Tag Archives: The Conference Board

Employment Trends Index Jumps Up – Hiring is Imminent

The Conference Board’s U.S. employment trends index rose in November for the fourth month in a row and job gains appear “imminent.” The index stands at 90.8, up 1.8% from October’s revised level.

“The very small number of job losses in November was to be expected given the increase in the employment trends index in recent months, and this month’s large increase in the [employment trends index] suggests that job gains are imminent, said Gad Levanon, associate director of macroeconomic research at The Conference Board. “However, the pace of hiring is likely to remain subdued because the economic recovery is expected to be weak throughout the first half of 2010.”

On Friday, the U.S. Bureau of Labor Statistics reported the U.S. lost only 11,000 jobs in November. The Associated Press reported economists had been expecting a loss of 130,000 jobs.

Compared to a year ago, The Conference Board’s employment trends index is down 9.4%.

Employee Skills Gap is Widening

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Since the global recession has forced many employers to cut costs—including labor costs—one area may need a resurgence of investment: training.

U.S. employers continue to struggle with finding new hires who have not just the basic skills, but also higher-level critical thinking and creativity skills, according to a new report from The Conference Board. Since the education system is not supplying young workers with these skills, companies may have to devote more of their own resources to bringing workers up to their required skill levels.

Some options include providing internships and working more closely with community colleges. The goal should be to prepare workers before they go out into the job market.

“It is a losing strategy for employers to try to fill the workforce readiness gap on the job. They need to be involved much sooner to prepare new employees to succeed,” according to Donna Klein of Corporate Voices for Working Families, which worked with The Conference Board on the report.

Click here to read the full report.

Recession-Proofing your Career

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Employers will likely continue to aggressively reduce payrolls in the foreseeable future, according to The Conference Board’s assessment of its latest Employment Trends Index.

Few sectors seem immune to these cuts, though individuals with skills in high demand may find it a little easier to transition to a new employer. Personal-finance adviser Kiplinger.com reports that the career choices likely to remain hot over the next few years include:
* Health care (e.g., pharmacists, physical therapists).
* Education (especially math, science, and bilingual education).
* Security (police officers, detectives, private security guards).
* Environmental science (hydrologists, environmental chemists, geoscientists).

Forensic accounting and medical equipment and supplies distribution are two of the unique specialty programs that the University of Alabama, Birmingham, offers for students seeking high-growth careers. Public administration also offers some security, the University advises, as the government lays off workers at only 25% of the rate of the private sector.

And for many workers, recession-proofing will mean more self-reliance, fluid career paths, and nontraditional work settings. For example, “jellies” are a new form of worker—mostly young entrepreneurs, freelancers, and telecommuters—first introduced by Web entrepreneur Amit Gupta. Unlike a company’s work teams, the members of jelly groups may work for different clients or employers, gathering informally with their fellow jellies to brainstorm and support each other on various projects, notes strategic business futurist Joyce Gioia-Herman.

And if you want to know more about what a Jelly is, this video will help.

more about “What is Jelly? on Vimeo“, posted with vodpod