Climbing the Career Ladder with an Hourly Job

For the ninth month in a row, the national unemployment rate has remained below 5 percent, a clear indication that the economic recovery in the U.S. continues to progress. The results of a recent workforce survey by Snagajob and LinkedIn recognizes this development, and paints a positive picture of the overall employment situation.

Snagajob CEO Peter Harrison says the company's research highlights encouraging trends for hourly workers and managers.

"With a low unemployment rate, and a dramatic spike in the amount of open hourly positions and jobs, it's a job seeker's market right now," he stated. "As the competition between employers increase, this data helps hourly employers understand what workers want out of a job to help improve recruitment, improve engagement and reduce turnover."

Advancing your career in an hourly job

Based on Snagajob's research and engagement with 75 million hourly workers and nearly a half a million employers, one of the issues that came to the forefront was "a real need for resources to guide hourly workers through their employment journey," Harrison noted.

The workforce survey analyzed 16 business sectors and examined issues like employee engagement and how long it takes to get hired and promoted. It also provided insights on career growth opportunities and the advantages of having a well-rounded skillset.

The path to promotion

Among the skills that help workers advance in restaurant and retail careers are a basic understanding of finance, management and new store development skills. The restaurant industry tends to provide a faster path to managerial roles than retail, although, statistically, hourly workers in beverage, crafts and furniture businesses get promoted to managerial jobs the fastest.

Some specialized knowledge is necessary to advance in management positions, but a business education can help applicants gain a foundation and competitive edge for moving on to higher-level jobs.

Why recruiting skills matter

The ability to recruit and retain staff is the most universally valuable skillset in the restaurant and retail sector. The survey results also suggest that management candidates and trainees who show initiative in learning skills like recruiting, hiring, employee scheduling, staff development, and employee relations boost their chances for promotions. Other strengths that lead to career advancement and management opportunities include financial forecasting ability, operations management potential, and a proactive attitude toward improving bottom-line profits.

Getting hired quickly

Since financial need is often a primary motivator among hourly workers seeking employment, one of the metrics Snagajob focused on is hiring speed. As the report states, "For many hourly workers, getting a job quickly is the difference between being able to pay the bills or not."

On the average, the turnaround time for restaurant hiring is several days less than that of retail businesses. Restaurants average 15 to 27 days between the date of an application and the resulting job offer. The average lead time for retail stores is 33 days. One of the key takeaways in the report is that faster results can sometimes be produced by targeting certain types of businesses.

"If you're looking to get hired quickly, the data shows sandwich shops, sports stores and casual dining restaurants are your best bets – they hire the fastest among the 16 sectors we analyzed," said the report.

By focusing on objectives like increasing operational efficiency, improving training procedures, and developing practical marketing ideas for the business, hourly workers can position themselves for promotions, recognition, and upward mobility in their careers.

- See more at: http://www.businessnewsdaily.com/9814-hourly-job-skills-promotion.html#sthash.wUMoHJGx.dpuf

Under Trump, unemployment rate rises for Black workers

During President Donald Trump’s first full month in office, the Black unemployment rate rose as the White unemployment rate fell, according to the latest jobs report.

Key employment indicators show that Black workers lost ground in February. The unemployment rate for Black workers increased from 7.7 percent in January to 8.1 percent in February. The labor force participation rate, which is the share of the population that is employed or looking for work, ticked down from 62.4 percent to 62.3 percent in February. The employment-population ratio, which is the share of the population that has jobs, also declined for Black workers from 57.5 percent to 57.3 percent in February.

Meanwhile, the White unemployment rate inched closer to 4 percent, decreasing from 4.3 percent in January to 4.1 percent in February. The labor force participation rate and the employment-population ratio for White workers also improved.

The jobless rate for White men 20 years-old and over dipped below 4 percent in February (3.8 percent). Even though the labor force participation rate for White men slipped from 72.1 percent to 72 percent, the employment-population ratio for White men increased from 69.2 percent in January to 69.3 percent last month.

The unemployment rate for White women 20 years-old and over decreased from 3.9 percent in January to 3.7 percent in February. The labor force participation rate and the employment-population ratio for White women also showed gains in February, which indicates that White women were able to join the labor market and find work at higher rates last month compared to January.

