Job Growth by Sector

A forecast by Moody's Economy.com shows a breakdown of US employment sector growth by state in years 2010-2012. The sectors including construction, financial/professional services, trade/manufacturing, transportation and leisure all show negative trends at -2.3% or more throughout most of the country.

Government and Educational/Health Services show neutral to slightly upward growth of 1-2% or more providing further evidence of the shifting dynamics as a result of the financial meltdown and priorities of the Obama administration.

http://www.usatoday.com/money/economy/2009-02-06-new-jobs-growth-graphic_N.htm

Economy.com will be tracking these trends and updating the map by state on a monthly basis.

Actively Unemployed

With the unemployment rate reaching 8.5% this week, hundreds of thousands of workers are actively looking for jobs. They are scouring the Internet, calling headhunters, notifying family members, etc. How does one differentiate themselves during these hard times? There are so many talented and skillful professionals out there competing for that next job.

In one word: Preparedness. The worst thing one can do is not prepare for an interview. While researching the company through its website and googling news articles are a start, committing time to follow industry trends, economic conditions and job fundamentals are critical components. A powerful mindset might include thinking about how one would lead the group if hired.

Go beyond thinking about the role of the position you are aiming towards and think about how your potential future boss would run things. What types of concens would he/she have? Think about the last job you had, and all of those lingering projects that others never bothered to perform or slipped by the wayside. Are these types of projects also needed in the new role/company you are targeting? If you can come up with enough of these projects and perform some of the heavy lifting now, you will be that much more valuable not only in the interview, but also the first few months upon hire when you are on the spotlight.

This type of work not only adds value, but keeps you fresh during your unemployed time, and will demonstrate a proactive nature, strong will and confidence when meeting with potential employers.

Feeling down in todays market?

Lets face it - this market is really tough today. Massive layoffs from subprime slowdown has left many companies, the 800 pound gorillas and small boutique firms, completely uncertain about growing divisions which has led to hiring freezes.

If you're one of the unfortunate talented professionals who were subject to the whims of this market downturn, there is very little to worry about in my opinion for several reasons. The first and most important, is that the Fed has responded, albeit rather slowly yet forcefully, fueling market liquidity combined with a much needed lower interest rate environment - factors which will all positively impact a stronger 2nd half particularly for financial institutions. Another positive is that a layoff in today's economy is not looked upon as bad when everyone today has a friend or family member that has had the same back luck. It is almost the norm!

Finally, and most strategically, is that in such times of uncertainty, companies are open to ideas and leadership, so it is a great time to focus your efforts and build skills in areas where the market is increasingly focusing its attention to: risk and credit are hot areas right now and given the changing landscape, should continue to be two important skills to have for years to come.

Online Job Search Aggregators

Searching for jobs online can take hours every week and become so exhausting. To save you some time, two websites out there, Indeed.com and Simplyhired.com create an efficient tool as job search aggregators, spanning across the web to gobble up postings all over, including  all of the major job boards (Monster, Hotjobs, Craigs’s List, Careerbuilder), newspaper classified sites, industry sites and corporate job sites. Just like any search engine, you have to test the waters to either broaden or narrow a search when too many (and less relevant) or too few results are generated.

One caveat: Some corporate site jobs do not make it into the search results of the aggregators such as Indeed and Simplyhired. Why? If they do not contain the correct link listed in the job posting they will not be posted on the aggregators.

Should I meet with a Headhunter?

Should you meet with that headhunter who just contacted you? From past experiences, you have probably dealt with many recruiters who never called you back, had the attention span of a five year old, and ended up losing that email you sent them.

Before you begin, consider the position of a headhunter/recruiter. Their job is to connect you with the employer. The relationships they want to build are with the employers since they are their ultimate clients who write them their paycheck. Hence, they will operate in the best interest of the employer, and not always the candidate seeking employment. Think of them as the listing agent and you are the prospective home purchaser going through them.

So why bother with the hassle of having to submit to the endless forms their agency requires you to fill out with personal and professional information? Why hassle with those mindless interviews they want you to come in for? Why begin to enter into an agreement with an agent who might not have your best interest in mind?

