The Global Talent Market Quarterly provides a summary of the current economic and labor market conditions around the world and gives insight into how they might impact you.

1. Global Talent Market Quarterly
FOURTH QUARTER l 2011

2. Global Talent Market Quarterly
CONTENTS
CONTENTS
33
Global
Economic
Situa>on
Global Economic Situation
• Briefing
6
Global
Labor
Market
Update
• Outlook
•
Americas
6 Global MEA
Market Update
•
E Labor
•
APAC
• Americas
• EMEA
11
U.S.
Labor
Market
Overview
• APAC
•
Current
Employment
Condi8ons
• Legislative Update
•
Supply
and
Demand
11
•
Labor
Market
Spotlight
U.S. Labor Market Overview
• Current Employment Conditions
15
Workforce
Solu>ons
Industry
Insight
• Supply and Demand
•
Global
RPO
Report
• Labor Market Spotlight
•
Con8ngent
Labor
Management
Trends
15 Workforce Webcast
Series
Insight
•
Kelly
Solutions Industry
• Global RPO Report
• Contingent Labor Management Trends
• Kelly Webcast Series

3. Global Economic Situation
FOURTH QUARTER l 2011

4. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
GLOBAL
ECONOMIC
BRIEFING
The
global
economy
looks
to
be
on
a
moderate
growth
path
in
the
last
part
of
2011.
Future
growth
expecta>ons
are
dependent
upon
an
increase
in
consumer
and
business
confidence,
and
an
easing
in
fiscal
and
poli>cal
discord
in
key
markets
including
the
US
and
Eurozone.
AMERICAS
EMEA
APAC
Economic
growth
is
expected
to
be
sluggish
Growth
will
be
muted
across
EMEA
as
The
region’s
economies
have
rebounded
from
but
posi>ve
in
the
U.S.
through
2012,
fueling
uncertainty
over
fiscal
policies,
social
natural
disasters
in
early
2011.
Weakening
moderate
economic
ac>vity
in
the
region.
tensions,
and
structural
issues
con>nues.
export
demand
is
a
moun>ng
concern.
Canada
Eurozone
Japan
AGer
a
mid-­‐year
lull,
the
Canadian
economy
is
Despite
an
agreement
on
the
debt
crisis,
Post-­‐earthquake
reconstruc8on
con8nues
to
seeing
posi8ve
momentum
in
the
second
half
economic
uncertainty
persists.
In
addi8on,
drive
growth
in
the
second
half
of
2011,
but
as
of
2011,
boosted
by
strength
in
manufacturing.
weak
consumer
spending
and
8ghter
fiscal
public
spending
tapers
off
in
2012,
private
Slower
growth
is
forecast
for
2012.
policies
across
the
region
are
contribu8ng
to
consump8on
is
expected
to
sustain
the
sub-­‐1%
growth
forecasts
and
the
risk
of
economy’s
momentum.
U.S.
recession
into
2012.
The
economy
has
struggled
to
maintain
its
China
upward
trajectory,
but
forecasts
indicate
U.K.
Slowing
but
s8ll
robust
growth
in
the
range
of
modest
growth
in
the
second
half
of
2011.
The
economy
will
con8nue
to
struggle
in
late
8-­‐9%
is
expected
to
con8nue
in
2012.
Poten8al
Poli8cal
disagreements
and
global
uncertainty
2011
due
to
high
infla8on,
ongoing
austerity
weakness
in
export
demand
from
advanced
con8nue
to
undermine
the
na8on’s
growth
measures,
and
regional
slowdown
concerns.
markets
poses
the
biggest
risk
to
China’s
prospects.
Modest
growth
is
expected
in
2012.
economic
health.
La>n
America
Central
and
Eastern
Europe
India
Decelera8ng
demand
for
exports
will
keep
Economic
ac8vity
is
slowing
in
response
to
Despite
rising
infla8on
and
a
slowdown
in
the
economic
growth
in
check
in
2012.
Despite
the
weaker
global
and
Eurozone
demand,
but
industrial
sector,
service
sector
resilience
will
slowdown,
regional
growth
will
remain
in
a
growth
rates
will
remain
among
the
strongest
keep
growth
rates
near
8%
in
2012.
healthy
3-­‐4%
range
in
the
short
term.
in
the
EMEA
region
in
2012.
Australia
Middle
East
and
North
Africa
Modest
economic
ac8vity
is
expected
for
the
Con8nued
poli8cal
and
social
turmoil
is
balance
of
2011.
The
booming
natural
dampening
growth
in
some
markets,
but
oil
resources
and
mining
sector
will
drive
higher
expor8ng
countries
will
con8nue
to
see
strong
growth
in
2012.
economic
ac8vity
in
2012.
May
Top
9%
as
Slump
Poses
Risk,
Bloomberg,
10.16.11;
Central
Europe
Seeing
Decelera8ng
Growth,
Wall
Street
Journal
Europe,
08.17.11;
Sources:
IHS
Global
Insight
–Country
Intelligence
Reports
(Ocotber
2011);
China
Growth
4
Eastern
European
Outlook:
Growth
will
slow
-­‐
but
not
as
sharply
as
in
the
West,
SEB,October
2011;
Recovering
Canadian
economy
grows
in
July,
Reuters,
9.30.11;
U.S.
2Q
GDP
Growth
Edges
Up
to
1.3%,
Reuters,
9.30.11;
Weak
and
bumpy
global
recovery
ahead,
SIA
Daily
News
09.21.1;
Consumers,
businesses
pump
up
US
Q3
growth,
Reuters,
10.27.11

5. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
ECONOMIC
OUTLOOK
Economic
performance
remains
very
uneven,
with
strong
growth
in
emerging
markets
and
weakness
in
the
advanced
economies,
par>cularly
the
U.S.
and
Europe.
A
slight
accelera>on
is
expected
in
H2
2011
and
in
2012
but
ongoing
downside
risks
make
the
growth
outlook
uncertain.
Real
GDP
Growth
Rates
(%
Change)
Real
GDP
Growth
Rates
(%
Change)
Select
Markets
2011
(proj.)
2012
(proj.)
Country/
Region
2010
(est.)
2011
(proj.)
2012
(proj.)
AMERICAS
Japan
Brazil
7.5%
3.6%
3.9%
U.K.
Canada
3.2%
2.2%
1.9%
U.S.
3.0%
1.7%
1.4%
France
EMEA
France
1.4%
1.6%
0.4%
U.S.
Germany
3.6%
3.0%
1.0%
Italy
1.2%
0.6%
-­‐0.2%
Germany
Russia
4.0%
4.1%
3.9%
U.K.
1.8%
0.9%
1.0%
WORLD
Eurozone
1.7%
1.6%
0.3%
Brazil
APAC
Australia
2.7%
1.7%
3.2%
Russia
China
10.3%
9.3%
8.1%
India
8.8%
7.5%
7.7%
India
Japan
4.0%
-­‐0.6%
2.7%
APAC
7.0%
4.7%
6.0%
China
WORLD
4.2%
3.1%
3.5%
-­‐1%
1%
3%
5%
7%
9%
11%
Source:
IHS
Global
Insight
–Country
Intelligence
Reports
(October
2011)
5

