On the Economy

Small-biz hiring improves, confidence falls

2011-08-03T14:24:00.002-04:00

Some sectors of the economy continue to hire, despite a stubbornly inflated unemployment rate in Charlotte and beyond. In the Charlotte metropolitan region, for instance, leisure and hospitality, professional and business services and financial activities were among the fields to add jobs in June, state data show.

Small businesses, too, remain an important driver of economic growth - though a pair of new reports paint conflicting pictures of just how much the small-business job market is improving.

Payroll services company SurePayroll found in its July Small Business Scorecard that small-business hiring climbed 2.6 percent in the Charlotte area. That's better than peers such as Atlanta and Raleigh-Durham.

But wages in the region fell 2 percent. And across the U.S., both hiring and paychecks slipped in July, the report found. Meanwhile, optimism among small-business owners plummeted to 47 percent this month from 67 percent in June, SurePayroll found.

"The economy is in reverse," company CEO Michael Alter said, adding that the turmoil surrounding the debt-ceiling debate played a role.

Conditions at the nation's smallest businesses, though, are a little brighter, according to Intuit Inc.'s latest Small Business Employment Index.

That report, based on a poll of companies with fewer than 20 employees, found small-business employment in the U.S. climbed 0.2 percent in July, or at an annualized rate of 2.9 percent. Hiring in North Carolina grew 0.4 percent.

Small firms across the country have created nearly 715,000 new jobs since October 2009 and 50,000 in July alone, Intuit found. In addition, pay and hours worked climbed in July, too, suggesting there's finally more competition for talented workers.

That "modest yet steady growth" in hiring, pay and hours could mean business conditions are improving, said Susan Woodward, the economist who worked with Intuit to create the index.

"July's small-business data cheers me up," she said.

That's good news for the Charlotte area, where many private firms seem to be rebounding. But the government sector continues to slash jobs, and with an unemployment rate of 11.2 percent in June, the region still has a long road back to full employment.

Will debt deal ease uncertainty?

2011-08-01T11:53:00.004-04:00

As politicians work to finalize a debt ceiling deal, many hope the compromise will wipe out some of the uncertainty still plaguing the U.S. economy.

It's unclear how much of a boost that will generate. But one recent report, at least, suggests the federal budget is a top concern for business owners. The latest Business Confidence Survey from HR and business services firm Insperity Inc., released today, found 74 percent of companies surveyed were either very concerned or had elevated concerns about the federal deficit and total national debt.

The report also found confidence slipping. Although businesses are growing this year, 40 percent are now delaying their expectations of an economic rebound to the first quarter of 2012 or later, the survey found. Just 12 percent reported a belief that the recovery is under way, down from 23 percent in Insperity's last quarterly survey.

In the survey of 5,700 small and medium-sized businesses businesses, conducted in mid-July, 32 percent reported adding new workers, down from 37 percent in the last poll. Sixty-two percent are maintaining current staffing levels, up from 57 percent last quarter, and 6 percent are laying off employees, flat from Insperity's last report.

Business owners' leading short term concern: The economy, followed by health care costs and operating costs. For the longer term, the federal deficit and national debt topped the list of worries, followed by the economy and potential tax increases.

What do you think: Will a federal debt compromise ease business owners' fears, or will other economic factors continue to dampen growth?

In other economic news:

Online job postings across the U.S. fell by 217,000 in July to about 4.15 million, according to a new report from The Conference Board. That follows a decline of 100,000 in June after a virtually flat period in April and May. There are about three job-seekers for every advertised opening, the report found.

Even children are feeling the pinch: A recent Visa Inc. survey found that the Tooth Fairy now leaves an average of $2.60 per tooth - down 13 percent from last year's payout, $3 per tooth. The eastern U.S. seems to have taken the biggest hit. Children there get about $2.10 per tooth these days, down from $3.40 in 2010.

Consumer sentiment and the slowing recovery

2011-07-06T16:15:00.003-04:00

Recent reports of a slowing economic recovery have begun to affect consumers' attitudes toward spending and their overall finances, a new study shows.

The Discover U.S. Spending Monitor, which tracks consumer sentiment, recorded its largest drop ever in June. The monitor, a daily poll of 8,200 consumers, fell 4.4 points from May to the lowest level since July 2009.

More than 60 percent of U.S. adults surveyed rated the economy as "poor," and nearly 56 percent said the economy is getting worse. For the first time since July 2009, more than half of respondents reported their personal finances are worsening, the poll found.

"In the absence of good economic news, such as on the jobs front or with housing prices, more Americans are growing pessimistic about their long-term financial outlook and the outlook for America's economy generally," Julie Loeger, Discover's senior vice president of brand and product management, said.

Consumer confidence is a critical part of the economic recovery, driving spending decisions on everything from new clothes to new homes. What do you think: Do these trends hold true in the Charlotte area?

In other economic news:

Businesses with less than 20 employees created 45,000 new jobs across the U.S. in June, according to Intuit Payroll's Small Business Employment Index. That's a growth rate of 0.2 percent, or 2.7 percent annually. Small-business hiring grew 0.4 percent in North Carolina in June, faster than the average 0.2 percent for the South Atlantic region, the report found. Nationally, pay and hours worked increased, too, Intuit found.

An economic index from N.C. State University rose in May, the first monthly gain since February. Improvement in building permits, manufacturing work hours and manufacturing earnings drove the increase, according to the report from economist Mike Walden. The index was down slightly from a year ago - but the monthly increase suggests the economy could pick up in the second half of the year, the report said.

Report: Businesses uneasy, but some plan to hire

2011-06-30T14:07:00.004-04:00

A new Federal Reserve report is the latest to suggest the economic recovery is losing ground.

The monthly Carolinas Survey of Business Activity's business conditions index fell again in June, a sign that region's recovery has slowed even further. The index was positive for the seventh straight month - meaning more survey respondents saw an increase in business activity than a decrease - but barely.

It fell five points from May to 3, the lowest level since October, the Fed said. That measure has declined steadily since the beginning of the year as business owners' perceptions of sales growth have weakened.

Meanwhile, a measure of firms' expectations for the next six months also fell in June, suggesting companies aren't as optimistic about future business activity.

The survey, released today, comes on the heels of other dismal economic news. Last week, government data showed Mecklenburg County's unemployment rate ticked up to 10.2 percent in May from 9.9 percent the month before. And Federal Reserve Chairman Ben Bernanke warned that some of the problems slowing the U.S. economy could persist into next year.

Somewhat surprisingly, though, Carolinas businesses are still hiring, the Fed found. Its labor demand index, which measures the number of employees, climbed four points in June. Expectations for hiring fell slightly but remained solidly in positive territory, meaning businesses plan to boost hiring in the next six months.

Still, companies don't expect a labor shortage anytime soon, and "that slack is likely to keep downward pressure on wage growth," the Fed report said.

The report suggests companies are more anxious about the economic recovery than they were a few months ago, when most indicators pointed to slow, steady growth. What do you think? Are sales - and hiring - still improving?

Notes on long-term unemployment

2011-06-01T14:21:00.011-04:00

Long-term unemployment is one of the biggest concerns among lawmakers and job-seekers as the economy inches toward recovery.

The Federal Reserve focused on the topic in a recent report, exploring the causes and implications - and raising a few interesting points. Some highlights:

The number of people out of work more than six months has reached levels not seen in the U.S. since the Great Depression. The share of long-term unemployed peaked at 46 percent of all job-seekers in mid-2010, for instance - nearly double the previous peak of 26 percent in the early 1980s. From 1960 to 2010, the average length of unemployment was about 14 weeks. By comparison, the average duration of unemployment in mid-2010 was 35 weeks.

The increase is a result (unsurprisingly) of a more difficult job market than those that followed past recessions, meaning fewer people exiting unemployment, the Fed found.

The availability of extended jobless benefits can affect how long someone remains out of work, the report said. That's because those benefits give job-seekers the ability to hold out for a better offer. The Fed cites a survey that estimated increasing jobless benefits - by as many as 73 weeks, in some cases - might have lengthened the average duration of unemployment by two to six weeks. Still, the Fed notes, that's well below the actual 18-week increase in the average length of unemployment from 2008 to 2010 - meaning other factors are at play.

Older workers do indeed have a harder time finding a job than their younger counterparts, the Fed reported. The average length of unemployment for older workers is more than twice that of younger workers, despite an unemployment rate for older workers that's less than half that of younger ones. That means older workers are less likely to lose their jobs, but once they do, they have a slimmer chance of finding new jobs than younger workers.

What do you think of the Fed's findings?

In other economic news:

Goodwill Industries of the Southern Piedmont has teamed up with Central Piedmont Community College to help veterans find work. Using a grant from Microsoft Corp. of cash and software, worth as much as $8 million, the groups will provide vets and their families with services such as technology training and career counseling. For details, visit www.goodwillsp.org/operationindependence.

Queens University of Charlotte will host a program June 6 about women and finances. "Financial Outlook for Women Across Race & Culture in Today's Economy" is being presented by the Women's Inter-Cultural Exchange and TIAA-CREF. It features a panel discussion and luncheon focusing on women's relationships with money and financial planning. Registration is $15 for inter-cultural exchange members and $20 for nonmembers. For details or to register, visit http://www.wi-ce.org/.

What employers want

2011-05-10T10:12:00.005-04:00

The government's latest jobs report shows employers hired 244,000 people in April - and yet as we all know, competition remains fierce, and thousands remain out of work. So who is actually getting hired?

A new survey suggests the qualities employers look for haven't changed much since the recession began. But companies are using different tactics to recruit workers - meaning it's important to stay up to speed not only on what employers want, but also how they plan to find you.

Global talent management firm OI Partners-Compass Career Management Solutions found recently that employers want workers who are experienced, team oriented, customer focused, smart and capable of achieving results.

The nearly 200 companies surveyed said they're using social media such as LinkedIn more than last year to recruit candidates. They're also using their company websites, obtaining referrals from current workers and hiring people first as contract employees more frequently than in the past, the poll found.

"Employers are being more selective in the types of employees they want and the methods they are using to find and interview them," said Robyn Crigger, managing partner of OI Partners-Compass Career Management Solutions in Charlotte.

Some bright news: More than half of the companies surveyed have increased hiring. But about a third said it's taking longer to hire this year as companies make sure their business justifies additional staff and conduct more interviews to confirm they're selecting the best candidate.

Employers are also interviewing candidates by phone more often and are more frequently using team interviews and behavioral interviews, the survey found.

The types of employees in highest demand: operations workers, such as customer service reps, followed by sales, IT, administration, finance and HR workers, the report found.

Job-seekers, have you noticed anything different about your search this year? What has worked for you - and what hasn't?

Small businesses add jobs, remain cautious

2011-05-02T10:50:00.004-04:00

Two new reports show meaningful gains for small businesses - and continued uncertainty related to the slow economic recovery.

HR advisor Insperity's Business Confidence Survey found small-business owners are hiring more workers and boosting pay in anticipation of increased business in 2011. Nearly 40 percent of respondents said they were adding jobs, the report released today said, up from 24 percent last fall. Still, just 23 percent believe an economic rebound is under way, with 40 percent saying they expect it to occur in the second half of this year or later.

"We're starting to move in the right direction, led by the flexibility and adaptability of this vital segment of the business community," Insperity CEO Paul Sarvadi said.

Yet difficulties remain: Insperity's internal data suggest entrepreneurs are still taking a more conservative approach to employment-related decisions, the report said. Overtime made up 8 percent of workers' pay, for instance, down from about 9 percent in November - still below the 10 percent level that often indicates a need for more employees, Insperity said.

Meanwhile, Intuit Inc.'s monthly Small Business Employment Index, also out today, found businesses with fewer than 20 employees created 60,000 new jobs in April. Employment grew 0.3 percent that month, for an annual growth rate of 3.6 percent. N.C. job growth was 0.3 percent in April, too, Intuit found.

"Small-business employment is showing continued strength," said Susan Woodward, the economist who helped Intuit create the index. "... While we have a long way to go to full employment, we have seen continued improvement now for a year and a half."

Pay increased 0.5 percent in April to $2,653 per month - about $31,800 per year - while monthly hours worked increased 0.7 percent, the report found. The index is based on figures from small businesses that use Intuit's online payroll tools.

That rising pay continues a trend that began about six months ago, Woodward said. But it's due in part to employees working more hours - "so despite this slight rise in compensation, the small business labor market is still soft, and employers have room to hire without pushing wages up," she said.

Production improves, but hiring lags

2011-04-28T10:39:00.004-04:00

One issue that continues to trouble job-seekers and economists as the recovery progresses is the disconnect between productivity and employment. In other words, businesses are working more - but not hiring more workers.

That's the topic of a new report from Wells Fargo economists, "Production and Jobs: Marching to a Different Drummer." It notes that gains in industrial production mirror those of the past seven recoveries. The manufacturing sector continues to improve, especially in terms of capital goods production for businesses' investment in equipment.

But "the outlier in this pretty economic recovery picture is employment," the Wells Fargo Securities Economics Group report says. "While recent months have seen a modest rise in jobs, there is clearly a pattern of below-average job recovery as the economy has improved."

That's true in the Charlotte area: The jobless rate fell to 10.4 percent in March from 10.9 percent the month before, yet that remains more than double the region's pre-recession level. About 47,000 fewer workers are employed in the Charlotte area than in December 2007, when the recession began.

"Many local job markets remain deeply scarred by the recession," economist John Quinterno of South by North Strategies Ltd., a Chapel Hill research firm, said Wednesday after the latest unemployment data came out. "... Job growth is not occurring at the pace needed to accommodate all the North Carolinians who need and want to work."

Those gains are well below the pace of hiring seen in past economic recoveries, the Wells Fargo report says. Part of the reason is supply and demand, it says.

The U.S. has long had an oversupply of lower-skilled workers and a shortage of high-tech scientists and engineers. That was less apparent in the 1950s through 1970s, when increases in U.S. production meant increased demand for workers of all kinds, and health professionals, engineers and scientists moving from other countries continued to make up for the shortage of domestic professionals, the report says.

But more recently, increases in U.S. demand have been satisfied by increased imports - meaning domestic job growth is lagging, the Wells Fargo report says. Many workers are unable to acquire specialized skills as quickly as the market needs.

And "therefore, many of the unemployed are unemployed longer because of a mismatch of skills," the report says. "... This problem has persisted in this cycle far longer than usual."

What do you think? Are your skills in line with the jobs available - and employers, what's behind the slow job growth?

