The dog days of summer are proving to be dogged indeed for job seekers. After adding
an average of 220,000 jobs per month in February, March and April, the job market finished out the first half of the year with a thud, adding just 25,000 jobs in May and 18,000 in June. Still, there is hope that the stalling recovery is more of a summer slowdown than a long-term trend.
According to CareerBuilder’s annual Mid Year Job Forecast, more employers plan to hire new employees in the second half of this year than last year, and — even better — more employers also plan to make these workers full time. Of the nearly 2,700 hiring managers polled for the survey, 47 percent said they plan to hire new workers through the end of the year, up from 41 percent last year; while 35 percent planned to make those workers full-time employees, up from 28 percent one year earlier.
“Last year, certain sectors or departments in companies were producing jobs. This year, the U.S. is seeing job creation in all industries, functions and company sizes,” says Matt Ferguson, CEO of CareerBuilder. Ferguson said the survey findings, job listings on CareerBuilder.com and conversations with employers point to improved hiring in the coming months.
Ferguson cautions, however, that although hiring should pick up again by the end of the year, “higher energy prices, debt, inflation and other factors may deter a significant acceleration in hiring,” meaning that job creation may or may not reach the levels it did in the first quarter of 2011. Still, he says, the survey results are encouraging for the millions of Americans who are looking for jobs.
Here, a closer look at expected hiring through the end of the year.
The best regions for hiring
Anticipated hiring is up over last year in all regions of the country. The South, however, is expected to be the most active region for hiring in the coming months: 38 percent of employers there plan to hire new full-time employees through the end of the year, followed by employers in the West (35 percent), the Northeast (34 percent) and the Midwest (32 percent).
In-demand fields
In keeping with surveys from past years, companies seem to be concentrating their hiring efforts in technology and customer-facing fields. The three functional areas employers plan to hire in first are customer service (23 percent), information technology (21 percent) and sales (20 percent).
To a lesser extent, employers also expressed plans to hire workers in the areas of administration, business development, accounting and finance, and marketing.
Hardest to find
Believe it or not, despite the fact that millions of Americans are having trouble finding jobs, it’s also true that a lot of employers are having a hard time finding employees.
According to the survey results, 50 percent of employers say they’re having a hard time finding skilled workers — a problem that’s experienced in numerous functional areas including information technology, customer service and communication.
Signs to watch
Want to know more about the future of hiring? Following the below gauges will help you get a better picture of where the job market is headed.
•The Conference Board’s monthly employment trends index:The index from the research association analyzes eight different labor market indicators, so it’s seen as a more stable indicator of long-term job market trends. In the last year, it’s gone up 5.4 percent.
•Company earnings: The first quarter of 2011 saw record-breaking earnings for many companies, a trend that, if continued into Q2 could mean good things for jobs in the back half of the year. Most major corporations are set to release their Q2 earnings in the next couple of weeks.
Original Article
Kaitlin Madden is a writer and blogger for CareerBuilder.com and its job blog, www.The Work Buzz.com.