September 2010 Employment Trends – Flat as a pancake

Oct 27 2010 in Employment Economy, Featured, Job Boards, reCareered Blog by Phil Rosenberg

job search information, job search advice, job search help, job search tips, career advice

At the end of September 2010, the major job sites released hiring data and analysis for the month, indicating results that unemployment was even with August, but edged up slightly compared to July. 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.

September’s unemployment rate of 9.6% remained equal to August data, described by CareerBuilder as “Blase’ “. While September gained 64K private-sector jobs, we keep loosing public-sector jobs (-159K) as even more census jobs are ending. Even public sector jobs last month included 77K temp census jobs. These are still signs of a slow recovery.

The good news behind this is private sector jobs increased 825K year to date, led by the health care industry that added 21K jobs per month and food service has added 104K jobs in 2010.

Job growth still was inconsistent, effecting some cities, industries and job functions more than others. Some job markets remain in the dumper – Miami and Los Angeles held flat but Riverside CA dropped 2 spots – all three remain in deep trouble with up to a 1:8 (Riverside and Los Angeles were 1:8) ratio of unemployed workers to job advertisements.

Growth by Function:

Indeed tracks employment trends by industry each month. Indeed’s September 2010 trend by industry survey shows growth in all fields. While health care shows the least growth from last year at 14% compared to September 2009, there were almost twice the number of health care openings (811K) than retail (410K), the next closest industry. The greatest changes were in transportation (a massive 111%), manufacturing (68%), media/newspaper (67%) and retail (65%).

Chart source: Indeed.com Blog

Growth by Metro Area:

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 September 2010 survey of job advertisements show the job market is strongest in Washington DC, San Jose CA, Baltimore MD, NYC NY and Cleveland (???) OH. Washington has been at the top of the list for a while, as federal government spending remains high. San Jose and Baltimore each gained a spot at the expense of NYC. The remainder of the 10 top job markets are geographically in the Northeast, North Central, and Northwest US (plus Austin): Cleveland has a 1:1 ratio, while Hartford CT, Boston MA, Seattle WA, Milwaukee WI and Austin TX, all share a 1:2 ratio. In addition, the top 21 job markets are at at least a 1:2 ratio of unemployed to job advertisements.

At the opposite end of the spectrum is Los Angeles CA (#48, 1:6), Riverside CA (#49, 1:6) and Miami FL (#50, 1:8). Florida has the unfortunate distinction of having 3 of the worst 10 job markets – Orlando (#43, 1:4) Jacksonville (#44, 1:4) and Miami (#50, 1:8). California now has 4 of the worst 10 job markets – San Diego (#40, 1:4) Sacramento (#45, 1:5), Los Angeles (#47, 1:6), and Riverside (#49, 1:6).

Some of these ratios improved slightly last month, while others fell. Rochester NY and Buffalo each picked up 5 spots, while Chicago IL and Cincinnati OH each picked up 4 spots. On the other hand Portland OR dropped 6 spots and Salt Lake City UT dropped 4. This indicates that job growth continues to be spotty – we are starting to see some growth in some selected places, but it typically hasn’t been sustainable in multiple months. The ratios are improving in markets overall but improving slowly.

To summarize the findings of these reports, we’re seeing continued slight job growth suggesting a slow recovery remains tentative and inconsistent. The effects of census jobs are over and won’t have an effect on future hiring.

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Source: http://reCareered.com
Author: Phil Rosenberg

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