6. Global Labor Market Update
FOURTH QUARTER l 2011

7. Global Talent Market Quarterly
BACK TO
Average
Annual
Unemployment
Rate
TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
UPDATE:
AMERICAS
10%
employment
gains
remain
moderate
as
global
economic
uncertainty
U.S.
2008
5%
con>nues
to
impact
employer
confidence;
other
regional
labor
markets
2010
such
as
Brazil
and
Canada
show
more
resiliency.
0%
U.S.
Brazil
Canada
Mexico
2012
UNITED
STATES
BRAZIL
CANADA
MEXICO
Hiring
con8nues
on
a
subdued
Brazil
con8nues
to
see
record
Canadian
job
crea8on
exceeded
Mexico’s
unemployment
rate
pace
into
the
last
half
of
2011,
as
low
unemployment
rates
(at
6%
expecta8ons
in
September
as
the
rose
in
August,
and
remains
private
company
job
crea8on
for
three
straight
months)
and
unemployment
rate
fell
to
a
higher
than
before
the
economic
makes
up
for
public
sector
losses.
steady
job
crea8on.
The
8ght
three-­‐year
low.
Much
of
the
crisis
despite
increases
in
formal
While
the
latest
labor
market
labor
market
is
also
driving
salary
employment
growth
during
the
private
sector
job
crea8on.
The
news
is
posi8ve,
hiring
is
likely
to
increases.
Average
earnings
for
month
came
in
the
public
sector,
underemployment
rate,
or
remain
muted
un8l
the
global
Brazilian
workers
were
up
0.5%
par8cularly
in
educa8on;
rising
people
who
reported
having
economic
picture
becomes
less
month-­‐over-­‐month
and
3.2%
self-­‐employment
also
accounted
work
but
wan8ng
more,
also
uncertain.
year-­‐over-­‐year
in
August.
for
a
significant
por8on
of
the
jumped
in
August.
Despite
persistently
high
While
the
labor
market
remains
country’s
job
increases.
A
bright
spot
in
the
Mexican
unemployment,
U.S.
firms
s8ll
strong,
increasing
foreign
The
oil
and
gas
industry
is
economy
has
been
the
report
difficul8es
in
alrac8ng
compe88on
has
caused
a
lull
in
expected
to
lead
the
na8on
in
automo8ve
sector.
In
the
first
and
retaining
top
talent.
Some
the
country’s
industrial
sector.
job
growth
over
the
next
20
nine
months
of
2011,
auto
employers
are
partnering
with
The
Brazilian
government
has
years.
Direct
and
indirect
produc8on
was
up
15%
over
the
universi8es
or
the
military
to
find
launched
a
program
called
"A
employment
as
a
result
of
new
prior
year,
and
output
remains
qualified
candidates,
while
Bigger
Brazil"
that
is
intended
to
oil
sands
investments
is
expected
on
a
record
pace
for
the
full
year.
others
are
focusing
more
effort
protect
and
promote
its
to
grow
from
75,000
jobs
in
2010
on
social
media
and
technology-­‐ domes8c
industry.
to
over
900,000
jobs
in
2035.
based
recrui8ng
tools.
“Canada’s
oil
sands
con8nue
to
create
significant
long-­‐term,
well-­‐paid,
skilled
jobs.
One
of
our
industry’s
most
pressing
issues
is
in
fact
a
lack
of
skilled
people
to
fill
the
jobs
we
have
today
and
foresee
in
the
future.”
—
Dave
Collyer,
President,
Canadian
Associa4on
of
Petroleum
Producers
Sources:
IHS
Global
Insight
–Country
Intelligence
Reports
(October
2011);
Mexico's
August
Unemployment
5.8%
Vs
5.4%
Year
Ago,
Wall
Street
Journal,
09.23.11;
Brazil's
Aug
Unemployment
Rate
6%,
Flat
Vs
Jul,
AE
Brazil
Newswire,
09.22.11;
Lag
in
Industrial
Sector
Slows
Brazil’s
Job
Growth,
BusinessWeek,
10.18.11;
Mexican
auto
output
up
14%
from
September
2010,
MarketWatch,
10.12.11;
Canada
Talent
Market
Snapshot,
Marke8ng
Informa8on,
10.11;
Oil
7
sands
a
Canadian
job
creator,
CAPP,
09.22.11;
Feeling
the
pinch,
Calgary
Herald,
10.15.11;
US
Talent
Market
Monthly,
October
2011;
Problems
-­‐-­‐
and
Solu8ons:
We
asked
HR
execu8ves:
What's
your
biggest
challenge?
Wall
Street
Journal,
10.24.11

