This is a scary report, if I ever saw one:
Thanks to Hugh Anderson for sharing.
This is a scary report, if I ever saw one:
Thanks to Hugh Anderson for sharing.
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Information released by CareerCast.com/JobSerf Employment Index:
The CareerCast.com/JobSerf Employment Index rose to 92.3 in April, the third month in a row that the Index showed an improving job market. The last time the Index, which measures managerial hiring activity online, was higher was in August 2008, prior to the current recession.
“These levels are a strong signal that job activity has rebounded and recent improvements were not a temporary spike due to a backlog in hiring,” says Jay Martin, COO, JobSerf.
“Although there is still a certain amount of economic uncertainty, it seems as though the worst is over,” says Tony Lee, publisher, CareerCast.com. “When the economy does finally turn around, there should be a surge in jobs at all levels as companies look to rebuild their organizations.”
All areas of the country improved in April, except for a slight decline in the Southwest (down 2.6 to 94.9).
Tampa had the most managerial hiring growth in (+19%), followed by Atlanta (+16%), and Nashville (+15%), Rising 13% were Hartford, Louisville, and Riverside, Calif., which even with a double-digit increase still remains the city with the least recruitment activity. Only two cities showed no improvement this month — Cleveland and Detroit.
The five best cities to find a job include Washington, D.C. (162), Boston (123), San Francisco (98) , Seattle (84) and Atlanta (80), while the worst cities to find a job include Riverside (17), Detroit (27), Memphis (29), Louisville (36) and Tampa (38, despite significant gains in April). These values represent jobs per capita.
The CareerCast.com/JobSerf Employment Index is an exclusive barometer showing managerial hiring activity based on the number of jobs posted online nationally. The Index reveals the differences in job listings by month, and offers valuable trends and forecasts using proprietary employment data hand-counted by a team of researchers.
Click here to read the full report.
Nevada has been taking a beating….high unemployment levels, foreclosures, budget crisis …you name it. As the saying goes: we are at the top of every bad list and the bottom of every good list.
Well, a recent report from the U.S. Bureau of Economic Analysis now shows that Nevadans pay decreased more than any other state but Wyoming. In 2009 Nevada pay dipped 5.8 percent. Here is how we compared to the other loser states:
This surely is not good for those currently employed or those looking for jobs in Nevada.
There has been lots of talk of a jobless recovery. During this economic recession, employers have cut deeper than ever and have gutted their workforces. The fat is gone and many have dismembered limbs and chipped bone. And along the way……new efficiencies have been found.
So as the economy recovers, there has been plenty of talk about how jobs lost will be replaced with temporary or part-time jobs. Many of the full-time jobs simply will not return. Workers will more than likely accept part-time work in place of full-time just to keep some income coming in the door.
So will part-time work be come the new norm? Will people succumb to working two or three part-time jobs to bring home enough money? It appears that way.
At the job board conference I attended a few weeks back, Kevin Wheeler spoke of job boards re-positioning themselves to become “ways to earn a living board,” stating that we should be offering part-time, contract work and even entrepreneurial opportunities.
We are considering making some tweaks to our board to accommodate the new economy. I would love to hear your feedback or opinion as we make these adjustments.
If you want to read a very information article on Nevada being Down and Out: Salary and job outlook for Nevadans goes from bad to worse with little relief in sight….take the time to read the article written by Jennifer Robison from the Las Vegas Review Journal. Basically, only two industries saw job growth in the past two years. Others took massive hits. Check out the below:
All I have to say is…..Eds & Meds, Eds & Meds, Eds & Meds.
A new survey shows that four of ten residents are looking to leave Las Vegas. This surely is not good news. And it is all due to the loss of jobs in Las Vegas. Las Vegas has boomed during the good times and we are falling hard during the bad. Most of this has to do with our lack of economic diversification.