In other news:

Central Piedmont Community College's Institute for Entrepreneurship hosts its fifth annual Entrepreneurial Success event May 18. The conference, held from 9 a.m.-2:30 p.m at CPCC's Harris Campus, is meant to help new and existing small-business owners find success in the marketplace. It features presentations from business owners and experts, tips and giveaways. Registration costs $15. To register or learn more, visit www.cpcc.edu/e-institute.

Poised for a comeback

2011-04-13T15:22:00.004-04:00

Charlotte's economy is "slowly making its way back," and its recovery in coming months will hinge largely on the financial services sector, a top economist said this week.

Moody's Analytics chief economist Mark Zandi, who was in Charlotte for an attorneys general conference on financial reform, said Charlotte-based Bank of America Corp. is still working through its mortgage issues, and small-business lending remains tight at banks locally and across the country. But those loans are picking up, and the overall economy is improving, he said.

Another recent report gives a nod to Charlotte's finance sector, saying job growth there is one reason the city will bounce back faster than others. Kiplinger.com named Charlotte one of its "11 Comeback Cities for 2011," saying it's one of the places "enjoying a surprising and welcome upward bounce."

Nashville and Seattle also made the list, as did a few cities that fared worse during the recession: Las Vegas, Phoenix and Flint, Mich. (See the full list here.)

The report says growth in the energy and power industries will give Charlotte a boost this year, with about 3,000 jobs coming from energy, financial services and even construction firms. Kiplinger predicts employment in the metro area to grow about 3 percent in 2011.

Still, it's going to take a while before Charlotte returns to its pre-recession prosperity. And even then, another crisis might not be far off, Zandi cautioned in his report to the state attorneys general.

He said a U.S. financial crisis will likely occur every 10 years or so, as new leaders take over at banks and other companies, and as businesses and consumers forget the pain of the last recession.

It's a natural byproduct of risk, Zandi said, and you can't eliminate that without losing part of what makes our country great: People's willingness to gamble on new ideas.

"If we don’t have crises," he said, "we probably aren't taking enough risks."

Key to the career search: youth?

2011-04-07T11:25:00.004-04:00

Some of the country's top executives, led by Wells Fargo & Co. CEO John Stumpf, pledged this week to ramp up their summer hiring - and called on other companies to do the same.

The executives are part of a new U.S. Department of Labor program, Summer Jobs USA, an effort to create and fill 100,000 jobs for low-income workers ages 16 to 24. The idea is to provide a foot in the door - through internships or part-time summer work - that could turn into a long-term career, Secretary of Labor Hilda Solis said during a news conference Wednesday.

The unemployment rate for Americans ages 16 to 24 was 17.6 percent in March, twice the national average, 8.8 percent. During the recession, some companies in Charlotte and beyond slashed funding for their summer internship programs and rescinded summer job offers as they scrambled to cut costs.

Employers plan to hire 7 percent more interns this year than last year, according to a recent report from the National Association of Colleges and Employers. College students are expected to earn $16.68 per hour at their internships this summer, down slightly from $17 last year, the study found.

Wells Fargo, which bought Charlotte-based Wachovia in 2008, was one of the first companies to join the DOL program this year. The bank will hire 1,000 college and MBA students across the country as summer interns, Stumpf said. (Meanwhile, Wells is eliminating 310 mortgage jobs in the Carolinas, part of 1,900 cuts around the country, the Observer reported today.)

Stumpf called the summer hiring push a "triple win," saying the bank can learn from its young workers, the interns can learn important career skills and make money and the country can benefit, overall, from more people working. Wells Fargo typically hires 60 to 70 percent of its interns when they graduate, the DOL program website says.

UPS, another participant, plans to hire 1,500 summer workers in more than 70 locations around the country, said Betty Amend, vice president of human resources. Those jobs are primarily part-time, entry-level roles, but the company has a strong promote-from-within policy and intends to hire many of those workers full time, said Amend, who started at UPS as a summer worker 27 years ago.

About a dozen companies have joined the DOL summer jobs program so far. “I would encourage all companies ... who are shy and not yet committed, especially in financial services, to commit,” Stumpf said. “It’s a great way for us to engage with America.”

To participate, or to look for summer jobs, visit www.dol.gov/dol/summerjobs.

Is the recovery sustainable?

2011-04-05T11:27:00.005-04:00

Most economic signs indicate a recovery is under way: The unemployment rate is inching downward, wages are crawling upward and consumers are - slowly - beginning to spend again.

But foreclosures persist and thousands remain unable to find work, among other continuing woes. And that's left many wondering whether the recovery is sustainable.

Richmond Federal Reserve President Jeffrey Lacker, for one, says it is. During a banking seminar in Charlotte last week, he acknowledged there will be some surges and slowdowns - but said those shouldn't detract from the overall positive trend.

"We have good, broad momentum," he said. "It's not going to be a cruise-control recovery."

A new survey shows many Mecklenburg County business leaders feel the same. The inaugural BusinessFirst Charlotte Confidence Index, conducted in March, found local leaders are confident about the local and national economy, as well as their sales, profits, hiring plans and capital expenditures for the second quarter.

Seventy percent of businesses surveyed indicated positive increases in sales, and 59 percent projected an increase in profits in the second quarter compared to the first quarter, the poll found.

Overall, business leaders are slightly more positive about the local economy than the national economy, with nearly 60 percent expecting the local economy to improve, and just half predicting improvement nationally in the second quarter.

Hiring remains tricky: Just 43 percent of respondents expect to ramp up hiring in the second quarter versus the first quarter. But only 3 percent expect hiring to decrease, the survey found.

The survey, administered quarterly by the Urban Institute at UNC Charlotte, produces real-time reports meant to reflect the local economic climate and help policymakers, businesses and job-seekers determine which industries are adding jobs or making investments during the coming quarter. The business leaders who responded represent a range of industries, from manufacturing to finance.

Charlotte Chamber President Bob Morgan said last week the survey is "exactly the type of information that will help us with our work to attract and retain businesses here in Charlotte."

What do you think? Do you expect the economy to improve in the second quarter? And do you think the recovery, overall, is on the right track?

More slow improvement, report shows

2011-03-25T09:35:00.003-04:00

The economic recovery, it seems, can be summed up in a word: Slow. A new Federal Reserve report is the latest to illustrate the trend, showing signs of improvement but no major gains.

The Carolinas Survey of Business Activity's general business conditions index held flat from February to March, suggesting a stable pace of growth, the Fed found. The index remained in positive territory for the fifth straight month, meaning more respondents noted an increase in business activity than those who reported a decrease.

The survey's measure of business expectations - companies' outlook for the next six months - fell 9 points in March, though it remained high by historical standards, the Fed report said. That number remained positive, too, a sign of positive momentum heading into the second quarter.

The business survey also takes the pulse of the job market. It found two labor demand indicators, measuring companies' current workforce and average work week, were positive in March. That could mean hiring is modestly improving, the report said.

Labor demand expectations remained strong this month but were down two points from February. And the survey's measure of labor supply indicates slack in the job market persisted into March.

Meanwhile, each of the three measures of current business spending increased notably in March. The current business services spending index, for instance, jumped to 10 from 3 in February, its highest reading in a year. And businesses' spending plans for the coming months remained solidly positive, the Fed found.

Economists say it could take months for the recovery to gain steam. Until then, many predict more of the same: slow, steady gains.

N.C. income grows in 2010

2011-03-23T15:01:00.004-04:00

Income for N.C. workers is on the rise again after slipping during the recession, according to a new report from the U.S. Bureau of Economic Analysis.

Personal income in North Carolina grew 4 percent in 2010 after falling about 1 percent the year before. That was the fifth-fastest growth in the country, outpacing the national average, 3 percent, the BEA found (see the full report here).

But the state's $35,638 per-capita personal income level remains well below the $40,585 U.S. average, ranking 35th in the country. And despite the uptick, people remain cautious about their budgets and savings, Charlotte financial advisor Mark Antonich said.

"When markets are good, everyone is greedy and happy. There's a feeling of do-it-yourself, confidence," said Antonich, a certified financial planner at Ameriprise Financial in Ballantyne. "What we've seen is more people seeking advice."

Many of those clients are workers nearing retirement - but just about anybody can benefit from working with an advisor, he said. Antonich recommends researching a potential advisor using the Financial Industry Regulatory Authority's broker check and familiarizing yourself with the advisor's service model and personality.

In the meantime, he offers these personal finance tips:

Start with a simple analysis of your income and expenses. Look at your bank statement for three or six months for a good snapshot. Try to avoid debt.
Set goals. It's important to understand what you're trying to accomplish and set specific goals to get there. What do you want to do once you're retired, for instance? Then compare those goals against your spending habits.
Plan for the unexpected. Insurance is one of the first expenses people cut in down times, Antonich said. Think about where else you can trim your budget.
Don't panic. Think about the overall economy, but also consider your personal economy - not every big-picture issue will affect your bottom line. Avoid emotional investing or decision-making.

Poll: Economic fears easing

2011-03-10T15:16:00.005-05:00

Employers are finally beginning to "see the light at the end of the recession tunnel."

That's according to the Society for Human Resource Management, whose recent survey of HR professionals found fewer employers freezing wages, cutting bonuses and laying off workers than in years past.

Yet challenges remain. The poll, conducted last fall, found that 60 percent of businesses surveyed made budget cuts across the entire organization, down from a high of 73 percent in fall 2009. And new unemployment data out today show North Carolina's jobless rate climbed to 9.9 percent in January from 9.8 percent the month before, signaling continued workplace woes.

Still, the SHRM poll suggests employers are growing more confident - which could ultimately lead to more hiring. Other key findings:

Government agencies (85 percent) were more likely to cut budgets than private companies (51 percent).
In the last six months, 38 percent of organizations surveyed have rehired employees laid off during the recession.
Employers are still struggling, with 20 percent indicating they had to reduce employee benefits in the last six months - the highest level since fall 2008.

In other jobs news, here are a few opportunities for job-seekers:

CharlotteHires is hosting a job fair on March 23 at the Renaissance Charlotte Suites Hotel, 2800 Coliseum Centre Drive. The event runs from 11 a.m.-2 p.m. and will feature dozens of hiring companies and a local career expert, who will provide free resume reviews. Job-seekers should dress professionally and bring multiple copies of their resume. For details, visit http://www.charlottehires.com/.
For Asheville-area job-seekers, Biltmore is looking for about 90 food and beverage professionals at a job fair March 17. The event takes place from 1-6 p.m. Several positions are full-time and year-round, and jobs range from entry-level to management roles. Benefits are available for some positions. Download an application at http://www.biltmore.com/ (click "careers") and bring the form to the event. More information: employmentquestions@biltmore.com.

Five "don'ts" for retirement

2011-03-09T15:04:00.004-05:00

Retirement continues to be a hot topic - and a major cause of concern - for a growing number of workers. Rising property tax assessments this year have added to the worries for some Charlotte-area homeowners, who now wonder how long their retirement savings will last.

The Employee Benefit Research Institute's 2010 Retirement Confidence Survey found a growing number of U.S. workers are planning to delay retirement. And a recent Ameriprise Financial poll ranked Charlotte 27th of the 30 largest U.S. metro areas in terms of retirement readiness.

Many workers are under-prepared because they were counting on their homes, investment portfolios and 401(k)s - assets that suffered big hits during the recession - to carry them through retirement, say financial advisors Bryan Philpott and Todd Witt of Aspire Wealth Management in Cornelius.

“Planning your income stream for retirement is the first step toward preserving value and maximizing spending power as you age, but you must plan now to have more later,” Witt said.

The advisors offer these “don’ts” to help you prepare for retirement:

Don’t start taking Social Security when you turn 62. When you decide to draw benefits will determine how much those monthly benefits are going forward. Try to live off of other savings first. If you wait until you’re 70, for example, you can expect 75-80 percent more than what you would have received by starting withdrawals at 62.
Don’t overlook inflation. The average rate of inflation is about 3 percent per year. Failure to plan for that can have a dramatic impact on your spending power as you age. Make sure your retirement savings is growing at least at the average rate of inflation.
Don’t ignore the rising costs of long-term care. About 7 in 10 people require some form of long-term care as they age, so plan ahead. If you anticipate requiring some form of assisted living or nursing home care, plan for an additional $38,000 to $70,000 per year. Long-term care insurance, which has become more affordable and more accessible, is one option to consider.
Don’t overexpose your retirement assets to risk. Many workers nearing retirement lost money when the stock market slid. Make sure your investments match your goals; the closer you get to retirement, the more conservative your investment strategy should be.
Don’t assume tax cuts will be extended beyond 2012. Federal debt continues to rise, and proposals to stabilize it include eliminating tax breaks or increasing taxes. Consider a Roth IRA or other vehicles that will allow you to pay taxes on your contribution at today’s lower tax rates, rather than on the withdrawal, when tax rates are still to be determined.

Best bet for job search: Think small?

2011-03-02T11:14:00.003-05:00

Economists and local officials have long called on small businesses to drive the region's recovery. Now, some career experts are urging job-seekers to target those small companies, saying they might be the best hope for hiring in the coming year.

The country's smallest businesses - with fewer than 20 employees - created 50,000 new jobs in February, according to Intuit Inc.'s monthly Small Business Employment Index. The number of small-business jobs was up about 0.3 percent from January, continuing a trend of growth that began in October 2009.

The number of hours worked increased slightly, to about 108 hours per month, while compensation remained flat in February, about $31,300 per year. Meanwhile, small-business jobs in North Carolina decreased slightly last month - 0.1 percent - from the month before.

Charlotte talent management firm OI Partners-Compass Career Management Solutions advises job-seekers to "think small," citing other recent studies that suggest a pickup in hiring at small businesses this year.

But to be successful, candidates might have to emphasize different skills and qualities than they would for a large employer, managing partner Robyn Crigger said. Here are some of her tips:

Emphasize the immediate value you can bring. Achieving results and boosting sales and profits quickly are especially vital to small companies. Focus on what you can deliver right away and during your first three to six months. Provide specific examples.
Connect with the interviewer. Chemistry with your boss and coworkers is essential at a small business, where working relationships are closer.
Network. Smaller companies are less likely to advertise openings or post them online. Network through professional groups, or volunteer with charitable, civic and religious organizations. A referral from another employee will go a long way.
Address potential concerns. Smaller businesses might worry a job-seeker is overqualified or will leave for another job if he has held higher positions with larger companies and made more money than the company is able to pay. Counter that your experience will solve problems and help increase revenue and salaries.
Show interest. Show that you are enthusiastic and can motivate your coworkers.