8. Global Talent Market Quarterly
BACK TO
Average
Annual
Unemployment
Rate
TABLE OF CONTENTS
GLOBAL
LABOR
MARKET
UPDATE:
EMEA
10%
2008
The
debt
crisis
and
other
factors
are
puing
a
damper
on
economic
and
labor
5%
2010
market
growth
across
much
of
the
EMEA
region.
Austerity
plans
are
limi>ng
2012
public
sector
employment,
and
firms
remain
hesitant
to
take
on
addi>onal
0%
workers. Germany
France
U.K.
Russia
Italy
GERMANY
FRANCE
UNITED
KINGDOM
RUSSIA
The
German
labor
market
The
labor
market
remains
fragile,
The
UK
labor
market
shows
The
unemployment
rate
con8nues
con8nues
to
show
robust
as
economic
uncertainty
is
con8nuing
weakness,
as
austerity
to
recover
quickly,
falling
to
6.1%
performance
despite
indica8ons
keeping
hiring
levels
soG.
measures
are
causing
large
job
in
August
compared
to
an
average
of
a
global
economic
slowdown.
Unemployment
hit
9.1%
in
the
losses
in
the
public
sector,
while
rate
of
7.5%
in
Q1
2011.
The
Unemployment
fell
to
a
record
second
quarter
and
is
forecast
to
concerns
over
the
European
debt
Russian
government
expects
the
low
again
in
September
2011,
rise
again,
signifying
the
crisis
and
slowing
global
growth
unemployment
rate
to
drop
below
while
job
vacancies
con8nue
to
government’s
target
rate
of
9%
have
kept
private
company
hiring
6%
through
2014.
increase.
The
outlook
calls
for
unemployment
by
the
end
of
in
check.
Russian
workers’
mobility
has
con8nued
stable
employment
2011
will
not
be
met.
increased
following
the
recession,
Young
people
have
been
among
growth
into
2012.
as
more
employees
relocate
to
According
to
France's
quarterly
the
most
severely
affected
by
the
Wage
growth
has
also
been
brisk
business
survey,
demand
for
slowdown
in
the
UK
labor
pursue
beler
jobs,
higher
pay,
and
in
Germany,
as
companies
are
manufactured
goods
weakened
market.
Unemployment
in
the
improved
living
condi8ons.
issuing
raises
and
higher
bonus
sharply
during
the
third
quarter.
age
16-­‐24
group
is
approaching
1
payments,
and
further
reducing
Demand
is
also
expected
to
million,
or
more
than
21%,
and
ITALY
the
number
of
people
in
short-­‐ contract
in
the
fourth
quarter
of
concern
is
growing
that
many
Italy’s
unemployment
rate
is
stable
8me
work.
The
highest
wage
the
year,
giving
rise
to
new
youths
will
be
out
of
work
for
an
at
around
8%.To
help
boost
growth
in
Q2
2011
came
from
worries
about
the
short-­‐term
extended
period
given
the
employment,
the
government
the
manufacturing
industry,
strength
of
the
French
economy
persistently
weak
economy.
pledged
to
ease
hiring
and
firing
where
wages
improved
by
7.0%.
and
labor
market.
rules
as
part
of
an
austerity
plan
announced
in
August
2011.
.
"Youth
unemployment
is
like
a
dripping
tap,
cos8ng
tens
of
millions
of
pounds
a
week
through
benefits
and
lost
produc8vity.
And,
just
like
a
dripping
tap,
if
we
don't
do
something
to
fix
it,
it's
likely
to
get
much
worse.“
—
Paul
Brown,
director
of
communica4ons
at
UK
youth
charity
The
Prince's
Trust
Sources:
IHS
Global
Insight
–Country
Intelligence
Reports
(October
2011);
Unemployment
rate
in
Russia
might
drop
to
5.8%
by
2014,
Russia
&
CIS
Business
and
Financial
Newswire,
09.22.11;
White
collar
workers
becoming
more
mobile,
Moscow
News,
10.19.11;
Italy’s
Jobless
Rate
Unchanged
at
8
Percent
as
Economy
Grows,
Bloomberg,
08.31.11;
U.K.
Unemployment
Hits
16-­‐Year
High,
Wall
Street
Journal
Europe,
10.13.11;
Youth
unemployment:
The
angry
millions,
The
Independent,
10.11.11;
France
-­‐
Differing
job
crea8on
forecasts
for
2012,
SIA
Daily
News,
10.07.11;
German
unemployment
falls
to
record
low
in
September,
Agence
France
Presse,
09.29.11;
Real
wages
in
Germany
grow
8
1.9%
Y/Y
in
Q2,
Frankfurter
Allgemeine
Zeitung,
09.22.11;
French
job
picture
dims,
Wall
Street
Journal,
10.26.11

