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Job Support Group Leader Newsletter
March 2008
Job market talking points
The news on the job market continues to be mixed, but here are some highlights:
- According to a survey by the National Association of Colleges and Employers (NACE), hires on the college campus ar expected to be 16% higher this year versus one year ago, with many employers (54%) planning to pay hiring bonuses for acceptance of job offers. Note: adding new graduates creates more supervisor and manager roles to provide training and leadership.
- In a recent survey by Execunet of 114 executive recruiters, 59% reported that they expect growth in search assignments at six figure pay levels over the next six months. Top five sectors for growth are the Life sciences (pharmaceuticals, biotech, and medical), healthcare, high-tech, manufacturing, and financial services. Top five jobs in demand are business development, sales, operations management, marketing and engineering.
- CareerXroads recently conducted a survey of 49 employers with average staff size of 5 million and a total of 303,000 hires for 2007. Of those employers:
- 35% expect fewer hires for 2008 versus last year,
- 44% expect about the same hiring pace this year as last year,
- 22% expect to increase employment in 2008.
- NPA is an association of 400 placement firms with both domestic and international affiliates. The membership firms have hundreds of assignments, with the top industry sectors in processing (food, chemicals, oil, gas and textiles) and commodity production. The top five areas for jobs are engineering, finance, accounting, marketing and sales. Job posts at pay levels above $100,000 are up 30% versus one year ago.
Surveys are predictions of reasonable expectations based upon information available, and the above examples suggest the job market is in so far, so good mode. If the forecasts are fulfilled, it will be a fairly good, but perhaps not an outstanding year for employment and job search!
Job Search Successes
Newsletter note: If you have a success story to share, send an email! And thanks!
Connecting with employers
The Federal Reserve has been very active recently, stepping in to support the financial markets such as the Bear Sterns rescue and interest rate reductions to help the mortgage and commercial lending markets. All of the actions of the "Fed" are designed to keep the financial system healthy and avoid problems such as a bank failure or other problems that could escalate into serious issues. Too fully understand the "Fed" actions, a little history may help.
The Federal Reserve was founded in 1913, and functions as the central banking system of the US. In 1929 and the months following the collapse of the financial market, the "Fed" faced its first crisis. And its actions contributed to moving the economy from a difficult recession to depression. The "Fed" evaluated the US economy of 1929-30 and concluded that containing inflation was a key issue, so it acted to reduce the money supply (selling bonds and notes), which takes money out of the financial system. Over a period of several years, more and more banks were unable to obtain adequate cash for daily operations, resulting in thousands of banks failures, costing millions of Americans their life savings. In 1929, there were over 25,000 banks in the US, which was reduced to 14,000+ in 1933, the depth of the depression, when unemployment was 25% of the US workforce.
The "Fed" has a long institutional memory. It took some of the responsibility for the depression, and in our time has been doing everything possible to maintain the financial system essential to the US economy. So to our fellow citizens at the "Fed," keep up the good work!
Alliance Partners
We support the following resources in service to job seekers:
- BPWUSA.org Business and Professional Women USA
- HACE: Hispanic Alliance for Career Enhancement
- Jobkabob.com: sell your skills, not your work history.
- Career Concepts USA: Job Fair resource
Have a success story or best ideas for job search to share? Send an email to leader@workministry.com.
Reminder:
Workministry.com has a growing list of job posts as well as continual improvement in resources for JSG Leaders and job seekers. Please make a
point of asking your group members to check the site, review the job posts and respond or send along to a friend, relative or former group
member.
Editor’s Note:
The Job Support Group Leader newsletter and message board are all about you. Our goal is to create a forum for
sharing information that helps you fulfill your mission. If you have feedback, ideas or suggestions for either the newsletter or the message
board, please send email to: leader@workministry.com.
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