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Job Growth Dismal, Unemployment Hits 9.2 Percent in June 2011
The U.S. unemployment rate has increased for three straight months

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By Danielle Kurtzleben July 8, 2011, found at usnews.com
Just yesterday, the nation’s hopes were high in part on a report from payroll accounting firm ADP that the private sector added 157,000 jobs in June 2011, as well as Labor Department reports of a decrease in new filings for unemployment insurance. But today’s official unemployment report dashed those hopes, as the Labor Department announced that the unemployment rate among your Finance jobs in finance and accounting jobs had grown for the third straight month, inching up one-tenth of a percent in June to 9.2 percent.
Equally distressing, the total number of new jobs created in June was a paltry 18,000, the government reported, with government, finance, and construction continuing to be a drag on job growth. Most of the 57,000 new private sector jobs were offset by the loss of 39,000 public-sector jobs. Major gains came in leisure and hospitality, with 34,000 jobs added, and there was also growth in healthcare and manufacturing, which added 13,500 and 6,000 jobs, respectively. Many economists agree that to bring about meaningful shifts in unemployment, the economy must regularly add more than 300,000 jobs per month. Just to stay even with population growth, the economy must create 100,000 to 125,000 new jobs a month.
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Finance & Accounting Web Sites:
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by Peter Weddle
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Speaking in the White House Rose Garden today, President Obama acknowledged the pain that the 14.1 million unemployed Americans are facing. “Today’s job report confirms what most Americans already know: We still have a long way to go and a lot of work to do to give people the security and opportunity that they deserve,” he said, acknowledging that there is still “a big hole to fill” after the recession cost the economy more than 8 million jobs.
For Obama, relief on the job front is quickly becoming a major political headache with the 2012 president election now 16 months away. The issue is clouded with ongoing negotiations over the debt ceiling, as many proposals envision a sharp cutback in federal spending and presumably government jobs. There is no doubt that the jobs situation is far from ideal, or even adequate. Yet there may be reason for optimism buried in today’s numbers. Joel Naroff, president of economic consulting firm Naroff Economic Advisors, says that the increase in leisure and hospitality jobs, as well as a small jump in retail hiring, imply that consumer spending at stores and restaurants is picking up as well. “If people are spending that money, are they really that depressed? Is the economy really that slow?” says Naroff. He says that these figures might foreshadow future job growth as well. “Employment is a lagging indicator. Businesses don’t see someone buying something and then run out and hire. The long-running trend is that we’re coming off the soft spot,” he says.
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Shortly after the government released today’s numbers, the political gamesmanship began. House Minority Leader Nancy Pelosi accused Republicans of doing too little on jobs and “failing to offer a clear jobs plan.” She contrasted the GOP’s actions with those of her party: “Democrats have forced 10 votes on job-creation measures in this Congress—and Republicans have voted ‘no’ each time,” she said in a statement.
House Majority Leader Eric Cantor meanwhile used the numbers as further ammunition in the ongoing debt-ceiling fight, telling reporters at a Friday-morning press conference that flagging jobs numbers bolster the Republican argument against raising taxes. “If you look at the jobs report, the results of current policies, and where we are in this economy, that is why the Biden talks had to end,” he said, referring to June’s failed bipartisan deficit-reduction talks.
All the politicking is certainly not surprising, but may ultimately be harmful to the economy, says Naroff. The best thing that Washington politicians can do at this point, he says, is to “go home” and “keep [their] mouths shut,” rather than fighting, hurting consumer confidence. “By arguing, the discussion has nothing to do with economics. All they’re doing is raising anxiety, all they’re doing is playing games.”
For his part, the president today in his remarks offered a list of more concrete measures that Congress could pass “immediately” to spur job creation, including infrastructure investment, patent reform, and free-trade agreements.
… Click to Read finance job article
Where are There Job Opportunities Abroad for People in Your Profession?
Countries like New Zealand, Australia and Canada have lists of professional sectors where there are skills shortages. In these sectors they seek to recruit expatriate professionals every single year. Visas are more like to be granted to those who have the skills and experience to fill the finance jobs vacancies – but where there is a skills overload and there are few jobs available, an expat is less likely to get a visa based on their qualifications alone.
found Wed, May 26, 2010 at shelteroffshore.com
This proves that there are certain skills in demand in countries around the
world, but not all nations suffer from the same skills shortages. So,
where are there job opportunities abroad at the moment for people in your
specific profession?
Thanks to the producers of the Global Professionals on the Move Report, we
can now plot not only where there is the potential of jobs abroad per
employment sector, we can tell you where the competition is currently looking
for work. This can help you when you’re planning on starting a new life
– you can see where there are perhaps more opportunities for you, and fewer
people applying. In this way you will hopefully stand the best chance of
getting a job abroad.