The bottom line is you have to filter them out to save you both some time. They want you as a client and broaden their database of candidates, so bringing you in begins that relationship and creates more of a connection. You should only want to build this relationship if that headhunter comes highly recommended from a colleague or if there is a job they have posted where you feel strongly about, and have not already seen. This is a critical point. If you can locate the same job on a search engine or job aggregator (such as indeed or simplyhired), you should first apply independently without using the recruiter. Why you might ask? Everything else being equal, hiring you will be costlier for the employer to use the recruiter for his/her services. Although none of this will be explicitly stated by the recruiter or employer, using the recruiter may ultimately lead to a lower offer during salary negotiations.

If you do not value building a relationship, but applied for a specific position and the headhunter requires you to meet with his/her agency first, consider asking a few key questions over the phone with the lead recruiter (not the receptionist or junior recruiter who knows very little about the position).  You will find cases where they will be persistent for you to visit their offices. You can be positive and assertive at the same time, by keeping the conversation focused on the position until you gather enough information for you to make a go/no-go decision to meet with them.

Otherwise if you get some random call asking you to come in to find out more about your background and career goals, you may want to put that meeting low on your list of priorities. This headhunter has no immediate position in mind but is hoping to find a fit for you, which will probably waste your time.

How to Spot Dead-End Job Postings

There are plenty of shady or manipulative employers looking for new unsuspecting candidates to sell an awful product or service. You can save yourself some time by weeding out these dead-end jobs right away. Here are some red flags to look for while searching for opportunities in the paper or online:

1) The ad sounds like an infomercial. The language says it all. “Our business has been growing by over 100% every month” or “You can’t afford to miss out on this business opportunity” Those pitches may work well for some stackable Rubbermaid product, but not for your career.

2) The company will be holding an “information session” held in some dingy hotel conference room. Same thing as an infomercial except you get a free pen and waste two hours of your time.

3) The message talks more about being entrepreneurial/being your own boss instead of providing information about the actual position.

4) The salary is commission only. Do not even consider this option unless you are in a financial position to forego a steady salary for a while. While some commission only jobs can work, and are standard in some industries, you really have to do your homework.

If you decide to meet with this company, bring a list of specific questions to the meeting. Most importantly, meet with people who have recently come on board and find out how successful they have been, and determine the biggest challenges in the beginning. Put yourself in the customers shoes and have them respond to every hole you can find in the product/service (better yet, run the idea through colleagues prior to your meeting). If they can’t answer all of those questions (you should have a comprehensive checklist) convincingly, don’t bother wasting your time.

5) The same job is posted every week. This could mean the place is a revolving door. After a few weeks, new employees leave after recognizing there’s no compelling product or service.

Should I get an MBA?

It’s a question many professionals contemplate on whether it’s worth the time, cost and effort.

To start, focus on one central issue: will the MBA take me to where I want to be more effectively than the alternatives?  Understanding what drives you and selecting the career path that directly links to this can sometimes be difficult.

Evaluate the alternatives before choosing. Attaining the knowledge, skills and abilities for your future job is critical, so do your research on the career you ultimately desire to find out exactly what you need to get there. Look online to see job descriptions/requirements. Most importantly, talk with someone currently achieving success in this career path who can convey to you everything you need to not only get hired, but also to become a  success. Talk to a few people to get a better sample size.

After doing your research, if it becomes evident that there are other avenues to get you to your next position (a few courses, independent projects, etc), then by all means forego the MBA and pursue that strategy. If you conclude that the MBA is your best choice, then start looking into the best programs that fit the priority of your requirements (location, cost, reputation, job placement, in-depth courses and well known professors in your field).

Once classes start up, attack the courses and professors directly linked to this career path.  The first year is often a dizzying array of required courses and can be a hectic schedule. Keep focused on the most relevant tasks and start the summer internship process early. Otherwise, you might get lost in the shuffle of irrelevant coursework, speaker and networking events that are “nice to attend”, but will not get you to your goal.