September 2018 |
Transition-e-news Volume 4 Issue 146 |
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US hiring picked up in August as pay surged most in 9 yearsby By CHRISTOPHER RUGABER | Associated Press | ©2018 Stars and Stripes, all rights reserved, reprinted with permission WASHINGTON — The pace of hiring in the United States quickened in August, and wages grew at their fastest pace in nine years — evidence that employers remain confident despite the Trump administration's ongoing conflicts with its trading partners. The economy added a strong 201,000 jobs, and the unemployment rate stayed at 3.9 percent, near an 18-year low, the government said Friday in its monthly jobs report. Taken as a whole, the data pointed to a job market that remains resilient even after nearly a decade of economic growth — the second-longest such stretch in U.S. history — and even with tariffs and counter-tariffs on imports and exports looming over U.S. employers that rely on global trade. The economy is expanding at a healthy pace, fueled by tax cuts, confident consumers, greater business investment in equipment and more government spending. Growth reached 4.2 percent at an annual rate in the April-June quarter, the fastest pace in four years. "I view this as the strongest job market in a generation," Andrew Chamberlain, chief economist at Glassdoor, a career website. Even while reporting a robust job gain for August, the Labor Department revised sharply down its estimate of hiring in June and July. The government now says employers added 50,000 fewer jobs in those two months combined than it had previously estimated. But the 201,000 job gain in August was nearly equal to the average gain of 196,000 over the prior 12 months, evidence of how consistent job growth remains. Average hourly pay jumped 0.4 percent in August and increased 2.9 percent compared with a year earlier. That's the fastest annual gain since June 2009, when the Great Recession ended. Still, rising inflation, which also reached 2.9 percent in July from a year earlier, has offset that gain. Yet most economists said they saw the pay increase as an encouraging sign that the low unemployment rate is compelling more employers to raise pay in order to compete successfully for workers. "It looks like we're finally seeing that acceleration in wage growth that we've been waiting for," said Gus Faucher, chief economist at PNC Financial Services. "It's good news for workers' paychecks, it's good news for consumers and it's good news for the overall economy." The rising wage and jobs data make it a near-certainty that the Federal Reserve will raise short-term interest rates when it meets later this month, economists said. Most Fed watchers also expect another rate hike in December and perhaps two more next year. The prospect of higher borrowing costs — as well as bigger paychecks, which can cut into corporate profits — appeared to hold back the stock market Friday. The Dow Jones industrial average fell 104 points in mid-day trading. Jason Mazzarone, chief executive of SoBol, a restaurant chain that sells a variety of acai bowls, says he is paying workers more, mostly because of higher minimum wage laws in New York and other states where his 26-store chain operates. He has also raised pay for other workers who were already earning more than the minimum. On New York's Long Island, for example, where many of his outlets are located, the minimum wage will reach $12 an hour by year's end. For shift managers now making $16 an hour, Mazzarone said, "their pay has to go up too." The Trump administration has imposed tariffs on imported steel and aluminum as well as on $50 billion of goods from China. U.S. companies across a range of industries have expressed alarm about those import taxes and about counter-tariffs that other nations have imposed on U.S. exports. The White House has also threatened to hit China with higher taxes on $200 billion more of Chinese goods. Yet so far, there are few signs that those concerns have affected overall hiring. Manufacturers cut 3,000 jobs last month, the first time they have cut jobs in about a year. Factories have taken the most direct hit from higher tariffs, with automakers, aerospace, and machinery companies absorbing higher steel and aluminum costs. Automakers accounted for all the losses, cutting nearly 5,000 jobs. Still, those losses might not fully reflect trade disruptions. Automakers typically retool their factories for new model year cars over the summer, which can temporarily distort the job figures. Friday's jobs report showed that professional and business services, a category that includes both higher-paying fields such as engineering and accounting and lower-paying temp jobs, led August's job growth with 53,000 added positions. Health care providers added 33,000 and transportation and warehousing companies 20,200, the most in nearly a year. Manufacturing shed 3,000 jobs, its worst showing in more than a year. Retailers cut 6,000 positions, a surprising drop given reports of strong sales by such leading retailers as Target, Walmart and Best Buy. Most analysts have forecast that the economy will expand at an annual pace of at least 3 percent in the current July-September quarter. For the full year, the economy is on track to grow 3 percent for the first time since 2005. Consumer confidence rose in August to its highest level in nearly 18 years. Most Americans feel that jobs are widely available and expect the economy to remain healthy in the coming months, according to the Conference Board's consumer confidence survey. In August, factories expanded at their quickest pace in 14 years, according to a survey of purchasing managers. A manufacturing index compiled by a trade group reached its highest point since 2004. Not all the economic news has been positive. Higher mortgage rates and years of price increases are slowing the housing market. Sales of existing homes dropped in July for a fourth straight month. Many economists also worry that President Donald Trump will soon follow through on a threat to impose tariffs of up to 25 percent on $200 billion of imports from China. That would be in addition to $50 billion in duties already imposed. |
