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Filed Under: Economy

 

The January US Jobs Report reported some good news with the picture showing a real upswing in job creation since mid-2011 and a recovery back to those levels seen early last year:
  • much higher than expected 243,000 jobs created

  • unemployment dipped to 8.3%

  • 257,000 private sector jobs were created in the month (14,000 public sector jobs were eliminated in January)

  • revisions to November also showed an additional increase in jobs created by 60,000

But what does that mean to you?

 

Published on: Monday, January 09, 2012

Jobs Report Shines at Year’s End

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Last month, we reported the significant upswing in our exclusive Recruiter Confidence Index, a trajectory that began in October. For the last nine years, this index has been a leading indicator for the economy and for executive hiring, and Friday's job report reinforced how strongly this indicator has led.

Consistent with what recruiters pointed to in September, and in a big way in our December survey, the employment picture continues to brighten.

 

Published on: Wednesday, December 07, 2011

Jobs Report Shows Black Friday Brought Some Light

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Many economic releases last week supported the notion of continued growth for the US economy. The Purchasing Managers' Report (an indicator of a rebounding manufacturing sector) crossed into expansionary areas. The monthly jobs report showed the private sector added 140,000 new jobs and revisions from prior months continued to show strength.

But, the most important economic releases last week were the retail sales figures from Black Friday and the first holiday sales weekend. They indicated that the consumer was starting to spend — which for the economy has been the missing link for faster growth. Consumer spending makes up 70 percent of the US economy. Over the last three years, they have been deleveraging themselves. The Black Friday reports were the first sign that may be easing.

 

Published on: Tuesday, November 08, 2011

Revising the Jobs Reports

Posted By: By: Mark Anderson
Filed Under: executive hiring, economy, growth, jobs report, employment trends, anderson
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What surprised me most about Friday's job and unemployment report, was not 80K+ jobs added to the economy in October, but the revisions to prior months – notably August and September.

A lot of "hoopla" was generated in August when the jobs report showed no jobs were added to the economy. The media revved up talk about a "double dip recession." Coming on the heels of the government debt negotiations, the "pessimistic frenzy" was strong.

 

Published on: Tuesday, October 11, 2011

Jobs Report Says Growth is Slow and Steady

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The Labor Department reported last Friday that employers added 103,000 jobs in September. Hiring was stronger than expected and well above consensus and upper range estimates. With 34,000 jobs lost in federal and state governments, private sector hiring increased jobs by a solid +137,000.

With positive revisions to the previous July release (going from +85,000 to +127,000 jobs) and the August release (going from 0 to +57,000 jobs added), there was further good news and strength in the employment situation — though unemployment remained unchanged at 9.1%.

 

 
Friday's jobs report showed an uptick in job creation and the lower unemployment claim numbers released on Thursday were another indicator that the jobs market is not on a downward spiral. This trend may be lost with all the other economic news that surrounded these releases and were clearly disturbing the financial markets over the last week.

 

 
The June jobs report, released last Friday, was clearly disappointing in its aggregate picture. The total economy gained just 18,000 jobs in June, sharply missing most expectations and coming in even weaker than the 25,000 jobs added in May and significantly down from the three months prior, which had averaged over 200,000 jobs created monthly.

If there was any good news, it was that private sector businesses continued to add jobs in June (+57,000) — but again at levels slightly lower than May (+73,000) and significantly lower than the average in February through April. Currently, the private sector continues to show job growth, while the public sector is a clear drag to the overall economic numbers.

 

 
At only 54,000 jobs created, the US jobs report on Friday was disappointing. Private sector jobs increased 83,000 but were still below the average of the first four months of 2011. Economists were expecting approximately 170,000 jobs to be added in May and similar numbers for the private sector.

One month does not make a trend, but the lower number of jobs created certainly shows a loss of momentum. It does continue to reinforce the unevenness of the recovery and shows the economy's continued slow advance against earlier hopeful expectations for a fuller rebound.

 

Published on: Thursday, April 07, 2011

The Door is Opening for Executive Hiring

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The "job market gained momentum" is the way the media is portraying the positive increase in jobs in March. They were at 216,000 jobs added in March, up from 192,000 in February. The government also reported that unemployment decreased from 8.9 percent to 8.8 percent — its lowest level in two years. These numbers were slightly above market expectations of 195,000 jobs added and unemployment holding steady at 8.9 percent.

The good news is that private sector employment increased even more, adding 236,000 jobs last month. They also raised their estimate of the number of jobs added in February by about 30,000 jobs, from 212,000 to 240,000.

 

Published on: Tuesday, March 22, 2011

Japan and the Global Economy

Posted By: Mark Anderson
Filed Under: mark anderson, economy, tsunami, earthquake, natural disaster, japan
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The aftermath of the Japanese earthquake and tsunami is a tragedy, and the global economic implications at this point are not clear. The ever-increasing human and economic toll on the Japanese people is overwhelming. Our hearts go out to a nation which is dealing with conditions that are almost unfathomable. Homes have been destroyed, communities swept away, loved ones lost, jobs no longer there. This is a disaster of the highest order, and now, despite a cloud of uncertainty around the nuclear plant, attention moves from rescue to recovery and rebuilding.

 

Published on: Monday, November 22, 2010

Follow the Leader: Michael Porter

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Michael Porter did a Q&A session with Bloomberg TV's Eric Schatzker at the World Innovation Forum where ExecuNet was reporting exclusively for attendees.

The biggest problem on Wall Street?
"I think that fundamentally what happened on Wall Street is a disconnect between what they are doing and what we need in a real economy. Wall Street is supposed to serve the real economy. The real economy creates wealth in the long-term -- not in a year or a quarter. Most stock used to be held for a decade, and loans were held to maturity. What's happened in the last 10 or 20 years is a disconnect and shortening of horizons. The average stock is held for less than a year, and the average loan is packaged and sold to someone who doesn't even know why the loan was made. As things got more short-term, we saw more trading, more volatility, more hedging. Wall Street began creating products for itself and not its customers. It created products with little value and lots of destructive possibility."

 

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