Video: What Motivates Us to Work? Constant Progress and Sense of Purpose, Not Money or Joy.

What motivates us to work? Contrary to conventional wisdom, it isn’t just money. But it’s not exactly joy either. It seems that most of us thrive by making constant progress and feeling a sense of purpose. Behavioral economist Dan Ariely presents two eye-opening experiments that reveal our unexpected and nuanced attitudes toward meaning in our work.

It’s become increasingly obvious that the dismal science of economics is not as firmly grounded in actual behavior as was once supposed. In “Predictably Irrational,” Dan Ariely tells us why. Continue Reading

Despite 500,000 Leaving Employment Market, Job Openings Surge by 300,000

Last week’s employment report was quite disappointing as only 88,000 net jobs were created. The unemployment dropped from 7.8 to 7.7 percent, but the reason was that some 500,000 people left the labor force. If you’re not employed and not looking for employment then you aren’t counted in the ranks of the unemployed. Some of those who left the workforce came from the increasing number of Baby Boomers reaching retirement age but pretty clearly many came from those who would prefer to be working but gave up their search after reaching the conclusion that it was fruitless.

Today, the U.S. Bureau of Labor Statistics issued a report that should provide some comfort to those who are still looking for work as well as those who stopped but may re-start their search. According to the BLS, there were 3.9 million job openings on the last business day of February, up from 3.6 million in January, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) and separations rate (3.1 percent) were little changed in February. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by geographic region. Continue Reading

The Hype Over Job Board Matching Technology Is Just That: Hype

Garbage in, garbage out photo courtesy of Shutterstock

Perhaps prompted by a recent article by Bloomberg about on-line job search software getting smarter, it seems that a lot of attention this week is being devoted to matching technology being used by job boards. In theory, matching technology makes a lot of sense as it would allow employers and job seekers to save time finding each other and reduce the noise by reducing and perhaps eliminating contact between employers and job seekers whose needs are different. But is theory the same as reality?

A number of people in the job board industry for whom I have tremendous respect are writing that candidates should be able to just submit their resume and have it turned into a search query. Some even advocate taking the search entirely out of the hands of the candidate by using computerized algorithms to “read” jobs posted by employers and resumes posted by candidates and then returning to the employer a list of what the software considers to be highly qualified candidates. The problem with either approach and especially the latter is that they assume that both are forward looking, the job posting is well written, and the resume is well written. The problem is that for the software to work properly all must be true yet generally none are true. Continue Reading

Only 88,000 New Jobs Added in March; Economists Predicted 200,000

A cynic might say that the news out of Washington, D.C. is rarely good but today that cynic would be correct. The U.S. Department of Labor released its monthly employment report today and the news was quite disappointing. The U.S. economy added only 88,000, nonfarm jobs in March. Economists had predicted an increase of 200,000. The biggest loser? Retail. In related news, fewer people started looking for work during the month so the number of unemployed people hardly moved (now 11.7 million) and the unemployment rate fell but only slightly from 7.7 to 7.6 percent.

Household Survey Data

Among the major worker groups, the unemployment rates for adult men (6.9 percent), adult women (7.0 percent), teenagers (24.2 percent), whites (6.7 percent), blacks (13.3 percent), and Hispanics (9.2 percent) showed little or no change in March. The jobless rate for Asians was 5.0 percent (not seasonally adjusted), little changed from a year earlier. Continue Reading

23% of Employers Plan to Hire Additional Workers in Q2

Matt Ferguson, CEO of Careerbuilder

Stable hiring is expected for the second quarter as U.S. employers continue to size up a market that is producing moderate economic growth, according to CareerBuilder’s latest job forecast. Twenty-six percent of employers plan to increase full-time, permanent headcount in the next three months, similar to projections for the previous two quarters, but trending below Q2 estimates last year.

The national survey, which was conducted online by Harris Interactive^© from February 11 to March 6, 2013, included more than 2,000 hiring managers and human resource professionals across industries and company sizes.