9. Global Talent Market Quarterly
BACK TO
GLOBAL
LABOR
MARKET
UPDATE:
APAC
Average
Annual
Unemployment
Rate
TABLE OF CONTENTS
10%
2008
A
slowdown
in
global
demand
has
caused
some
modera>on
in
the
strong
5%
2010
growth
of
APAC
labor
markets,
but
the
region’s
economies
s>ll
show
healthy
2012
job
crea>on
and
an
increasing
trend
towards
recrui>ng
foreign
talent
to
address
skilled
labor
shortages.
0%
Japan
China
India
Australia
CHINA
JAPAN
INDIA
AUSTRALIA
The
Chinese
economy
generated
Japan’s
unemployment
rate
fell
Hiring
ac8vity
is
expected
to
The
labor
market
has
cooled
9.9
million
jobs
in
the
first
nine
to
4.1%,
hiyng
its
lowest
level
in
moderate
through
the
end
of
somewhat
in
2011
in
the
wake
of
months
of
2011,
exceeding
the
nearly
three
years,
and
job
2011,
as
global
economic
soGer
global
and
regional
government’s
target
of
crea8ng
9
availability
improved
slightly
in
uncertainty
is
causing
a
slight
demand,
but
employment
trends
million
jobs
for
the
year.
The
September
2011.
The
improved
slowdown
in
the
country’s
job
are
stable
and
op8mis8c
headed
Chinese
government
will
figures
from
September
are
market.
into
2012.
con8nue
its
efforts
to
boost
par8cularly
encouraging,
as
they
A
growing
number
of
foreign
Skills
shortages
are
growing
employment
by
introducing
are
the
first
to
include
data
from
workers,
primarily
professionals
throughout
the
Australian
favorable
tax
policies
and
the
regions
hardest
hit
by
the
from
the
US
and
Europe,
are
s8ll
economy.
In
a
survey
of
300
providing
financial
support.
natural
disaster
in
the
spring.
looking
to
India
for
jobs.
Hiring
of
Australian
businesses,
61%
of
China’s
largest-­‐ever
college
Japanese
companies
are
looking
expatriates
has
increased
an
respondents
reported
skills
gradua8ng
class,
6.6
million,
hit
to
alleviate
a
cri8cal
long-­‐term
es8mated
15-­‐20%
in
2011.
There
shortages
in
2011,
up
from
51%
the
labor
market
in
the
summer
challenge–a
shrinking
workforce
are
currently
as
many
as
40,000
the
previous
year.
Many
firms
of
2011.
Concerns
remain
about
–by
hiring
and
promo8ng
more
expat
professionals
working
in
say
they
prefer
to
train
the
country’s
ability
to
create
women.
Japanese
women
are
various
industries
in
India,
Australian
employees
in
order
to
enough
high-­‐quality
posi8ons
to
also
increasingly
interested
in
job
par8cularly
in
the
banking
and
meet
future
skill
needs,
but
some
accommodate
the
growing
opportuni8es
to
help
ease
family
financial
services,
automobile,
are
sponsoring
foreign
workers
in
number
of
educated
workers.
economic
concerns.
pharmaceu8cal,
energy
and
order
to
fill
the
gaps.
retail
sectors.
"There
will
be
a
heavy
reliance
on
bringing
people
in
from
overseas.
Even
with
the
training
of
Australians,
we
have
expecta8ons
that
[impor8ng
foreign
workers]
will
con8nue
to
grow."
—
Karen
Waller,
Head
of
Migra4on,
KPMG
Australia
Sources:
IHS
Global
Insight
–Country
Intelligence
Reports
(October
2011);
Labour
shortages
grow
by
10%,
re8rement
of
baby
boomers
a
challenge
for
SMEs,
SmartCompany.au,
10.10.11;
India
Inc's
hiring
outlook
for
Oct-­‐Dec
quarter
takes
a
bea8ng,
India
Times,
10.14.11;
Booming
economy:
India
Inc
expats’
hiring
up
20%
this
year,
India
Times,
10.10.11;
Japan
Jobless
Rate
Falls
to
4.3
Pct
in
Aug,
Jiji
Press,
09.29.11;
Firms
Turning
to
Women
for
Growth,
Nikkei
Report,
08.27.11;
China
exceeds
employment
target,
Economic
Times,
10.25.11;
Amid
China
boom,
job
search
for
many
grads
goes
bust,
Reuters,
09.13.11;
Japan's
jobless
rate
drops
to
lowest
in
three
years,
DPA,
10.28.11
9

10. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
LEGISLATIVE
UPDATE
desire
to
boost
domes>c
worker
par>cipa>on
is
driving
employment
legisla>on
in
Singapore
and
Saudi
Arabia,
while
easing
A
restric>ons
for
employers
is
the
impetus
for
changes
to
the
labor
code
in
Hungary
and
Spain.
In
the
US,
the
“hot
bumon”
issue
of
classifica>on
of
independent
contractors
illustrates
the
dichotomy
between
the
desire
for
flexibility
and
the
need
for
regula>on.
RUSSIA
FRANCE
Government
is
considering
Employers
with
50
or
more
plans
to
eliminate
labor
employees
must
have
a
gender
books,
the
mandatory
equality
ac8on
plan
or
method
of
employment
UNITED
STATES
documenta8on
and
benefit
CHINA
collec8ve
agreement
in
place
The
IRS
has
launched
a
limited
verifica8on
for
all
workers.
As
of
October
2011,
by
January
1,
2012.
amnesty
program
that
will
enable
foreign
employees
who
employers
to
resolve
past
worker
work
in
China
must
classifica8on
issues.
In
addi8on,
HUNGARY
enroll
in
the
social
INDIA
proposed
legisla8on
would
create
Reduced
unemployment
benefits
and
insurance
system.
Approved
a
na8onal
manufacturing
stricter
record-­‐keeping
introduced
employer-­‐friendly
amendments
policy
that
aims
to
increase
requirements
for
companies
that
to
the
labor
code,
including
looser
produc8on
capabili8es,
improve
hire
independent
contractors.
provisions
for
over8me
work
and
manufacturing
infrastructure,
and
compensa8on,
and
more
restric8ons
on
create
100
million
addi8onal
jobs.
vaca8on
8me
and
childcare
leave.
SINGAPORE
Tightening
eligibility
SPAIN
requirements
for
THAILAND
The
government
is
temporarily
liGing
the
Reviewing
plans
to
ins8tute
a
expatriates
seeking
restric8ons
requiring
employers
to
offer
na8onal
minimum
wage.
Currently
professional
employment
ARGENTINA
visas
as
of
January
2012.
permanent
posi8ons
to
workers
with
there
are
more
than
30
minimum
Effec8ve
September
two
or
more
fixed-­‐term
contracts.
wages
that
vary
by
city.
2011,
the
minimum
wage
increased
by
25%.
SAUDI
ARABIA
By
the
end
of
November
2011,
employers
must
comply
with
laws
that
mandate
quotas
of
Saudi
workers
or
face
puni8ve
measures.
Sources:
Aon
Hewil
Global
Legisla8ve
Developments
(July-­‐September
2011);
Washington
DC
Employment
Law
Update,
Liller
Mendelson,
09.23.11
and
10.17.11;
India
Cabinet
Approves
Na8onal
Manufacturing
Policy,
Wall
Street
Journal
Online,
10.25.11
10

