Jobs Outlook Cloudy As Holiday Hiring Begins

Posted: October 5th, 2011 | Author: | Filed under: Career Coach, job growth rate, Unemployment News | Tags: , , , , | Comments Off on Jobs Outlook Cloudy As Holiday Hiring Begins

Macy’s released news that it plans to hire 78,000 seasonal staff to keep their stores profitable and customers happy during the holiday season. As Macy’s increases it’s holiday hiring by 4% this year, others are slowing down and the job outlook is cloudy ahead for many professionals that have been hunting for what seems like forever.

Payroll processing company ADP reported that private sector firms added only 91,000 jobs in September. When compared to the 15MM+ job seekers in the market, that’s a far cry from where we need it to be in order to balance supply and demand. Worse news came from the economists at that put the estimate at only 45,000 jobs added and revised August’s number down to 89,000 from the originally reported 91,000.  What’s this mean to you as a job seeker?

Holiday Hiring = Good Option

While you may have thought your days in retail were over, take a second look at what this might  mean for your job search. Let’s put aside that this will likely pay less that what you made in your professional career pre The Great Recession days, these seasonal jobs can turn in to full-time positions for top notch employees. They can lead to great networking opportunities within major corporations – for example, Macy’s employs 178,000 professionals. Whether your background is in finance, marketing, sales, operations or merchandising there’s a position in that company your skills transfer into and a season position may allow you to network into that role easier than applying from the outside. Plus, seasonal positions sometimes offer perks like store discounts and we can all use those during budget-tight times like these.

Layoffs Looming

News of layoffs tends to hit us from nearly every angle these days. Bank of America announced $5B worth of layoffs affecting 30,000 staff in September adding to an overall 115K+ total jobs cut by employers in September, up 56% from August. When compared to 2010, this year we’ve seen a 16.5% increase in planned layoffs (475K vs. 411K). The big difference is many companies are laying staff off quietly to avoid media coverage and bad press. These layoffs, combined with the slow job growth, is keeping the unemployment rate at 9.1%.

Stay Focused

Job searching is a frustrating process and in a market that has intense competition and employers that take weeks to respond (some never even do), focus and patience are essential. It’s easy to give up, focus time on something else (Facebook, Farmville or Pumpkin Carving anyone) and dig in your heels. At the end of the day, the early bird gets the…job. Networking is how 80% of jobs are landed in today’s market and that’s where you want to spend 80% of your time. The great news about networking is you’re already doing it without even knowing it. Dropping off kids at school, having friends over for dinner, volunteering at your local hospital – these are all natural networking opportunities where you will likely meet the person who knows someone that is “dying to find you and your skill set”.

Slow Growth and High Unemployment for Years to Come

Posted: August 24th, 2011 | Author: | Filed under: Career Coach, Career Transition Networking, job growth rate | Tags: , , , | Comments Off on Slow Growth and High Unemployment for Years to Come

I woke up this morning, went for a walk and grabbed my coffee only to nearly choke when I read the news feeds on my iPad. According to USA Today, the budget deficit this year will remain at about $1.3 trillion, the report says, marking the third straight year of $1 trillion-plus deficits. That’s 8.5% of the nation’s economy.  What are our lawmakers doing?  This was included in a story that caught my eye because the headline was “Budget agency: Jobless rate above 8% for years”

Budget deficit+Jobless Rate = Slow Growth

Does anyone notice a connection here? The ‘experts’ predict the jobless rate to fall to 8.9% by the end of 2011 yet hover above 8% until 2014. How is that they can predict there will be less than 0.9% job growth in the next 3 years and 4 months yet they can’t predict how the hell to fix it? I’d like them to zone into what the growth factors are that contribute to the 0.9% and invest in those sectors of the economy so rather than simply falling back on an 8% jobless rate, we change it. The U.S. economy is growing at an anemic pace as it is, can it possibly get slower?

Do Something Different

When I coach clients about their job search strategy what I focus on first is to start with a coachable goal, this is the #1 reason my success rate is above 90% vs. an industry average of 38%. If you start with a coachable goal and each week we coach towards achieving that goal, together we will have success. Is this the case with America’s budget and job growth rate today? Are the lawmakers starting with an achievable goal or a goal that’s unrealistic?

Say the goal was to reach a job growth rate of 1.3%, that seems achievable; certainly far more achievable than 5%, right? Once we hit 1.3% let’s go for 2% followed by 3% and so on. America moved into The Great Recession over time and we have to come out of it that way as well. The approach lawmakers seem to be taking, in my opinion, is to simply state a fact that we’re in this and while “we’re doing our best” this is just what it is until 2014. I say “Do Something Different”.

8.5% Budget Deficit?

Time to cut costs and locate new sources of revenue ladies and gentleman. If you want to know what this is like, forget the trillions of dollars politicians and media throw around. Plain and simple, the government is spending more than it’s bringing in – the clear definition of a deficit and has little plan for how to clean it up. If your family spent 8.5% more than it brought it, consistently, what do you think would happen? Would your credit card raise your limit to allow you to continue spending and go further into debt? Unlikely. That’s precisely what the Congress and President Obama have done by raising the debt ceiling – the equivalent of a U.S. national credit card limit – in order for America to cover its bills. 

Jobless rates and budget deficits above 8%. Do Something Different.