“The U.S. job market is in a better place today, but concerns over spending cuts, wavering global economies and other factors are weighing on employers’ minds,” said Matt Ferguson, CEO of CareerBuilder. “We expect continued stability and improvement as the year goes on. When we look at listings on CareerBuilder.com, job growth isn’t confined to technology and healthcare and other areas that have fared well post-recession. The rebound in the housing sector is having a positive influence on job creation for related industries that have been struggling.” Continue Reading

Increased Layoffs in Q1 Led by Retail, Government Woes

John Challenger of Challenger, Gray & Christmas

The nation’s employers reported job cuts totaling 49,255 in March, a decline of 11 percent from the 55,356 cuts announced in February, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.  Despite the decline, quarterly job cuts reached their highest level since 2011.

March job cuts were 30 percent higher than a year ago, when employers announced plans to shed 37,880 workers from their payrolls.  This marks the second consecutive month and the fourth time in the last six months that the job-cut total was higher than the year-ago figure.

Employers have now announced 145,041 job cuts through the first three months of 2013.  That 5.6 percent higher than the previous quarter’s 137,361 job cuts and 1.4 percent higher than the 143,094 job cuts announced in the first quarter of 2012.  The first-quarter total is, in fact, the highest quarterly tally since 233,258 job cuts were tracked in the third quarter of 2011. Continue Reading

Private Sector Employment Increased 158,000 in March

Mark Zandi, chief economist of Moody’s Analytics

Another good month of employment reports, this time from ADP and Moody’s Analytics. The report, which is derived from ADP’s actual payroll data, measures the change in total nonfarm private employment each month on a seasonally-adjusted basis. Revisions to job gains in the two prior months were offsetting; February’s gain of 198,000 jobs was revised up by 39,000 to 237,000, and January’s 215,000 gain was revised down by 38,000 to 177,000.

Goods-producing employment rose by 7,000 jobs in March, its slowest pace of growth in six months. Construction added no net jobs over the month; this follows average monthly gains of 29,000 in the three months prior. Meanwhile, manufacturers added 6,000 jobs.  Continue Reading

80% of Job Openings Are Unadvertised

Photo courtesy of Shutterstock

I was recently quoted by the Wall Street Journal as saying that 80 percent of job openings are unadvertised. Several people have contacted me to ask where I got that number. Some believe that only 70 percent of job openings are unadvertised. So where did I get 80 percent from?

As well stated on the Jobfully blog, the number bounces around a bit year-to-year and even month-to-month depending upon the state of the labor market and is indirectly reported by the U.S. Bureau of Labor Statistics in their monthly Job Openings and Labor Turnover Survey (JOLTS). The survey reports these numbers: Continue Reading

32% of Employers Hiring College Grads for Jobs Once Reserved for High School Grads

Brent Rasmussen of Careerbuilder

Need another reason to stay in school after high school and get a degree from a one-, two-, or four-year college or university?

A recent survey illustrates just how important higher education has become to employers in virtually every industry. Employers have historically looked for educated labor to fill high skill positions but now more and more report that they’re also demanding post-secondary degrees from candidates who wish to fill lower skill jobs as well. Thirty-two percent of hiring managers and human resource professionals said they are hiring more employees with college degrees for positions that were historically held by high school graduates. While this trend is most prevalent among financial services organizations, it spans across various industries: Continue Reading

CollegeRecruiter.com Named a Best Job Site for Students by About.com

MINNEAPOLIS, MN, March 28, 2013 – About.com recently surveyed its users to ask them to nominate and then vote for the best job and career sites in the following categories: Best Job Site, Best Job Site for Students, Best Career Blog, Best Career Networking Site, Best Site for Company Information, Best Resume Site, Best Salary Site, Best Facebook App for Job Searching, and Best Mobile App for Job Searching. According to the results just announced by About.com Guide Alison Doyle, CollegeRecruiter.com was selected as one of the five best job sites for students.

“We’re always happy to receive positive recognition by a large group of job seekers,” said Steven Rothberg, president and founder of CollegeRecruiter.com. “It is even sweeter when we receive an award such as the About.com Readers’ Choice because About.com is such a wonderful, time tested source of information about tens of thousands of topics.” Continue Reading