11. U.S. Labor Market Overview
FOURTH QUARTER l 2011

12. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
U.S.
EMPLOYMENT
CONDITIONS
PAYROLLS
RISE,
BUT
UNEMPLOYMENT
U.S.
MONTHLY
EMPLOYMENT
CHANGE
AND
UNEMPLOYMENT
RATE
REMAINS
STUBBORNLY
HIGH
600
11.0
Unemployment
Rate
(%)
Employment
(000’s)
U.S.
employers
hired
103,000
new
300
10.0
workers
in
September,
slightly
ahead
of
9.0
analysts’
modest
growth
expecta8ons.
0
Hiring
totals
for
July
and
August
were
8.0
-­‐300
revised
up
by
a
combined
99,000
jobs,
7.0
another
encouraging
sign
that
is
helping
-­‐600
6.0
ease
concerns
about
the
threat
of
a
-­‐900
5.0
Jul-­‐08
Jan-­‐09
Jul-­‐09
Jan-­‐10
Jul-­‐10
Jan-­‐11
Jul-­‐11
Oct-­‐08
Oct-­‐09
Oct-­‐10
Apr-­‐09
Apr-­‐10
Apr-­‐11
double-­‐dip
recession.
Private
employers
again
accounted
for
all
of
September’s
job
growth,
as
Non-­‐Farm
Employment
Private-­‐Sector
Employment
Unemployment
Rate
government
payrolls
con8nue
to
shrink
in
response
to
rising
budget
deficits.
Government
payrolls
fell
34,000
over
the
month
and
have
shed
nearly
300,000
EMPLOYMENT
OVERVIEW
jobs
since
last
September.
SEPT
AUG
JULY
JUNE
MAY
The
na8on’s
jobless
rate
held
at
9.1%
for
a
third
consecu8ve
month
in
September,
Total
non-­‐farm
employment
growth
103K
57K
127K
20K
53K
however,
and
will
not
see
any
significant
improvement
un8l
the
economy
can
Private
employment
growth
137K
42K
173K
75K
99K
consistently
create
a
minimum
of
150,000
jobs
a
month.
Unemployment
rate
9.1%
9.1%
9.1%
9.2%
9.1%
EMPLOYERS
REMAIN
HESITANT
TO
HIRE
The
current
‘jobless
recovery”
has
now
dragged
on
for
more
than
two
years,
with
employment
growth
averaging
just
95,000
jobs
per
month
since
the
start
of
2010.
Job
crea8on
in
2011
has
finally
eclipsed
the
1
million
mark,
surpassing
the
modest
hiring
totals
achieved
last
year,
and
the
U.S.
is
on
track
to
add
1.4
million
workers
by
the
end
of
the
year.
At
this
pace,
total
U.S.
employment
will
finish
the
year
more
than
6
million
jobs
below
the
pre-­‐recessionary
peak.
12

13. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
U.S.
LABOR
MARKET
-­‐
SUPPLY
AND
DEMAND
THE
U.S.
SUPPLY/DEMAND
GAP
WIDENS
There
were
more
than
3.5
unemployed
workers
for
every
online
adver8sed
vacancy
in
the
U.S.
in
October,
as
the
number
of
U.S.
MARKET
-­‐
MONTHLY
LABOR
DEMAND
VS.
LABOR
SUPPLY
online
job
ads
con8nues
to
decrease
and
unemployment
remains
high.
Na8onally,
there
are
nearly
10
million
more
unemployed
16
workers
than
adver8sed
job
vacancies.
Millions
14
DEMAND
LEVELS
VARY
BY
REGION
–
LARGEST
GAP
IN
THE
WEST
12
An
up8ck
in
demand
for
jobs
in
the
Northeast
and
South
regions
was
offset
by
larger
declines
in
vacancies
in
the
Midwest
and
10
West.
In
the
West,
there
are
more
than
4
unemployed
workers
for
each
vacancy
adver8sed.
8
6
HEALTHCARE,
SCI/TECH
WORKERS
STILL
IN
HIGH
DEMAND
The
number
of
adver8sed
vacancies
for
healthcare
prac88oners
4
and
computer
and
math
occupa8ons
con8nues
to
outnumber
job
2
seekers
by
more
than
two
to
one.
The
life,
physical
and
social
sciences
category
also
shows
job
demand
outstripping
supply.
0
Dec
07
Mar
08
Jun
08
Jun
09
Jun
11
Dec
08
Mar
09
Dec
09
Mar
11
Sep
07
Sep
08
Sep
09
Sep
11
Sep
10
Mar
10
Jun
10
Dec
10
CONSTRUCTION
WORKERS
CONTINUE
TO
SUFFER
An
es8mated
1.4
million
construc8on
workers
remain
out
of
work
as
of
September.
While
job
pos8ng
volumes
have
risen
nearly
50%
in
the
past
year,
there
remains
nearly
19
unemployed
#
of
online
ads
#
of
unemployed
workers
construc8on
workers
for
every
online
adver8sed
vacancy.
“We
have
no
clear
sign
that
demand
is
picking
up.
The
drop
of
513,000
in
demand
over
the
last
seven
months
has
largely
offset
the
gain
of
763,000
in
early
2011.”
—
June
Shelp,
Vice
President,
The
Conference
Board,
October
2011
Source:
The
Conference
Board
Help
Wanted
OnLine®
(HWOL),
10.31.11.
13

