Where does the U.S. Rank in Top Talent?

GTCI_2014_USAWith 2.95 million jobs added in 2014—the strongest year of growth since 1999—and unemployment rates in the mid-five percent range, it may be easy to believe that the labor market challenges of the last few years are a thing of the past, but are they?

Unfortunately, the answer is no. The economy has opened up, but the reality is that the workforce is something that continuously evolves—something that will only become more apparent as globalization impacts the way we work.

The main currency of this evolving workforce? Top talent. It’s no question that other countries are competing to develop, attract and hold on to the best of the best, so where does the U.S. fall in the mix?

According to the 2014 edition of the Global Talent Competitiveness Index (GTCI), an index that illustrates and measures how countries ranked in producing, retaining and attracting talent, the U.S. took the 4th spot out of 93 coming after Switzerland, Singapore, and Luxembourg.

What does the GTCI tell us about building a more competitive environment for talent?
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Job Market Update: Employment Increases in Metro & Regional Areas

Regional and State Unemployment

Looking at the latest BLS “Metropolitan Area Employment and Unemployment – December 2014” report, we see that unemployment was lower in December than a year earlier in 341 of the 372 metro areas. Unemployment was higher in 25 areas, and stayed the same in 6 areas. 158 metropolitan areas had rates of less than 5 percent, while 14 areas had jobless rates of at least 10 percent. The national unemployment rate in December was 5.4 percent, down from 6.5 percent a year earlier. Jumping forward, the current unemployment rate, as of January, is 5.7 percent.
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Job Market Update: 2015’s Leading Industries

Job-Market-Today

Source: The U.S. Bureau of Labor Statistics “The Employment Situation – January 2014″ 

The highest employment gains occurred in retail trade, construction, health care, financial activities and manufacturing, however, the unemployment rate saw little change, finishing at 5.7 percent. Taking a closer look at the industries, here are some key sector highlights from the BLS “The Employment Situation – January 2015” report:

RETAIL

Employment in retail rose by +45,900 in January. The largest three subsectors of retail accounted for over 50 percent of that gain – sporting goods, hobby, book and music stores (+8,500); motor vehicle and parts dealers (+7,700); and nonstore retailers (+6,300).
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Job Market Update: 2015 off to a Healthy Start Adding 257,000 Jobs

Job-Market-Today

Source: The U.S. Bureau of Labor Statistics “The Employment Situation – January 2015″ 

Great news in the labor market! January brought 257,000 new jobs to the U.S. economy – a jump of 5,000 from December and 113,000 from this time last year.

As reported last month, 2014 saw an average job growth of 246,000 per month, and was the most successful year of job growth we’ve seen since 1999. Based on January’s numbers, 2015 is off to a healthy start.
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The Professional & Business Services Sector Leads December’s Job Growth

October US Jobs Report

Source: The U.S. Bureau of Labor Statistics “The Employment Situation – December 2014″ 

Employment gains were highest in professional and business services, construction, food services and drinking places, healthcare and manufacturing. Here are some key sector highlights from the BLS “The Employment Situation – December 2014” report:

Professional and Business Services

This industry reported 52,000 added jobs to the economy (19.5 million total workforce), for a total of 732,000 year-over-year growth. The employment services subsector continued its upward trend with 16,200 new jobs (3.7 million total workforce), with 14,700 jobs coming from the temporary help services subsector (2.9 million total workforce). Administrative and support services added 34,400 jobs (8.5 million total workforce). Computer Systems and design services added 9,000 new jobs.
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Job Market Update: Metro & Regional Area Highlights

BLS-regional-metro-data-on-BLS-employment-report

Regional and State Overview:

Looking to the BLS’ latest “Regional and State Employment and Unemployment” report, both regional and state unemployment rates saw little change in the United States during the month of November. 41 states and the District of Columbia had unemployment rate decreases from October, three states had increases, and six states had no change. Forty-three states and the District of Columbia had unemployment rate decreases from this time last year, four states had increases, and three states had no change.
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