Monthly Archives: July 2013

FED RESERVE HURTING YOUR JOB CHANCES?

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(Photo credit: Wikipedia)

BY: Adam Gavriel

The Federal Reserve has a dual mandate to promote price stability and ensure full employment. It has yet to achieve either. It has set an annual inflation target of 2 percent, yet the consumer price index rose only 0.1 percent in May after falling 0.4 percent in April, and it was up only 1.4 percent in the 12 months ending in May.” 

This quote pulled from an article published on Bloomberg.com Monday by author A Gary Shilling, is an authors clear frustrations boiling over and onto the page.

Mr. Shilling continues: “The central bank hasn’t defined what it would consider full employment, even when it pledged to continue buying $85 billion in securities each month ‘until the outlook for the labor market has improved substantially.’” 

The Federal Reserve’s efforts have not appeared to be overly effective in the employment market. Despite a recovery, and a slow by steady improvement, the US unemployment rate remains at 7.6 percent – relatively high for historical standards.

About 1.65 million more people would have jobs if the unemployment rate dropped to the Fed’s trigger level of 6.5 percent. Even though the Fed hasn’t specified a full-employment rate, past discussions suggest it believes that 5 percent to 6 percent joblessness is possible without straining labor markets. A 5.5 percent rate would add an additional 1.6 million employees, for a totally of 3.2 million.” 

Unfortunately for the American economy and job seekers, the United States unemployment rate hasn’t been below 6 percent since July 2008, and hasn’t been five percent or lower since April 2008; now over five years ago.

This report from Mr. Shilling has to be one of the most informative we have seen on the Economy in quite some time. The veteran expert on the economy paints a bleaker picture than the numbers are trying to convey. While the American economy remains in a recovering trend, the numbers simply do not reflect where the country needs to be. Underemployment and labor participation rates continue to truly reflect what continues to be a struggling nation.

As an employment agency, we at Crossroads Consulting take these numbers to heart when they are released. In the office we are in a position to directly impact the Nation’s economy as a whole, and we take pride in our ability to help our neighbors.

Conducting business as a search firm, it is also our duty to find you. Unfortunately, we can’t find all of you. We implore you to use us as your connection into the position you have been looking for. Crossroads Consulting is currently hiring nearly 50 positions located around the United States, but we can’t fill them without YOU.

Even if you can’t find a position that you’re looking for on our website, make sure you email us your resume TODAY. Not confident in your resume? We have a recommended resume service that will make sure your resume most effectively jumps off the page to potential employers.

We want to be there from step one, until you’re walking into the office on your first day. Our mission is to put the ‘human’ back into ‘human resources.

CITY STRUGGLES – IS YOURS AMONG THEM?

BY: Adam Gavriel

While the United States economy continues it’s slow and often frustrating climb back to mediocrity, many of the country’s cities continue to falter.  According to an article by the Huffington Post, eight US cities experienced a falling average wage of close to or over 1% in the year 2012.

“One common criticism of the recovery is that even as unemployment has declined nationally, wage inequality has risen. According to a report by the National Employment Law Project, the increase in inequality is because many people who were unemployed during the recession have accepted lower-skill and lower-pay jobs than the ones they previously had in order to make ends meet.”

This quote goes hand in hand with the United States underemployment rate, which recent reports suggest sits at 17.2%

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Here are the 8 cities struggling more than the rest of the United States:

10. Santa Cruz-Watsonville, CA
1 year wage growth: -0.8%
Decemeber 2012 unemployment: 11.2%

9. Sandusky, OH
1 year wage growth: -0.8%
December 2012 unemployment: 7.3%

8. Ocean City, NJ
1 year wage growth: -1.1%
December 2012 unemployment: 17.3%

7. Las Cruces, NM
1 year wage growth: -1.2%
December 2012 unemployment: 6.7%

6. Kennewick-Richland-Pasco, WA

1 year wage growth: -1.3%

December 2012 unemployment: 9.7%

5. Flint, MI

1 year wage growth: -1.4%

December 2012 unemployment: 9.1%

4. Atlantic City, NJ

1 year wage growh: -1.4%

December 2012 unemployment: 14.9%

3. Elizabethtown, KY

1 year wage growth: -1.8%

December 2012 unemployment: 7.3%

2. Rocky Mount, NC

1 year wage growth: -2.3%

December 2012 unemployment: 13%

1. Anniston-Oxford, AL

1 year wage growth: -2.4%

December 2012 unemployment: 6.8%

All of these numbers really hit home here in the Crossroads Consulting office. As an employment agency, we take pride in our commitment to putting the ‘human’ back into ‘human resources’ and getting Americans working again. When the unemployment goes up anywhere in America, we take it as a personal insult and commit to working harder as a search firm.