Report: Business conditions improving

2011-02-28T12:20:00.004-05:00

Business conditions in the Carolinas improved in February, according to a new Federal Reserve report.

The latest Carolinas Business Activity Survey's general business conditions index jumped to 17 this month from 9 in January. A positive reading indicates that a larger percentage of respondents saw a pickup in business activity than those who reported a slowdown. The index was positive for the fourth month in a row.

The survey's measure of business expectations also rose, reaching its highest level since April 2010 - suggesting firms are increasingly confident that economic momentum will build in coming months, the Fed found.

Labor market indicators show modest improvement, too. The index measuring current demand remained in positive territory, meaning more companies are adding to their headcount. Meanwhile, though, the Fed's measure of labor supply suggests there was still considerable slack in the job market in February.

In other jobs news: Central Piedmont Community College is hosting its 23rd annual career fair this week. Organizers expect as many as 2,500 job-seekers. More than 70 employers in various industries, from sales to health care, have already registered to participate.

Where: Grady Cole Center, 310 N. Kings Drive.
When: Thursday, March 3, 10 a.m.-2:30 p.m.
How to join: Job-seekers do not need to register in advance. They should dress professionally and bring resumes to give to potential employers.
For more information: Click here or call 704-330-6449.

Local economy weakens in '09, report shows

2011-02-23T12:18:00.005-05:00

The Charlotte area's real gross domestic product fell 4.4 percent in 2009, fueled by losses in the construction and professional and business services sectors, according to new data from the U.S. Bureau of Economic Analysis.

Meanwhile, finance and insurance, which holds the largest share of the region's private-sector GDP, grew slightly, the report released today shows.

The Charlotte area generated $101.3 billion in real GDP in 2009, down from nearly $106 billion the year before, the BEA found. It's a rare decline after years of growth, returning the region's economy to its 2005 level.

That $4.7 billion loss ranked Charlotte 253rd out of 366 metropolitan statistical areas in terms of GDP growth, behind Boulder, Colo., and ahead of Anniston, Ala. Charlotte's losses are due in part to hits to the construction and professional and business services sectors, the BEA found.

Transportation and leisure and hospitality also generated less money in 2009, while the education and financial activities fields grew slightly.

Finance and insurance accounted for more than 27 percent of the Charlotte region's private-sector GDP in 2009, up from about 26 percent the year before, the BEA data show. Charlotte remains, by far, the largest U.S. city to rely so heavily on any one sector.

Nationally, real U.S. GDP by metropolitan area declined 2.4 percent in 2009, the report found. Real GDP fell in 292 metro areas, or 80 percent of the total, driven by big declines in durable-goods manufacturing, construction and professional and business services.

Casper, Wyo., was one city to buck the trend: Its GDP grew 22 percent in 2009 thanks to its growing natural resources and mining sector. Kokomo, Ind., by contrast, saw the biggest drop, falling 20 percent as a result of its manufacturing sector's decline.

The nearby Hickory-Lenior-Morganton metropolitan region wasn't far behind. Its GDP fell almost 11 percent in 2009, with big losses in manufacturing, transportation and construction, ranking it four spots from the bottom.

Need a job to get a job? EEOC investigates

2011-02-17T12:22:00.004-05:00

Local job-seekers have expressed concerns about a growing problem: employers who refuse to consider out-of-work applicants.

The issue is gaining national attention. On Wednesday, the U.S. Equal Employment Opportunity Commission held a public meeting on the trend. There, a panel of employment experts confirmed a growing number of job posts restricting applicants to the employed.

“The use of an individual’s current or recent unemployment status as a hiring selection device is a troubling development in the labor market,” said Fatima Goss Graves of the National Women’s Law Center.

She said women are disproportionately affected by the restriction. The use of employment status to screen job applicants could also affect minorities, older job-seekers and workers with disabilities, panelists testified.

Helen Norton, a professor at the University of Colorado School of Law, said the affected jobs range from electronic engineers to restaurant managers.

“Some employers may use current employment as a signal of quality job performance,” she said. “But such a correlation is decidedly weak.”

Some panelists were uncertain about the extent of the problem. In the Charlotte area, it’s been difficult to track. Many employers are hesitant to talk about their hiring process, and experts say the practice is still rare. But it's a growing concern in a region plagued with long-term unemployment and a seemingly bottomless pool of qualified job seekers.

In other economy news:
Economic-development leaders are looking for companies to participate in a new business confidence survey. The BusinessFirst Charlotte Confidence Index survey will be administered quarterly by UNC Charlotte's Urban Institute to produce real-time economic reports.

The concept stemmed from a job summit Mayor Anthony Foxx hosted in January 2010 and is meant to help policymakers, businesses, job-seekers and the media determine which industries will add jobs or make investments in a given quarter.

Organizers are looking for 500 businesses of different sizes and from different sectors to participate. Firms are asked to identify someone to fill out the six-question electronic survey each quarter.

Interested companies can complete a one-time registration at http://ui.uncc.edu/businessfirst. The first online survey will go live on Feb. 28. Its results will be released at the end of March.

How the N.C. job market compares

2011-02-08T12:01:00.004-05:00

There's no question the job market remains unsteady in the Charlotte area and across the state. Still, government data show, other places have it worse.

This new tool from the Washington, D.C., think tank the Economic Policy Institute shows which states' jobless rates have spiked the most since the recession began.

North Carolina ranks on the upper end, the interactive map shows. Its unemployment rate has climbed nearly 5 percentage points since December 2007, ending last year at 9.8 percent. But more than a dozen states recorded bigger jobless-rate jumps, including Nevada, Florida and California, the map shows.

Nevada's unemployment rate surged more than 9 percentage points, to 14.5 percent in December. North Dakota, by comparison, fared the best, with its unemployment rate increasing just 0.8 percent during that three-year period.

Experts agree it could take a while for those trends to turn around. The job search engine Indeed found recently that the number of job postings slipped in January from the month before in 11 of the 12 industries it tracks. Real estate was the only industry to post more jobs in January than December - but it continues to have the lowest number of overall openings.

On the bright side, though, job postings in every industry remained significantly higher than a year ago, Indeed found. All 12 industries posted at least 14 percent more openings last month than in January 2010. Transportation jobs saw the biggest year-to-year gain for the ninth straight month, more than doubling in January from the year before.

Survey: Charlotte's business climate strong

2011-01-28T10:00:00.003-05:00

The Charlotte region is popular among site-selection consultants for its workforce, business climate and airport - though some say the area remains too dependent on banking, a new survey found.

The poll of 60 location advisors, conducted in November by Charlotte's Luquire George Andrews and the New York-based Development Counsellors International, was meant to gauge outsiders' perceptions of the Charlotte area's business climate. It's part of local boosters' efforts to market the region nationally and internationally.

Understanding how site-selection consultants see the area is important because they advise companies on where to build new facilities, expand existing ones or move operations.

Some highlights:

More than half of respondents had been to the Charlotte region within the past year, and 88 percent had explored the area in the past for a client.
Location advisors ranked Charlotte's business climate No. 1 among a group of cities that included Atlanta, Nashville, Raleigh-Durham and Chicago.
More than a quarter of the advisors who explored Charlotte for a project said the region was ultimately chosen. The top reasons: availability of a skilled workforce, location and accessibility of the region and the quality and availability of incentives.
Those who didn't choose the reason said their project was cancelled or delayed or that logistics, such as a competing site that was closer to suppliers, played a part.
When asked what industries they associated with the region, 90 percent of respondents said financial services and insurance. Just 13 percent mentioned energy. The perceived dependence on the financial sector was one of the region's biggest weaknesses, survey respondents said.

Andy Levine of Development Counsellors International, which specializes in marketing cities, states, regions and countries, said the survey results were "primarily very, very favorable" - but that local officials need to ramp up promotion of the region's growing sectors.

"One of the challenges is, obviously there's a lot of banking and finance, but there are a lot of other companies, too," he said. "It's telling the story of life sciences, energy, other companies succeeding."

There's an opportunity now to develop a new strategy for marketing the Charlotte region, Levine said.

"It provides us with a benchmark," he said. "And let’s see, if we were going to replicate this, how would we move the needle and change things?”

New grant = new hires?

2011-01-21T13:30:00.006-05:00

Workforce development officials hope a recent grant, meant to help employers pay for new workers' training, will spur hiring across the region.

The Charlotte Mecklenburg Workforce Development board has received $200,000 of federal money to distribute to local employers through the On-the-Job Training program, it announced this week. That program reimburses eligible employers for as much as 90 percent of a new worker's wages while the employee is trained.

The training typically lasts three to six months, and its long-term goal is to teach transferable skills and help employees advance within the company.

"We know many individuals struggle to find employment, and this new program was specifically created to give a leg up to qualified workers by reducing an employer's training costs," said Deborah Gibson, executive director of the workforce development board, which also oversees Mecklenburg's five JobLink centers and the ProNet career center uptown.

Employers and positions must be approved before any hiring or training begins. For more information, visit http://www.charlotteworks.org/.

Ready for retirement?

2011-01-19T10:13:00.003-05:00

It's no secret that people are working longer these days - even going back to work after retirement - in today's troubled economy. But a recent poll found Charlotte workers in worse shape than most other major U.S. cities when it comes to retirement readiness.

Ameriprise Financial surveyed more than 10,000 workers between the ages of 40 and 75 last fall about how confident they felt in their finances, whether they'd set aside money for retirement and how prepared they felt to retire.

Charlotte ranked 27th of the 30 largest U.S. metro areas, ahead of Orlando, Indianapolis and Los Angeles. Minneapolis-St. Paul topped the list, while Raleigh-Durham landed the No. 2 slot.

The poll found residents in the top-ranked areas have made retirement planning a priority, both financially and emotionally. In the Twin Cities, 83 percent of survey respondents said they have set aside money for retirement, well above the national average of 69 percent. Nearly half of residents there reported feeling "on track" for retirement, while a third said they are "very confident" in their financial future.

Respondents in the lower-ranking cities, by contrast, expressed concerns about career setbacks and unemployment, saying such factors have hindered their plans to set aside money for retirement.

Charlotte's low ranking is likely related to its harder-than-average hit in the wake of the financial crisis, says Chris Hobart, a Charlotte financial advisor who specializes in retirement planning. That's left many workers nearing retirement worried about preserving their savings, fearful of taxes or concerned they'll need to work longer than they expected.

"People have in their mind 62 or 65," Hobart said. But "people should realistically begin to look at 70."

He offers these tips for retirement planning:

Don't count on the economy to do what it did during the boom, and don't count on pensions and Social Security - once sure bets - to pad your savings in retirement.
Build your portfolio the way you'd build a house: Start with a strong foundation of safe, low-risk investments, add solid walls and, finally, a riskier roof. Your percentage of safe investments should be roughly equal to your age.
Don't wait until you're retired to begin planning. Talk to a financial advisor five years before you hope to retire. That person should be a specialist who understand Medicare, Social Security and other issues related to older workers.

New services at ProNet

2011-01-10T09:48:00.002-05:00

ProNet Charlotte, one of the area's most popular career-help centers, is adding new programs to better serve displaced workers.

The uptown center, launched in 2009 to help laid-off professionals, will offer new workshops and more frequent classes, says Deborah Gibson, executive director of the Charlotte Mecklenburg Workforce Development Board, which oversees ProNet.

New workshops include: tax and finance issues facing the unemployed, creating possibilities through innovation, how to become a consultant and stress management.

ProNet has served more than 2,100 professionals since October 2009, including 112 new participants last month. The job-seekers who use the center come from a wide range of industries and typically average 15 or more years of experience.

About 260 participants, or 12 percent, are now employed, ProNet found recently.

The career center is located at 525 N. Tryon St. on the second floor. For a full list of workshops or to register for a class, visit www.pronetcharlotte.com.

Charlotte among top hiring cities?

2011-01-06T11:00:00.005-05:00

Economists predict some job growth in the new year, but it remains to be seen how many jobs will be created and whether they'll make a dent in the region's unemployment rate.

One online job-search site is betting on Charlotte. CareerBliss, which posts job reviews, salaries and openings, recently ranked Charlotte No. 8 in its list of top cities for hiring in 2011, with an average of 303,700 jobs posted annually.

Charlotte ranked lower than some larger cities, including New York, which placed first, but it edged out Dallas, Houston, San Diego and other major cities. CareerBliss' data show a heavy surge in information technology jobs in the area, its report said.

Among the top 20 cities, the most commonly posted jobs include IT, sales, engineering, marketing and health care, CareerBliss found.

Overall, though, the jobs picture remains uncertain. The Conference Board found in a report this week that online job postings across the U.S. dipped by 9,400 in December. There are 10.7 million more unemployed workers than advertised openings, the business research firm found.

In local jobs news:

Online marketing and sales company Red Ventures is holding a job fair Tuesday at its Fort Mill headquarters. The event will take place from 10 a.m. to 1 p.m. at the company, which anticipates hiring 400 people this year. Interested candidates must register for a time slot.
SCORE, which assists small-business owners, is holding a series of seminars on getting started and growing your small business, beginning this month. For information or to reserve a spot, call 704-344-6576 or visit http://www.charlottescore.org/.

Job trends to watch

2010-12-09T10:11:00.003-05:00

Economic reports from business leaders and economists this week predict a slight improvement next year, though they acknowledge the recovery is progressing slowly and shakily.

Wells Fargo's recent Annual Economic Outlook, for instance, projects growth and expansion in 2011 - but "that said, growth in the coming year will remain modest, containing risks that could potentially hinder the performance of your business."

Experts agree that jobs remain one of the most important indicators. Here are a few highlights from recent reports on the trends to watch in the coming months:

Total job postings on search engine Indeed rose 40 percent in November over the year before, though they dipped slightly from October. Indeed found that the health care and IT industries had the least amount of competition for jobs, with 14 and 19 job-seeker clicks, respectively, per job posting.
A survey from the Society of Human Resources Management found that hiring will make slight gains in December. A net 34 percent of manufacturers surveyed, for instance, expect to hire this month, up from 11 percent last year. The monthly report, based on a poll of human resources professionals at more than 1,000 companies nationwide, also found that new-hire compensation rose in November.
Staffing firm Robert Half International reported that 88 percent of executives surveyed recently are at least somewhat confident in their companies' growth prospects for the first quarter of 2011. That's up two points from the previous quarter. Yet, as is the case with so many recent economic reports, the national study reveals mixed signals: Just a net 5 percent of executives expect to increase their hiring in the first quarter next year.

Company holiday parties returning?

