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Jobs in America: CareerBuilder CEO Talks Job Creation, the Biggest Skill Shortage and More

August 4th, 2011 Amy Chulik Comments off

On CNBC’s Squawk Box this morning, CareerBuilder CEO Matt Ferguson discussed job expectations versus job creation; the disconnect caused by the structural mismatch between available jobs and available skills; the industry with the biggest skill shortage right now; and the area hottest in wage growth.

Check out what else Ferguson has to say about the state of jobs in America:

CareerBuilder CEO Matt Ferguson Talks Market Trends, Job Improvement on Squawk Box

July 7th, 2011 Amy Chulik Comments off

In anticipation of tomorrow’s BLS unemployment report, CareerBuilder’s CEO Matt Ferguson appeared on CNBC’s Squawk Box this morning to discuss job market trends; causes of current economic uncertainty; in which job areas we’re seeing the most improvement — and much more:

According to CareerBuilder’s Mid-Year Job Forecast:

  • Nearly half of U.S. employers (47 percent) plan to hire new employees in the second half of the year, up from 41% in 2010.  The number of companies hiring specifically for full-time, permanent staff rose to 35% from 28% last year.
  • Customer Service, Information Technology and Sales remain the top three areas where companies say they will hire first in the back half of the year.
  • More than one-third (35 percent) of employers are concerned that key talent will leave their organizations as the economy improves, a trend that has become increasingly evident over the last six months; 18% of employers reported top workers left their organizations in Q2 2011, up from 14 percent in Q1 2011.

What’s your take on the newest job forecast results and on what Matt had to say about the market?

CareerBuilder CEO Matt Ferguson Discusses Hiring Outlook on CNBC Power Lunch

February 15th, 2011 Amy Chulik Comments off

CareerBuilder CEO Matt Ferguson appeared on CNBC Power Lunch late last week to discuss findings from the Young Presidents’ Organization’s Global Pulse CEO Confidence Index, a survey gauging opinions of CEOs on the future of the economy. He also talked about changes in job activity on CareerBuilder’s site and answered questions about job creation for 2011 and which industries and regions are doing the most robust hiring right now.

YPO (Young Presidents’ Organization), a global network of 17,000 CEOs under the age of 50, surveyed 2,256 CEOs across the world representing companies of all sizes (1,144 respondents were in the U.S.) to measure economic sentiment. The Global Pulse CEO Confidence Index found, among other things, that the hiring outlook is improving both here in the U.S. and abroad.

Watch Matt’s full interview on CNBC Power Lunch:

Let’s take a closer look at a few key findings from the YPO survey:

1. CEOs are more growing more confident in the economy.

  • Global confidence rose 2.8 points to 64.7.  The U.S. index rose 3.6 points to 63.5, the highest since the survey began in July 2009.
  • 61% of CEOS said economic conditions have improved compared to six months ago, up from 46% last quarter.
  • 67% expect economic conditions to improve over the next six months, up from 60% last quarter.
  • The emerging markets are the most bullish while the European Union has been the least optimistic, though confidence levels are rising there as well.  Lower confidence levels in countries like Greece, Ireland, Spain and Portugal are tied to sovereign debt problems.  Latin America is the most optimistic.

2. The hiring outlook is improving domestically and internationally.

  • The YPO employment index rose 1.9 points to 59.0 in the U.S. Hiring expectations were positive across all sectors, including construction, which prior to this point has lagged production and services.

3. Companies expect stronger sales this year

  • The sales confidence index for the U.S. rose to 68.5 from 49.2 in July 2009.   Production and services companies remain enthusiastic about the pace of the sales in 2011.  Construction is growing more confident.

4. Firms of all sizes expect to boost capital spending.

  • The investment confidence index for the U.S. rose 1.5 points to 59.7.

How do these results compare to what you’re seeing at your own organization?

BLS Employment Situation Report for July — Channeling “Groundhog Day”?

August 6th, 2010 Amy Chulik Comments off

July’s job numbers were just released by the U.S. Bureau of Labor Statistics, and they may give you flashes of Bill Murray a la Groundhog Day, as the unemployment rate remained at 9.5 percent in July and another month went by without significant improvement in our employment situation.  But as Bill Murray’s character, Phil Connors,  reminded us in the film, we can see see the groundhog signifying six more weeks of winter as  bleak and dark and bereft of hope,  or look at the positives of the situation and acknowledge where we’re improving. After all, we’ve gained 630,000 private sector jobs this year — and there’s still five months of 2010 that remains to be seen.

Additionally, we’re seeing moderate, sequential improvements across almost every job category on CareerBuilder itself. Entry-level jobs are up 100 percent year over year,  and in the skilled areas for both construction and manufacturing, we’re seeing jobs up 50 percent year over year, as CareerBuilder CEO Matt Ferguson pointed out on CNBC’s Squawk Box this morning. Ferguson explained July’s job numbers from his point of view, how things have changed since 2008, and the good and the bad of what’s going on now.

Watch the VIDEO:


Let’s take a closer look at BLS’s Employment Situation report for July:

  • Both the number of unemployed persons, at 14.6 million, and the unemployment rate, at 9.5 percent, were unchanged in July.
  • Total nonfarm payroll employment declined by 131,000 in July, but those losses were due to to 143,000 temporary workers hired for the decennial census completing their work.
  • So far this year, private sector employment has increased by 630,000, with about two-thirds of the gain occurring in March and April.
  • The average hourly wage rose slightly in July, from $22.55, to $22.59. Over the past 12 months, average hourly earnings have increased by 1.8 percent.
  • Private employers added 71,000 jobs in July, up from a downwardly revised 31,000 in June but below the consensus forecast of 90,000.
  • The number of persons employed part time for economic reasons (because either their hours had been cut back or they were unable to find a full-time job) was essentially unchanged over the month at 8.5 million but has declined by 623,000 since April.
  • The average workweek for all employees on private nonfarm payrolls increased from 34.1 hours to 34.2 hours — signaling employers are looking for more productivity from the same number of workers.

NOTE: June’s number was revised dramatically downward to a total loss of 221,000 jobs. The agency originally reported that the nation lost 125,000 jobs in June.

Industry-Specific Changes for July:

  • Manufacturing employment increased by 36,000 over the month. Manufacturing employment has expanded by 183,000 since December 2009.
  • Health care added 27,000 jobs in July. Over the past 12 months, health care employment has risen by 231,000.
  • Employment in professional and business services was little changed (13,000) in July.
  • The number of jobs in temporary help services showed little movement (-6,000) over the month.
  • Employment in financial activities continued to trend down in July, with a decline of 17,000. So far this year, monthly job losses in the industry have averaged 12,000, compared with an average monthly job loss of 29,000 for all of 2009.
  • Construction employment changed little (-11,000) in July; 10,000 construction workers were off payrolls due to strike activity.
  • Employment in other private-sector industries, including wholesale trade, retail trade, information, and leisure and hospitality showed little change in July.

What happens next?

Although we’ve pointed out positives when looking at 2010 as a whole, expectations are high, and many say job market improvements are not keeping up with the number of entrants to the job market. An article in The New York Times stresses that today’s unemployment report renewed pressure on lawmakers to consider the next steps they might take to bolster the economy. After more of the same with job numbers, employers are hoping to break the Phil Connors cycle and wake up next to Rita with “I’ve Got You Babe” playing on the radio — er, wake up with more jobs to be had and more people getting work. Time will tell as to what combination of factors will get us there — and stop us from stepping in that same puddle every morning.