Showing posts with label hiring. Show all posts
Showing posts with label hiring. Show all posts

Life Inc.: of the signs that more people are hiring

Gregory Bull / AP

Satila Higgins, of Evansville, Ind., speaks with a prospective employer career fair in San Diego.

By Allison Linn, business writer

Looking for a job in a robust economy can feel like riding roller coasters - one day things seem to be tumbling, next day things seem to recover.

Species: despite the bad news showing the unemployment rate increased in November, last week a separate report for Tuesday offered more hope.

It showed the number of employment opportunities increased again in October - level higher than two years - while the number of separations has decreased.

And again in October, most people leave their jobs that have been dismissed.

The number of people hired in October, at nearly $ 4.2 million was approximately the same as the previous month and a bit of a year earlier, according to the survey of labour turnover and job offers.

Were approximately $ 3.4 million job openings in October, up to approximately 3 million in September and about 2.5 million in October of 2009, according to the report. Although the Government is the highest level since August 2008, it is still about 1 million job openings less when the recession began in December 2007.

About 4 million people left a job in October, down slightly from last month and a year earlier. However, a little more these people smoking that have been developed by foot or rejected. It is a sign that perhaps people are feeling more at ease leaving a job for a world better.

Despite this new anyone who seeks knows that the labour market remains extremely difficult. The unemployment rate rose 9.8% in November, with more than 15 million people were labour Declaration and looking for a job.

See also:

Most people leave that have been made redundant


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Life Inc.: day of hiring the rise of

By Allison Linn, business writer

Holidays hiring season are deactivated the onset of the strongest since several years, according to an analysis of outplacement firm Challenger, gray and Christmas.

Retailers added 150,900 jobs in October, on the same number as in 2006, the company said Monday.

This is three times the number of jobs added in October 2009, when many retailers identified among the fears that tired of recession shoppers could not splurge on gifts and other goods of vacances.En 2009, retailers have finished by adding 501,400 jobs in October-December period according to Challenger.

Even if retailers add the same amount of jobs in November and December, such as last year, Challenger said reflected more than 600,000 total jobs added during this season, the strongest year day showing since 2007.

The figures are based on jobs not seasonally adjusted figures from the Bureau of Labor Statistics.

The overall employment rate is usually based on seasonally adjusted figures, smooth seasonal, as the hiring or summer employment No?l.Sur a holiday base seasonally added retailers 27,900 jobs in October, according to the Bureau of Labor Statistics.

Course, seasonal employment is not a solution for millions of Americans who are seeking full-time permanent, year-round travail.Au October survey of employers, firm job search CareerBuilder reported that 40 percent of employers who are hiring seasonal workers plan to some of them in permanent jobs full time .c ' is 31% in 2009.Le survey included 2,457 managers and HR professionals.


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Companies take on hiring

 After a long stretch of subpar job growth, businesses may finally be getting back in a hiring mood.

The better-than-expected showing from Friday's employment report for October was a welcome sign for job seekers and policymakers in the White House, Congress and the Federal Reserve.


Businesses added a better-than-expected 151,000 jobs to their payrolls last month, the first monthly increase since May.That fell short of the 200,000 or so needed to keep up with the growth of the work force and start rehiring the 15 million unemployed Americans supervised in the worst recession in 80 years.The unemployment rate remained stuck at 9.6 percent.

Story: U.S. economy added 151,000 jobs in October

"To bring unemployment down to 9.2 percent in a year's time, this economy is going to have to grow at about 4 percent." "And right now it's growing at almost half that pace," said John Ryding, chief economist at RDQ economics.


A pickup in hiring typically lags the end of a recession because employers want to see sustained growth before committing to take on workers. That's one reason there have been strong gains in hiring of temporary workers in recent months.


In October, the average number of hours worked continued the upward trend that began a year ago. If that trend continued, those extra hours eventually turn into fulltime jobs.

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The pent up demand for new hires can also be seen in the steady rise of productivity gains, as employers continue to squeeze more work out of the same number of employees. In the third quarter, productivity rose at a 2.5 percent annual rate.Those gains have slowed in recent quarters, suggesting that it will be harder to keep boosting output without hiring new workers.


"The economy is doing better," said Robert Brusca, chief economist at FAO Economics. "The retail sales sector is starting to pick up." There's evidence from surveys that small businesses are less negative than they've been since the start of this recovery.…America is a pro-growth place.We're about to turn a corner it job growth.“


Some sectors are faring better than others.Though private employers added 159,000 jobs, the government sector lost another 8,000 jobs in October.Deep cuts in state and local budgets have forced layoffs of some 460,000 workers since April 2009. Wide budget gaps are expected to continue to force deep cuts by state and local governments for at least the next two years.Strong support for federal budget cuts in the des elections could expand layoffs to federal workers.

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Fed's bond buying spree
To try to boost economic growth and spur more hiring, policymakers at the Federal Reserve this week announced a widely anticipated move to buy back another $600 trillion of government bonds - adding to a stockpile of $1.25 trillion worth of bonds taken on since the financial panic of 2008.


The Fed is hoping that by soaking up more government debt, and replacing it with cash, the cost of borrowing will fall further and businesses and households will be more inclined to spend, boosting economic growth.