Black men fared worse than other adult groups in the job market last month.

The unemployment rate for Black men over 20 years-old increased from 7.3 percent in January to 7.8 percent in February. The labor force participation rate slipped from 68.1 percent in January to 67.8 percent in February. The employment-population ratio also declined, falling from 63.1 percent to 62.5 percent in February, the biggest decline for any adult group that month.

Not only did the unemployment rate for both Black men and women 20 years-old and over move in the opposite direction to their White counterparts, the share of Black men and women that looked for jobs and found work decreased from January to February.

Before his inauguration in January, President Donald Trump often questioned the Labor Department’s monthly jobs report, but when the latest report was released on March 10, White House officials expressed their enthusiasm about the results.

During the press briefing after February’s jobs report was released, White House Press Secretary Sean Spicer was asked if President Trump believed that February’s jobs report was accurate.

Spicer answered, “[President Trump] said to quote him very clearly, ‘They may have been phony in the past, but it’s very real now.’”

Laughter was heard audibly in the White House Press Briefing Room.

Even as the White House appeared to be claiming another victory on the jobs front, Ben White, the chief economic correspondent for POLITICO and a CNBC contributor noted that February’s big jobs number was very similar to 2016 and 2015.

“Hard to see any Trump bump in these numbers. Nearly identical to last two Febs. Feb. 2015: 238K Feb 2016: 237K Feb. 2017: 235K,” White tweeted.

Others said that February’s jobs report was just a continuation of President Obama’s policies.

In a statement about the latest jobs report, Michael Madowitz, an economist for the Center for American Progress, said that the current Labor market trends originating in the Obama years continued this month, with 235,000 jobs added and the unemployment rate decreasing slightly to 4.7 percent.

“Since the employment recovery began in February 2010, we’ve added nearly 16 million jobs, and the steady tightening of the labor market has finally started to deliver wage growth for workers, increasing 2.8 percent over the past year,” Madowitz said in the statement. “These statistics show that the economy has continued to build on the foundation and success of the past few years and tell the story of the economy far more accurately than the Trump administration’s focus on the 30 large companies in the Dow.”

Madowitz continued: “In his first 49 days in office, President Donald Trump has discussed loosening oversight in financial markets, which may force the Federal Reserve to raise interest rates to prevent financial bubbles. Rolling back protections, updating overtime standards, and endangering Americans’ retirement savings have delighted Trump’s Wall Street and corporate base but are cold comfort for the American worker.”

In a statement about the February’s jobs report, Rep. Bobby Scott (D-Va.) said that President Trump inherited a growing economy from his predecessor.

“President Trump claimed he was handed ‘a mess’ by the Obama Administration, but we know that is not accurate,” said Scott. “Under President Obama the unemployment rate was cut in half while GDP and median income rose.”

Scott quickly pivoted to the embattled Affordable Care Act (ACA), adding that the Republican bill to repeal and replace the ACA would cause millions to lose their insurance, force families to pay more for fewer protections, defund Planned Parenthood, and give huge tax cuts to people in the top 1 percent.

Scott concluded: “[The Republicans] have gambled with families’ health care as they continue to undermine the Affordable Care Act and the insurance Marketplaces. They have put forward policy ideas that would weaken consumer protections and increase costs for families under ‘Trumpcare.’ Working families deserve better. Congressional Republicans and President Trump must change their course and actually begin working on solutions to build an economy that benefits all of America’s working families.” — (NNPA)

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Weekly jobless claims fall less than expected

WASHINGTON, March 30 (Reuters) - - The number of Americans filing for unemployment benefits fell less than expected last week, suggesting some loss of momentum in a labor market that continues to tighten.

Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 258,000 for the week ended March 25, the Labor Department said on Thursday. The prior week's data was unrevised.

Claims have now been below 300,000, a threshold associated with a healthy labor market, for 108 straight weeks. That is the longest stretch since 1970, when the labor market was smaller.

The labor market is currently near full employment.

A Labor Department analyst said there were no special factors influencing last week's claims data. Claims for Louisiana and Hawaii were estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, increased 7,750 to 254,250 last week.

