This week's job report - quite a drop - read why!

For Immediate Release
For Information, Dan Moran 518-641-8968

Albany, NY, February 2, 2011

Job Postings Drop 12% in One Week – State Layoff Woes Loom

(Albany, NY, February 2, 2011) – On the heels of the Governor’s announcements of potential state layoffs of 9,000 people, budget cuts affecting education and the healthcare sectors and consolidation of agencies, Capital Region employers reacted as they have in past years when these announcements were made – they paused in posting new jobs and therefore, hiring. “This has been a consistent trend over the past few years when the State employment picture is the source of debate. With close to 24% of the area’s workforce employed in the public sector in some fashion, this is big news and impacts all market segments – including the private sector, education, services, retail, hospitality and more. Employers become concerned over the loss of State business or the impact layoffs will have on the area, and they hold back. We saw this past week, with a 12% drop in one week after weeks of growth – this is concerning, stated Dan Moran, Founder & President of Next-Act (www.next-act.com), a career transition management firm located in Colonie. Moran assists individuals in identifying new careers and also those in the midst of a job search and needing direction. His firm also tracks the job market on a regional and statewide basis.

“Other markets in New York State, with the exception of metro NYC which saw a large decrease as well and is the home to thousands of state workers, actually grew in job postings the past week quite significantly – 10% in some cases , so the impact is significant in the Capital Region. The sooner an overall plan can be hatched in State government, the better. Uncertainty is not what we need now as we climb out of the recession”.

While a smaller market, the Capital Region still outpaces other NYS markets (with the exception of metro NYC). This has been consistent for well over three years.

What a difference a year makes – job market up 47%
While this week’s report is a bit sobering, a year over year review shows that the Capital region’s job market – as measured in jobs postings – was up 47% over January 2010, which is a significant increase and shows that 2011 is probably still shaping up to be a strong year – much stronger than last year when the Region began a slow climb out of an anemic job market at the close of 2009. “ The economist are singing in unison – 2011 will be better than 2010, but don’t expect a sudden explosive growth spurt – it will be consistent and slower through the year”, stated Moran.

#Background#

Job postings in the Region are normally in the baseline of 4000 – 4900 on a weekly basis and 7-day rolling average, consistent for this area. Monitoring job postings is a leading indicator of hiring within the following 30-45 days. This methodology is utilized by reading research houses nationally and is employed in the Region by Moran’s firm. For the purpose of reporting, the Region is defined as a 50 mile radius of Albany.

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About Next-Act

Next-Act, a division of DVG, Inc. is a career management & transition firm directed by Dan Moran, the Founder & President of the firm. Moran contributes over thirty years experience in career consulting, business and human resources management. Moran is noted for his expertise in helping today’s “boomers” move on to fulfilling second careers, while helping executives and professionals achieve their career goals. The firm also provides human resources consulting and corporate services to companies. Moran is also a certified facilitator for C.J. Hayden’s Get Clients Now! & Get Hired Now! programs.

For further press information: http://www.next-act.com/press_room.



Dan Moran
President & Founder
Next-Act
Career Management & Transition Specialists
125 Wolf Road, Suite #128
Albany, NY 12205
Office: 518-261-4212
Cell: 518-641-8968
eFax: 586-279-4212
dmoran@next-act.com