I had the opportunity to see another presentation from the Brooking Institute again this morning. We all need to pay attention to this and get on-board. Las Vegas, and Nevada, has the opportunity to leverage what we do have and build a World Class city in the future so we do not have these boom and bust cycles.
It all starts with job creation. And I would suggest more health care jobs in Nevada and education jobs in Las Vegas.
Read the article from the Las Vegas Sun.
A new report was released by Brookings Institute this week listing the cities hit hardest by the recession. Las Vegas was listed as #10.
According to the report:
Nevada’s Las Vegas-Paradise metro area had the tenth-worst decline in employment during the recession, falling 9.8 percent from peak quarter to fourth quarter 2009. And between the third quarter and fourth quarter of last year, the area’s employment continued its drop — more than any other metropolitan area in the country.
Clearly this is not good news for Nevada, but a realtity we must face. Thousands of Las Vegas construction jobs have been lost over the past two years as the financial markets collapsed and building on the Strip (except City Center) virtually stopped.
An index that measures the Las Vegas economy through the spring edged up slightly in January, a reflection that job losses in Las Vegas are starting to moderate, according to the Center for Business and Economic Research at UNLV.
The index rose 0.69 percent to 126.38 as convention attendance in November rose 25 percent over October. The index measures economic data in November and is a six-month forecast through May 1.
“Over the past several months, the index has leveled off, suggesting that the massive job losses experienced in Southern Nevada in the past 18 months are beginning to moderate,” said Mary Riddel, the center’s interim director.
That said, it doesn’t suggest a rosy employment picture.
The construction sector, taxable sales and conventions have dragged the index down, Riddel said.
The new hotel room additions at CityCenter are likely to cannibalize occupancy at existing properties, causing more bad news in the form of hotel bankruptcies down the road, Riddel said.
The Review Journal was kind enough to cover a lunch presentation I delivered to Technology Business Alliance of Nevada:
The Las Vegas Valley’s job market isn’t likely to return to expansion in 2010, and that means continued struggles for a high-tech sector that local officials have tried to expand for more than a decade, a local recruiting expert told a technology trade group Wednesday.
Still, long-term opportunities for growth exist, as baby boomers look toward retirement and the city’s high-tech infrastructure lures businesses to Las Vegas, said Doug Geinzer, director of online classified advertising for Recruiting Nevada and Greenspun Media Group. In fact, four of the 10 job categories expected to grow fastest in Nevada through 2016 are tech-related jobs, Geinzer told 50 attendees at a monthly luncheon that the Technology Business Alliance of Nevada held inside Bali Hai Golf Club.
Despite long-range growth trends, immediate challenges remain in 2010, Geinzer said.
Even in the best of times, the valley’s tech sector has faced trouble getting off the ground.
Geinzer took the crowd back to 1999 and 2000, describing how city officials and economic diversification agencies coined the term Silicon Oasis to describe the high-tech haven they hoped to create here. Geinzer reeled off a list of once-hot local technology companies: PurchasePro, TravelScape, MGC Communications, Systems Research & Development, Hello Network, Global Technologies — these companies and more held the promise of thousands of local technology jobs. Entrepreneurs formed the Internet Business Alliance of Nevada, later rebranded the Technology Business Alliance of Nevada, to promote the high-tech sector and help bring talent here.
But the hype couldn’t survive a string of historic events.
The dot-com bust of 2001 dried up capital for tech expansion, and many high-flying startups either closed or sold out to existing companies in other states. The alliance and the Nevada Development Authority had to scrub the launch of a major new recruiting and promotion drive with a debut scheduled for the evening of Sept. 11, 2001. And once the gaming industry rebounded from its post-9-11 malaise and began posting record visitation and gaming wins, concerns about economic diversification fell to the wayside, taking interest in high-tech investment with it, Geinzer said.
We don’t need to tell you the resort and construction boom didn’t last, but Geinzer provided numbers showing just how significantly the city’s fortunes reversed.
