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

Posted January 09, 2014 by

More Good News: Monthly Layoffs Lowest in 13 Years

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

Announced job cuts fell to the lowest level of the year in December as U.S.-based employers reported plans to reduce payrolls by 30,623 during the month. That was down 32 percent from a November total of 45,314. For the year, job cuts were down about 3.0 percent from 2012, according to the latest report on monthly job cuts released Thursday by global outplacement consultancy Challenger, Gray & Christmas, Inc.

The December total was six percent lower than the 32,556 job cuts announced in the same month a year earlier, marking the third consecutive year-over-year decline. Last month was not only the lowest job-cut month in 2013; it was, in fact, the lowest job-cut month in more than 13 years. The last time employers announced fewer job cuts was June, 2000, when 17,241 planned layoffs were recorded. (more…)

Posted April 05, 2013 by

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

Bureau of Labor StatisticsA 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. (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 08, 2013 by

Economy Added 236,000 Jobs Despite Expectations of Only 160,000

Bureau of Labor StatisticsThe U.S. economy added 236,000 jobs in February. According to the Wall Street Journal, economists had forecast that payrolls would rise by 160,000 and the unemployment rate would fall to 7.8 percent. In related news,  the unemployment rate fell two-tenths of a percentage point to 7.7 percent, the lowest level since the end of 2008.

Total nonfarm payroll employment increased by 236,000 in February, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in professional and business services, construction, and health care. (more…)

Posted February 02, 2013 by

Despite More Government Layoffs, 157,000 Net New Jobs Added in January

Bureau of Labor StatisticsTotal nonfarm payroll employment increased by 157,000 in January, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported yesterday. Retail trade, construction, health care, and wholesale trade added jobs over the month.

Household Survey Data

The number of unemployed persons, at 12.3 million, was little changed in January. The unemployment rate was 7.9 percent and has been at or near that level since September 2012. (more…)

Posted January 04, 2013 by

Employers Add 155,000 Jobs in December; Private Sector Up 168,000

Bureau of Labor StatisticsU.S. job growth slowed slightly in December as Congress fought over tax increases and spending cuts. In a nutshell, the report was quite positive as U.S. nonfarm payrolls increased by a seasonally adjusted 155,000 last month, the U.S. Bureau of Labor Statistics reported earlier today. Given population growth, that’s about how many jobs need to be added to the economy in order to keep the employment rate steady. In 2012, job gains averaged 153,000 per month, the same as in 2011. In December, employment rose in health care, food services and drinking places, construction, and manufacturing.

Health care employment increased by 45,000 over the month, with gains in ambulatory health care services (+23,000), in hospitals (+12,000), and in nursing and residential care facilities (+10,000). Health care added 338,000 jobs over the past 12 months.

Employment in food services and drinking places rose by 38,000 in December. In 2012, the industry added an average of 24,000 jobs per month, essentially the same as in 2011.

Construction employment rose by 30,000 in December, with gains in construction of buildings (+13,000) and in residential specialty trade contractors (+12,000).

In December, manufacturing employment grew by 25,000, with small gains in a number of component industries. In 2012, manufacturing added 180,000 jobs; most of the growth occurred during the first quarter of the year.
Within retail trade, employment in clothing and accessories stores fell by 19,000 in December, following gains that totaled 55,000 over the prior 3 months. In December, employment continued to trend up in automobile dealers and in food and beverage stores.

Average hourly earnings of all employees on private nonfarm payrolls rose by 7 cents in December to $23.73. Over the past 12 months, average hourly earnings have risen by 2.1 percent. From November 2011 to November 2012, the Consumer Price Index for All Urban Consumers (CPI-U) increased by 1.8 percent.

Most major indicators from the survey of households showed little or no change in December. The unemployment rate, obtained by a separate survey of U.S. households, was 7.8 percent, the same as the November figure. The rate has been at or near that level since September. In December, the number of unemployed persons was little changed at 12.2 million. Among the unemployed, 39.1 percent had been jobless for 27 weeks or more. The employment-population ratio, at 58.6 percent, also was essentially unchanged over the month, and the labor force participation rate held at 63.6 percent.