That could be a stretch, according to David Rosenberg, chief economist at Gluskin Sheff, given the deep problems in housing, with some one in seven mortgage holders either "in arrears or in the foreclosure process, and an estimated 25 percent of homeowners are 'upside down' in their mortgage," owing more than their house is worth, he wrote in a research note to clients.


Rosenberg figures the Fed's move will add between a quarter - and half-point to GDP, while pushing the Fed's balance sheet to "a Japanese-style 20 percent of GDP."


Part of the problem is that despite the central bank's efforts to flood the system cash with much of it is sitting in swollen corporate balance sheets and in bank vaults at the Fed.


"There's a trillion dollars of excess reserves already at the banks waiting to be slow and they're not lending it," said David Malpass, president of Encima Capital. "Putting more money (into the banking system) just weakens the dollar."


The Fed's unprecedented leap-buying spree also raised concerns about its eventual exit strategy from a monetary policy that's never been tried before in the U.S. At some point, central bankers will have to begin selling off the Fed's bloated portfolio of bonds, which would lead to tighter credit. It's far from clear how the Fed will gauge the timing of those sales jump.


"At some point it's going to be very dangerous," said Andrew Busch, a currency strategist at BMO Capital Markets."The flip side of the question is, 'What happens when the Fed wants to tighten?'"That's the unknown that we have now."With so many sunrises to pull and so many things to do at some point they're going to make a mistake."


Uncertainty surrounding key government economic policies has also weighed on the job market;business leaders have complained that they are reluctant to hire more workers until the costs of health care reform and the direction of tax policy become regional.


Election
Tuesday's election, which gave control of the House Republican opponents of health care reform and supporters of extending tax cuts has intensified that debate to des.President Barack Obama signaled this week he is open to compromise on a tax policy standoff that forced the debate into a post-election blade duck session set to begin Nov.15 The Bush administration's tax cuts expire at the end of this year.


"If we nail down the tax code quickly, that's been a real impediment for small business hires," said Mark Zandi, chief economist at Moody's Analytics."If we get some of the blanks filled in for health care reform, which is making small businesses nervous as well, then as we work our way into next year, we'll see measurably better job growth."


The hope is that more clarity about government policy, and more evidence the economy is growing, albeit weakly, will help change hiring managers' expectations about the future and give them more confidence to begin hiring again.


"The economy is growing," said Brusca."The Fed is doing what it can do to ramp up expectations."It eliminated from its last statement all the negative forward-looking comments that had been there.The Fed realizes that it is expectations that they need to move forward.…I think you have to embrace the numbers, and they are good."We're building on something here."


? 2010 msnbc.com reprints


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Private hiring contracted unexpectedly in September.

WASHINGTON — Employers private u.s. unexpectedly cut 39,000 jobs in September after a revised higher gain 10,000 in August, a report by the payroll processor showed Wednesday.

Contraction in employment in September was first seven mois.La August figure has been reported as a loss of 10 000.

The median estimates of 38 economists polled by Reuters for the ADP Employer services report, jointly developed with Macroeconomic Advisers LLC, has been an increase of 24,000 jobs in the private sector in September.

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ADP figures come forward much more comprehensive report of the labour market the Government Friday, which includes public and private sector employment.

The report is expected to show farm, payroll is unchanged in September, based on a survey of Reuters analysts, but an increase in pay private 75 000.

Economists often call the ADP report to refine their expectations for the figures of payroll, although it is not always accurate in predicting the outcome.

Private hire have been slow to seek economy remains lent.incertitude on the reform of the health and financial costs as well as potential tax changes were the business reasons have unwillingness adding new jobs.

Signs of expansion of employment would be considered as a strong signal that the economy began améliorer.Des weekly reports the Ministry of labour on unemployment claims indicated that recruitment is still low.

But weak jobs data may also be enough for the Federal Reserve to resume in an effort to try to stimulate borrowing and spending purchasing Treasurys.annonce Japan Tuesday that he cuts a key interest rate to near zero percent and some of its bonds purchase adds the expectations that the u.s. Federal Reserve will take similar steps to purchase bonds.

Another report released Wednesday showed that the number of layoffs planned u.s. firms increased slightly in September, was the second lowest level of the year.

Employers announced last month, seven percent reductions 34,768 37,151 planned job reductions reported in August, employment of according to the report of Challenger, gray & Christmas, Inc. global outplacement consultancy.

"The low number of cutting job that we are witnessing in almost all sectors does translate necessarily in increased hiring," John Challenger, CEO of Challenger, gray & Christmas, said in a statement.

"There are hiring going on in the economy, but it is not enough ébrécher perceptible in the number of unemployed," he said.

Figure job-cutting of September was down a year earlier, when the report is 66,404 planned lay-offs.

Overall, employers announced cuts jobs 411,272 so far this year, which was 64% below 1,136,908 update foot announced by this point in 2009.

The Government and the nonprofit sector announced cuts jobs 11,091 for months, continued to be battre.Le pharmaceutical sector announced 43,334 cut this year, including 6,069 in September, was responsible for overall employment reductions plues next.

"The Government employers... are generally large contributors to the creation of jobs, not only by their hiring, but by the purchase of goods and services from the private sector, also" said Challenger. "" ""Unfortunately, this massive part of the economic engine simply isn't pulling on the piston.?

"Private sector employers have money to spend on new equipment and staff, but are awaiting the demand increase sufficiently to justify the investment," he said.

The Associated Press and Reuters have contributed to this report.


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