The 2010 Hydrogen Global Professionals on the Move Report, compiled by ESCP
Europe Business School, surveyed over 3,000 professionals who are living abroad
in 70 different countries. It also spoke to those who are contemplating a
relocation about where they would like to go and why, and it is from this data
that we have been able to see where there is perhaps most competition amongst
professionals per employment sector for work abroad.
The findings were commissioned and then analysed by the Hydrogen Group,
which is one of the world’s leading specialist recruitment groups; and they
have been able to bring context to the statistical findings and reveal where
there are perhaps more opportunities overseas in a given sector.
Where Can You Find Legal Jobs Abroad?
Of those surveyed who were professionals in the legal sector, the vast
majority stated that if they were looking to relocate they would prefer to head
to America for work – but the interesting thing is, jobs for internationally
trained lawyers in America are few and far between. A Hydrogen Group
spokesperson commented: “there are very few opportunities there [America] for
overseas lawyers because the legal system is completely different… The big
markets for overseas lawyers are in Singapore, other countries in Asia, and the
Middle East.”
So, if you’re a lawyer looking to advance your career with international
experience, you now know where you should perhaps be concentrating your search
for a placement. Of those surveyed, the number one reason for
contemplating a move overseas was finding better job opportunities, with other
important factors cited including having new experiences and finding better
living conditions in terms of achieving a more favourable work/life balance.
Where Can Engineers Find Jobs Abroad?
Engineers are more likely to consider Australia for a relocation – and
this ties in with where there is strong demand. According to the Hydrogen
Group: “In Australia, demand for highly-skilled engineers and technical
professionals is being fuelled by huge investment – £295 billion to 2018 in
roads, bridges, ports, water and sewerage infrastructure, railways and
electricity networks.”
However, if you’re highly skilled in this sector you needn’t be
restricted by there only being a market for jobs in Australia, apparently the
United Arab Emirates is still continuing expansion projects, and this leads to
strong employment opportunities there. These can also come with massive
tax incentives – so may be worth a look.
The survey revealed that quality of life, living conditions and the desire
for new experiences would send expatriate engineers abroad.
Where do HR Professionals Want to Work?
2009 was not a particularly positive year for HR professional positions
opening up, but according to Hydrogen Group, more positivity in some regional
markets is leading to increased recruitment opportunity. The most popular
choice for would-be expat HR professionals is Australia, and this year this
sector has again opened to some international recruitment of mid to senior
level international candidates with specialist skill sets.
However, if you’re looking for emerging pockets of opportunity and
you’re an HR professional, consider countries in the Middle East and Asia,
such as Singapore. According to Hydrogen Group: “HR teams are now
recruiting for senior HR professionals with a background in strategy and
change, who can help ensure businesses meet their growth plans…Strong senior
candidates from the UK with experience in organisational change through the
downturn and the shift to upturn are in demand.”
Finding Finance Jobs Abroad
If you’re in finance and you’re looking for opportunities overseas, most
of your peers seem to be looking towards the United States. However, the
fact of the matter is, such openings are very rare in America, and their
immigration restrictions are so harsh that it’s an exceptionally hard market
to crack.
Perhaps more than in many of the other professional sectors, when it comes
to finance there is a strong ‘disconnect’ between where people would like
to live abroad, and where the real opportunities are. Again, the Middle
East and Singapore are good choices to examine if you want to find finance jobs
abroad – and they are also areas where you can potentially achieve strong
salaries and good living standards…both reasons cited by would-be expats as
reasons to relocate.
Where Can you Find IT and Technical Jobs Overseas?
By far the most popular country considered by IT and tech workers for
relocation purposes is America – again. The interesting fact for this
particular sector though is that it is one of the most globally dynamic, and
there are pockets of opportunity all over the world as a result. Hydrogen
Group are keen to point out that: “For technology, there is no reason why it
should not be a truly global environment, and that’s what we’re seeing in
terms of recruitment…I think we’ll see greater mobility for this sector
continue.”
If America does not appeal to you, where else are there strong levels of
opportunity? Abigail Waudby, Director of Hydrogen’s Singapore office
comments: “With the Asian markets returning to growth, we are seeing a high
volume of project-led roles within technology and finance, and scarcity within
the local candidate population is forcing employers to cast their net wider.”
Your finance jobs Conclusion
If you have a strong desire to work abroad in your particular professional
sector it is very important that you are realistic about marrying up
opportunities with your motivations for going abroad in the first place.
If you’re seeking new challenges and experiences, the chance to advance your
career and perhaps also achieve better living conditions and a better work/life
balance it is worth researching where there are strong levels of jobs available
that you can apply for. You need to work within a market where your
skills are in demand and prized, and where you will gain as much as you can
from the placement.
Utilising the services of a specialist recruitment company can help you to
guide your choices based on where there are jobs abroad in your sector.
read also the following books to help you find your finance job:
How to get the hot jobs in business & finance
~ Mary E. Calhoun
Finance & Accounting Web Sites: Fast Facts About Internet Job Boards and Career Portals (WEDDLE’s WizNotes series)
~ Peter Weddle
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