U.S. Employment Outlook
|July 2011Simply Hired, Inc.|
Summer hiring slump.
Nationwide job openings continued to decline for the secondconsecutive month, dropping -3.8% from May. Openings were up 21.9% year-over-yearfrom 2010. “The decline in job openings signifies that employers are less confidentin the economy right now,” said Gautam Godhwani, CEO of SimplyHired.com. “Hiringis likely to be slower as we ride out the effects of events abroad, but we should see anatural increase again at the end of summer when fall hiring begins.”
Hiring slows further in major metros.
Additional metros experienced declines in jobopenings in June. Forty-six of 50 metros posted losses, 14 more than the previousmonth. The four metros that did not lose job openings saw insubstantial growth:Louisville (1.7%), Birmingham (1.4%), Detroit (0.1%) and Pittsburgh (0.0%).
Retail and finance remain most secure.
Despite employer uncertainty of futureconsumer spending, retail salespersons continued to have the most job openings of anyoccupation category, up 62.8% month-over-month. Similarly, openings for finance andaccounting specialists were up 27.7% for the month, indicating that job seekers mayhave more luck in either of these fields.
Employment Impact: World Economy
Decrease in manufacturing jobs.
Hiring in the manufacturing industry dropped forthe first time in six months, down -7.7%. Job openings for manufacturing workers werealso down, -3.6%. Reduced hiring in the industry is likely the result of insecurity aboutconsumer spending trends, as the European Union’s debt troubles and other financialissues in Japan and China shake the world economy.
Automotive industry slows again.
Since the earthquake crisis in Japan, automotivehiring has declined (-2.8% in May, -5.6% in June). The industry was previously on themend, with major US manufacturers hiring for the first time in years; following theearthquakes, however, automotive production all but ceased due to parts shortages.Hiring is expected to increase again near the end of the year, as Japan slowly rebuilds.