The SHRM LINE® Employment Expectations Report for July 2010 was recently released. It appears we may be seeing some recovery. This is the second month in a row with ‘more than positive’ expectations. Las Vegas and Nevada will still lag behind the rest of the United States, but right now we’ll take the good news. Here are some of the key findings:
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The SHRM LINE® Employment Expectations Report for June 2010 was recently released. Nationally, things are starting to look up a little. But, just a little. Here are some of the key findings:
This is the strongest start for Summer hiring in three years. Yes – I am trying to remain optimistic. However, I still believe we will see flat, or increased, unemployment levels in Nevada for months to come. For the first time, we will be the last to recover from an economic slow down. Here is a link to the full report. Here is a graph/chart for those who do not like to read full reports:
Here is reality: During this Great Recession the United States has lost well over 8 million jobs. Last month, we registered 162,000 new jobs (which I think is a false indicator). In February we only lost 36,000 jobs which was much better than the 726,000 jobs we lost the previous February.
Now let’s add some perspective: Say we were able to add 200,000 jobs this month. And let’s assume we can continue to add 200,000 new jobs each month thereafter. How long would it take for us to recover all of the jobs lost at this rate? It would take 3 1/2 years, if we did not include all of the jobs that we should be adding for new entrants into the workforce.
So where will all of these jobs come from? That is the million dollar question…especially in Nevada where the only two sector to see any job growth last year was health care/education and mining. How about green jobs in Nevada? Will we see growth there? The jury is still out. Nevada is surely positioned to take advantage of renewable energy, but we have not heard about that gold rush of jobs quite yet.
After attending Harrah’s community job fair where over 7,000 job seekers showed up to apply for 500 new jobs in Las Vegas it is easy to see just how bad it is. Nevada needs to develop a strategy to attract new industry here and diversify our economy. We know it will start with health care and education, or what I am calling “Eds & Meds“….but it will require much more.
A recent article in Time Magazine does an awesome job of diving into the issue of where the jobs will come from and how we will need to look to small business owners and entrepreneurial ventures to carry the load. If you have the time to read this article, it is a great read. Check it out here.
The health care industry is still adding jobs, but uncertainty around health system reform and budget cuts are causing deceleration.
According to the monthly help wanted advertising report issued by the Conference Board , the number of listings for health care practitioners and technicians decreased by 30,000 in February, falling to 537,000. This was primarily driven by declines in the number of ads for occupational therapists, physical therapists and general internists. Ads for health care support personnel also went down by 8,600, to 110,700.
Experts suspect, however, that not all of the advertising decline can be attributed to hiring reductions. Some institutions may have forced to reduce their recruiting expenses by using low- or no-cost tools only.
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.
Las Vegas, and the Western United States in general, are expected to rover behind the rest of the country for the first time in history. Brookings Institution released its’ fourth quarter economic analysis which shows that job recovery in Las Vegas will lag behind the rest of the country. Much of this has to do with our reliance on the gaming and construction industries, both of which have been pummelled in this economic recession. This further validates my “Eds & Meds” position made last week.
Several of the scholars from Brookings Mountain West have been presenting to Las Vegas Business leaders recently. The presentation is realistic in the findings it presents, yet optimistic in the opportunities that Nevada has in front of us.
Read the entire Brookings Institution Report.
Wind turbine manufacturing facility would employ 1,000, boost state’s clean-power resume’
By Stephanie Tavares
Southern Nevada, long in the hunt for a new source of jobs and for companies that can boost the state’s stature in the renewable energy industry, can claim both with Thursday’s announcement that an international manufacturer of wind turbines plans to establish its first American plant here.
The 320,000-square-foot facility is expected to be ready for operation by the end of 2011, creating more than 1,000 permanent jobs and adding leverage to Nevada’s argument that the state can play host to renewable energy companies as competition for them escalates.
Some good news to share!
Employment is expected to grow much faster than the average for all human resources, training, and labor relations managers and specialists occupations. College graduates and those who have earned certification should have the best job opportunities. See below for specific data from BLS:
Please remember to check our website for HR Events and Conferences, where you can network with other HR professionals in Las Vegas.
Online Job Demand Jumps 382,000 in January, The Conference Board Reports.
Key points from the data:
The report tracks more than 1,000 online job boards across the United States.
According to the SHRM January 2010 Newsletter hiring will make moderate strides in January. Though Las Vegas job opportunities remain limited, January marks the third straight month on an annual basis that hiring will exceed layoffs in manufacturing and services.
(Source: SHRM Leading Indicators of National Employment (LINE), shrm.org/line)
Job openings in both sectors are slowly rising. For the third consecutive month, vacancies rose from the previous year in December in all four job categories for manufacturing and services.
Compensation for new hires remains flat. For the second consecutive month, fewer than 3 percent of employers in both sectors increased wages and benefits packages for new hires in December.
In January, for the third month in a row, hiring will increase compared with the previous year.
While many economists expect high levels of unemployment to remain in the coming months, job seekers should have better prospects in January compared with a year ago. The hiring index is positive in both manufacturing and service sectors in January.
January marks the seventh straight month that more companies will add jobs than cut jobs in manufacturing and the ninth straight month that this has occurred in the service sector. It is also the third straight month that hiring has improved on an annual basis in both sectors.
Top-level talent is still available, but is getting harder to find for members of both sectors.
LINE’s recruiting difficulty index measures how difficult it is for firms to recruit candidates to fill the positions of greatest strategic importance to their companies. For the 10th consecutive month, this index recorded single- digit response levels for those reporting increased difficulty with recruiting. In the manufacturing sector, a net of 4.6 percent of companies reported less difficulty with recruiting (5.6 percent had increased difficulty, 10.2 percent had less difficulty). This still represents a net increase from December 2008, when a net of 16.3 percent reported less difficulty with recruiting.
The results may indicate that some categories of job seekers are finding jobs more quickly now than they were a year ago.