Navient named a 2019 Military Friendly EmployerNavient Corporation - Associated Press - reprinted with permission All rights reserved WILMINGTON, Del., Sept. 12, 2018 (GLOBE NEWSWIRE) -- Navient announced today it has been awarded gold status as a Military Friendly Employer for 2019. Presented by VIQTORY, publisher of G.I. Jobs magazine, it is the fifth consecutive year Navient has received the Military Friendly Employer designation. “At Navient, we value the service our military employees provide to their country and to our customers,” said Mike Maier, senior vice president and U.S. Navy veteran. “We’re honored to be recognized for our commitment to providing military veterans an opportunity to build meaningful careers with our company.” Since 2003, the Military Friendly Employers list is created each year based on extensive research. Out of more than 8,800 employers, the 226 companies earning Military Friendly Employer recognition were evaluated using public data sources, input of military employees and responses to the proprietary, data driven Military Friendly Employers survey from participating companies. The survey questions, methodology, criteria and weightings were developed with the assistance of an independent research firm and an advisory council of educators and employers. Data calculations and tabulations were independently evaluated for completeness and accuracy by Ernst & Young. Navient will be featured along with other 2019 Military Friendly Employers in the December issue of G.I. Jobs® magazine and on MilitaryFriendly.com. Navient provides veterans with employment opportunities, offers mentoring and development and raises funds and awareness for veterans. For more information about how the company supports veterans and to learn about career opportunities, visit the specialized veterans career site. Connect with @Navient on Facebook, Twitter, LinkedIn and Medium. Contact: Nikki Lavoie, 302-283-4057, nikki.lavoie@navient.com About NavientNavient (Nasdaq: NAVI) is a leading provider of asset management and business processing solutions for education, healthcare and government clients at the federal, state and local levels. The company helps its clients and millions of Americans achieve financial success through services and support. Headquartered in Wilmington, Delaware, Navient also employs team members in western New York, northeastern Pennsylvania, Indiana, Tennessee, Texas, Virginia, Wisconsin, California and other locations. Learn more at navient.com. |
8 Ways Job Search Advice Messes With Your Head© Copyright, 2018, Susan P. Joyce. / Ronnie Ann | Work Coach Cafe | All rights reserved. So. Here I am with a job search and interview advice blog. Am I really going to say don’t trust everything you read on career and job search sites? Well…yes. There are some truly great career sites out there and a lot to be learned from browsing them…and I humbly hope you include this site in at least some of your browsing. BUT…there is also a lot of advice out there telling you how to sell yourself in an interview or job search that is either just plain bad advice or assumes you have more understanding of the interview process than you do, and therefore maybe doesn’t provide the exceptions and caveats you need to apply even useful advice to your best advantage. Now I’m not saying career experts do this on purpose. But there are different reasons people blog and different perspectives they blog from – and one size does not fit all. Plus, quite candidly, anyone can declare themselves a career expert, but that doesn’t mean you’re getting good advice. Yes…even question what you read here and use only what feels right for you. While I certainly try my best to give you solid advice and take in all possibilities I can think of, no one is perfect. And no one has all the answers. So that said, my best advice about job search advice is to read as much advice as you can stand – this way you do get to see different perspectives and find some sites you feel especially good about – but then (even for the very best sites) find a way to make it work for you and your own unique needs. Job Search & Interview Advice to Watch Out For
Summary thoughts on job search & interview advice samplesSo…to break my own rule…ALWAYS come up with your own words and spin on career site advice. Check around to see what else is out there that may feel right to you. And above all, absolutes should positively always absolutely be a red flag when evaluating job search advice. Some more Work Coach Cafe articlesWho the Heck is Screening Your Resume? Are You Getting Screwed By Your Professional Resume Writer? Did I Screw Up My Job Interview Thank You Letter? Should I Mention Nervousness in My Thank You Letter? Scary Job Interview Thank You Note Story What the Heck Goes On Behind the Scenes After a Job Interview? 7 Resume Landmines That Can Blow Up AFTER an Interview How to Handle Annoying Red Flags in Your Resume When It Comes to Resumes…Sweat the Small Stuff! How Your Lead-off Batters Make or Break Your Resume Brand 10 Things I Look for When I Screen Resumes & Cover Letters