2010-12-01T09:34:00.004-05:00

Corporate holiday parties are starting to make a comeback - though it will be a while before they're as lavish as before the recession, according to a new survey from global outplacement firm Challenger, Gray & Christmas Inc.

The firm found that 68 percent of companies polled plan to hold parties this year, up from 62 percent last year. About 4 percent of those companies are bringing back their parties after one or more years of no festivities, due to the recession.

Yet more than half are holding their celebrations on company premises, up from 29 percent in 2009. And just 6 percent plan to spend more on their parties this year than last, while 18 percent are spending less.

"We are at a precarious stage in the recovery, where some companies are feeling it more than others," Challenger, Gray & Christmas CEO John Challenger said. "Many companies are still struggling."

The holiday party scene will vary across the country this year, he said. New York, for instance, is rebounding faster than other cities, so parties there might be more extravagant. West Coast tech companies are also doing well. Overall, though, it will likely be a year or more before most companies bring back the types of parties they had before the recession, Challenger said.

"It's hard to justify the expense of a party when we are fighting to keep people's jobs," one HR executive said in the report. His New York-based consumer products company is budgeting less for its party this year, holding an in-house lunch instead of an off-site event with a full bar.

Some companies polled said employees actually preferred scaled-back parties, such as an employee lunch: "Feedback is that this more simple approach is less intense and enables people to more easily connect and converse with one another."

Charlotte-area employers and workers, what's going on at your companies this year? Are parties returning - and if so, how do they compare to pre-recession celebrations?

The plight of the older worker

2010-11-18T14:49:00.003-05:00

The government is taking note of a problem discussed often in Charlotte and beyond: the plight of the older job-seeker.

At a meeting Wednesday, the U.S. Equal Employment Opportunity Commission heard testimony that age discrimination is causing the nation's older workers to struggle to find and keep jobs - a problem exacerbated by the economic downturn.

Age discrimination charges filed with the EEOC have risen to nearly 22,800 in fiscal year 2009, up 38 percent from 2006. Now, age-based claims make up nearly a quarter of all charges, the EEOC reports.

As part of the expert testimony Wednesday, William Spriggs of the U.S. Department of Labor said the jobless rate for people 55 and older rose to 7.3 percent in August from 3 percent before the recession began, making the past two years the longest spell of high unemployment workers in the age group have experienced in 60 years. Older workers also spend far more time searching for work and are jobless far longer than workers younger than 55.

Representatives from the AARP and Society for Human Resource Management discussed best practices to attract and keep older workers, including increasing part-time and flexible-work schedules and offering "phased retirement."

"Hard-working men and women should never be harassed at work or forced out of their jobs on account of their age," EEOC chairwoman Jacqueline Berrien said in a news release. "The testimony ... will be invaluable as the Commission works to strengthen its enforcement of the Age Discrimination in Employment Act."

Learn more about the meeting here. And older workers, what do you think? Have you struggled with finding or keeping your job? What tactics work best in the search?

Job-search myths

2010-11-17T12:56:00.003-05:00

Falling for myths about the job search could prevent people from finding work or advancing their careers, consultants at OI Partners-Compass Career Management Solutions in Charlotte say.

The global talent management firm surveyed its career consultants and compiled a list of the top job-search myths. See which ones you agree and disagree with:

Older job-seekers should leave graduation dates and years of experience off their resumes and social media profiles. Career consultants say this can be a red flag. Instead, older employees should be prepared to address their age - referring to themselves as high-energy and able to learn new systems while emphasizing their experience and work ethic.
Telephone interviews are not as important as in-person interviews. With so many candidates available, employers are more frequently using phone interviews to screen applicants. To make the most of your phone interview, dress for business during the call and stand up while talking, the firm says. Keep notes in front of you and have a list of talking points arranged by topic in large letters so you can access important information without rustling papers. End the call by asking about the next steps - and the possibility of meeting in person.
Updating your online presence isn't as important as updating your resume. More employers are using social media sites, especially LinkedIn, to recruit potential employees. An out-of-date profile could keep you from being contacted.
Job-seekers should focus on finding full-time work instead of freelance or contract assignments. OI Partners-Compass Career Management Solutions says the temporary job market is picking up, and many employers are adding temporary or project workers before deciding to hire full-time staff. This kind of work allows job-seekers to keep their skills current, make new contracts and earn money.
Networking is overrated. Actually, most people being hired owe their jobs to networking, the firm says. Career consultants recommend spending 75 percent of your searching time developing relationships. Ask new networking contacts for additional names, and keep contacts in the loop with periodic updates, even after you've been hired.

Charlotte-area layoffs slow

2010-11-03T10:51:00.004-04:00

Layoffs continue to slow in the Charlotte region, new government data show. The number of initial unemployment-insurance claims fell nearly 14 percent in Mecklenburg in September from the year before - the 10th straight month of declines - according to the N.C. Employment Security Commission.

Last year, by comparison, the county often saw year-to-year increases of 75 percent or more. The declines in recent months, though, have slowed from earlier this year, the data show.

Unemployment claims data don't paint a complete picture of the jobless situation, as they don't factor in workers ineligible for benefits or others who haven't filed. But they are the latest positive sign as the region inches toward recovery.

Last week, the ESC announced Mecklenburg's unemployment rate fell to 9.6 percent in September - down almost a percentage point from the month before, and matching the national rate for the first time since late 2008.

Still, economists warn that the declining rate might be due more to people dropping out of the search than an improving job market - and the numbers don't account for workers who have accepted part-time jobs or lower-paying work to make ends meet. The Charlotte area's unemployment rate remains much higher than other parts of the state.

In other jobs news:

Mecklenburg Ministries is hosting a job-support ministry lunch on Nov. 16. The interfaith group's event, designed specifically for clergy and leaders of faith-based job-support groups, will feature workshops on how to help the unemployed and a presentation by Rick Kaglic of the Federal Reserve. Space is limited. Details: maria.hanlin@meckmin.org.

DiscoverReady, which provides legal discovery management services for law firms and corporate legal departments, plans to add full-time employees to its technical services and project management teams beginning this year. More hiring for full-time and contract workers will continue next year. The company recently moved into a new office in uptown Charlotte, doubling its space. For more information, visit http://www.discoverready.com/.

The art of the followup

2010-10-20T09:46:00.003-04:00

A leading job search engine reports that it's getting easier in Charlotte - at least compared to other cities - to find a job.

Juju.com's October Job Search Difficulty Index ranked Charlotte 21st out of 50 major cities, up three spots from the last ranking. Charlotte has about 3.1 unemployed workers per job opening.

The index calculates the difficulty of finding a job in U.S. cities by dividing the number of unemployed workers by the number of jobs in Juju's online index, which come from employer career portals, recruiter websites and online job boards. Washington, D.C., remains the easiest place to find a job, the report found.

Despite the improvement in Charlotte, it remains more important than ever to stand out during the job search. And according to one recruiting firm, most applicants are failing.

Robyn Crigger of OI Partners-Compass Career Management Solutions in Charlotte said job-seekers are not being proactive and assertive enough in following up after their interviews.

"People who are most persistent in following up are demonstrating leadership, and that is one reason they finally get offers," she said.

So what's the best way to do that - especially as the hiring process stretches longer and longer? Crigger recommends a few tactics:

Spell it out beforehand: Ask during the interview about the next steps and when and how it would be appropriate for you to follow up.
Show initiative: Send a thank-you letter or e-mail within 24 hours. Make sure you thank each person you saw who might have a say in the decision.
Personalize each followup: Focus on the topic you discussed with that person. Avoid form letters.
Follow up by phone: Call the hiring manager within five days to reaffirm your interest. If the company is still interviewing, ask when it would be appropriate to call back. After a week to 10 days, follow up with an e-mail, and try to keep in touch with the company every week to 12 days after that.
Set yourself apart: Write an article for a trade publication or speak at a conference. Then update the hiring manager on how this relates to the job for which you interviewed. Or send the hiring manager a link to an interesting article related to challenges or projects discussed during the interview. Reinforce the value you could bring to the team.
Give them a chance to counter-offer: If you receive another offer but still want to work for the company, call or e-mail the hiring manager. Say his company is your first choice and give him a short timeline (one to two days) to make an offer.

Job-seekers, have any of these tips worked for you? Or do you have any other advice on the followup?

Workers but no jobs - or vice versa?

2010-10-14T09:50:00.002-04:00

There's a debate brewing among some economists and trend-watchers about whether to blame the inflated jobless rate on a lack of workers to fill available jobs or simply a lack of hiring.

N.C. economist John Quinterno argues that there's no evidence to back up the idea that structural unemployment - a supply shortage where jobs exist but workers aren't available to fill them, because they lack the skills or live in the wrong place - is the problem. Instead, he said, the joblessness is cyclical. Employers aren't hiring.

While structural changes have occurred in the N.C. economy in the past, particularly as traditional industries declined in rural areas and new ones grew in cities, the recession that started in December 2007 is "very much a cyclical one," he said.

"Put differently, employer demand for labor has collapsed due to drops in demand for goods and services."

Quinterno cites the fact that employment has fallen in most major industries, not just a few, and that wages have stayed flat or declined, rather than rising in some sectors to attract scarce workers. Plus, the latest data show there were far more unemployed workers than job openings in most major industries in August, he said.

The Economic Policy Institute, a Washington, D.C., think tank, agreed in a report last month: "Unemployment is high because there simply are not enough jobs," it said.

It's an important question, because it can drive economic policy. If the problem is structural, for instance, the burden falls to the worker to seek further education or new skills. If it's cyclical, that means the demand is weak for goods and services across the economy, and that's where fiscal and monetary policies can come into play, economists say.

Either way, it's important to get people back to work as quickly as possible, Quinterno said. Many have been unemployed for a year or more, meaning their skills - as well as their confidence and competitive edge - are deteriorating.

"A failure to address cyclical unemployment increases the odds that cyclical unemployment will curdle into structural unemployment," he said. "The longer people are jobless, the less likely they are to return to work."

Redefining "economy"?

2010-10-07T11:36:00.003-04:00

When we talk about "the economy," we are usually referring to GDP, a measure of overall economic output. But is that really the best gauge of how people feel?

Probably not, economist Steve Landefeld said at the business journalism workshop I attended last week. After all, the recession ended in summer 2009, as GDP, or gross domestic product, began to grow. But as we all know, elevated unemployment persists, consumers remain hesitant to spend, and people around the country still feel pretty lousy about their economic condition.

Landefeld, director of the U.S. Bureau of Economic Analysis, said the financial crisis has prompted questions of whether we should measure the economy differently. Maybe the government should track community values. Or happiness.

Happiness is too subjective, and a graph of people's happiness tends to stay flat, regardless of the situation, Landefeld said. But there are better ways to sum up the nation's economic mood, such as tracking progress (among households, regions and businesses) and sustainability.

Adjusting GDP to account for the cost of living in different places, transfer payments such as unemployment and per-capita growth would get you closer to how people actually feel, he said.

Housing and personal income are good measures, too. Savings. Debt. Those things won't provide a comprehensive measure of consumers' happiness, but they can give economists - and the rest of us - a better idea of how people feel and how likely that feeling is to last, Landefeld said.

The discussion is relevant for the Charlotte area: Even when positive economic news emerges, people are quick to point out that, in so many ways, they're still feeling the pain.

So what do you think? Is there a better way to measure "the economy"? What needs to be included, and what should be left out?

Economist predicts long recovery

2010-10-04T14:58:00.004-04:00

I was in New York last week for a workshop on the economic recovery, and the mood among many of the presenters was uneasy, to say the least. I'll post more highlights in coming days, but I wanted to share some thoughts from economist Joseph Stiglitz, who addressed the conference crowd Thursday evening.

Stiglitz, a professor at Columbia University and former White House adviser, received the 2001 Nobel Memorial Prize in economics. And as others at the seminar noted, he's about a zero on a one-to-10 scale of economic optimism.

He told the crowd the recession is over, technically, but the economy isn't growing fast enough to create jobs. Unemployment remains at record levels, and more than 40 percent of the jobless have been out of work more than six months - meaning they're likely to make less money when they do find a job, he said.

Here are some of Stiglitz' other comments:

On the housing market: The number of foreclosures is on track to rise this year, and one in four homeowners is underwater. "It's getting worse, not better," he said. "The home used to be an asset; now it's a liability."
On exports: President Obama has cited exports as a source of growth, but Stiglitz said it could become more difficult to export. The country's biggest trading partners are other advanced countries - and Europe is weak and getting weaker, he said.
On the recovery: Stiglitz favors a second stimulus - but one that's done correctly. With its tax cuts, the last stimulus encouraged many consumers to pay off debt, not spend. He said it's important to invest in projects that will generate high returns in the long run, such as technology. And Stiglitz would designate part of the money for state and local governments to help avoid teacher layoffs and invest in training programs for the unemployed.
On the tension in today's political climate: "You can't get the reasonable compromises that would emerge from more civil discussion," he said. "I don't think we've seen the real cost yet."
And finally, on the silver lining: The economy won't recover anytime soon, so the country will have all the time it needs to plan for better times.

Event offers advice, support for small businesses

2010-09-28T14:02:00.003-04:00

Entrepreneurs flocked to a southwest Charlotte conference room this morning for advice on starting a business – and keeping one afloat – in one of the toughest economic climates in decades.

The small-business seminar, sponsored by the SCORE mentoring organization and American Express’ small-business arm, featured one-on-one counseling, workshops on marketing and social media and a call from Mayor Anthony Foxx to lead the charge back to economic health.

“You’re on the front lines of the war that we’re fighting right now to get people back to work,” Foxx told the crowd of about 70 business owners at The Employers Association. “I think government is not going to be the solution to the jobs crisis. … Really, the private sector is where the action is.”

The event, part of a series of seminars across the country, was meant to help small-business owners understand the resources available and help them with everything from drafting a business plan to developing new marketing strategies.

Entrepreneurs weighed in this morning on the business climate, citing continued challenges, such as access to credit and still-shaky economic conditions, which have stifled consumer spending.

Yet many of them remained optimistic - even calling it a "great time" to start a business.

What do you think? What does it take to launch a successful small business - and how important are those companies to the economic recovery?

Hot new sector: defense?

2010-09-27T10:59:00.004-04:00

The energy sector gets a lot of press these days as local leaders talk about diversifying Charlotte's economy. But economic development organizations are working to ramp up other fields, too: The Charlotte Regional Partnership announced plans this week, for instance, for a forum focusing on defense.

More than $3.7 billion in defense contracts have been awarded to more than 1,000 companies in the region since 2000, partnership chief executive Ronnie Bryant said today in a weekly memo.

