U.S. economy added 171,000 jobs in October | More new jobs are permanent, Labor Department says | Sandy won't alter fourth-quarter GDP, economists say
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November 13, 2012
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U.S. economy added 171,000 jobs in October
The U.S. economy added 171,000 jobs and the unemployment rates ticked up to 7.9% in October, according to the Labor Department's latest jobs report. Economists expected the report to show that 125,000 jobs were added and that the unemployment rate would remain at 7.8%. CNBC (11/2)
Economic Trends
More new jobs are permanent, Labor Department says
As job creation accelerates in the U.S., private-sector employers are increasingly hiring people for permanent positions rather than hedging their bets with temporary workers, according to Labor Department statistics. From July to October, job creation averaged 173,000 a month, but growth in the number of people employed by temporary-help services was down sharply from the first half of 2012. Bloomberg (11/9)
Sandy won't alter fourth-quarter GDP, economists say
Damage and disruption caused by Hurricane Sandy probably won't have significant effect on U.S. economic growth this quarter because natural disasters tend to slow economic activity, then stimulate it, economists said. "We expect any lost output [during the week of the storm] will be made up in subsequent weeks, minimizing the effect on fourth quarter GDP," Moody's Analytics senior economist Ryan Sweet wrote in a research note. The Washington Post (tiered subscription model)/Wonkblog (10/29)
Other News
Talent Acquisition/Recruiting
6 search techniques to give you better LinkedIn results
LinkedIn is a powerful recruitment tool, but recruiters can hone their search techniques for better results, Erin Palmer writes. For example, avoid overuse of parenthesis and quotation marks in searching job titles because it can limit results. Also, use the Search Alert feature to automatically check daily for possible candidates, Palmer writes. The Seamless Workforce blog (10/23)
Long, drawn-out hiring processes can drive away talent
Taking too long in the hiring process can drive away a top candidate, so make sure the team interviews and evaluates the talent within about three weeks, Keith Cline writes. "I'm not suggesting a knee-jerk reaction because you still need to be thorough and do a proper evaluation. But you should give a candidate a sense of 'Wow, we like you!' and reassurance that he or she is your No. 1 priority," he writes. Inc. online (free registration) (11/9)
Other News
Employer Branding
CSR programs help attract top talent, companies say
Companies with strong corporate-social-responsibility programs have workers with higher morale and greater loyalty, a Society for Human Resources Management study says. Millennials especially are attracted to companies where they can participate in sustainability efforts, companies say. "Eighty percent of our employees volunteer. If we ever stopped it, they would revolt," said Michelle Russo of Discovery Communications. CNN (11/8)
Pingpong challenges help build culture of fitness
An office pingpong table, hockey and baseball teams, and 15-minute daily stretch breaks are some of the ways Search Engine People builds camaraderie while helping workers stay healthy, CEO Jeff Quipp says. "Our philosophy is win-win-win. We need our people to be healthy, be happy -- if you?re not happy you won?t take care of customers ? and enjoy the company,? he says. The Globe and Mail (Toronto) (tiered subscription model) (11/8)
Internal Communications
How HR and finance can learn to get along
Most HR directors say they should be in charge of their organization's talent-management strategy, but the majority of CEOs and finance chiefs disagree, saying that finance departments should be in control, according to a survey by the American Institute of CPAs. In reality, HR and finance need to work together. HR can be especially helpful in broadly defining an organization's talent philosophy, while finance can establish metrics that enforce the philosophy and ensure accountability, experts say. Human Resource Executive (10/11)
From the Shaker Blog
Why recruiters shouldn't ignore video as a branding tool
Posting videos online can be a powerful way to build your company's employment brand, as comScore reports that 85% of U.S. Internet users viewed videos online in September and the average length of these videos was 6.4 minutes. Google websites such as YouTube posted the most online videos in September, followed by Yahoo and AOL. Shaker Recruitment Advertising & Communications Blog (10/31)
Mobile Internet usage is growing, survey indicates
More than 40% of Americans now use their mobile devices to access the Internet during a typical week, up from 31.6% a year ago, according to the New Media Audit Survey On Mobile Internet Users. Young and affluent people are more likely than other demographics to be mobile Internet users, the survey indicates. Shaker Recruitment Advertising & Communications Blog (10/30)
SmartQuote
For the happiest life, rigorously plan your days, leave your nights open to chance."
-- Mignon McLaughlin,
American author and journalist
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