October, 2006

The September job numbers showed the worst increase in new hires since post-Katrina October, 2005. Showing only an increase of 51000 jobs, economists are speaking of a soft landing for the economy, general slowing of gthe economy and other rubbish.

I'm going to take a differnt approach to the job market than what you are seeing in the popular press.


Since I started to carry layoff notices in this blog, it should be obvious to you that manufacturing jobs are being regularly cut in the US. Take a look at the listings of these firms--all manufacturing. What isn't being spoken about in the government report are the number of companies that are having trouble hiring white collar workers because the skills being sought don't match up with what they are trying to hire.

Recently, one client human resources person lamented that his firm had very ambitiuos goals that he feared might fall by the wayside because they could not hire enough people in the 4th quarter this year. What was the problem? Well their positions require specific knowledge of the securities industry and strong performers in that sector won't change jobs and give up their bonus.

That is not a unique story.

Another firm, a $1+ billion offshore consultancy, can't hire enough people for the work theyt are getting in the US. These are all high paying jobs (between $100000 and $200000 in compensation) but jobs are still going begging because they can't find enough people.

The skilled labor markets are getting squeezed as a result of the impact of the long last recession (few people entered the labor market for two years) and now firms are finding an inadequate supply.

Coupled with the deep cuts in the H-1b program (fewer than 75000 H-1b visas granted per year) and an economy that is hitting on all cylinders now that gas prices are down, the 51000 number is being misinterpreted.

I'm expecting to have a new service for job hunters available early next year. Keep an eye out on www.jeffaltman.com for the announcement. It will help you get job leads much easier.

Jeff Altman

The Big Game Hunter
Concepts in Staffing
jeffaltman@cisny.com

© 2006 all rights reserved.

Jeff Altman, The Big Game Hunter, is Managing Director with Concepts in Staffing, a New York search firm, He has successfully assisted many corporations identify management leaders and staff in technology, accounting, finance, sales, marketing and other disciplines since 1971. He is a certified leader of the ManKind Project, a not for profit organization that assists men with life issues, and a practicing psychotherapist.

To subscribe to Jeff’s free job search ezine, Head Hunt Your Next Job, go to www.headhuntyournextjob.com. For Jeff’s free recruiting ezine, NaturalSelection Ezine, subscribe at www.naturalselectionezine.com To receive a daily digest of positions emailed to you or search for openings, go to http://www.jeffaltman.com. For information about personal search services, go to www.VIPPersonalSearch.com.

If you would like Jeff and his firm to assist you with hiring staff, or if you would like help with a strategic job change, send an email to him at jeffaltman@cisny.com (If you’re looking for a new position, include your resume).