The November event will feature a panel of industry experts discussing what makes the Charlotte region attractive for defense and security companies and what challenges it faces.

The forum will be held from 3-4:30 p.m. Nov. 1 at Johnson & Wales University. It's free for Charlotte Regional Partnership investors and $25 for the general public. Register here.

It's an interesting question: Will emerging sectors such as defense thrive? What will it take to build them up across the region?

In other jobs news:

Online photo-sharing company Shutterfly will hire 500 seasonal employees in Charlotte to help produce and ship photo books and cards from Halloween through the winter holidays. The California company employs about 160 workers at its Charlotte facility and hires seasonal employees each October. To apply for a seasonal job, visit www.corestaff.com; those interested in full-time positions at the Charlotte facility can apply here: ncjobs@shutterfly.com.

Job search engine Indeed.com analyzed millions of job postings from January through June and found that certain professional traits appear commonly on employers' wish lists. To stand out from the crowd, the site recommends playing up the following in interviews, on resumes and during networking events: leadership, problem-solving, motivation, efficiency, teamwork, reliability and more. To see the full list, click here.

Fewer layoffs, higher income

2010-09-20T15:57:00.003-04:00

New government data show layoffs continue to slow in the Charlotte region.

The number of initial unemployment-insurance claims fell about 4 percent in Mecklenburg from August 2009 to August 2010 - the ninth straight month of declines - according to the N.C. Employment Security Commission.

Last year, by comparison, the county often saw year-over-year increases of 75 percent or more. The August drop is slower, though, than the last few months, which saw decreases of about 20 percent each.

Initial unemployment claims fell in most surrounding counties, too, dropping nearly 30 percent in Cabarrus County. But claims rose slightly in Gaston County, up 1.2 percent over August 2009, the ESC found.

Those figures, which track the pace of layoffs, show that the local job market continues to stabilize. But other economic indicators have shown a downward slide again in recent months, and many companies remain hesitant to begin hiring.

On the personal-income front, the U.S. Bureau of Economic Analysis reported today that state personal income grew an average of 1 percent in the second quarter of this year, up slightly from the first quarter.

North Carolina exceeded that rate, with personal income growing 1.2 percent in the second quarter. That's down from 1.8 percent in the first quarter this year, but good enough to place the state 10th in the U.S., the BEA found.

Better prospects for next year's grads?

2010-09-13T15:49:00.003-04:00

Good news for college seniors: The job market might be a little less menacing, come graduation.

The National Association of Colleges and Employers found in a recent survey that employers expect to hire 13.5 percent more new college graduates from the class of 2011 than they hired the year before.

About half of those polled said they plan to increase their hiring, while 40 percent plan to maintain their hiring levels, bringing on about the same number of new grads this year. About 12 percent of employers surveyed anticipate cutting college hiring further, the organization found.

Still, times are tough for many recent grads. Another NACE study this month found that the average starting salary for the class of 2010 is down about 1 percent - to $48,288 - compared with the previous year's starting offers.

Business-school grads are faring best, with their salaries largely unchanged, the group found. The average starting offer to liberal-arts graduates dipped 3 percent, while offers to psychology majors fell almost 7 percent.

Government data also paint a mixed picture for new college grads. In 2009, the unemployment rate for workers with college degrees was just 4.6 percent, compared to nearly 15 percent for those without a high school diploma, according to the U.S. Bureau of Labor Statistics.

But the BLS also found an unemployment rate of 14.7 percent last year for workers ages 20 to 24, a group that includes new college grads. That's compared to 8.3 percent for those in the 25- to 34-year-old age range.

So, for you new grads and college seniors, what have you experienced so far in the job search? And employers, do you plan to hire more recent graduates this year?

Help for job-seekers, business owners

2010-09-08T11:53:00.002-04:00

National and local organizations continue their efforts to boost the economy with new programs to help job-seekers - and the business owners with potential to hire them.

The U.S. Department of Labor announced this week it has created a new Web portal to match job-seekers with openings in their area. The online tool, mySkillsmyFuture, allows users to find local job postings, training and education opportunities, salary information and more.

The site features a comparison chart of skill gaps from one job to another, details about transferable skills and links to local training programs that can help fill skill and knowledge gaps. The job listings come from a national database and are updated daily.

Locally, the Charlotte chapter of SCORE, a nonprofit that counsels small-business owners, has teamed up with American Express to host a free speed coaching event on Sept. 28.

The workshop takes place from 8 a.m. to 1 p.m. at The Employers Association, 3020 W. Arrowood Road. SCORE counselors, working or retired business executives, will offer advice to business owners and aspiring entrepreneurs.

Mayor Anthony Foxx, recently named chairman of the U.S. Conference of Mayors small-business task force, is scheduled to give the keynote address.

The event will also feature seminars on successful sales techniques and social media. To RSVP, visit www.CharlotteSCORE.org and click on "Seminar Schedules" and "Small Business Speed Coaching."

Small firms adding jobs

2010-09-03T09:33:00.004-04:00

On the heels of another gloomy jobs report this morning comes some bright news: Small businesses continue to add jobs in North Carolina, according to a new study from a payroll software provider.

Intuit Inc. reports that small-business employment in the state grew 0.4 percent last month over July, slightly faster than the national average of 0.1 percent.

The Small Business Employment Index, a monthly look at small-business job trends, found that companies across the country weren't adding jobs as quickly as January through April - but that hours worked and compensation remained steady. The index is based on figures from the country's smallest businesses that use Intuit Online Payroll.

"As with other economic indicators, these small-business figures show signs that the recovery is not progressing as fast as we would like," economist Susan Woodward, who worked with Intuit to create the index, said in a statement this week. "... Small businesses generally lead big businesses in hiring at the end of the recession, so we would have hoped to see more employment growth in this sector now."

The August growth translates to about 26,000 new jobs nationwide, the same number of jobs added in July. Since the growth trend began in October 2009, small businesses have added 340,000 new jobs, Intuit found.

But the employment picture, overall, remains bleak. The national jobless rate climbed to 9.6 percent in August from 9.5 percent the month before, though private employers added jobs, data released today show. Some workers and experts say they're counting on small businesses to drive the job-market rebound.

Has that been the case so far in the Charlotte area? Small-business owners, are you hiring yet? And job-seekers, have you had better luck with smaller firms than larger companies?

Recovery faltering?

2010-08-27T09:51:00.002-04:00

Lately, experts and indicators have suggested the economic recovery is not as stable as many of us thought. A few new reports seem to reach a similar consensus: The recovery is progressing more slowly than expected, but the economy continues to grow.

Real gross domestic product - the output of goods and services produced by labor and property in the U.S. - grew 1.6 percent in the second quarter, according to the U.S. Bureau of Economic Analysis.

That's down from an estimate last month of 2.4 percent growth. In the first quarter of 2010, real GDP increased 3.7 percent.

The BEA attributes the continued growth to personal consumption expenditures, nonresidential investment, exports, government spending and other sources.

As for the second-quarter slowdown, the bureau points to factors such as declining private inventory investment and a sharp increase in imports, which are subtracted from the GDP.

In Carolinas economy news, the Federal Reserve said today that business activity across the states declined in August. The Fed's latest Carolinas Survey of Business Activity found that the company-specific activity index fell to -7 from zero in July - the first dip into negative territory since November 2009. A negative reading indicates that more companies polled reported a slowdown in activity than those that reported a pickup.

The survey also reported a negative employment index, meaning a recent trend of new hiring has stalled. But Carolinas businesses' expectations about future hiring remained in positive territory, the Fed found.

So what's it all mean? Likely that we're in for a rough rest of the year. On the bright side, local economists predict employment to continue to grow, if slowly, and the recovery to pick up speed next spring.

Is a good job worth a long commute?

2010-08-24T13:32:00.012-04:00

Unemployment remains inflated and the economic recovery remains shaky - so job-seekers can't be too picky, right?

But a recent survey found one deal breaker, at least, for some Charlotte workers: a long commute. The Hartford 2010 Drivability Survey found that almost half of Charlotte residents polled said they would turn down a job that required them to commute 30 to 45 minutes each way.

The survey was meant to highlight what makes U.S. cities drivable. It studied everything from how to improve local driving conditions to how many commuters talk on their cell phones while driving (Charlotte led The Hartford's group of seven cities on this one; almost 80 percent of those surveyed said they talk on the phone while driving).

Overall, Charlotte residents said the city was drivable - but that the daily commute remains a time-waster and source of frustration.

About three-fourths of those polled said they would at least consider a job offer that involved a 30-minute or longer commute. But just one in 10 would be willing to commute as long as necessary to accept a "very interesting" new job.

I've heard from plenty of job-seekers who refuse to settle for work for which they're overqualified or underpaid - and just as many who would jump at the chance for any steady paycheck. The commute issue is a new one.

So what do you think? What are your job-search deal breakers?

Need a job? Try these sectors

2010-08-20T10:26:00.002-04:00

We reported last month that transportation jobs are on the rise - an early sign that firms are ramping up inventories, consumers are buying again and other employers might soon begin to hire.

But where, exactly, are those jobs?

Job search engine Indeed found in its latest Industry Employment Trends report that transportation job postings more than doubled since July 2009. In a study released this week, Indeed took a closer look at where to find the most openings.

The fastest-growing job titles within the transportation field are: materials management, transportation management, delivery driver, CDL driver, and warehouse work, the company found.

Indeed also found that the health care sector continued to have the most jobs available, posting more openings this year than any other industry. The fastest-growing careers there are: physical therapist, patient care assistant, certified nurse assistant, speech language pathologist and laboratory assistant.

The study comes on the heels of today's unemployment report, which showed that the N.C. jobless rate fell to 9.8 percent in July from 10 percent the month before. But the total number of jobs fell by 29,800, with the government accounting for the bulk of the losses.

The largest month-to-month increase came from the trade, transportation and utilities sector, which added 2,800 jobs.

For those of you navigating the job market: What sectors are you targeting? Have you found more opportunities in transportation and health care?

Longterm outlook is promising, economists say

2010-08-17T11:39:00.005-04:00

Two recent reports show continued economic challenges for the Charlotte region. But they also express optimism for the future, predicting above-average rates of job and population growth.

The Charlotte Regional Partnership's monthly By the Numbers report found that the 16-county Charlotte area's unemployment rate was 11.6 percent in June, down from 11.7 percent in May. That's still significantly higher than the 9.5 percent national average, though it marks some progress from earlier in the downturn.

The report also found the region's labor force has declined over the last year, meaning discouraged workers might still be dropping out of the job search. And initial unemployment claims, which track the pace of layoffs, climbed 21 percent in June from the month before across the region, the partnership report said.

The good news: Charlotte's labor market ranks second in the state behind the Raleigh area and second among similar cities in the Southeast, behind Nashville, the partnership found.

The report also showed that companies continue to move to and expand in the region. Despite continued job losses this summer, new and expanding companies added 1,325 jobs in June, the partnership said.

Another report this week painted a promising picture of Charlotte's future. Real estate economist Peter Compton of CoStar Group, a commercial real estate analysis company, wrote that other economists' dismal views of the area "are overblown and not entirely accurate."

Two years after the banking crisis, for example, Wells Fargo employs more Charlotteans than Wachovia did at the peak of the market, Compton said. And the job market is becoming more diverse, with an emerging energy sector led by Duke Energy, Siemens and other firms.

Compton projects 3.4 percent employment growth in Charlotte this year, above the national average.

And that, combined with low living costs and appealing weather will continue to draw people to the area, he said. The report predicts 2.1 percent population growth per year for the next five years, compared to 1 percent growth across the U.S.

Visitors up, room rates down

2010-08-11T11:53:00.006-04:00

Charlotte's tourism business continued a steady recovery in June, with occupancy rates edging above similar cities and the U.S. average, the Charlotte Regional Visitors Authority reported Wednesday.

But hotel room prices remained weak, dropping below last year's levels and coming up short, compared with other markets.

The results from Smith Travel Research, reported during the CRVA's monthly board meeting, showed that the Charlotte hotel market continued its streak of six consecutive months of year-to-year occupancy growth, which hasn't happened since early 2007.

Occupancy was about 61 percent in June, up 8.6 percent from the year before. Year to date, occupancy was about 58 percent, compared to about 53 percent the year before.

June also marked the third straight month the market has topped 60 percent occupancy - the first time that's happened since spring and summer of 2008.

So far this year, hotel occupancy is up almost 10 percent locally, compared to 4.4 percent growth nationwide. Average occupancy for the U.S. was about 56 percent this year through June.

Despite the apparent recovery in rooms booked, though, hotel rates remain below average. The Charlotte area's daily room rate was about $77 in June, down from $80 the year before. Year to date, room rates are about $79, compared to $82 last year - a drop of 3.8 percent.

Rates in the U.S., by comparison, have dropped about 2 percent so far this year from the year before, with the average daily rate running about $97. Rates in markets similar to Charlotte - a set including Tampa, Atlanta and Minneapolis - are about $88, the CRVA reported.

The CRVA is encouraged about the future, officials said Wednesday. The number of room nights booked is already above target for several years out, thanks to conventions, trade shows and other activities. The CRVA estimates it's at 101 percent of its room-night pace - above the 97 percent average for its peer group, which includes Baltimore, Pittsburgh and other cities.

Personal income drops in Charlotte region

2010-08-10T10:50:00.003-04:00

The recession has taken a toll on personal income in the Charlotte area, new estimates from the U.S. Bureau of Economic Analysis show.

But what's most interesting about this week's report is how the region stacks up against other parts of the state.

Per-capita income fell to $37,372 in 2009 in the Charlotte-Gastonia-Rock Hill, S.C., metropolitan area, a decrease of nearly 6 percent from the year before. Total income declined 3.5 percent from 2008, the BEA found.

Personal income fell last year in most of the nation's metropolitan areas, decreasing almost 2 percent, on average, after climbing about 3 percent in 2008, the report found.

The Charlotte region experienced bigger losses, though, than other N.C. cities, the BEA data show. In Durham-Chapel Hill, for instance, per-capita income fell 2 percent last year to $40,116, while total income remained mostly flat.

The state's military hubs saw some of the most dramatic income growth in the nation. Fayetteville's per-capita income grew almost 5 percent in 2009 to $40,917, while total income jumped nearly 7 percent.

In Jacksonville, per-capita income grew almost 12 percent to $44,664 - almost 20 percent higher than income in the Charlotte region.

