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    Posted July 8, 2010 by
    reCareered
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    June 2010 Employment Trends Show Mixed Results

     

    At the  end of June 2010, the major job sites released hiring data and analysis  for the month, indicating mixed results. Today's article summarizes job  reports from Indeed.com, SimplyHired.com and CareerBuilder.com.

     

    Not only is this data valuable for job seekers, but for business  analysts, corporate strategists, marketers, salespeople, investment  analysts, financial advisers, and others who are interested in companies  experiencing growth.

    The drop in June’s unemployment rate to 9.5% (lowest since 7/09) was  mixed with the loss of 125K jobs.  Remember all those temporary census  jobs?  Notice there’s not as many census takers lurking around the  neighborhood?  That’s because 225K temporary census jobs were cut during  June, leading to the relatively large job loss number.  In reality, the  census inflated job growth for the past couple of months and now  inflates June job losses.  However, the trend remains one of slow job  growth and demonstrating continuing signs of a slow recovery.

    Job growth remained spotty, effecting some cities, industries and job  functions more than others. Some job markets remain in the dumper -  Miami and Detroit held flat, while Los Angeles job markets declined -  all three are still in deep trouble with up to a 1:8 ratio of unemployed  workers to job advertisements.

     

    Indeed Growth by Function:

    SimplyHired discusses that the Bureau of Labor Statistics released  May unemployment totals that declined to 9.7%. Private-sector employers  added 83K jobs in May, but temporary census jobs ended, shedding 225K  workers. CareerBuilder.com reports that private-sector employers added  twice the number of jobs in June 2010 compared to  May.  Private-sector  payroll has increased by 600K YTD 2010 compared to 3.7 million job  losses at this time last year.

    Indeed tracks employment trends by industry each month. Indeed's June  2010 trend by industry survey shows growth in all fields, except real  estate. While health care is only up 2% over June 2009, there were  nearly twice the number of health care openings (670K) than retail  (346K) the next closest industry. The greatest changes were in  transportation (a whopping 73%), hospitality (47%) and retail (41%)  consistent with recent Who's Hiring articles I publish each Monday.

     

    See Chart ...

     

    Growth by Metro Area - Indeed.com:


    Indeed.com publishes a monthly report of where the jobs are, giving  insights into which job market is strongest and which is weakest.  Indeed's job market survey shows slightly increased job advertising  activity, demonstrating very slow growth.

    Indeed's July 2010 (based on June numbers) survey of job advertisements  show the job market is strongest in Washington DC, San Jose CA,  Baltimore MD and NYC NY. Washington has been at the top of the list for a  while, as federal government spending remains high - San Jose shared  the top spot with DC since April 2010, while Baltimore and NYC joined  last month. The remainder of the 10 job markets are geographically  spread throughout the US (with the exception of the Southeast US):  Hartford CT, Boston MA, Austin TX, Milwaukee WI, Seattle WA and Denver  CO, all sharing a 1:2 ratio.  In addition, Cleveland OH, Salt Lake City  UT, Richmond VA, San Francisco CA, San Antonio TX, and St. Paul MN are  also at 1:2 ratio of unemployed to job advertisements.

    At the opposite end of the spectrum is Los Angeles CA (#48, 1:7),  Detroit MI (#49, 1:7) and Miami FL (#50, 1:8). Florida has the  unfortunate distinction of having 3 of the worst 10 job markets -   Orlando (#41, 1:4), Jacksonville (#43, 1:4) and Miami (#50, 1:8).  California also has 3 of the worst 10 job markets - Sacramento (#45,  1:5), Riverside (#46, 1:6), and Los Angeles (#48, 1:7).

    However some of these ratios improved slightly last month, while others  fell.  New Orleans dropped 13 spots due to oil spill related job losses,  while Oklahoma City (a former employment bright spot) slipped 12  spaces. This indicates that there job growth is spotty, and where there  is growth, it's at a very slow pace.

     

    See chart ...

     

    To summarize the findings of these reports, we're seeing continued mixed  and slight job growth suggesting a slow recovery is still at it's  tentative stages. The temporary bubble due to census jobs should be past  and won’t have an effect on future months.

    Compared to the lousy news over the past 12-18 months, even small signs  of growth are  welcome news.


    Article: http://recareered.blogspot.com/2010/07/june-2010-employment-trends-show-mixed.html
    Source: http://recareered.blogspot.com

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