The state Department of Employment, Training and Rehabilitation had projected 145,000 new jobs in Las Vegas between 2007 and 2010, partly because of anticipated expansion along the Strip. But since the recession’s beginning in December 2007, employers in Las Vegas have shed 125,000 jobs. That means the gap between where state economists expected employment to be and where it actually is comes to roughly 270,000 positions, Geinzer noted. Observers expect employers to cut another 50,000 jobs in Las Vegas in 2010, he added.
Nor has CityCenter provided the work-force boost experts had hoped for.
Geinzer, who helped MGM Mirage with CityCenter’s online recruiting efforts, said roughly a third of CityCenter employees came from other MGM Mirage properties. MGM Mirage has been slow to back-fill those vacancies, so the 12,000 jobs CityCenter was supposed to create is more like 8,000 to 10,000 jobs so far, he said. That’s before you include the 9,000 construction workers who lost their jobs once the resort opened.
But opportunities to move up through the work force will emerge. People over 55 make up more than 35 percent of the city’s labor pool, Geinzer noted. Seniors have clung to the job market because their investments shrank during the recession, but when the economy rebounds, you can expect many of those workers to retire.
Plus, Southern Nevada’s fiberoptics networks and other technology infrastructure position Las Vegas well to take advantage of some fast-growing technology businesses. For example, the federal government has committed at least $19 billion to efforts to digitize medical records. Las Vegas’ telephone and Internet companies have laid copious amounts of wire for telecommunications, data transfer and other high-tech functions, and that should help make Las Vegas a leader in electronic health records. Geinzer said he’s working with an East Coast company seeking a West Coast hub for such an operation; the business would bring positions that require “high levels of sophistication — people who know how to manage data and build major data warehouses,” Geinzer said.
“Because we don’t have the old infrastructure that some other cities have, we have the opportunity to be a leader in this charge,” he added.
The state employment department has placed four technology-related fields on its list of the 10 fastest-growing jobs through 2016. Earning the top spot for projected growth: network systems and data communications analyst. The state expects the ranks of such analysts to jump 5.6 percent through 2016. Two different types of computer software engineer take up Nos. 3 and 4, with both set to expand their jobs base by 5.1 percent. Coming in at No. 7 is network and computer systems administration, which is expected to increase its work force by 4.7 percent.
Green jobs should also lend Nevada’s high-tech economy a helping hand, Geinzer said, but job seekers shouldn’t expect to find those opportunities anytime soon.
“A lot of funding (for green jobs) was just released through stimulus funds, but the reality is, it’s going to take a while for those jobs to come about,” he said. “So Nevada still is in for some rough times. This year is not going to be the breakthrough year from an employment standpoint.”
By Cy Ryan
CARSON CITY – For the second consecutive month, Nevada placed second in the nation for its unemployment rate, trailing only Michigan.
The U.S. Department of Labor said today Nevada’s rate of 13.3 percent was second to Michigan’s 15.3 percent in September.
The state reported Tuesday there were 190,700 workers who were jobless in September. And the 13.3 percent is a record for the state.
The labor department said the national rate was 9.8 percent. Rhode Island posted a 13 percent jobless rate and California reported a 12.2 percent unemployment rate. Lowest in the nation was South Dakota at 4.8 percent.
A year ago in September, Nevada’s rate was 7.3 percent.
William Anderson, chief economist for the state Department of Employment, Training and Rehabilitation, says the construction industry has been hit the hardest in Nevada in the downturn of the economy.
The gaming and hotel business added 77,300 Las Vegas jobs during the 10-year period ending in 2007. But in the last two years 30,000 of those jobs have been eliminated.
“The much-anticipated opening of the CityCenter project in Las Vegas should help ease job losses in the months ahead, but the industry as a whole, the negatives continue to outweigh the positives,” Anderson said.
The labor department said Nevada’s unemployment rate in 2007 was 4.7 percent. That was the 35th highest in the nation. The national average that year was 4.6 percent.