With our job postings from across the nation, and our recommended resume service, there is no reason for you NOT to contact us in the offices today. We are a great search firm, and we may find you first, but help us out and drop us an email TODAY.

 

FORBES TALKS UNEMPLOYMENT NUMBERS

BY: Adam Gavriel

The June United States unemployment numbers have been released, and well, they’re not too appealing to the eye.

As the old story of the tortoise and the hare racing will tell us, slow and steady wins the race; but when it comes to economic recovery, who exactly is winning with “slow and steady”? On the brighter side, progress is still progress, and as long as the economy is moving forward, Americans and the world alike can remain optimistic with hope on the horizon.

According to an article published by Forbes, employers added 195,000 workers in June, slightly higher than economists’ prediction of 165,000. Despite the added workers, the unemployment rate remained unchanged at 7.6%

Since June’s numbers are merely more of the same, it’s unlikely to significantly alter the Fed’s thinking. The central bank is targeting 7% unemployment before they begin to reduce their monetary easing. Regardless, markets have been hit with waves of volatility lately as investors tried to deduce when the Fed would cut back on its bond purchases.”

The Federal Reserve, of course, is pumping $85 billion-a-month bond-buying program into the US economy to try and increase activity. AS the article states, they are aiming for an unemployment rate of 7% or less to cut on the initiative.

While the private sector is beginning a recovery, the public sector continues to bring the recovery down. While private employers added 202,000 workers in June, state, local and federal governments fired 7,000 workers.

While slow and steady eventually wins the race in the folk tale, it’s a different story when it comes to a recovering economy. Again, while progress in a forward motion is still better than the alternative, with the American economy struggling for as long as it has, we’d like to see better and more rapid progress begin to show.

That’s why at Crossroads Consulting, we’re doing everything we can to get the process to speed up. As an employment agency dedicated to putting the ‘human’ back into ‘human resources’ we’re not just a job board, we’re an office of people working FOR you. Our search firm is the connection you need to get introduced to the correct job path, and career path, that you’ve been looking for.

With our nationwide job postings that are always updating, and our recommended resume service, there is no reason not to get in contact with us at Crossroads Consulting today.

HOPE ON THE HORIZON?

BY: Adam Gavriel

There may be some hope on the horizon for U.S. manufacturing activity.

According to a report from CBS News, U.S. manufacturing activity grew in June behind a pickup in new orders and stronger production. This increase suggests that many are expecting factories to rebound in the second half of the year, and hopefully contribute to helping the economy grow.

The Institute for Supply Management said Monday that its index of factory activity increased to 50.9 in June. That’s up from 49 in May, which was the lowest reading in four year. A reading above 50 suggests growth, while those below indicate contraction.”

While this is great news, there always seems to be a counter. Manufacturing employment fell in June to 48.7% its lowest level since September 2009. This of course implies that Friday’s June employment report will show that factories cut jobs for the fourth straight month.

Although, there are other sings that U.S. manufacturers are starting to recover.

U.S. business stepped up their orders for factory goods in April and May. Consumers also spent more in May on cars and trucks, which will continue to help the recovery of auto factories. Sales at auto dealers also rose in May by the highest rate in six months.

Unfortunately, while a 2.4% growth of the economy was expected, many economists expect growth to remain more stagnant between a rate of 1.5 and 2 percent.

The U.S. economy expanded at only a 1.8% annual rate in the first three months of the year, the Commerce Department said this week. That was much slower than its previous estimate of a 2.4 percent rate. The main reason for the lower figure was consumers spent less on services than initially thought. Still, spending on long-lasting factory goods, such as cars and appliances, remained healthy.”

As Van Halen would put it; “one step ahead, one step behind”. The time to reinvigorate and reestablish the U.S. economy is ‘right now’ and only together as a team do we have the power to change it. As an employment agency, Crossroads Consulting is here to be the team captain, and get the ball rolling. We are constantly looking to fill jobs across the nation TODAY, and we can only do that with your help. As a search firm, sometimes we’ll find you, and if we find you, we’ll definitely find you a career as well. With all teams though we need your help, as there is no ‘I’ in team (but there is a ‘me’).

The employment agency dedicated to putting the ‘human’ back into ‘human resources’ we want to work with you from start to finish. Not comfortable in your resume? We can help you there with our recommended resume service. Need a connection? We have plenty of those, reach out and let’s talk. It is not a time to be timid, it’s time to go out and take what’s rightfully yours.

We look forward to hearing from you!