14. Global Talent Market Quarterly
BACK TO
TABLE OF CONTENTS
LABOR
MARKET
SPOTLIGHT
U.S.
MANUFACTURING
INDUSTRY
FACES
A
SKILLS
GAP
IN
WHICH
WORKFORCE
SEGMENTS
DO
YOU
ANTICIPATE
THE
GREATEST
HIRING
CHALLENGES
DURING
THE
NEXT
3-­‐5
YEARS?
According
to
a
new
report,
two-­‐thirds
of
U.S.
manufacturers
are
facing
a
moderate
to
severe
shortage
of
available,
qualified
Skilled
Produc8on
80%
workers,
and
56%
expect
the
shortage
to
grow
worse
in
the
next
three
to
five
years.
Produc8on
Support
48%
The
survey,
conducted
by
The
Manufacturing
Ins8tute
and
Scien8sts
and
Design
Engineers
29%
Deloile,
indicates
that
as
many
as
600,000
manufacturing
jobs
are
going
unfilled
in
the
U.S.,
despite
a
na8onwide
Sales
and
Marke8ng
21%
unemployment
rate
that
hovers
above
9%.
Management
and
20%
Administra8on
GREATEST
DEMAND
FOR
SKILLED
PRODUCTION
WORKERS
Shortages
in
skilled
produc8on
roles
–
machinists,
operators,
Unskilled
Produc8on
17%
craG
workers,
distributors,
technicians,
and
more
–
are
having
a
significant
impact
on
manufacturers’
current
ability
to
expand
Customer
Service
7%
opera8ons,
drive
innova8on,
and
improve
produc8vity.
And
80%
of
respondents
indicate
that
skilled
produc8on
jobs
will
be
the
hardest
group
to
fill
in
the
job
market
in
the
next
3
to
5
years
WHICH
OF
THE
FOLLOWING
WILL
BE
MOST
IMPORTANT
TO
YOUR
COMPANY’S
FUTURE
BUSINESS
SUCCESS
DURING
THE
NEXT
3-­‐5
YEARS?
SKILLED,
FLEXIBLE
WORKFORCE
IS
KEY
TO
FUTURE
SUCCESS
Respondents
indicate
that
access
to
a
highly
skilled,
flexible
High
skilled,
flexible
workforce
68%
workforce
is
the
most
important
factor
in
their
effec8veness
over
the
next
3
to
5
years,
ranked
above
factors
such
as
new
product
New
product
innova8on
48%
innova8on
and
increased
market
share.
While
most
manufacturers
have
some
tools
in
place
to
address
Increased
market
share
38%
these
challenges,
some
are
depending
on
outdated,
informal
methods
to
address
the
rapidly
changing
talent
gap.
Leading
Low
cost
producer
status
29%
companies
say
it’s
crucial
to
develop
an
innova8ve
workforce
plan,
create
a
talent
pipeline,
and
engage
employees
–
both
Increased
customer
service
orienta8on
24%
current
and
future
–
in
order
to
remain
compe88ve.
Increasing
sales
outside
the
U.S.
22%
Supply
chain
integra8on
with
suppliers
or
21%
customers
0%
10%
20%
30%
40%
50%
60%
70%
80%
Source:
Boiling
point?
The
skills
gap
in
U.S.
manufacturing,
Deloile/
The
Manufacturing
Ins8tute,
2011.
14

15. Workforce Solutions
Industry Insight
FOURTH QUARTER l 2011