Three Signs the Economy is in Recovery Mode
According to the March 2011 jobs report released last week by the Labor Department, 216,000 jobs were added and the unemployment rate fell to a two-year low of 8.8 percent. AOL Jobs recently spoke to Tig Gilliam, CEO of Adecco Group North America, a leading provider of HR Solutions, to learn more about employment growth and trending industries.
The outlook is positive, and Gilliam sees the March numbers as a confirmation that the market is fully in recovery mode. Here are his other observations.
1. Temp jobs are on the rise.
According to Gilliam, temp jobs make up at least 17,000 of the new jobs added. Temporary employment can be a win-win solution for employers and employees. The arrangement allows both parties to "test drive" the job, and frequently the temp employee is the first person considered for the position if the job later gets approval to become a full-time position. Gilliam has seen growth in the demand for temps in industrial and manufacturing jobs as well as IT, finance, and health care.
2. Full-time jobs are coming back in multiple industries and across multiple levels.
Gilliam claims that manufacturing and industrial jobs are always the first to recover in a recession and their recovery helps fuel growth for other jobs. He has seen a rise in the business and professional services sector with a strong demand for engineers, financial analysts, call center employees, and clerical workers.
3. There has been a slight shift from an employer to an employee market.
In 2009, offers were few and far between, the likelihood of candidates receiving multiple offers was slim, and with such a scarce inventory of available jobs, the ability of the job seeker to negotiate a favorable compensation package was severely impaired. As of the first quarter of 2011, Gilliam sees the pendulum shifting as more candidates are now receiving multiple offers and beginning to negotiate more robust and competitive packages.
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