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Anecdotal Analysis Of The Minnesota Job Market Q3 And Q4 2010

Over the past six weeks between Recruiter and HR events, meetings with senior management in companies of all sizes and industries, what I hear from job seekers and what I see from job postings here is an anecdotal analysis of the Minnesota job market as we end the 3rd quarter of 2010, ready???

I don’t have a (definitive) clue.

My Magic 8 Ball has a cracked lense and some moisture has gotten in there making it difficult to see the answer to my (all of our) question.

Yep, that’s what I have come up with.

Hold on here is some information you can use to come up with your opinion and do me a favor, tell me what you are seeing.

Please note that this is not scientific and specific to skill set, industry, education attained or salary range unless otherwise stated. But it does come from enough varied sources that I feel comfortable giving an opinion.

What I know I know:

- I continue to see contract staff being added to companies but few being converted to full time

- I am seeing compensation packages slowly increase

- More jobs are posted:

- Hiring for the rest of the year will be anemic as it has been

- Strengths can be found in sales and IT. Financial Services and Marketing is coming back. PR is still slow. Some executive positions that focus on growth can be found

What I think I know:

- I no longer fear a double dip recession

- I do not seeing a significant (think a flood) hiring uptick

- Specifically to my IT Friends, I think we will see budgets and projects continue to get funding/grow

- We will continue to see a large spread between open jobs and job seekers not having the skill set needed (as judged by the companies)

- Those under age 27 and over 55 will continue to have issues finding jobs

- Those out of work for 6 months are going to find it even harder to find a job (see next item)

- More people with jobs will be looking for new ones (regardless of reason)

What I know I don’t know:

- What 2011 will look like for hiring. While a double dip recession is unlikely GDP could fall to 1% and it will feel like a recession

- How long companies will continue to add staff if the economy does slow down

- There will be pockets of strong hiring depending on skill set and industry

Here are the results from our 2 Minnesota Recruiting Hiring Surveys:

So there it is.

For those of you who look at employment and economic numbers what do you think? Am I right on, close or clueless?

HR and Recruiters, agree or disagree?

And for those not in Minnesota what does it look like where you are?


Dan Hardman

I think we all wish our magic 8 balls were working! Great post and right on from what job seekers are seeing.

Christine Smith

There is definitely an increase in the number of recruiter openings- always a good sign for hiring. However, it is taking longer to hire people, more people involved in the process and now more then ever, employee referrals are key. I think companies are getting tired of waiting and will start hiring. I also think the November elections will have a huge impact on what happens next. Either people are going to feel positive and move ahead or they are going to hunker down. Personally, I think I am seeing the light at the end of the tunnel. Or it could be the headlight of the freight train that is about to hit me.

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