The labor market strength suggests that an apparent slowdown in economic growth at the start of year is probably temporary. The Atlanta Federal Reserve is forecasting gross domestic product rising at a 1.0 percent annualized rate in the first three months of 2017.

The economy grew at a 2.1 percent pace in the fourth quarter. Job growth has averaged 209,000 per month over the past three months and the unemployment rate is at 4.7 percent, close to the nine-year low of 4.6 percent hit last November.

Thursday's claims report also showed the number of people still receiving benefits after an initial week of aid increased 65,000 to 2.05 million in the week ended March 18. The four-week average of the so-called continuing claims fell 1,250 to 2.03 million, the lowest level since June 2000.

The continuing claims data covered the survey week for March's unemployment rate. The four-week average of claims fell 31,000 between the February and March survey periods, suggesting some improvement in the unemployment rate.

- The number of Americans filing for unemployment benefits fell less than expected last week, suggesting some loss of momentum in a labor market that continues to tighten.

Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 258,000 for the week ended March 25, the Labor Department said on Thursday. The prior week's data was unrevised.

Claims have now been below 300,000, a threshold associated with a healthy labor market, for 108 straight weeks. That is the longest stretch since 1970, when the labor market was smaller.

The labor market is currently near full employment.

A Labor Department analyst said there were no special factors influencing last week's claims data. Claims for Louisiana and Hawaii were estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, increased 7,750 to 254,250 last week.

The labor market strength suggests that an apparent slowdown in economic growth at the start of year is probably temporary. The Atlanta Federal Reserve is forecasting gross domestic product rising at a 1.0 percent annualized rate in the first three months of 2017.

The economy grew at a 2.1 percent pace in the fourth quarter. Job growth has averaged 209,000 per month over the past three months and the unemployment rate is at 4.7 percent, close to the nine-year low of 4.6 percent hit last November.

Thursday's claims report also showed the number of people still receiving benefits after an initial week of aid increased 65,000 to 2.05 million in the week ended March 18. The four-week average of the so-called continuing claims fell 1,250 to 2.03 million, the lowest level since June 2000.

The continuing claims data covered the survey week for March's unemployment rate. The four-week average of claims fell 31,000 between the February and March survey periods, suggesting some improvement in the unemployment rate.

(Reporting by Lucia Mutikani; Editing by Paul Simao)

US weekly jobless claims total 261,000 vs 240,000 estimate

The number of Americans filing for unemployment benefits unexpectedly rose last week, but remained below a level associated with a strengthening labor market.

Initial claims for state unemployment benefits increased 15,000 to a seasonally adjusted 261,000 for the week ended March 18, the Labor Department said on Thursday.

Claims for the prior week were revised to show 5,000 more applications received than previously reported. The government revised the claims data going back to 2012 and published new seasonal factors for 2017. The revisions showed no significant change in the state of labor market.

Claims have now been below 300,000, a threshold associated with a healthy labor market for 80 straight weeks. That is the longest stretch since 1970 when the labor market was smaller. The labor market is currently near full employment.

A Labor Department analyst said there were no special factors influencing last week's claims data and no states had been estimated.

The four-week moving average of claims, considered a better measure of labor market trends as it irons out week-to-week volatility, rose 3,500 to 246,500 last week.

The claims data covered the period during which the government surveyed employers for March's nonfarm payrolls report.

The four-week average of claims fell 1,000 between the February and March survey weeks, suggesting another month of strong job gains.

Job growth has averaged 209,000 per month over the past three months and the unemployment rate is at 4.7 percent, close to the nine-year low of 4.6 percent hit last November. Tightening labor market conditions and rising inflation enabled the Federal Reserve to raise interest rates last week.

Thursday's claims report also showed the number of people still receiving benefits after an initial week of aid fell 35,000 to 2.0 million in the week ended March 11.

The four-week average of the so-called continuing claims declined 15,500 to 2.0 million.

CORRECTION: The Labor Department corrected data in this story to show weekly jobless claims at 261,000 instead of 258,000. Other figures from the Labor Department report were also corrected.