Thursday, October 31, 2013

Job Market Report 10 30 13 - FLAT ... FLAT ... Read below ...

For Immediate Release
For information: Dan Moran, 518-641-8968

Job Market Continues Flat – Market Concerns over Affordable Care Take Hold

Albany, NY,  October 30, 2013) –  As forecasters predicted, the uncertainty over the Affordable Health Care Plan (aka Obamacare) has put the job market in a huge stall – nationally, statewide and in our Capital Region. “We are seeing flat – very flat – job market activity in a period when forecasters all concurred should be much stronger, but it is not. Employers are reacting to the uncertainty of the health insurance market as it appears that overall insurance premiums will be higher and that affects employers costs directly. When in doubt , the employment market will stall –we are there now and not at the best of times for sure”, stated Dan Moran, of Next-Act (, a career transition management firm located in Colonie.

In the Capital Region, postings were flat with the week before. The past seven days postings averaged 1834 vs. 1831 the week prior – flat. Other markets in NYS posted similar results flat results this past week.  The Capital Region continues to still outpace Buffalo, Rochester and Syracuse, all larger markets with more employers and population.  

“In speaking to business leaders, I am hearing the same thing over and over again – they are not spending money and that mean hiring until the healthcare situation is straightened out and they know their real costs. A conversation yesterday was telling: “I am not spending one penny more than I have too now as I have no clue what effect Obama care will have on my business”.

National Job Scene

Nationally the market was flat as well and down significantly from a few weeks ago. Job postings the past seven days were 515,250 compared to 522,000  the weeks before and 547,000 two weeks ago. “The disturbing trend continues. The market has softened considerable from early October (10/1/13) when there were 624,500 jobs nationally – that is over a 17% drop in one month”.

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