Across the country, metropolitan areas with a large concentration of government jobs performed better, on average, than those that relied on private-sector pay, the BEA found. That explains, in part, why the Charlotte area - typically regarded as one of the state's wealthier regions - seemed pummeled harder than other areas.

What do you think about the results? What will it take to jump-start income growth in the Charlotte area?

Is it really over?

2010-08-06T10:19:00.004-04:00

Economists have said for months that the recession is over, but the National Bureau of Economic Research has not officially announced the end. Some questions remain, too - namely, how can a recession be over if elevated unemployment and sagging wages persist?

There's always a lag in identifying business cycle turning points, according to the recent Federal Reserve brief, "When Did the Recession End?" The NBER did not announce the start of the recession, December 2007, until a year later, for instance, it says. And it took almost two years to declare the end of the 2001 recession.

That's because the NBER tries to make sure an apparent change is a true trend, rather than a temporary deviation.

The Fed examined several data sets - including GDP, manufacturing and wholesale retail sales and personal income - to come up with its own ending date, likely around the middle of 2009, its report said.

It notes that the NBER's recession dating criteria place more emphasis on production than labor-market strength, a lagging indicator - meaning a recession can technically be over, even if the jobs picture remains bleak. After all, the economy can expand even if employment stagnates, as long as productivity rises.

In the 2001 recession, for instance, employment bottomed out a full 21 months after the recession ended - though employment in the latest recession has appeared to recover faster, the Fed found.

When the official announcement comes, it's unlikely to shift economic policy or business activity, given the lag, the Fed said. But the date will be useful in comparing economic conditions and policies against past recessions - and can guide the timing of future policy interventions that treat recessions, the Fed report said.

A few other notes on recession dating:

There were no official announcements until 1979. The NBER committee was formed the year before to analyze and chronicle data, using monthly and quarterly indicators from government agencies.
Announcements typically lag the actual turn in the economy by about a year. Since its inception, the committee has never revised the identified recession dates.
The committee defines a recession as "a decline in economic activity that is both significant and spread widely across the economy." This is broad, because business cycles behave differently. For example, the popular rule of "two or more consecutive quarters of negative GDP growth" didn't hold true in 2001.

So what do you think? When did the recession really end - and when will employment and wages catch up?

Energy leaders: Jobs available

2010-08-03T17:15:00.003-04:00

Energy company leaders anticipate a wave of hiring - from a variety of industries and skill levels - as the economy recovers, they said today during a career conference at CPCC.

About 270 job-seekers and energy sector supporters gathered at the Energy Careers for a Bright Future event, a daylong seminar meant to inform participants about energy-sector careers and the training they need to pursue them.

The event, part of the Charlotte Regional Partnership's New Energy Capital initiative, featured group discussions and representatives from companies such as Duke Energy, The Shaw Group Inc. and Celgard.

Company officials said they expect to hire a number of workers as their employees retire and their companies expand. Those workers will come from a range of backgrounds and sectors, from manufacturing to financial services.

Sarah Dollander of talent management firm Lee Hecht Harrison, who moderated one of the panels today, said job-seekers are increasingly looking for openings in the energy field. Here are some of her tips for getting a foot in the door:

Find someone who works in the industry and pick his brain. Look for networking opportunities and contacts at other companies.
Visit a community college, where you can learn about the skills and training you'll need, as well as the jobs that are available.
Focus on your transferable skills - maybe you worked as a project manager and want to do the same thing for an energy company. Sell those skills on your resume and in your cover letters.

Mixed opinions on economic recovery

2010-08-02T09:27:00.005-04:00

A pair of reports released recently paint a bleaker picture of the local economy: A recovery still chugging along, but more slowly. And business owners who remain optimistic - but more cautious - about the future.

The Federal Reserve's July Carolinas Survey of Business Activity found that business activity was flat in July. Its index of current conditions fell to zero - indicating an equal number of positive and negative responses - while perceptions of national and regional conditions dropped into negative territory.

Three measures of businesses' expectations fell last month, too, though each remained in positive territory, suggesting that businesses still expect modest improvement in the coming months, the Fed found.

Among other findings: A measure of sales revenue and shipments declined into negative territory in July, a sharp turnaround from the month before. But the labor demand index increased from June, meaning more firms had hired workers - surprising "given the deterioration in current business sentiment," the report said.

The Carolinas Survey came a day after the Fed's July Beige Book found economic activity in the Richmond district - which includes the Carolinas - either mixed or modestly improving since the month before.

Manufacturing remained a bright spot, though the pace of activity has slowed since a few months ago, the report found. Bank lending to businesses improved moderately, while home mortgage lending varied.

Residential real estate contacts described activity as mixed, and commercial real estate agents reported generally softer market conditions. Retailers said big-ticket purchases and shopper traffic plummeted, and merchants increasingly cut jobs.

But on a positive note, local labor markets posted modest gains, with several firms saying they added jobs for at least the third straight month. Temp agencies reported slow, but steady increases in hiring, especially in manufacturing.

Learn about energy jobs

2010-07-27T10:06:00.003-04:00

Economic-development leaders often talk about the Charlotte area as a new energy hub - and say energy jobs will be a bright spot in the economic recovery.

Interested in finding one? Job-seekers can learn about energy careers - and the skills they need to land one - at the Energy Careers for a Bright Future event, held Aug. 3 at CPCC's Harris Conference Center.

The program, part of the Charlotte Regional Partnership's New Energy Capital initiative, takes place from 8 a.m. to 4 p.m. and features seminars and representatives from local energy companies, colleges and employment groups.

Participants will learn about available energy jobs, the skills and training they need and growth projections for the future. The event costs $25 and includes lunch.

To register, call 704-330-2722 or visit www.cpcc.edu/energy/event.

Fewer fees for ESC debit cards

2010-07-07T14:06:00.005-04:00

Good news for job-seekers who access their unemployment benefits via debit card: most fees associated with the cards have been eliminated.

The N.C. Employment Security Commission announced today that it reworked its contract for the cards, negotiating to remove many of the fees.

"This new contract will make more money available for our customers to meet their daily needs and will help prevent frustrating situations - for both the debit card holders and ESC staff, who got calls in the past from customers unhappy about the fee situation," ESC Chairman Lynn Holmes said in a statement.

Among the changes, which took effect July 1: Customers will have unlimited free withdrawals from in-network ATMs - more than 600 Wells Fargo or Wachovia ATMs statewide. Previously, two withdrawals were free each month, and the transactions cost $1.50 each after that.

In addition, balance inquiries at in-network ATMs are now free and unlimited, compared to 50 cents per inquiry in the past. Inquiries by phone are free, too, compared to 35 cents in the past after the fifth inquiry.

And customers are allowed one free replacement card per year, compared to $5 each in the past.

New customer-service features are also part of the new contract, the ESC said. Effective Sept. 1, customers will receive phone, e-mail or text message alerts when their balance falls below a pre-set amount. Customers can also be notified when deposits are made.

The debit card program is a partnership between the ESC, Affiliated Computer Services and Wells Fargo. The agency began issuing debit cards instead of checks for unemployed workers who did not have a bank account for direct deposits in 2007.

For more information about the debit cards, visit http://www.ncesc.com/.

New help for the unemployed

2010-07-02T09:41:00.002-04:00

The national unemployment rate fell to 9.5 percent in June from 9.7 percent the month before, the federal government announced today. But there are still thousands of people out of work in the Charlotte area and across the country, and nearly half have been unemployed for more than six months.

The latest employment growth is "nowhere near fast enough to put this country's 15.2 million unemployed workers back to work," the Economic Policy Institute, a Washington, D.C., think tank, said in a news release today.

In an effort to help locally, there's a new resource for job-seekers in Davidson, county officials announced. The Charlotte-Mecklenburg Workforce Development Board has joined the N.C. Department of Commerce and local faith-based and community groups to launch a SHARE Network Access Point.

The center - which will provide labor market research, unemployment registration, resume assistance and help with the job search - is located at the Davidson Housing Coalition, 220 Sloan St., Suite A. Its resources are available to the public on a self-serve basis, but staff will be available to help a few days a week.

The SHARE, or Sharing How Access to Resources Empowers, program is designed to help local workers find job-search resources in their own neighborhoods. It provides a comprehensive job resource database connecting federal, state, faith-based and community resources in one spot.

And another tidbit, for unemployed veterans: Military-to-civilian recruiting firm RecruitMilitary is hosting a job fair July 22 at the Speedway Club at Charlotte Motor Speedway. More than 300 veterans are expected to attend the event, which takes place from 11 a.m. to 3 p.m.

RecruitMilitary expects more than 25 employers and educational institutions, all looking for Charlotte-area veterans, to attend, including Aflac, Bank of America, CPI Security Systems and Wells Fargo. For more information, visit www.recruitmilitary.com.

Report: Recovery continues - but at a slower pace

2010-06-29T09:57:00.004-04:00

Things are still looking up for local businesses - though not as much as last month, according to a new report from the Federal Reserve.

The monthly Carolinas Survey of Business Activity found that activity across the Carolinas continued to improve in June, but at a slower pace than in May.

The Fed's measures of current business conditions declined this month, though they remained in positive territory, meaning more respondents are seeing an increase in business activity than a decrease, the report said. In May, by comparison, those measures increased to their highest levels since the recession began.

Companies also reported increasing revenues and shipments, though those numbers were also down from the month before, the Fed found.

"While the declines in the indexes show that respondents are less exuberant than they were in May, on balance more firms are seeing increases ... and expect further increases in the next six months," the report said.

As for the big question - hiring: The companies surveyed reported less of a demand for labor in June than in May, but the Fed still found the number of firms hiring was increasing. The same was true for the number of hours worked, with that index declining from May to June but still in positive territory.

"It appears that rising revenues have encouraged firms to add more employees and to work existing employees more hours, with expectations for more of the same in the coming six months," the Fed said.

So the news from this survey, a real-time report of business conditions in the Carolinas, is moderately optimistic. But as we saw with last week's regional unemployment report, nearly 48,000 people remain out of work in Mecklenburg County alone, and the jobless rates for Mecklenburg and the Charlotte region remain in the double digits.

So what do you think? Is the outlook improving for your business or job search so far this summer?

Avoid financial fraud

2010-06-24T11:12:00.004-04:00

Financial fraud cases have become more common in recent years, due to the ease of Internet investing and a recession that's left investors looking for quick money and scammers looking to capitalize on these tough times.

A handful of such schemes have already collapsed in the Charlotte area, and experts say to be on the lookout for more.

The latest warning, distributed this week from the N.C. Secretary of State's office, involves the Gulf oil spill - which has sparked scams promising financial gains from investing in companies that claim to be part of the cleanup.

While some companies touting their role might be legitimate, others could be bogus, state and federal authorities say. The U.S. Securities and Exchange Commission suspended trading last month of shares of a California company over the issue, for instance.

Officials offer these tips to avoid financial fraud:

Investigate before you invest. Never rely solely on information contained in an unsolicited fax, e-mail, text or other message.
Find out who sent the message. Many companies and people who promote stocks are paid to do so, so check the fine print for any statements indicating payments for issuing a report or message.

Find out where the stock trades. Most unsolicited recommendations involve stocks quoted on the OTC Bulletin Board or Pink Sheets, which do not impose minimum quality standards. Many of these securities trade infrequently, making it difficult to sell your shares. When they do trade, they might move up or down in price rapidly.

Read a company's SEC filings. But be aware that registering securities and filing reports does not automatically mean the company is a good investment.
Use your resources. Call the state's Securities Division at 1-800-688-4507 to check the registration of any promoter and investment opportunity before investing.

A representative from the Securities Division will deliver a free anti-fraud presentation in Charlotte Friday. The event will take place at 11 a.m. at the Levine Jewish Community Center, 5007 Providence Road. For details, call 704-366-5007.

New layoff stats, new tool for unemployed

2010-06-21T14:33:00.004-04:00

New government figures show layoffs continue to slow in the Charlotte region, another sign that the employment picture - for the people who already have jobs, at least - continues to brighten.

The number of initial unemployment-insurance claims fell 19.3 percent in Mecklenburg from May 2009 to May 2010 - the sixth straight month of declines - according to the N.C. Employment Security Commission.

Last year, by comparison, the county often saw year-to-year increases of 75 percent or more. The number of N.C. residents receiving regular unemployment benefits also fell, to 17,500 from 20,400 - a 14 percent drop.

And in surrounding counties, there were even bigger drops - in Lincoln County, for instance, the number of initial claims fell 38 percent in May, while the number of job-seekers receiving benefits fell almost 50 percent over the year before.

These figures, which track the pace of layoffs, show the recovery continues for N.C. businesses and their workers. That was further reflected in last week’s unemployment numbers, which showed the state rate dropping to 10.3 percent in May from 10.8 percent the month before. Yet it’s important to note that thousands remain out of work - with few prospects - and that the jobless rate could rise this summer as more people re-enter the search and temporary jobs, such as Census work, begin to disappear.

In other news, there’s a new tool aimed at helping unemployed and low-income N.C. residents in the job search. Assurance Wireless, a service made available through Virgin Mobile USA, provides a free cell phone and 200 free minutes per month to eligible customers. The goal: help job-seekers arrange interviews and receive calls from potential employers.

Customers are eligible if they participate in programs such as Medicaid or public housing assistance, or if their household income is below federal poverty guidelines. There are no bills, activation fees or longterm contracts. For more information or to apply, visit www.assurancewireless.com.

Too old to work?

2010-06-17T10:23:00.003-04:00

A discrimination lawsuit settled this week raises an interesting question about age and the job market.

Charlotte scrap metal processor Southern Metals Co. agreed to settle for $10,000 after the U.S. Equal Employment Opportunity Commission sued, alleging the company unlawfully refused to hire a 76-year-old man for a mechanic job because of his age.

According to the lawsuit, the applicant was turned away and told the company had decided to hire someone "younger." Later, a person who was "substantially younger and less qualified" was hired for the job, the EEOC said.

"Employers must remember that older applicants are a valuable asset to the workforce, and they cannot be denied consideration for jobs because of their age," EEOC attorney Lynette Barnes said in a news release this week.

But Charlotte attorney Bryan Adams, who represented Southern Metals, said the company didn't hire the applicant because he was not qualified - and that officials there didn't even know how old he was at the time.

"The decision not to hire him was completely appropriate," he said, adding that the company felt confident it would have prevailed in court but chose to settle for economic reasons. "It had nothing to do with his age."

What's more: His firm has been inundated by discrimination cases lately as layoffs continue and jobs remain scarce, Adams said. Often, jilted workers will bring their case to the EEOC, whether or not discrimination actually occurred, he said.

