There has been lots of buzz around the United States caused by the recent national job growth reports. We have now seen a few consecutive months of job growth with last month recording 162,000 new jobs, the largest bump in over three years. The problem is many of the jobs that are being accounted for are short-term, part-time jobs….jobs being created by the US Census.
The U.S. Census is hiring a total of 700,000 people this year to assist with census. This job growth and amortized it over 12 months, equates to nearly 60,000 new jobs a month. But reality is they are hiring most up front. And most will lose those Census jobs by year end. My gut tells me these jobs may be creating a fictitious sense of recovery.
Thanks to Toby at JobDig for this chart.
They say a picture says a thousand words. Well, here is a graph that was produced by the Bureau of Labor Statistics and released by Nancy Pelosi, Speaker of the House:
The green show where we are in the current recession. The red is from the 2001 recession. And the blue line is from the recession of 1990.
With the challenging economy we face, Recruiting Nevada felt it was important to offer more tools to assist those looking for jobs in Las Vegas during these times. We have created two new pages that he hope will make a difference:
- The Recruiting Nevada Bookstore – employment related books.
- A reference guide for those recently laid off in Nevada.
If you can think of other tools that we can offer during this challenging time, please let me know.
The advertisement below demonstrates the “changing of the times” for newspapers. Hey – we have $1 stores….why not $1 ads??
Probably because Craigslist doesn’t cost anything.
Wow….how times change. It now appears that there is a shortage of mortgage professionals again!!
I am personally experiencing this with a refinance I am going through and several friends in the industry confirmed it…. The mortgage business is booming again and there are not enough professionals in the industry to handle the volume. I guess we will have to create a new marketing strategy to help fill mortgage jobs in Las Vegas.
Less than a year ago, the mortgage industry went through a natural RIF (Reduction in Force). No deals were getting done, so mortgage professionals were starving. It was probably a good thing considering every Tom, Dick and Harry that we met was a mortgage person on the side. I can’t tell you how many bartenders, waitresses and hairstylists that I met were ‘also’ in the mortgage business. Considering how many could not determine the change from $20 on a $14.50 check without a calculator, was a little bothersome. How could they get a several hundred thousand dollar mortgage correct??
Let’s hope that only the true, true professionals return to the business.
They say a picture can say a 1,000 words.
Well….. this one is not to pretty. This is a chart that shows Nevada job growth, year-over-year, from 2007 to 2008.
Note: November and December have not been accounted for.
It will be nice when we start creating more Jobs in Nevada.
The October SHRM LINE Report produced a chart that best demonstrates the CHANGE of recruiting difficulty in the marketplace:
Many months back, I started a category called Dips & Humps. Most of the posts were nothing more than graphs and images that demonstrate the highs and lows of unemployment, growth and change in Nevada. Most focusing on Nevada jobs.
I recently received the most recent Economic INsight report from Restrepo Consulting Group LLC (“RCG”), Southern Nevada’s most established economics firm. The graphs below tell a lot:
August 2008 Change in Employment:
August 2008 – Change in Employment (By Industry)
August 2008 Unemployment Claims
Word on the street is that Echelon Resorts (Boyd Gaming) hit the brakes on the project and will revisit resuming in three of four quarters. That will surely throw off projections of 145,000 new jobs by 2011. More to come later……….
BTW – It’s hard to tell from their web cam if there is any activity.
