Return of the tight job market

[MtnBiker]

The economy added 243,000 jobs last month, and wages are on the upswing.

By Ron Scherer | Staff writer of The Christian Science Monitor

NEW YORK – America is having a jobs fair.
Employers are on the prowl, trying to entice construction workers, nurses, database administrators, and certified public accountants, just to name a few areas where businesses can't keep up with demand. Wages, once nonnegotiable, are on the table.

Would you rather live in Fort Walton Beach, Fla.; Charlottesville, Va.; or Fargo, N.D.? Just call: Someone in each of these places is advertising for workers.

The vibrant economy is now spilling over to the workforce with a strength that hasn't been seen since the late 1990s. The economy has added an average of 226,800 jobs per month for the past four months, including 243,000 in February, as reported last Friday. The surge is so strong that some economists now believe the Federal Reserve will be able to hike interest rates even higher without putting too much of a drag on the economy.

"The economy is a little bit stronger than the Federal Reserve's expectation," says Gregory Miller, chief economist at SunTrust Banks in Atlanta. "It gives them cover to raise interest rates with minimum risk of undermining sustainable growth."

The improved job market is encouraging those who had given up on finding work to try again, which is one reason the official unemployment rate rose to 4.8 percent last month. The "quit" rate is also up - a sign that employees feel confident about finding another job.

Only spots in the industrial Midwest appear to be missing out on the jobs surge.

"We're seeing areas where the unemployment rate has fallen to the lowest point in their labor history," says Mr. Miller.

According to the Bureau of Labor Statistics, 178 major metropolitan areas had unemployment rates in December below the then-national average of 4.6 percent. Thirty-three cites had unemployment rates below 3 percent, including Morgantown, W.Va.; Dothan, Ala.; and Bismarck, N.D.

The Southeast is one of the hottest regions, particularly Florida, which had a 3 percent unemployment rate in January. In December, it had the three lowest unemployment areas in the nation: Fort Walton Beach and Fort Myers at 2.3 percent and Gainesville at 2.2 percent...........


Economists believe a major engine of the jobs surge is small business. Although the hiring by small companies does not show up in the payroll survey - which is mainly large business - it does show up in the household survey, another Labor Department report. "For some time they have been the driver beneath the surface of Atlanta's economy," says Miller.

One of these small companies is Builders Insurance Group, which provides insurance products for the home-building community. Five years ago, the Atlanta company had 73 employees. Today, it's up to 160.

"We're planning on hiring 50 people this year," says CEO Bill Lohmeyer, who notes it's hard to find educated and trained insurance professionals...........


At the same time, average annual earnings are rising, up 3.5 percent from February 2005. That's the strongest gain since 2001. "As [wages] accelerate, people have more income to spend, and as people spend, business hires more workers," says Gina Martin, a financial economist at Wachovia in Charlotte, N.C.

To hire the new staff, companies often turn to recruitment companies. But even those companies say it's becoming increasingly difficult to find candidates.

"We're finding people are getting multiple job offers," says William Grubbs, chief marketing officer at Spherion, a staffing firm in Fort Lauderdale. "Employers are being forced to make decisions quicker."

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From an earlier thread by someone who was worried about minimum wages, he should really look at the job market.

 

[manu1959]

i will say this about the job market.....right now my firm can not find qualified people to hire in the architectual field....and we are turning work away because we can not staff it

 

[MtnBiker]

i will say this about the job market.....right now my firm can not find qualified people to hire in the architectual field....and we are turning work away because we can not staff it

So, the market is putting your firm's services in high demand as well as demand in general for people to perform similair services. I would think that if architectual work is in high demand so construction, materials and the possible business that will occupy any commerical projects.

 

[manu1959]

So, the market is putting your firm's services in high demand as well as demand in general for people to perform similair services. I would think that if architectual work is in high demand so construction, materials and the possible business that will occupy any commerical projects.

yep....there are construction firms that are refusing to bid work and construction costs are jumping at 1% per month....it is nuts really....

 

[Emmett]

Our firm is in need of highly qualified persons to handle our our expanding marketplace. NO EXPERIENCE NECESSARY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

That's right, you can start tomorrow in an exciting new adventure seeing if you can cook and serve enough hamburgers to satisfy the large influx of our new illegal immigrant customer base. Due to the fact that our current employees are sick of their jobs ( we know this based on recent customer surveys and the fact that a resturant worker has not smiled at a customer since late 1983 ), we are anxious to dupe some new folks into the industry.

Starting pay is five something an hour like it has been for years, the insurance and benefits are bullshit and you can create your own schedule because you will probably be the manager right out of the gate if you are 16 yrs old or better. Minorities experience rapid advancement (that is why white folks don't work in food service anymore ) and we encoutage seniors to apply.

PLease call 1 - (800) - BAD FOOD for more information!

 

[MtnBiker]

I have had a restuarant job before. But I certianly and easily moved on.

 

[MtnBiker]

MILWAUKEE (AP) — Thirty percent of U.S. companies intend to increase staffing levels in the second quarter this year, according to a survey of 16,000 employers prepared for release Tuesday.
The report marks the ninth straight quarter that more than 20% of the companies surveyed said they plan to add staff. It was 23% for the first quarter of this year.

Six percent of companies surveyed expect to reduce employment in the second quarter, while 58% expect no change, the survey said. Six percent of companies were unsure of their plans, according to the survey, which began in 1962. (Related: Retail sales 1.3% cooler)

The trend shows a healthy, stable economy, said global staffing firm Manpower.

Manpower CEO Jeff Joerres said a shortage of workers is forcing companies to get out and be more competitive in their hiring practices.

"There is a shortage going on," Joerres said. "Companies are looking for the exact talent they need, and they may be having a more difficult time doing that."

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And they are not talking about hamburger joints.

 

[GotZoom]

Our firm is in need of highly qualified persons to handle our our expanding marketplace. NO EXPERIENCE NECESSARY!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

That's right, you can start tomorrow in an exciting new adventure seeing if you can cook and serve enough hamburgers to satisfy the large influx of our new illegal immigrant customer base. Due to the fact that our current employees are sick of their jobs ( we know this based on recent customer surveys and the fact that a resturant worker has not smiled at a customer since late 1983 ), we are anxious to dupe some new folks into the industry.

Starting pay is five something an hour like it has been for years, the insurance and benefits are bullshit and you can create your own schedule because you will probably be the manager right out of the gate if you are 16 yrs old or better. Minorities experience rapid advancement (that is why white folks don't work in food service anymore ) and we encoutage seniors to apply.

PLease call 1 - (800) - BAD FOOD for more information!

Krystal Hamburgers right?

 

[MtnBiker]

WASHINGTON (Reuters) - U.S. college graduates are facing the best job market since 2001, with business, computer, engineering, education and health care grads in highest demand, a report by an employment consulting firm showed on Monday.

"We are approaching full employment and some employers are already dreaming up perks to attract the best talent," said John Challenger, chief executive of Challenger, Gray & Christmas.

In its annual outlook of entry-level jobs, Challenger, Gray & Christmas said strong job growth and falling unemployment makes this spring the hottest job market for America's 1.4 million college graduates since the dot-com collapse in 2001.

The firm pointed to a survey by the National Association of Colleges and Employers which showed employers plan to hire 14.5 percent more new college graduates than a year ago.

The survey also found higher starting salaries this year. Graduates with economic or finance degrees will see the biggest gain with starting salaries up 11 percent to $45,191, while accounting salaries are up 6.2 percent, business management salaries up 3.9 percent and pay for civil engineers 4.3 percent higher.

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Not a burger flipper in the bunch.