Expect Job Recovery to Be Gradual U-Shaped

Job Search Market Update: By most accounts the economic experts feel the job market is returning, but slowly. Fed's Kocherlakota says there will not be a V-shaped recovery due to the increases in public debt, restricted bank lending, and the financial situation in Europe.

Most experts agree that this recession is primarily driven by structural unemployment. There are a variety of jobs that most likely will not return. This is due in part to the labor market "correcting" itself for a period of over expansion, a shift toward leaner staffing, and organizations that have created operational efficiency changes. The combination of all of this has resulted in the reduction of costs, increased efficiencies and increased revenues for organizations. Comapanies are relucant to increase expenses by expanding their labor force, unless absolutlely necessary.

The decrease in home equity coupled with the decrease in investment accounts, still have the consumer cautious, though they seem to be slowly coming out of their shells. The companies will continue to slowly add jobs and hire as their confidence also returns.

Job Search Tips: Economists predict 3 industries that they do not expect the jobs to return to pre-recession levels, retail, manufacturing and advertising segments. (Moody Analytics predicts as Americans buy less cars and houses, 1 million jobs in auto, steel, furniture and other manufacturing industries will not return). My tip for this week is avoid spending the bulk of your time looking for a job in these segments.

Job Search Action Item: Register now for this Monday May 17, 2010, 9am-10am Tele Class, "Professional Salary Negotiations Tips". Register through our mailing list opt in box, RSVP May 17, 2010 section. 

Think about other industries that are aligned to your primary industry experience that you should consider contacting during your job search this coming week.

Job Search Mental Health Tip: Attempt a simple DIY project around the house, where you can visibly see the change of something you improved or fixed.

Have a great week! Good Luck!

Eleanor Anne Sweet

The Job Search Experts

www.TheJobSearchExperts.com

Sources for today's blog: "Millions of Jobs that were cut wont' likely return" by Chirstopher Rugaber (AP), I am suggesting for those interested in some of the previous economic recessions history to read, "Has Structural Change Contributed to a Jobless Recovery?" by Erica Grosben and Simon Peter, Fed Reserve Bank of NY, Volume 9, Number 9 August 2003.

Job Market Improving, Unemployed re-enter Job Search Mode

Job Search Market Update: April was the 4th month in a row that the economy added workers, 573,000 jobs added in the first 4 months of this year! There are still more than 15.3 million unemployed last month. In April 290,000 jobs were added; 231,000 of the jobs added were by private employers and 66,000 were temporary jobs for the 2010 Census by the federal government. Employment increased in the professional and business sectors, leisure and hospitality and the manufacturing industry. The Labor Department has issued numbers that tell us 45.9% of all the unemployed people have been without a job for 27 weeks (9 months) or more. This unfortunately is a record high since they started keeping their records.

Job Search Tip: Research and look into job opportunities in leisure, hospitality, manufacturing industries. Look into companies that have seasonal products, services or needs that will become strong in the summer months starting now through fall. There may even be some seasonal jobs that could be temporary now but lead to full time employment once you have the ability to show them what a great employee you are!

Job Search Action Item: Sign up for our next audio Tele Class, Monday May 10, 2010, 9am-10am, CST, 7am-8am PST, "Interview Question Strategies and Tips 101". On this web site go to "Join our Mailing List" and check Registration/RSVP Tele Class May 10th.  Take a field trip to Home Depot, Lowes, Menards, and other outdoor seasonal operations in your area. Look for product and companies you get excited about. Monday go to the library and research those companies in depth. Make a goal of mailing your cover letter and resume to them on Tuesday.

Job Search Mental Health Tip: Take time off from your job search campaign and spend Mother's Day with your mother and some special people in your life. I lost my mother, Margery on June 20, 2007. I think to a certain degree I took Mother's Day for granted. Now on Mother's Day I really miss her. Luckily for me I have a wonderful daughter and son. Hug your own mother for me. You will be surprised how much positive energy you can get from a hug from someone that loves you unconditionally!

Eleanor Anne Sweet

The Job Search Experts

www.TheJobSearchExperts.com

This week market update was in part from The New York Times, Christine Hauser