Simply Hired Releases October 2010 Job Trends Report
Seasonal Hiring Offsets Slowing of National Job Growth Near Year-End
Mountain View, Calif. – November 2, 2010 – Simply Hired®, the leading search engine for jobs and recruitment advertising network, today released its October job trends report highlighting national and local market outlooks, and industry and employer trends.
National Job Growth Slowing Near Year-End
Nationwide job openings increased by 4.4 percent from September, a dip from the 7.7 percent increase seen between August and September. “Hiring decreases significantly in most industries just before the holidays," explained Gautam Godhwani, co-founder and chief executive officer, Simply Hired. “That decrease is being offset by increased seasonal hiring in retail and related industries, resulting in what appears to be limited overall job growth."
Seasonal Hiring Boosts Retail, Travel and Transportation
Seasonal hiring continued to boost not only retail (10.4 percent industry growth and 80.2 percent occupational growth), but related industries like travel (13.3 percent) and transportation (12.7 percent) as well. Both travel and transportation—which includes both passenger and cargo transportation—typically see increased business during November and December.
Job openings in the financial services industry increased 11.6 percent in October, while job openings for finance and accounting specialists increased 42.6 percent; the difference in growth indicates that there is demand for such professionals both in financial firms and, more significantly, in organizations outside the finance industry. This steady overall hiring is evidence that the financial industry is making substantial progress toward full recovery.
Strong Hiring for UPS and Healthcare Companies
Ranking twelfth in the Top Hiring Companies Nationwide list, the United Parcel Service (UPS) more than doubled hiring in October, going from 524 to 1,222 job openings. These job openings primarily include part-time positions for package handlers and drivers to accommodate the increased number of packages sent during the holiday season.
Hospitals, pharmaceutical, insurance and other healthcare companies continue to dominate the Top Hiring Companies by Metro list, appearing in 22 of 25 major metros. Moreover, a substantial number of these metros count as many as three healthcare-related companies in their top five employers.
Many Major Metros Looking Optimistic
A nationwide increase in job openings resulted in reduced job competition across most major metros. Despite maintaining its position as most competitive metro, Miami/Fort Lauderdale went from a 6:1 to 5:1 unemployment ratio. This temporary job market improvement can be attributed to seasonal hiring, as retail and transportation companies prepare for the holiday season.
Job competition improved in Milwaukee, Oklahoma City, Minneapolis/St. Paul, Denver and the San Francisco Bay Area. The unemployment ratio dropped to 1:1 unemployed persons to job openings in all five metros, joining Washington, DC, West Palm Beach, Boston and Baltimore as some of the least competitive metro areas.
About Simply Hired
With more than seven million job listings worldwide, Simply Hired (www.SimplyHired.com) is the world’s largest job search engine and recruitment advertising network. The company powers jobs on over 10,000 network partner sites, and operates global sites in 21 countries and ten languages on six continents. Simply Hired has raised $22.3 million in funding from venture and individual investors including Foundation Capital, IDG Ventures and News Corporation. The company is privately held and is based in Mountain View, California.