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Entries in Job Market (5)

Friday
May062011

Young People Struggle to Find Jobs While Elders Hold on Longer

Photodisc/Thinkstock(NEW YORK) -- More than any time in the recent past, it's hard for many young people to find a job.

The reason: a generation gap in the jobs market.

People in their 50s and 60s are working longer, holding onto their jobs and putting off retirement.

"Older workers are replacing younger workers in the labor force," says economist Diane Swonk.  "We're also seeing them replace younger workers in traditional places like fast food establishments and retail where you often used to see only teenagers."

As a result, many young people are "staying in school longer -- they're going to school and trying stay in school to try to get more educated" and get more needed skills, Swonk says.

Copyright 2011 ABC News Radio

Wednesday
Apr062011

UCLA Studies Show Stigma of Joblessness Is Immediate

Jupiterimages/Thinkstock(LOS ANGELES) -- Economists have known for years that long-term unemployment can greatly reduce a person's chances of finding another job.  But researchers at the University of California, Los Angeles, have found that the stigma of being unemployed begins the minute the person walks out the door.

"We're finding that people actually judge the unemployed as not good people compared to the employed," Geoffrey Ho, a doctoral candidate in human resources who led three studies of the psychological burden borne by the unemployed, said in a telephone interview.

It's not new that potential employers tend to shy away from hiring someone who has been unemployed for a long time.  The longer a person is out of work, the less likely it is that he or she will ever find another job, according to many studies.  That's partly because of "skill decay," especially in high-tech fields where the game can change on a daily basis, but it's also because of nagging doubts over the abilities, competence and confidence of a person who is unable to find work for months or even years.

What's new, however, is the finding that a worker's stock begins to decline immediately.  It's not a huge drop, at least initially, but it's significant, according to the UCLA studies.

The first two studies drew from UCLA databases, and most of the participants were students, who presumably have little or no experience in hiring people.  But the third was from a national database maintained by Amazon and widely used by researchers.  It is believed to be representative of the nation as a whole.

Participants in all three studies were given resumes from job seekers which told much about their lives, such as education, work record, experiences, and other factors.  Some of the participants were told the applicant was still employed.  The rest were told that he or she had been unemployed for just a few days.  The only difference was whether the person was still employed.

The participants were asked to rate the applicant on competence, including whether the person seemed confident, capable, efficient, intelligent, and skillful.  They were also asked if the person is friendly, good natured, sincere, trustworthy, warm and well intentioned.

"We were surprised to find that, all things being equal, unemployed applicants were viewed as less competent, warm and hirable than employed individuals," Ho said.  "We were also surprised to see how little the terms of departure mattered.  Job candidates who said they voluntarily left a position faced the same stigma as job candidates who said they had been laid off or terminated."

Only when the job loss was in no way attributable to the individual, such as bankruptcy by the employer, did the disadvantage of being unemployed disappear, the researchers said. 

Copyright 2011 ABC News Radio

Tuesday
Apr052011

Report: 10 Fastest-Dying US Industries

Hemera Technologies/Thinkstock(LOS ANGELES) -- If you had to warn away some earnest youth from choosing a doomed career, which should it be?

A new report by the market research company IBISWorld names 10 U.S. industries, which, if not actually dead, are heading that way fast.  Some, such as manufactured housing, theoretically could get better and enjoy a healthy future.  Others, though, such as record stores, cannot.

"While the U.S. economy is headed further into recovery, not every industry is performing well," writes the report's author, Toon Van Beeck.

Every industry, he says, goes through its own lifecycle -- growth, maturity and decline.  IBIS combed its data base of some 700 industries and studied 200 that were in decline.  From those it identified 10 that it considers "standouts."

All the following, says Van Beeck, are "on the verge of extinction:"

1. Record retailers
2. Dealers in manufactured housing
3. Wired telecommunications carriers
4. Textile mills
5. Newspaper publishers
6. Apparel manufacturers
7. DVD, game and video rental stores
8. Providers of video postproduction services
9. The photofinishing industry
10. Renters of formal wear and costumes

Any company or industry, of course, can suffer a temporary setback.  But companies in the 10 industries fingered by IBISWorld suffer from illnesses more intractable and lasting.

All 10 industries are in long-term decline.  From 2000 to 2010, each experienced a sizeable contraction both of revenue and of its total number of establishments.  Looking forward, further deterioration in both is forecast for each industry between now and 2016.

Copyright 2011 ABC News Radio

Wednesday
Dec292010

Houston the Top US Manufacturing City, Detroit Falls in Rank

Photo Courtesy -- Getty Images(EVANSTON, Ill.) – Manufacturers' News Inc. has released a list of the top U.S. cities based on the number of manufacturing jobs in each city at the end of 2010.

Houston made the top of the list with 228,226 jobs in manufacturing. Other cities in Texas – Houston, Dallas, Fort Worth, San Antonio and Austin – also made the top 50.

Rounding out the top three were New York with 139,127 jobs and Chicago with 108,692.

The overall number of manufacturing jobs in the U.S., however, has declined 8.4 percent since 2008, according to MNI. One of the hardest-hit cities has been Detroit, which fell from 29th place in 2008 to 45th this year.

Copyright 2010 ABC News Radio

Tuesday
Dec072010

College Grads Suffer Worst Unemployment in Four Decades

Photo Courtesy -- Getty Images(WASHINGTON) – The percentage of jobless college graduates is at its worst level in four decades, as 2.4 million higher-educated are unemployed, according to the USA Today.

The percentage of Americans with at least a bachelor’s degree who are unemployed reached 5.1 percent, the highest figure since the Bureau of Labor Statistics started tracking the number in 1970.

Meanwhile, national unemployment rose to 9.8 percent from 9.6 percent last month. Those with advanced educations have a massive impact on the overall rate of unemployment as that group accounts for 30 percent of the labor force.

Unemployment levels for lower-educated individuals however, still remain much higher. Ten percent of high school graduates are unemployed and an even larger 15.7 percent without high schools diplomas are jobless.

Copyright 2010 ABC News Radio







ABC News Radio