employment Outlook Survey’sUnited Statesresults are based on interviews with 18,000 employers located in the 50 states, theDistrict of ColumbiaandPuerto Rico, which includes the largest 100 Metropolitan Statistical Areas based on number of business establishments. The mix of industries within the survey follows the North American Industry Classification System Supersectors and is structured to be representative of theU.S.economy.
The complete results of the national Manpower Employment Outlook Survey can be found in the Press Room of our website at http://press.manpower.com. There you will also find the results for the 100 Metropolitan Statistical Areas surveyed, the 50 states, theDistrict of ColumbiaandPuerto Rico. Questions can be directed to firstname.lastname@example.org.
According to the U.S. Bureau of Labor Statistics, unemployment rates were higher in November than a year earlier in all 372 metropolitan areas. Seventeen areas recorded jobless rates of at least 15.0 percent, while 13 areas registered rates below 5.0 percent. The national unemployment rate in November was 9.4 percent, not seasonally adjusted, up from 6.5 percent a year earlier.
Closer to home, Iowa’s unemployment reached 6.4 percent in November, up from 6.1 percent in October and 4.1 percent in November, 2008. In the Des Moines-West Des Moines MSA, roughly 19,800 or 6.2 percent of the workforce was out of work.
Below is the A12 chart from the Bureau of Labor Statistics. This chart gives the full unemployment picture of what is going on in the United States. These numbers cover a lot of varying categories and are often referred to but not always shown in full.
Unfortunately at this point it is still not a pretty picture, I do not expect to see any decrease in these numbers until the first half of 2010. That said, I.T. and Manufacturing are two burgeoning sectors of growth albeit they are not wide spread across every state. We are beginning to build toward hiring trends that will go beyond state borders, once that begins there will definitely be more companies willing to put both feet in and start hiring again.
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As you can see from the graph below, the better the education the better the odds that you are still employed. As I said about a similar graph, this is one you want to print out and put on the fridge at home to help your kids understand the importance of education.
Click to make larger.
The April 2009 Jobs Report came out today and said that nonfarm payroll employment continued to decline in April (-539,000 – it was negative 699,000 last month), and the unemployment rate rose from 8.5 to 8.9 percent. Since the recession began in December 2007, 5.7 million jobs have been lost. In April, job losses were large and widespread across nearly all major private-sector industries. Overall, private sector employment fell by 611,000.
So is there any good news in any of these numbers? Yes there is. The chart below shows what is seemingly true, that we have hit bottom and are on our way back up. That said, the bottom we hit was so low that even improvements won’t look much like an improvement for awhile. Something else that cannot be ignored is that there will probably still continue to be some layoffs in certain sectors.
I do believe though that there will start to be some uptick’s in manufacturing as companies begin to have depleted inventories. When the recession started, manufacturing took the biggest hit the fastest which means they will be a good indicator to watch for real evidence of economic turnaround and consumer confidence. Manufacturing also drives our GDP so for our economy to truly start growing again we need to be back making and assembling products to sell (and then you need to go out and buy them).
I never thought it would feel good to see better negative numbers.
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First of all let me state that education is never a bad idea. If you think it is or you are wondering whether or not to return to School – let me answer it for you quickly and succinctly; Go Back to School. As you can see below, even in tough times the ones with a College Degree are faring much better during the recession than those that don’t. So if you have been laid-off and are thinking of going back to school or finishing school, all I can say is the numbers would support it. For those of you like myself that have children at home, print out this graph and put it on the fridge to remind them of why education is important.
Click on Picture to enlarge.