Job Market Report February 1, 2011

Better - at least holding and not dropping ...
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For Information: Dan Moran, 518-641-8968

Feb. 1, 2012

Job Postings Ever Slightly Past Seven Days – January 2012 Well Below January 2011 for Capital Region Jobs

(Albany, NY, February 1, 2012) – Job postings in the Region were up very slightly this past seven days, halting a declining trend over the past several weeks. Postings for the last seven day period came in at 1600, up from 1550 the week before. “The good news – the slide backwards has seemed to level off, however, the numbers are far below last year at this time indicating a significant softening in the region’s job market just when we do not need this”, stated Dan Moran, Founder & President of Next-Act (www.next-act.com), a career transition management firm located in Colonie.

Last year at this time, job postings were at 4750, well above this week’s totals. “There is something happening with employers – and we will work to uncover this in the next few weeks. There appears to a widening lack of confidence in the employer market and that will cause companies to perhaps hold off on hiring or only fill critical positions required to continue business”.

Results were similar in other New York State markets with postings flat or slightly declining in all NYS markets this past week. The Capital Region is a much smaller market as well in terms of population and number of employers.

January 2012 Well below January 2011 & 2010

“In the years I have been tracking job market activity, I have never seen a worst month like this past January. Postings are down 60% from last year at this time and 30% down from 2010 indicating a severe softening as we head into the new year. I thought this was the holiday hangover; it is more than that and very concerning”, continued Moran.

“It isn’t just our region, the trend appears to hold for the State of New York and the nation. Is it the election? The markets? – at this point, who knows, but very concerning”.