Unemployment at 9.0% – a gain of 0.1% employment was an indication of a slow recovery but vulnerable to global shocks.
An interesting observations from some of the leading economic reports show the following trends:
- Private sector adding jobs including manufacturing which indicates a healthy trend to economic growth
- Services industry gains as we move towards a service economy. Professional Services and Healthcare jobs growth increases
- Business holding cash will need to spend it as shareholders require more returns. While M&A like Google acquire Motorola provide the use of cash, would also add more people off jobs as companies consolidate operations.
- Younger people are giving up on job search (41% 16-19 year employed in 2008 vs less than 35% employed in 2011)
- Older people are finding that they are in need of continuing with their current jobs
- Many developed countries under pressure with labor participation like (in 2010) Italy (48.2%), US & Sweden (64.7%) to Australia (66.5%) and Canada (67%)
How to make sense of this infomation:
- Find talents from M&A and layoffs in the industry as there are a lot of good talents.
- Find and place folks in Professional Service and Healthcare
- Provide training for younger generations as an opportunity to start full-time & part-time jobs. These resources when trained can prove to me much more cost effective than outsourcing it to developing countries.
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