Among persons who were neither working nor looking for work in December, 2.6 million were classified as marginally attached to the labor force, about unchanged from a year earlier. These individuals wanted a job, were available for work, and had looked for a job within the last 12 months. The number of discouraged workers, a subset of the marginally attached who believed that no jobs were available for them, was little changed in December from a year earlier at 1.1 million.

Posted January 03, 2013 by

December Layoffs Lowest Since 1997

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

After three consecutive months of  increased layoff activity, the number of  planned job cuts announced in December plunged to 32,556, the second lowest monthly total of 2012.  Overall, the year ends with the lowest 12-month job-cut total since 1997, according to the latest report from global outplacement consultancy Challenger, Gray & Christmas, Inc.

The 32,556 planned job cuts announced last month were 43 percent fewer than the 57,081 November cuts.  The December total was 22 percent lower than a year ago, when employers announced 41,785 in the final month of the year.  The only month in 2012 to see fewer job cuts than December was August, when job cuts totaled 32,239.

Despite the December decline, planned layoffs in the fourth quarter were up 33 percent from the previous quarter.  Employers announced 137,361 job cuts in the final three months of year, compared to 102,910 in the third quarter.  The third-quarter total was the lowest quarterly total since 81,568 job cuts were announced in the second quarter of 2000. (more…)

Posted December 07, 2012 by

Despite Hurricane Sandy, Jobs Up 146,000 and Unemployment Down From 7.9 to 7.7%

Bureau of Labor StatisticsTotal nonfarm payroll employment rose by 146,000 in November, and the unemployment rate edged down to 7.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment increased in retail trade, professional and business services, and health care.

Hurricane Sandy made landfall on the Northeast coast on October 29th, causing severe damage in New Jersey, New York, and other states. Nevertheless, the BLS survey response rates in the affected states were within normal ranges. Its analysis suggests that Hurricane Sandy did not substantively impact the national employment and unemployment estimates for November.
(more…)

Posted December 06, 2012 by

Looting of Hostess by Management, Shareholders Cause National Layoffs in November to Increase Rather Than Decrease

Rick Cobb, executive vice president Challenger, Gray & Christmas

Rick Cobb, executive vice president Challenger, Gray & Christmas

Job cuts increased for the third consecutive month in November, as employers announced plans to shed 57,081 workers from their payrolls.  That was up 20 percent from the previous month when announced layoffs totaled 47,724, according to the latest report from global outplacement consultancy Challenger, Gray & Christmas, Inc.

November cuts were 34 percent higher than the 42,474 job cuts announced by employers in the eleventh month of 2011.  Last month was only the fourth time this year that job cuts exceeded 50,000.  (more…)

Posted November 02, 2012 by

Employment Report Blows Away Estimates; Aug & Sep Revised Upward Too

Bureau of Labor StatisticsThe consensus of economic forecasts for today’s payroll report was that in October the U.S. would have added about 125,000 jobs and that the unemployment would slightly increase from 7.8 to 7.9 percent due to an increase in the number of people in the labor force. The unemployment rate announced today by the U.S. Bureau of Labor Statistics was the same as forecast, but the total number of jobs created was almost 37 percent higher as 171,000 net, new jobs were created in October. Further bolstering the strength of the report was that BLS also announced that some 84,000 more net, new jobs were created in August and September than previously estimated.

Total nonfarm payroll employment increased by 171,000 in October, and the unemployment rate was essentially unchanged at 7.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, health care, and retail trade.

Hurricane Sandy

Hurricane Sandy had no discernible effect on the employment and unemployment data for October. Household survey data collection was completed before the storm, and establishment survey data collection rates were within normal ranges nationally and for the affected areas.

Household Survey Data

Both the unemployment rate (7.9 percent) and the number of unemployed persons (12.3 million) were essentially unchanged in October, following declines in September. (more…)