New survey finds companies with plans to slow job cuts, but planning additional cost
reductions while positioning for future economic recovery.
It's possible that -- at least for some firms -- the layoffs, forced retirements, and other
rightsizing may have reached its peak and we are down on the downside... meaning that
there will still be layoffs, but moving into a period of time when the labor market
is in transition with an eye toward recovery. A total of 41 percent of employers who
have already cut their workforce reported they may need to do it again in the next 12
months, depending on the economy.
According to a survey released today from Watson Wyatt Worldwide, a workforce consulting firm,
the percentage of companies planning initial staff in the next 12 months fell to 5 percent
in April -- down from 13 percent in February. Furthermore, a total of 72 percent of the
employers surveyed reported already reducing their workforce -- up from 52 percent in the
February report.
While some employers are still hiring, 72 percent of the responding companies reported
having a hiring freeze.
April 13, 2009
While the outlook for new college grads is as grim as for all job-seekers, there is
hope for those willing to put in the effort.
In a column in The New York Times,
All Is Not Lost for the Class of 2009
Eilene Zimmerman interviews some of our favorite career experts -- Lindsey Pollak and Steven Rothberg --
seeking tips for new college grads who find a recruiting and employment landscape unlike anything
we have seen for decades.
The advice boils down to these issues:
A comprehensive job-search strategy is essential in this market.
Finding a job is going to take a lot more effort than you ever imagined.
Use multiple sources, including niche job sites and your college's career service office, for job leads.
Be prepared to be flexible in the type of job you seek.
Consider taking a job for which you are overqualified if you need to survive -- but don't stop job-hunting
for a career-type job.
Some advice missing from the column. First, use ALL avenues for job leads, including on-campus,
local, and virtual career fairs... and most notably missing from the piece -- use and expand your
network of contacts to help uncover job leads -- and not just the easy online variety, such as
Facebook or LinkedIn... you need to connect with people offline (and in-person).
Furthermore, according to a study by the National Association of Colleges and Employers (NACE),
among the skills, attributes, and qualities employers prize most are communication skills,
a strong work ethic, ability to work in a team, and initiative. Employers also emphasize
leadership experience. Asked to compare two otherwise equally qualified candidates, employers
chose the one who had held a leadership position over the candidate who simply participated
in extracurricular activities. Employers also expressed a preference for candidates with
relevant work experience.
Finally, the proof that college grads can find positions if they work at it as they would an
actual job, we offer the story of our QuintCareers.com intern, Erin, who put in hours and hours
tracking down jobs leads and then attacking each one with such vigor that she impressed every
employer she spoke with. She also spent hours on each resume and interview preparation.
She now has a job offer in hand -- with a month to go before graduation.
Uncovering job leads is the name of the game in finding your ideal job. Learn more in our
article, 10 Ways to Develop Job Leads.
April 3, 2009
March employment numbers in the U.S. finds continuing job losses, a higher unemployment
rate, and people working fewer hours.
The U.S. Labor Department released March employment numbers, reporting that 663,000 jobs
were lost in March, with unemployment jumping to 8.5 percent -- the highest level since 1983.
As has been the trend in recent months, every sector except healthcare and education lost jobs.
Job losses in March were broad based, with only education and health services adding jobs.
Manufacturing cut 161,000 jobs; construction lost 126,000 jobs; services cut 358,000 positions.
Even the government lost 5,000 jobs
It should be noted, that these job losses were expected -- as job creation follows a recovery...
and while there are signs the economy has possibly hit bottom, the job picture is still not
expected to improve until later this year.
Furthermore, the Labor Department released revised job loss numbers for January -- reporting job
losses of 741,000, the biggest decline since October 1949.
The last time the unemployment rate was as high as 8.5 percent was in November 1983, at a time
when unemployment was declining following the deep 1981- 82 recession that saw unemployment
peak at 11 percent.
Finally, the length of the workweek fell to 33.2 hours in March, the lowest on record.
April 1, 2009
Finding a job in this economy is possible, but it takes a smart job-search
approach combined with hard work and persistence.
As we stress in many of our articles and tutorials, job-seekers who truly want or need to find
a new job must break bad habits or misconceptions -- moving beyond the general job boards that
are a waste of your time and efforts and concentrating on job-search techniques such as
networking that will land you real job leads.
A recent story in Fortune tells the story of Rob, a sales professional who lost his job,
but focused on networking to uncover job prospects. While it took seven -- yes, seven --
interviews, he landed the new job.
Read the full story.
Quintessential Resume & Cover Letter Tips Blog,
a blog from another part of the QuintCareers Network, with new resume and cover letter tips daily. A must-see for any active job-seeker.
The Career Doctor Blog,
a blog from another part of the QuintCareers Network, where each day our own Career Doctor Randall Hansen answers one career, job, college, or workplace question.
and reassurance.
The Occupational Adventure
Blog, from Curt Rosengren, a Passion Catalyst. Curt's older blog is great for finding encouraging ideas
(and resources) for moving forward with your career... a career that lights your fire. His newer blog is the
Passion Catalyst -- about loving your work.
Blue Sky Resumes Blog, from career
expert Louise Fletcher, a general career and job-search blog that covers all aspects of the job-hunt.
WorkStrong -- a
candid, completely honest discussion of the job market -- offering information and advice
about what it takes to succeed in the 21st Century world of work. From career and recruitment guru Peter Weddle.
