The team at Robert Half International says business leaders in Tennessee are a good bit more optimistic than the national average. A net 23 percent of executives in Tennessee plan to hire during Q4 versus just 6 percent across the country.
Chad Leibundguth, regional vice president for RHI says, “This report indicates that Tennessee executives are more optimistic about their growth prospects for the fourth quarter than they have been in previous months. With a recent spike in temp-to-hire activity, we’re seeing that local employers are confident about their hiring plans, particularly in the fields of healthcare and financial services,” he said.Here are the national numbers.
Sep 1, 2010 1:05 PM
Yesterday's data set from the Tennessee Department of Labor & Workforce Development showed the Nashville area's unemployment rate dipping to 8.8 percent in July from 9.0 percent the month before. What caught most people's eye was the aberration in Davidson County, where the jobless number rose from June's 9.0 percent to 9.3 percent — a sharp departure from counties like Rutherford and Williamson, where rates fell 70 and 50 basis points, respectively. Where did that difference come from? Not job growth. State statisticians had almost all area counties — including Davidson — growing their employment base by a shade more than 0.5 percent. Where Davidson deviated in July was by growing its labor force by more than 2,600 people, or about 0.8 percent. The other 12 counties in our MSA saw their workforce shrink by almost 700 people. Which is why the rise in unemployment in this region's core county may not be cause for dismay. These days, a growing labor force primarily signals that people previously too discouraged to look for jobs are returning to the fray. Granted, it doesn't say much about the availability of jobs. But remember that a job hunter's sentiment is shaped in large part by what he sees close to home and hears from neighbors, family and friends about what's happening in the market. The people re-entering the workforce are seeing something others may not. There's also this to consider: Summer is prime moving season for families. A two-income household relocating for a Middle Tennessee job likely is doing so only for one position. The second parent will hit our labor market without a job but with plenty of motivation to start a career here. I'd bet that, if we could dig really deep into these numbers, we'd find that a good number of the people who helped bump up Davidson's unemployment rate last month fit that category.
Aug 27, 2010 12:34 PM
Outplacement firm Challenger Gray & Christmas says the jobs growth of today's sluggish recovery is actually stronger than what the economy produced after the 1991 and 2001 recessions.
In both cases, the end of the recession was followed by a period of “jobless recovery” during which payrolls continued to lose jobs and the unemployment rate continue to increase. In 1991, the jobless recovery lasted about 15 months and following the 2001 downturn, it took about 19 months for the job market to reverse course,” said Challenger. “This recession also experienced a period of jobless recovery. However, an examination of several employment trends suggests that this jobless recovery may have lasted just six months and is now on a positive track.”
Aug 23, 2010 2:49 PM
That sad assessment of the U.S. labor market came from Ellen Zentner at Bank of Tokyo- Mitsubishi UFJ in reaction to the latest employment report. Companies added just 71,000 in July and the national unemployment rate stayed at 9.5 percent only because thousands of people left the labor force. On the plus side, at least we don't have to worry much about inflation.
Aug 6, 2010 11:02 AM
Employment search site Indeed says 11 of the 12 industry categories it tracks showed year-over-year gains in the number of postings in July.
Transportation and Manufacturing, often viewed as early indicators of economic improvement, enjoyed the strongest job posting gains. Transportation has been a top performer in recent months, and became the first industry to show greater than 100% year-over-year job posting growth.
Aug 6, 2010 7:53 AM
The number of initial jobless claims rose to their highest levels since April last week, which confirms the fear among a number of market watchers that the economy won't pick up steam in the coming months.
“There really is no upside momentum in the labor market, and that’s a critical long-term determinant of where the economy is going,” said Steven Ricchiuto, chief economist at Mizuho Securities USA Inc. in New York. “People just aren’t getting jobs.”
Aug 5, 2010 11:16 AM
Nashville-area employers added more than 7,000 to payrolls last month
Jul 22, 2010 2:49 PM
Summer jobs are harder to come by this season. Employment for those aged 16 to 19 grew by just 497,000 in June, down 29 percent from the 698,000 teen jobs in June 2009. It's the lowest mid-summer job growth for this age group since 1951, according to outplacement consultancy Challenger, Gray & Christmas.
“This could end up being the worst teen summer job market in employment records going back to 1948,” said John A. Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas, Inc. “With data now suggesting that consumers are pulling back on spending, it is unlikely that a late hiring surge will salvage the dismal summer job situation for the nation’s youngest workers."
Jul 7, 2010 1:47 PM
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