"They might reflexively believe it's age discrimination, but I think in most cases it's not; they're just not getting the jobs," Adams said.

I've heard a lot about age in recent months. As older workers have lost their jobs, many for the first time, they've encountered a job market full of younger professionals willing to work long hours for less money. Many job-seekers in their 50s and 60s complain they're being passed up, despite advanced degrees and decades of experience, and forced into an early retirement they can't afford.

So what do you think? Is age discrimination rampant in today's job market, or is the job search simply competitive for everyone involved?

Out of town, out of luck?

2010-06-15T09:42:00.003-04:00

I wrote a few months ago about the slowdown in migration to Charlotte, a trend hastened by rising unemployment. But as I pointed out in my story then - and as I continue to hear about now - people are still moving here in search of a better job, more affordable lifestyle and warmer climate.

The latest example: Renee Serusa of Lockport, N.Y., who plans to move to the Charlotte area with her two children as soon as she can land a job. The former medical receptionist has been eyeing the area since she visited a cousin last year for a NASCAR race.

"Everybody was so friendly and so nice," she said. "We kind of all decided we were sick of the winter in New York and wanted to move there."

Serusa has years of experience, most recently as a receptionist at a family practice, and she's looking for something similar. She's also taking classes toward her teaching degree and hopes to one day work as a special education teacher, she said.

But it hasn't been easy to score an interview, much less an offer. Serusa applies regularly on job search boards such as CareerBuilder.com and Indeed.com, scours the classifieds in local newspapers and searches Google for the latest openings.

She's found it difficult to make connections without living in town, though. She's hesitant to book a trip to visit without any interviews lined up, and she said moving here without a job isn't an option, because she needs to support her family.

"It's very nerve-wracking and upsetting," Serusa said. "We're so ready to move."

Still, the economic picture seems brighter in Charlotte than Lockport, which is near Buffalo, she said. And she's quick to offer advice to others in her position: "Be persistent. Just keep looking and keep plugging along."

I know Serusa isn't the only one hoping to land a job here. So, readers, any advice on finding a job from out of town?

Reports: Companies will hire this summer

2010-06-11T10:38:00.006-04:00

As the economy improves, questions about hiring remain: When will companies feel confident enough to add jobs? Where will those jobs come from, and will Charlotte's employment picture ever look the same as it did before the recession?

In many ways, it's too soon to tell. But a series of recent reports from government and private agencies suggest companies are - albeit cautiously - beginning to hire again.

The U.S. Bureau of Labor Statistics, for instance, reported this week that there were 3.1 million job openings nationwide in April, up 2.3 percent from the month before. Since the last trough, in July, the number of openings has climbed by 740,000, the BLS found.

The sectors with the most openings and hires included trade and transportation, professional and business services and leisure and hospitality. In the South, the job opening rate was 2.1 percent, up slightly from earlier this year but below the nearly 3 percent levels in the Northeast and West, the BLS found.

The South's hiring rate was 3.5 percent in April, though, higher than the national average and up slightly from April 2009. Overall, U.S. firms hired 48.8 million workers in the 12 months ending in April and lost 50.2 million, for a net loss of about 1.4 million, the BLS reported.

Meanwhile, a report last week from job search engine Indeed.com found that all 12 industries it tracks added jobs from May 2009 to May 2010 - "the strongest evidence yet of an improving job market," the company said.

It's the first time the company has found positive growth in all areas since launching its Industry Employment Trends report in February 2009.

And this week, a Manpower Inc. survey found Charlotte-area employers expect to hire at a solid pace during the third quarter, particularly in the construction, manufacturing and professional and business services sectors.

Sixteen percent of local companies interviewed plan to hire more workers from July to September, while just 4 percent plan to reduce their payrolls. The region's net employment outlook is 12 percent, compared to 8 percent in the second quarter and -2 percent last year.

So, job-seekers, I’m curious: Are things really looking brighter out there?

Recovery reaching N.C. households, Fed finds

2010-06-09T09:41:00.003-04:00

Economic conditions are improving for N.C. households, a new report shows - a sign that the state's workers and families are finally beginning to feel the recovery.

The Federal Reserve's June Snapshot found that median family income in the Charlotte area this year is about $67,200, up about 1 percent from the year before. That was second to Raleigh-Cary, where the income was about $77,700.

Statewide, there were 6,240 personal bankruptcies in the first quarter, down about 7.2 percent from the quarter before and up just 0.6 percent from the year before. By comparison, the number of U.S. bankruptcies climbed 4.6 percent over the fourth quarter of 2009 and 18.2 percent over the year before.

And the number of N.C. mortgages with payments more than 90 days past due inched down about 0.1 percentage point to 4.1 percent in the first quarter - the first decline since early 2008. However, the subprime delinquency rate edged up 0.1 percentage point to 13.2 percent in the first quarter, the Fed found.

The report found encouraging signs across the Southeast, despite some overall weakening in housing markets.

Firms in the Fed's fifth district added 47,200 jobs in April for a second straight month of payroll gain. Although the district's economy lost 79,400 jobs since April 2009, the year-to-year loss was the smallest since September 2008, the Fed found.

Businesses conditions continued to improve, too, with the manufacturing and service sectors reporting relatively upbeat results, the report found.

Survey: Businesses optimistic

2010-06-02T10:12:00.004-04:00

Businesses in the Charlotte region are feeling better about the economy, with many planning to give pay raises and ramp up hiring by the end of the year, according to a new survey from HR consulting firm The Employers Association.

The association polled 250 companies of various industries, sizes and sites in the Charlotte area for its 2010 Economic Trends Survey, released this week. It found that during the last 1 1/2 years, 45 percent of the companies surveyed reduced pay - but of those, 27 percent plan to eliminate pay freezes this year, while a quarter have reinstated full pay.

The survey also revealed some optimism about hiring. In the past six months, nearly half of respondents have filled open positions, and 47 percent created new jobs. Nearly 60 percent plan to do so by the end of the year, they said.

In addition, almost half of the firms surveyed said they expect business results to be better this year than last. Forty percent expect their results to remain the same, and just 12 percent said 2010 would be worse than 2009.

Compare that to last year, when The Employers Association's survey found companies bracing for a dismal year. That survey found that about 60 percent of local companies expected their 2009 results to be worse than 2008.

So, while this year's results allude to a lingering uncertainty, they seem to mark a vast improvement from 2009 - and another step toward economic recovery.

Fed report: Business conditions improving

2010-05-28T09:45:00.003-04:00

The economic recovery continued to gain traction in May, according to a new report from the Federal Reserve.

The monthly Carolinas Survey of Business Activity, released Thursday, found that business activity continued to solidify, and companies' expectations about the future remained positive.

Three measures of current business conditions increased in May, with each reaching its highest level since the recession began, the survey found. And as business activity increased, companies reported that the general availability of labor fell.

Meanwhile, businesses said their spending and spending expectations had increased, indicating a broader recovery in business spending, the Fed report found.

"Respondents continue to expect business conditions to improve markedly in coming months," the report said.

The businesses surveyed also reported an increasing confidence, thanks to rising demand, climbing sales and revenue. More firms expect sales to increase than those that expect sales to decrease, the Fed found.

The improvement in revenues was accompanied by an increase in demand for workers - a sign of stronger hiring in May, the Fed said. Yet businesses said margins remained under pressure, with the gap between prices paid and prices received "widening considerably."

Overall, the Fed report - a kind of real-time snapshot of the local economy - shows promising news for the Carolinas. We'll see if that translates to lower unemployment when the local numbers are released today.

Is your career right for you?

2010-05-25T11:34:00.002-04:00

You should quit your job if you consistently have to drag yourself out of bed to get there. If your sense of dread makes you physically ill. If you don’t feel any sense of accomplishment.

That’s according to career coach Mark Burch, who helps a growing number of Charlotte-area workers find not only new jobs, but jobs that align with their skills, abilities and passions - jobs they actually like.

“That’s important,” he said. “It’s a significant portion of your life. If you’re doing work you hate, there’s obviously a disconnect there.”

Burch is a former IT project manager, with years of experience in the corporate world, who was laid off the day after a positive review. He moved to Charlotte from Phoenix, Ariz., six years ago and looked for a new job for a while before stumbling upon a book called "48 Days to the Work You Love" and becoming a career coach.

As the recession deepened, more white-collar workers found themselves out of work and at a crossroads: Find another job in the same field, or use the layoff as an opportunity to do something they’d always loved.

“Folks are having more time to reflect and saying, ‘What am I putting all this in for? I’m getting nothing out of it,'” Burch said.

Burch typically works with a client through five 90-minute sessions, spread over about 10 weeks, though he also holds shorter seminars. Most of the work is introspection - helping clients realize who they are, what their dreams are and where their talents lie. They develop goals and life plans, and they perfect their resumes, interview techniques and strategies to edge out the competition.

Some clients are longtime professionals who want to start their own business. Others are young workers who can’t seem to find a job they like. Some fail, ultimately, too afraid to switch careers - “comfortable misery,” Burch said. But many rave that they’ve found their calling.

Burch offers the following tips for evaluating your situation and determining whether to stay the course. Check them out, and weigh in: What’s most important in a career?

Look for fulfillment from your work and balance in your life. If you’re logging long days at the office and not feeling a sense of accomplishment, you might want to consider something different.
Know when to leave your job. If you constantly complain about it or feel emotionally drained, think about what you can do to change it.
Look inward. What are your values, dreams, and passions? “If your work doesn’t align with those, find another job,” Burch said.

Initial jobless claims fall in April

2010-05-20T11:03:00.003-04:00

New figures show layoffs continue to slow in the Charlotte region, another sign that the worst of the recession is over.

The number of initial unemployment-insurance claims fell last month in Mecklenburg and surrounding counties, and most counties in the region saw double-digit year-to-year drops, according to the N.C. Employment Security Commission.

Last year, by comparison, Mecklenburg often saw year-to-year increases of 75 percent or more.

Since the recession began, more than 51,000 people in the Charlotte region - 6 percent of the workforce - have lost their jobs. The unemployment rate remains elevated, at 11.9 percent in March.

Last summer, though, the job cuts finally began to ease. In April, about 3,870 Mecklenburg workers filed first-time unemployment claims, down from 4,500 in March and 4,900 in April 2009, the ESC data show. That’s down more than 20 percent from the year before.

Still, experts are quick to warn that the region isn’t out of the woods. Thousands of people remain out of work, and many companies say they’re still not confident enough to hire.

On a positive note: Some employers are hiring - and will be looking for new workers at a job fair next month.

CharlotteHires is holding the career fair from 11 a.m. to 2 p.m. June 4 at the Ramada Airport South & Conference Center, 212 W. Woodlawn Road. Companies represented include Aaron’s, Aerotek Professional Services, Sears Home Improvement Products and Aflac. A local career expert will be on hand, too, to provide free resume review.

Advice for new grads

2010-05-17T12:58:00.004-04:00

It's graduation season, and that means a flood of newly minted professionals entering the workforce. For many, it also means the start of a long and frustrating job search.

The Economic Policy Institute, a think tank based in Washington, D.C., found in a recent report that young Americans graduating from high school or college this spring face the worst job market in at least a quarter-century.

"The economy has added jobs over the last few months, but we still have a very deep hole to climb out of before every worker who wants a job can find one, and young workers are no exception," EPI economist Josh Bivens said in a statement.

The unemployment rate for college grads younger than 25 averaged 9 percent over the last year, compared to 5.4 percent before the recession began. The rate for new high school graduates was 22.5 percent, up from 12 percent before the recession.

Those figures don't account for the young graduates who found work below their skill level, either.

So is there any hope for new grads? Experts say there is - and offer a few tips for finding a post-college job.

Financial-services executives surveyed by global temporary staffing firm Accountemps, for instance, suggested accounting graduates might have more success with a small or mid-sized company. Landing a job there will mean more duties and, as a result, the ability to build skills quickly, learn about different parts of the business and assume strategic roles earlier, Accountemps said.

The firm also offered the following tips for the job search:

Network. Talk to everyone you know about your search, and consider working with a staffing firm that specializes in your field.
Keep your online footprint professional. Update privacy settings and avoid using off-color or overly cute e-mail addresses.
Customize your application. Tailor your resume and cover letter to each position, and address them to the hiring manager by name. Make sure your resume and cover letter are error-free.
Do your homework. Research the employer and the industry.
Say "thank you." Send thank-you notes to managers who interviewed you. E-mail is fine, but also follow up with a handwritten note to stand out from the crowd.

More jobs in the Charlotte region?

2010-05-13T11:21:00.006-04:00

A recent economic snapshot shows positive jobs news in the Charlotte area, particuarly when it's stacked up against other regions in the Southeast. But it also points to - you guessed it - continued challenges.

The Charlotte Regional Partnership found in its latest By the Numbers report that the unemployment rate for the 16-county region - which includes part of upstate South Carolina - dropped to 12.6 percent in March from almost 13.6 the month before. The area's labor force climbed by about 2,800 people, the partnership said.

By the Numbers also calculates net jobs as a percent of the region's workforce. The Charlotte area lost 0.2 percent in the year ending in March, ranking it in the middle of the state's eight economic development regions. The Raleigh area fared the best, with a gain of 1.1 percent.

When compared to six other regions across the Southeast, Charlotte ranked second behind Nashville, the partnership's report showed.

Companies continue to expand in the region, By the Numbers found. Almost 50 companies have announced expansions or openings this year through April, creating almost 4,300 jobs.

During that same period, though, 21 companies announced layoffs or closures that would eliminate a total of about 1,500 jobs, according to the report.

A related jobs development: A recent report from job-search engine Juju.com found 4.6 unemployed people per advertised job in Charlotte. That placed the city 28th of 50 major U.S. cities in job-search difficulty - an improvement of three spots since last month's report.

Washington, D.C., topped the Job Search Difficulty Index, with just 1.6 candidates per opening.

So it seems in Charlotte, at least, the theme continues: hopeful news, but continued hurdles.

Online networking: helpful, and risky

2010-05-10T09:47:00.003-04:00

Last week we discussed the role and benefits of social networking sites, such as LinkedIn, Twitter and Facebook, in the job search. But as some readers correctly pointed out; there are risks, too.

Sometimes, job-seekers see such sites as an excuse to hide behind their computers, missing out on the face-to-face networking that can so often lead to an interview. In other cases, online missteps can hinder the job search or even endanger an existing job. Employers say they're increasingly monitoring social networking sites, as I reported in 2008.