About the Author… |
Wisconsin blitz to attract veterans, spouses to live, work in stateBy MIKE TIGHE | La Crosse Tribune, Wis. | ©2018 Stars and Stripes | Reprinted with permission, all rights reserved. (Tribune News Service) — Wisconsin is launching a $1.9 million national marketing campaign to attract military personnel and their spouses to the Badger State to live and work when they leave the service. The talent quest will include online ads and personal contact, among other features, to lure military personnel to Wisconsin when they leave the service, according to speakers who detailed the program during a press conference Friday at Logistics Health Inc. in La Crosse. The campaign is part of the state's new $6.8 million marketing initiative aimed at attracting talent to fill current and future workforce needs. It is the first time the state has targeted military personnel and spouses with such a campaign. One of its key elements will be sending delegations composed of state officials and veteran-friendly companies in Wisconsin, such as LHI, to "transition summits" at more than a dozen military installations throughout the nation and overseas, said Daniel Zimmerman, secretary of the Wisconsin Department of Veterans Affairs. "There simply ... aren't enough veterans to go around for Wisconsin," Zimmerman said. "Several hundred employers have several thousand jobs" ranging from entry level to top positions, he said, as an estimated 200,000 to 250,000 veterans transition to civilian life. Sending Wisconsin envoys to the summits to recruit service members and their spouses several months before discharge will put the Badger State at the forefront of their minds, Zimmerman said. "Our veteran population doesn't always return home," he said. "We can sit back and wait" or pursue them before they even leave the service. The nonprofit Hiring our Heroes organization hosts the two-day summits. Wisconsin is the first state to partner with the group, an arm of the U.S. Chamber of Commerce Foundation. LHI will be represented at the first summit a Wisconsin delegation will visit. That summit will take place Wednesday and Thursday at Camp Pendleton Marine Corps Base in California. The delegations also will participate in spouse symposiums, round tables, networking events and similar opportunities. LHI founder and CEO Don Weber addressed the press conference by beginning, "I never fail to take the opportunity when I'm before a microphone to thank our veterans. ... This company would not be what it is today without veterans." Weber's goal is to have veterans or their spouses make up 20 percent of LHI's workforce of nearly 2,400 people, and he said it has reached 11 percent. Noting that only about 1 percent of the population enters military service, Weber said, "Our veterans and spouses – think about the sacrifices they have made. They enlist because it is an honor and a privilege, and they go outside the comfort zone where most of us live." Veterans and their spouses model courage and dedication in volunteering to serve in positions in which "they don't do it for the pay," he said. Weber, a Marine veteran of the Vietnam War who usually is reluctant to talk about his own life, responded during an interview to a question about being homeless on the streets of Boston not long after mustering out. "I had been out for a while, and I carried a lot of guilt," said Weber, who received a Purple Heart and two Bronze Stars. "Most of the Marines I served with didn't come back. I had a lot of self-pity, and that is the worst kind of pity. I made a lot of bad choices and dug a hole for myself." After losing a job and an apartment, he said, he realized "I needed to make better choices. I began laying water and sewer pipes and putting in driveways on weekends," he said. After digging out of the hole two years later and driven by the strong work ethic he learned being raised on a farm, he came back to La Crosse at the age of 28 and met Roxanne, the woman who would become his wife. "We didn't have any money," he said, and their business went bad and was repossessed. Nine years later, he got the LHI idea to help provide health services to military personnel and veterans – an idea that turned into a multimillion-dollar business. "I thought maybe this was a way to give back," he said, adding that LHI's involvement with the state veteran initiative is another step along that path. The campaign is a collaborative effort of the state's Economic Development Corp. and the Workforce Development, Veterans Affairs and Tourism departments. Other campaign elements include:
"Why would you not hire veterans?" Weber said. "It's the right thing to do, and we're very proud to be a part of it. If you're a business owner or business leader, you ought to be fighting for these people." Veteran recruitment initiativeA $325,000 media campaign in Wisconsin's initiative to attract military veterans and their spouses to live and work in Wisconsin will include:
Additional elements in the campaign will include:
(c)2018 the La Crosse Tribune (La Crosse, Wis.) |
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