Wednesday, August 24, 2011

Job Market Report, August 24, 2011

Flat and stagnant - but not terrible - read on ...

For Information: Dan Moran, 518-641-8968
August 24, 2011

Job Postings Flat after 10% Drop Week Before

(Albany, NY, August 24, 2011) – Job postings were flat the past seven days, after dropping 10% the week prior signaling continual softening in the Region’s employment market on a consistent basis.

“Heading into the summer months, this is not the picture we were expecting given the analyst forecasts a few months back. It is clear that things have, to a degree, shut down this late summer and this has affected hiring for sure, nationally and in our region which had experienced growth last year. The economic crisis we have witnessed the past few months has come home to roost in our Region”, stated Dan Moran, Founder & President of Next-Act (, a career transition management firm located in Colonie.

Moran stated that his discussions with other business owners echoed a familiar sentiment – hang where you are, don’t spend and invest until this sorts out and who knows when that will be. “I talked to a CEO of a technology company – the companies that should fuel economic growth and recovery and he told me what I am hearing from others – we are holding pat, not spending and cancelling hiring plans for the foreseeable future”.

Postings were in the 4450 range, no change from the week prior and this follows a 10% drop the week before. “This is hitting statewide as well”. Last year at this time, job postings were about 5500 consistently; this year they are 20% +/- less.

Job postings were the same in other NYS markets – flat after a drop the week before. Albany is the smallest market in size when compared to the other markets outside of NYC and continues to outpace with more job postings.

Should people in the market pull back and wait this out? “Absolutely not. While the market is not as good as it has been, we are still above 4000 job postings which is good. Anytime we are above 4000, the market is good – of course, the higher the better. There are some very good jobs out there – one just needs to continue to be aggressive and focused on finding the right job for themselves, and put the sometimes bad news behind them”.

Some good news
“While to job market news isn’t as strong as before right now, the good news is that the Region’s unemployment rate dropped very slightly last month for the first time in some time. This is the result of some continued private sector hiring and less public sector, government job cuts which for a time equaled each other keeping the unemployment rate steady”. Moran added that the Capital Region is unique with the significant percentage – about 13% -- of workers engaged in public sector employment at some level (state, federal, municipal and education). Cuts in public sector funding typically affect this market more than others.

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:
10% drop the week before

Dan Moran
President & Founder
Career Management & Transition Specialists
125 Wolf Road, Suite #128
Albany, NY 12205
Office: 518-261-4212
Cell: 518-641-8968
eFax: 586-279-4212

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