The answer, for many, is to simply know what's out there. Global temporary staffing firm Accountemps found in a recent study that 70 percent of workers surveyed said they have conducted an online search of their name to see what information is available.

That's helpful for workers - and critical for job-seekers, company chairman Max Messmer said in a news release last month.

"Many employers now routinely perform Internet searches to quickly learn about applicants' interests, experience and industry involvement," he said. "Job-seekers need to pay attention to what they share online - including contributed content, article comments and photos - and take steps to ensure the image they project is professional."

Accountemps offers the following tips:

Know what's out there. Set a Google alert for your name, and delete anything that could be seen as unprofessional or controversial. If you come across unflattering material you can't remove, be prepared to explain it to a hiring manager.
Take advantage of privacy settings. Control who has access to your personal blog or social networking sites.
Contribute to the conversation. As appropriate, comment on articles of interest to you and your field, and consider writing columns for industry organizations.
Exercise discretion. Be aware that potential employers might see what you post, and give careful consideration to how statements you make might be interpreted. Keep your comments constructive, and avoid disparaging others.
Keep your profiles current. Make sure your professional profiles on sites such as Google and LinkedIn are up to date and highlight your experience.

Do you have any other tips? Feel free to weigh in on what's worked and what to avoid.

Social media and the job search

2010-05-06T09:43:00.005-04:00

We all know it: Social-networking sites are becoming increasingly important in the job search. But many job-seekers aren’t sure how to use them to edge out the competition.

In some cases, they’re missing important leads by staying on the Internet sidelines. In others, they’re doing too much - too many contacts, or too many questionable photos - and calling their hireability into question.

I sat down this week with Charlotte recruiter and career coach Mark Frietch to talk about the job market - stay tuned for a Q&A in the paper sometime soon. We also talked about the growing importance of the Internet, how to get started and where to draw the line on Facebook.

Here are some highlights:

Q: How should job-seekers start, especially if they’re not used to online networking?

Don’t be afraid of the Internet. Get a profile out on LinkedIn.com. Get your picture up there. Get all your information up there, and start leveraging your network. That doesn’t mean you have to accept everybody who wants to connect, and it doesn’t mean you have to send out 700 invites yourself, either. You have to decide who you really want to target, what companies you really want to work for - what you really want to do.

Q: How can social media help a candidate stand out?

I tell students to blog about their experience starting their job search: “Here’s how I market myself. Here’s my communication style.” This has value down the road.

Q: LinkedIn is an obvious choice for job-seekers, but do other sites have a place in the search?

The biggest question I get with Twitter: “I really don’t care when someone’s getting out of the shower.” So don’t follow those type of people. Follow the people that are going to give you good pieces of information. Most companies have Twitter accounts; follow them.

Q: What about Facebook? You often think of that as a place to connect with old friends, rather than network professionally.

It doesn’t hurt to have your personal and professional life intertwined. You just have to be cognizant of what’s out there. You probably shouldn’t have pictures of you doing a keg stand. On Facebook, it’s about getting your story out there: “Hey Facebook friends, I just found out I was displaced; here’s the type of thing I’m looking for. If there’s anybody that’s worth talking to, let me know.”

Recovery under way, but long-term effects unclear

2010-05-04T10:21:00.004-04:00

If there's one thing we can say for certain these days, it's that there are no easy answers.

Case in point: recent reports from the Federal Reserve and Wells Fargo, which paint complicated - and conflicting - pictures of the economic recovery.

In last week's Carolinas Survey of Business Activity, the Fed found "that sentiment among Carolina businesses continued to improve" in April, with more good news expected this spring and summer.

Sales continued to increase, and firms grew more optimistic about the future. The availability of labor remained mostly unchanged in April - a nod to the continued slack in the labor market - but survey respondents said those markets would tighten in coming months, the report found.

The Wells Fargo Economics Group's April report, which discussed long-term trends for the Charlotte area and statewide, found prospects hazier.

Expectations for the Charlotte area are favorable, but the region has "struggled mightily in this downturn," due to hits to the finance and manufacturing sectors, the report said.

Going forward, building permits are likely to climb, but prices will remain shaky for a few more quarters, due to foreclosures and a weak job market, the report found.

Signs of hope have emerged in the local job market, particularly in the financial services field, which is beginning to stabilize and add jobs, the Wells economists said.

But they expressed some concerns. For example, despite North Carolina's world-class universities and a commendable community college system, primary and secondary schools are not doing enough to prepare students for jobs, the report said.

The state budget is not prepared to deal with falling revenues. And population growth has slowed sharply in the Charlotte area and statewide.

"We have little hope that the state will see anywhere near the prosperity or growth rates of the past two decades," the report said. "Any strength that may appear this decade will have to be back-weighted once the national economy has a chance to recover."

So it remains to be seen how the region and state emerge from the recession. Until then, expect more mixed opinions, and more uncertainty.

Ballroom a boon for convention business

2010-04-28T10:55:00.005-04:00

I got a sneak peek Tuesday at tourism officials’ latest tool to draw conventions - and the big spending that comes with them - to Charlotte. It’s the Charlotte Convention Center’s new Crown Ballroom, a 40,000-square-foot space that hosts its first event, the Center City Vision Awards, Thursday.

The $43 million space, located at the NASCAR Hall of Fame and connected to the convention center via an overstreet walkway, promises to help the city regain tourism business after a bumpy few years.

Travel to the area began to slow about two years ago, as the economy pinched corporate budgets and grounded business travelers. By fall 2009, hotel occupancy was down 17 percent over the previous year, compared to a 10 percent national drop, data from the Charlotte Regional Visitors Authority show.

The CRVA refocused its efforts as a result, hoping to rely less on business travel and more on conventions and tradeshows, amateur sports and leisure travel.

Lately, groups are showing more interest in Charlotte and are beginning to book events further out, likely to take advantage of recession-related deals, convention booking manager Leslie Kluttz said.

February hotel occupancy was about 60 percent, up 9 percent over last year, though average daily rates are down 5 percent, a recent CRVA report found. Among the continuing challenges: conventions can find lower rates in larger cities, too, meaning some groups are passing on Charlotte for sites such as San Francisco, said Ted Lewis, the convention center’s general manager.

There are 23 definite tradeshow and convention bookings for the 2010 fiscal year, down slightly from the year before and down from a target of 30.

But tourism officials are encouraged by big events on the horizon, such as the National Rifle Association, which convenes in the Crown Ballroom in mid-May and is expected to draw more than 60,000 people.

Officials say the new ballroom, 5,000 square feet bigger than the existing one - with even more floor space, thanks to a built-in stage - will help book groups that otherwise would have gone elsewhere. They say the space, coupled with the NASCAR Hall of Fame, new museums and other attractions, will bring in money for hotels and restaurants, resulting in bigger tax collections and the word of mouth to fuel future trips.

“This is a significant step up for us,” Lewis said.

Temp jobs pickup good news, for some

2010-04-26T10:55:00.007-04:00

Charlotte-based Exervio Management Consulting has benefited from an ongoing trend in the local jobs picture: hiring temporary workers.

Business has improved significantly over the last three quarters as a result of the demand for temporary labor at large employers, said Jon Nance, president of Exervio, which assists Fortune 1000 companies in Charlotte, Atlanta and Dallas.

"These companies have a lot of change to manage and, as a result of the recession, their staffs are very lean," he said.

The increase in temp hiring - meaning companies have more work and could begin ramping up full-time hiring soon - has been a sign of progress in recent months.

Data from the N.C. Employment Security Commission show the Charlotte region added 5,300 jobs in March, helping shrink the unemployment rate to 11.9 percent from 12.8 percent. Almost one-fifth of that growth came from the professional and business services sector, which includes temp workers.

Nationally, temporary-help services employment rose 40,000 in March. Since September, employment in the industry has grown 18 percent.

And a survey last month from staffing firm Robert Half International found that 10 percent of executives interviewed plan to increase the number of full-time employees in professional roles in the second quarter.

So could that mean continued improvement in the region's unemployment rate? As economists said last week, we'll have to wait and see.

In other local jobs news:

The National Hispanic Entrepreneurs Organization, established in Charlotte last year, will unveil its new NHEO Institute Tuesday in partnership with UNC Charlotte's Ben Craig Center and Belk College of Business. The institute helps entrepreneurs launch and maintain new ventures through technical assistance, educational workshops and other programs.

The Charlotte Area Fund and other local groups are hosting a healthcare career fair from 9 a.m. to 2 p.m. Thursday at the Carole A. Hoefner Community Center, 610 E. Seventh Street. The event features employers plus health screenings, nutrition demonstrations, wellness stations and giveaways. Candidates should wear business attire.

LocalJobs.com, the Charlotte Chamber, the Lake Norman Chamber of Commerce and Carolinas HealthCare System are sponsoring a job fair from 10 a.m. to 3 p.m. May 4 at SouthPark Mall. Hiring employers include Carolinas HealthCare System, Red Ventures, TJ Maxx Distribution Center, Premier Inc., Harris Teeter, Fifth Third Bank and more.

Be sincere, beat the competition

2010-04-21T18:06:00.013-04:00

It seems everyone has an idea about the best way to stand out in a crowded job market: Shuffling through job fairs. Schmoozing at networking events. Toting custom calling cards - even dumbing down a resume so as not to appear overqualified.

But Ari Kaplan, a New York lawyer and author of a book on creative networking, thinks candidates should be more intentional in their search. The gist of his approach: Do your homework on a potential employer and reach out in meaningful, memorable ways.

Kaplan, who wrote “The Opportunity Maker: Strategies for Inspiring Your Legal Career Through Creative Networking and Business Development,” spoke last week to students at the Charlotte School of Law about navigating the job market. Later, the former commercial litigator shared some tips with me on finding a career in the legal field and beyond.

Check out the Q&A below and join the discussion: Would you try Kaplan’s tips? What’s worked best - and worst - for you?

Q: What are some of the strategies you recommend for finding a job?

One of the messages I try to encourage people to think about is to find a way to be a resource, instead of searching for an opportunity to give someone your resume.

Q: So what could I, particularly as a student, offer a potential employer?

A lot of lawyers, for instance, are interested in teaching. So you could reach out to a network of lawyers and send them an e-mail: “I just noticed that the Charlotte School of Law is looking for experts on this topic; I thought you might be interested.” Or invite them to discuss something with your student organization, which offers them a chance to share their knowledge and experience.

The goal is not to be someone’s PR person; it’s purely to find a way to interact that’s genuine, that’s sincere. It’s a perfect way to follow up, even if they never write back. It’s much more saying, “I’m thinking of you.”

Q: How does that translate into job opportunities?

It’s the nature of human relationships that if we’re having a conversation, it’s never a one-sided experience. If you are somehow initiating this conversation and creating this opportunity to interact, they’re naturally inclined to ask, “You’ve done something nice for me; how can I be helpful to you?” They will remember you, and being memorable is a key factor.

Q: Do you recommend this approach for potential employers you’ve never met, or as a followup to an earlier meeting?

You might meet people randomly and want to stay in touch but don’t know how, and there’s only so many times you can e-mail to say “thank you.” I suggest they do something like add someone to a Google alert. Then maybe in a few months, something pops up and this person is quoted, or something is written about a case, and then you can send them an e-mail that’s very genuine: “Hey, I read about your case.”

The success is in the imperfection - in the attempt.

Q: What role does social media play in networking?

I suggest people use Twitter to listen to the conversation and to learn a little bit more about what the community of people they’re trying to get into is saying. They might pick something up they can share with a target group they’re trying to get into. Over time, the key to success is really to target who you’re trying to meet, rather than try to meet as many people as you can.
What I’m most excited about - speaking increasingly about technology - is the ability to reach people through different formats. Twitter allows people to listen in on conversations they never would have been privy to even a year ago.

Q: You speak to groups around the country. Are you seeing positive signs?

I have, over the past year especially, been in the position of delivering a positive message of empowerment in a pretty negative climate. I think that’s really starting to shift. People in this market who have prepared themselves in some way are now kind of reaping the benefits. There’s some groundwork that needs to be laid, but once you lay it, you can achieve a result that will have an effect on your work but will also inspire you.

Mixed signals on jobs, recovery

2010-04-19T14:09:00.004-04:00

The good news: Now, more than any other time in the last two years, companies are hiring, according to Charlotte recruiting company Bessire & Associates Inc.

The bad news: Applicants are hard to come by.

"We stand perplexed, to some extent," firm president Jason Bessire said. "How can unemployment be so high, yet the return on recruitment advertising be so low?"

Bessire, who's hosting a career fair Tuesday featuring sales jobs of all levels in advertising, office machines, insurance and more, wonders whether job-seekers are just spent - frustrated, disillusioned, even content with unemployment. Maybe they're more choosy, or maybe they haven't found success at past career fairs and have instead focused on more personalized networking.

He wants to assure candidates that there are real jobs at this week's event, being held from 9 a.m. to 1:30 p.m. at Embassy Suites, 4800 S. Tryon St. (more details at www.Bessire.com). And he's urging job-seekers to fight that feeling of discouragement.

"This first quarter, I am optimistically encouraged," Bessire said. "I have seen an uptick in clients calling us ... in a wish to start hiring again."

Bessire's experience is yet another example of the complexity of today's economic climate. For every step forward, there's another hurdle, it seems.

In Mecklenburg County last month, for instance, initial jobless claims, which track the pace of layoffs, fell to 4,500 - a decline of more than 15 percent from the year before, new data from the N.C. Employment Security Commission show.

And a national report this month from job search engine Indeed.com found that for the first time this year, all 50 major metropolitan areas had fewer than 10 unemployed people per job posting. Charlotte ranked in the middle of the list, with four candidates per opening.

Yet the region’s unemployment rate remains at 12.8 percent, nearly triple its pre-recession levels. And for many of us, things still feel pretty rough.

Welcome to On the Economy, a new blog that will serve as a kind of guide along this uneven path to economic recovery. We’ve all felt the fear that gripped this region as the recession took hold. We’ve all felt that sense of dread when we hear of a friend who lost his job or a company that closed. We’ve all cut back, in one way or another.

We all know, too, that this is one resilient region. There are entrepreneurs who have capitalized on new opportunities and workers who have turned a pink slip into a new career. The recession has battered us, but it’s also emboldened us. It’s sparked a lot of pain, but also some comradery; everyone has a story to share.

This is a place for those stories - the good and bad, the hopeful and desperate. It’s a place for news, data and experts’ insights. It’s also a place, I hope, for discussion. So don’t hesitate to comment here or e-mail me to share what you’re experiencing, what you’re hearing from others and what you’re hoping for the future. I look forward to talking more.