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

Posted July 05, 2012 by

Good Economic News: Manufacturers Resist Layoffs Despite Sluggish Sales

Planned layoffs fell to a 13-month low in June, as U.S.-based employers announced job cuts totaling 37,551 during the month.  That is down 39 percent from the 61,887 announced job cuts in May, according to the latest report on downsizing activity released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The June total is 9.4 percent lower than the 41,432 planned job cuts announced during the same month a year ago.  It is the lowest monthly total since May 2011, when employers announced plans to eliminate 37,135 workers from their payrolls. (more…)

Posted June 25, 2012 by

Unemployment Rate for 35+ Year Olds Half of Rate for 20-24 Year Olds

Recent reports reveal the challenge older job seekers face in the current hiring environment, with more than one-third of those 55 and older experiencing prolonged joblessness lasting longer than a year.  However, the situation for older workers is not entirely grim.  In fact, a new analysis of employment trends reveals that this segment of the population is enjoying the strongest job gains of any age group.

The analysis of government labor data by global outplacement consultancy Challenger, Gray & Christmas, Inc. found that job seekers age 55 and older account for nearly 70 percent of the employment gains since January 1, 2010. (more…)

Posted May 31, 2012 by

Computer Sector Leads Job Cuts for May 2012

Job cuts increase in the month of May, leaving the computer industry hurting the most.

In May, the nation’s employers announced plans to cut 61,887 workers from their payrolls, the most since last September when layoffs totaled 115,730, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

The May job-cut total was up 53 percent from the 40,559 planned layoffs announced in April.  It was 67 percent higher May 2011, when employers announced job cuts totaling 37,135.  This marks the fourth year-over-year increase in monthly job cuts in 2012. (more…)

Posted May 18, 2012 by

7 Tips For Getting the Most Out of Your Internship

With most of the nation’s colleges and universities quickly nearing the end of the spring semester, tens of thousands students and new graduates across the country are preparing to embark on summer internships, which are increasingly vital to career development.  However, one workplace authority warns that many interns will fail to maximize the experience and convert it into a full-time position.

John Challenger of Challenger, Gray & Christmas“Internships are more important than ever.  We are at a point in this recovery where job gains are finally gaining momentum, but, overall, employers remain cautious when it comes to hiring.  They want to ensure that they are bringing in the most talented candidates who mesh will with the company and its workers.  Internships offer an ideal on-the-job testing ground that more and more employers rely on for identifying and recruiting entry-level workers,” said John A. Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas, Inc.

“The problem is that many interns simply show up every day, put in their hours and never give any thought about how to get the most out of their short time with the employer and taking the extra steps necessary to turn this temporary position into a full-time one,” he added.

According to an outlook released earlier this year by Challenger, Gray & Christmas, the entry-level job market has improved steadily over the last two years.  However, the competition for these positions remains fierce and having internship experience is a must on any resume.  The latest data shows that the number of internships being offered is on the rise. (more…)

Posted May 03, 2012 by

Job Cuts Up 11.2% Largely Due to Government, Education Layoffs

John Challenger of Challenger, Gray & ChristmasThe pace of downsizing remained virtually unchanged in April, as U.S.-based employers announced planned job cuts totaling 40,559 during the month. That is a 7.1 percent increase from 37,880 job cuts announced in March, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

April job cuts were up 11.2 percent from the same month a year ago, when employers announced 36,490 planned cuts, the lowest monthly total recorded in 2011. (more…)

Posted April 25, 2012 by

More Jobs Available For Teens Yet Fewer Teens Looking for Jobs

John Challenger of Challenger, Gray & ChristmasThe job market is starting to improve around the country, albeit faster in some areas than others.  The accelerating recovery should prove beneficial to teenagers seeking employment this summer, as they are likely to face less competition from older, more experienced job hunters.  However, a new outlook on the summer job prospects for teenagers reveals that fewer are actually seeking these seasonal positions.

Summer employment among teenagers is projected to increase over last year’s better-than-expected gains, according to the annual teen summer employment outlook released Tuesday by global outplacement firm Challenger, Gray & Christmas, Inc. (more…)

Posted April 18, 2012 by

Best Fields for 2012 Grads Are Accounting, Finance, Engineering, and Computer Science

As the economy continues to slowly improve, so do the prospects for entry-level job candidates who are expected to benefit from companies’ need to rebuild “bench strength” after cutting millions of workers during the recession. However, while this year’s crop of 1.7 million college graduates should fare slightly better than last year’s, the job market will remain fiercely competitive, according to a new outlook from global outplacement consultancy Challenger, Gray & Christmas, Inc.

The college graduates who are likely to have the most success are those with the flexibility to go wherever the jobs are and those seeking positions in the occupations expected to see the most growth over the next decade. Among the top fields are accounting and finance, engineering, computer science, sales and marketing, elementary education, and health care and social services. (more…)

Posted March 12, 2012 by

March Madness Costs Employers 3.75 Million Hours Per Day

With the field of 68 teams now selected for the NCAA Division 1 men’s basketball championship tournament – affectionately known as March Madness – companies around the country are preparing for is likely to be a week with noticeably diminished productivity as workers begin the annual tradition of organizing office pools, filling out brackets and watching streaming broadcasts of the games from their desks.

John Challenger of Challenger, Gray & Christmas“Monday could be particularly dreadful on the productivity front, as a new study out today from a Penn State University assistant professor suggests that the loss of sleep stemming from the annual change to daylight savings time results in workers to spend more time than normal surfing the web. The ‘cyberloafing,’ as it has been coined, could be particularly robust today as many workers take to the Net to research teams and study match-ups in an attempt to generate a winging office pool bracket,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas. (more…)

Posted March 08, 2012 by

Planned Layoffs Virtually Unchanged in February

The number of planned layoffs remained virtually unchanged in February, as U.S. employers announced workforce reductions totaling 51,728 during the month, down slightly (3.3 percent) from the 53,486 layoffs recorded in January, according to the latest job-cut report released Thursday by global outplacement firm Challenger, Gray & Christmas, Inc.

Last month’s total was up 2.0 percent from a year ago, when employers announced 50,702 job cuts in February. Overall, the pace of downsizing is up 18 percent over last year, with 105,214 job cuts announced through the first two months, compared to 89,221 during the same period in 2011.

What may stand out most about 2012 job cuts so far is not the number of layoffs, but the source. Last year, job cuts in the first two months were dominated by the government sector; a trend that would continue throughout 2011. Through the first two months of 2012, job cuts have been concentrated in consumer products and transportation.

Consumer products firms lead all others in job cuts, having announced 16,320 this year, up 351 percent from the 3,621 announced at this point a year ago. The second-ranked transportation sector has seen job cuts increase 616 percent from 2,211 a year ago to 15,835 in 2012. Together, these two sectors account for 32,155 job cuts or 30.6 percent of the year-to-date total. (more…)

Posted March 01, 2012 by

March Madness Means Millions of Lost Hours of Productivity

Kentucky Wildcats MascotThe annual NCAA Division 1 men’s basketball championship tournament, affectionately known as March Madness, kicks off in less than two weeks and companies around the country know what that means: it is time once again to remind employees that streaming live video slows down everyone’s internet speed.

In its annual “study,” that gives legitimate scientific studies a bad name, outplacement firm Challenger, Gray & Christmas, Inc. predicts that while March Madness will not be the downfall of the American economy, it could result in millions of hours in lost productivity, or at least diminished productivity, as workers across the nation take time from their work schedules to watch games online, check scores and manage their office pool brackets. (more…)