Job Growth Targets Both High, Low Wage Careers as Middle Suffers
The United States reported adding approximately 180,000 jobs to
payrolls in March 2007, which was slightly higher than expected. With a
workforce of approximately 150 million however, new jobs in March
continued to be either higher wage positions ($100,000 per year or
more) or lower-wage (below general standards of living) with fewer jobs
available in the mid-salary range.
For higher wage earners, TheLadders.com found that the ratio of active
job seekers to high-end job openings has decreased across much of the
United States, creating a job seeker’s market.
“While economic indicators have been sending mixed signals through much
of the first quarter, one consistent source of strength has been the
hiring activity in the $100,000-plus job market,” said Marc Cenedella,
president and CEO of TheLadders.com. “From New York to San Francisco,
we’re seeing companies looking to build their upper ranks.”
Meanwhile, in the nation's most populous state, California's
manufacturing job losses continued in first quarter of 2007 following
the fourth consecutive year of job losses. Some 24,270 jobs were lost
since February 2006 in California alone from a sector long considered a
solid middle-income professional career.
Factory job losses were driven by 1,525 manufacturing establishments
either going out of business or relocating during 2006 according to the
2007 Directory of California Manufacturers, an industrial directory
published annually by Manufacturers’ News Inc., of Evanston, Illinois.
The state has lost 128,296 jobs lost since March 2001 and the number of
reported plants fell 13 percent (or by 4,324) during this time.
California accounts for almost 9 percent of the nation’s manufacturing
employment and 7 percent of nation's plants.
“California exports have increased significantly over the past year,”
said Tom Dubin, president of Manufacturers' News. “However, the state’s
business environment is still among the most expensive in the nation,
and this continues to have an impact-- particularly on small
Southern California accounts for the most manufacturing activity with
65 percent or 18,025 of the state’s plants, 46 percent of which are
located in Los Angeles County. Data shows that central California lost
the largest percentage of manufacturing plants in 2006 at 4.8 percent
with Santa Clara County reporting 3.5 percent fewer companies than one
TheLadders.com’s Quarterly Executive Job Market Trends Report measured
hiring activity across a variety of metrics and found the hottest
$100,000 plus job markets to be New York, San Francisco, Boston, San
Diego, Washington D.C., Chicago, and Seattle. "Thanks in large part to
steady growth among Fortune 500 stalwarts, New York has reclaimed the
title of the hottest job market from close competitor San Francisco,"
the company concluded. The New York metropolitan area is currently
attracting the highest number of job seekers from other parts of the
country. The ratio of job seekers to job postings in New York currently
sits at 2:1. Among the firms doing the most high-end hiring in the
region are MetLife, Avaya, Schering-Plough, and Merck.
Elsewhere, San Francisco and Boston have also seen exceptional strength
in the technology and financial sectors, respectively. Companies such
as Cisco Systems, Google, Sun Microsystems, Fidelity Investments and
Liberty Mutual are all looking to increase their management rolls in
the San Francisco and Boston. Likewise, a very low ratio of job seekers
to job postings has swept across San Diego, Washington D.C., Seattle,
Austin, Philadelphia, Los Angeles, Houston, Chicago, Baltimore, and
The tightest markets were Detroit, Tampa, and Dallas. All three have
seen decreases in out-of-state job searches and stiff competition for
every available opening.
Online job posting behemoth Monster reported that its monthly
employment index rose for March, demonstrating broad growth in online
job demand. Notably there was a high demand for private-sector legal
associates, law school graduates, and summer hires. Online
opportunities for healthcare professionals –-both specialized
practitioners and generalist support staff-– increased sharply in
March. Demand for military specific occupations declined for the fourth
The Monster Employment Index rose eight points to 185 in March 2007.
The increase in online recruitment activity was broadly based, as all
nine regions of the United States' Census edged higher between February
and March. While the gain pushed the Monster Employment Index to a new
historical high, the Index’s current year-over-year growth rate of 13
percent reflects a softer economy now than one year ago, when the Index
grew at an average annual rate of 23 percent.
During the month of March, 15 of 20 industries and 20 of 23
occupational categories tracked by the Index registered increased
online job demand for workers.
“While the Monster Employment Index has registered positive growth in
online recruitment activity over the past two months, and demonstrated
a solid rebound from the seasonal slowdown that extended beyond the
year-end holidays and into January, the Index is still showing signs of
a slower annual growth pace than in previous years,” said Steve
Pogorzelski, group president international at Monster Worldwide.
“The U.S. job market continues to exhibit signs of continued stability,
which should be comforting to active jobseekers. However, tight labor
conditions suggest a fiercely competitive environment for this year’s
crop of college graduates vying for entry-level positions,” Pogorzelski
Jobs typically at $50,000 per year or
Online demand for workers in the transportation and warehousing
industry jumped for the second consecutive month, adding 14 points in
March. The real estate and rental and leasing category also rose,
gaining nine points and extending a fourth-month growth trend. The
utilities sector remains the Index’s fastest growing industry on a
year-over-year basis, followed closely by transportation and
warehousing; and management of companies and enterprises. Online job
demand for healthcare workers also surged in March, as opportunities in
the healthcare practitioner and technical category (up 25 points) and
healthcare support category (up 28 points) rose significantly. A
growing nurse shortage, resulting from high turnover and lack of space
in nursing programs, also continues drive online job recruitment
activity in the healthcare industry.
Jobs typically at $100,000 per year or
Online job availability for legal occupations registered the sharpest
rate of increase among occupations in March, surging 34 points and
extending a three-month growth trend. While online recruitment activity
for legal professionals typically intensifies at this time of the year,
the sharp increase in online recruitment activity in the earlier months
of January and February suggests an overall strengthening in demand for
both experienced attorneys and recent law school graduates, primarily
in the private sector.
Regions with highest growth
Year-over-year, several occupational categories are showing strong
growth in online job availability including legal; protective service;
and community and social services. The slowest growing categories
year-over-year include military specific, transportation and material
moving; and building and grounds cleaning and maintenance.
The Pacific region registering the strongest rate of growth between
February and March, largely due to heightened demand in the southern
California area. The West South Central region also rose sharply,
gaining 15 points. A total of 48 states, plus the District of
Columbia, registered increased online job demand in March, and a
majority of states remain up year-over-year.
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