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The latest news, trends and information to help you with your recruiting efforts.

Posted April 04, 2013 by

Increased Layoffs in Q1 Led by Retail, Government Woes

John Challenger of Challenger, Gray & Christmas

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. (more…)

Posted March 27, 2013 by

1.8 Million 2013 Four-Year College Grads Entering Improving Job Market

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

With college seniors around the nation returning to their respective campuses following spring break recess, many will undoubtedly turn their attention to their impending graduation and the search for their first post-collegiate job.  A new analysis of the entry-level job market estimates that while the job market continues to strengthen for college graduates, the environment remains highly competitive, which may force some to pursue unexpected career paths.

In its annual college graduate job-market outlook, global outplacement consultancy Challenger, Gray & Christmas, Inc. says this year’s crop of 1.8 million bachelor’s degree recipients will be able to take advantage of the 36 consecutive months of private-sector employment growth that has occurred since the jobs recovery began in earnest in March 2010.

“Job creation has been slow, but it has been steady.  Over the past 14 months, private payrolls have grown by an average of 190,000 new workers per month.  There are a growing number of opportunities for job seekers, but the search definitely requires an aggressive approach.  This is especially true for new graduates, who are likely to have less real-world experience to point to in job interviews,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas. (more…)

Posted March 13, 2013 by

Sequestration Far Worse Than March Madness for Job Numbers

John Boehner

U.S. House of Representatives Speaker John Boehner

With the first round of the 2013 NCAA Division 1 men’s basketball championship tournament set to tip off next week, the nation’s employers should be readying themselves for the inevitable drop in productivity that coincides.  One new survey found that nearly one-third of workers spend at least three hours per day following the Tournament during work hours.

In the annual “study” hated by working basketball fans everywhere, global outplacement firm Challenger, Gray & Christmas, Inc., estimates that March Madness will cost American companies at least $134 million in “lost wages” over the first two days of the Tournament, as an estimated 3.0 million employees spend one to three hours following the basketball games instead of working.

“At the end of the day, March Madness will not even register as a blip in the overall economy.  Sequestration is going to have a far bigger impact.  Will March Madness even have an effect on a company’s bottom line?  Not at all,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas. (more…)

Posted March 11, 2013 by

97% of Employers Have No Plans to Eliminate Telecommuting a la Yahoo! and Best Buy

Marissa Mayer of Yahoo!

Marissa Mayer of Yahoo!

When big box retailer Best Buy followed in the footsteps of Yahoo! Inc. by altering its telecommuting policies for employees, some undoubtedly concluded that there would soon be a flood of companies doing the same.  However, a new survey indicates that Best Buy may be in the minority, with the overwhelming percentage of companies planning to maintain their telecommuting policies.

According to the survey, 80 percent of the 120 human resources executives polled said their companies currently offer some form of telecommuting option to employees with 97 percent of them saying there are no plans to eliminate that benefit. 

The survey was conducted by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. in the days following Yahoo’s widely reported and controversial plan to bring work-at-home employees back to the office. (more…)

Posted March 07, 2013 by

Federal Government Budget Woes Lead to Woes in Job Markets

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

Planned job cuts increased for the second consecutive month in February as U.S.-based employers announced workforce reductions totaling 55,356, up 37 percent from 40,430 in January, according to the report released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The February total was 7.0 percent higher than the 51,728 job cuts announced the same month a year ago.  It was the highest monthly tally since last November, when announced layoffs reached 57,081.  (more…)

Posted February 19, 2013 by

Higher Home Prices Likely to Lead to Surge in Employees Quitting Jobs

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

With the recent report on home prices showing the biggest year-over-year gain in more than six years, one employment authority predicts a surge in relocation by job-seeking homeowners in 2013, which could ultimately help to accelerate the decline in unemployment rates.

“One factor that has kept unemployment rates high has been the inability of underwater homeowners to relocate for employment opportunities.  With home prices bouncing back, even those who may now simply break even on a home sale might consider moving to a region where jobs are more plentiful.  This could spark a more rapid decline in the unemployment rate over the next year,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc.  (more…)

Posted February 11, 2013 by

60% of Workers Find Romance in the Workplace

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

The approach of Valentine’s Day may have many human resource managers on the lookout for any evidence of budding or ongoing romances between co-workers or, even worse, between a worker and supervisor.

With some surveys indicating that as many as 60 percent of co-workers, casually dating, hooking up and/or finding love in the workplace, it is an issue that keeps many human resource executives up at night.  “Office romances are fraught with pitfalls that can impact workplace harmony, productivity, more and, in some cases, the bottom line if they end badly and a lawsuit is filed,” noted workplace authority John A. Challenger, chief executive officer of global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc.  (more…)

Posted February 06, 2013 by

Telecommuting Benefits Environment, Worker Productivity, Job Satisfaction, and Profits

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

With a new report detailing the growing cost of daily commuting to and from work, one workplace authority wonders if it is time for the nation’s employers to make a serious commitment to expanding the use of telecommuting strategies.

“Right now, a very small fraction of the nation’s workers who could viably work from home on a regular basis are actually doing so.  By not expanding the use of telecommuting, employers are negatively impacting the environment, worker productivity, job satisfaction and, most importantly, their bottom lines.  And, it is not a lack of technology or other resources that is holding back this expansion.  It is simply a lack of vision, a shortage of trust and an irrational adherence to antiquated notions of how and where work should be done,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc. (more…)

Posted January 31, 2013 by

January Job Cuts 24% Lower Than a Year Ago

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

The nation’s employers announced plans to cut payrolls by 40,430 jobs in January, up 24 percent from 32,556 in December, according to the latest report on planned job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

While January job cuts were up from the previous month, they were 24 percent lower than the 53,486 layoffs announced by employers the same month a year ago.  This was, in fact, the third lowest January total in Challenger records going back to 1993.  The only years to see fewer January job cuts were 1995 (38,962) and 2011 (38,519). (more…)

Posted January 24, 2013 by

How Climate Change Effects the Job Market

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

This week, Cargill Beef announced that it will be shuttering one of its Texas plants as a prolonged drought in the state thins cattle herds to their lowest levels in 60 years. The closure will force the plant’s 2,000 workers to relocate to one of the company’s other plants or find employment elsewhere.

This is not the first time climate change has impacted jobs and it will not be the last, according to workplace authority John A. Challenger, chief executive officer of global outplacement consultancy Challenger, Gray & Christmas, Inc. Challenger forecasts that the impact of climate change on the economy and employment will only increase in the years to come. “Agriculture could be the biggest victim of changing weather patterns brought on by climate change. We are no longer an agriculture-based economy, but the sector still employs between 150,000 and 250,000 workers, depending on the time of year. The other area that could feel pain related to climate change is tourism. Ski resorts in Colorado are already seeing the effects of less snowfall. Not only are skiers seeking deeper powder further north, but the resorts are spending a lot more making artificial snow.” (more…)