If I can read between the lines with a announced 8.1% unemployment rate combined with discourage workers and those working part time but looking for full time and the reduce weekly hours of those with jobs our true unemployment rate is around or above 20%! Ouch OUCH OUCH! 

Bruce Steinberg who writes a about unemployment www.brucesteinberg.net

The “Beige Book”, so named because of the color of the cover, reports on business activity in each of the 12 district banks. Perhaps the Fed should adopt the scale used by the Department of Homeland Security, which rates the terrorist threat level by green (low), blue (guarded), yellow (elevated), orange (high), and red (severe), for the report cover color. Below is an excerpt that details developments in sectors that many of our readers have business interests in:Demand continued to fall for professional services such as business consulting and accounting services, legal services, and other professional services in various Districts. However, Dallas noted a modest increase, albeit less-than-expected, in demand for legal services due to increased bankruptcy proceedings. Providers of information technology (IT) services in the Boston District saw a drop in activity on average, although some firms have sustained strong revenue growth; activity among providers of IT services was reported as stable to up in Kansas City, and Minneapolis reported that some IT services firms have seen solid demand from companies that are intent on using the technology to reduce costs. Demand for staffing services weakened considerably. Boston reported that outcomes for providers of temporary staffing services were “dismal,” with revenue declines in the range of 20 to 50 percent compared with twelve months earlier. Chicago and Dallas also reported sizable declines in activity by staffing firms, and New York noted that activity by a major employment agency has “virtually ground to a halt.”Mr. Steinberg is correct and so is the “Beige Book” about the declines in the staffing industry.  My work at NAPS www.recruitinglife.com supports the Fed’s summary.  And our members are experience several business challenges.

We here at Berman Larson Kane www.jobsbl.com continue to see the attendance of our weekly community service project webinars for the unemployed swell. We are lucky enough to have some great clients that keep us busy with projects in their pockets of growth.  Our contracting business continues to holds its own and our corporate transition coaching (BLK version of outplacement) continues to prosper.So once again I am thankful for our wonderful experience staff, great clients and our strong work ethic in these challenging times.  I always take the message from our new president “YES WE CAN” add wonderful value to the employment picture in our small way.

A net lose of 1.9 million jobs since September 08.  If we factor in the first two weeks of 09 I am sure we are well over a net lose of over 2 million jobs in a little over 4 months…OUCH….unemployment at 7.2% … and that does not count those working part time who want full time jobs, those under employed and those who have just pain given up looking for work…..I feel save in estimating the current true unemployment rate to be in double digits.  OUCH OUCH……. And this does not factor in several employers that had mandatory furloughs…..employers that close doors without pay for the holiday’s…..OUCH  OUCH OUCH

President-elect Obama I hope congress passes your stimulus package quickly and make job creation the primary focus….Are you sure your target of 3 million new jobs is large enough.  Borrow Borrow Borrow job creation must be number one priority of your administration.

Although we at Berman Larson Kane (www.jobsbl.com) are doing our best to help jobseekers locate new employment.  We remind or readers that we have over 100 job advice article on our webpage in the historical section of our newsletters and have live and on demand FREE job seeker webinars on our website to assist all job seekers. (https://jobsbl.com/jobs/coaching/webinars.php) . Put on your speakers to attend past webinars on demand or register for the next live session on January 15^th at 12 noon EST.

As for my predictions I am guardedly optimistic that this job recovery will be quicker that all believe.  I think the acceleration of the jobs recovery will be a reaction to the over cutting of staff that has taken place over the past 4 months.  Companies will need to add to staff with the slightest increase in capacity.  For all those that are unemployed/underemployed or discouraged employees I hope and pray that I am right this time.  Stay well and happy job hunting.

A net loss of 533,000 jobs in the month of November and this is without the auto industry closing.  And this is on top of a negative job growth number of 723,000 during the prior two months.  I am not a mathematician but that adds up to 1,256,000 jobs lost in this country in only a three-month period.  As you all know I have been in and around the employment business for over 30 years and I do not remember such a rapid slide in jobs.  And the government only just declared that we are officially in a recession.

Well the challenges here at BLK (www.jobsbl.com) have increased greatly with the greatest pressure being felt in our direct hire divisions.  Although the national trend is a decrease of around 14% for the temp business ours here at BLK is at a double-digit growth rate.  But the suspension of direct hires by many of our clients has lead to a few layoffs here as we unfortunately join the national averages.

As I lookout for a turning point our little microcosm here at BLK shows some of our client returning to a hiring mode in mid January.  Many of our other clients are waiting for sales reports and yearend closes to determine 2009 needs.  However my instincts point to some early life to the employment market in 09 once companies realize that they have over right sized staffs.

As a service to the recent masses of unemployed we at Berman Larson Kane will be sponsoring weekly lunch & learn webinars free of charge to the job seekers.   I am guardedly optimistic that the doom and gloom around us has been over projected.

Looking for a job? Looking for a safe investment? Looking for some positive news?

The Answer is “Saturday Night Live”. Some how their satires are becoming real.  Maybe Tina Fey is really the leader of our country?  Well enough silliness; let me share the job market realities from the BLK (www.bermanlarsonkane.com) world before I break into tears.

In our tiny universe we are experiencing a steady flow of contract and temporary assignments.  These orders are remarkably ahead of last years’ assignments by at least 10%.  The only explanation I can offer is companies need to fill certain skill shortages and temps/contractors/consultants are the solution to get the task completed without making a long-term commitment.  Budgets are tightening for new headcount, but temporary consultants help meet workflow without increasing headcount.

On a positive note our good clients continue to use us here at BLK for the few openings that they have and our research & recruiting staff are very proficient at finding the best sample that the market has to offer.  I thank our regular clients and we continue to find cost effective solutions to their personnel needs.

On the downside we are finding that although the number of job requirements placed with our firm remain constant,  that interview cycles are being extended, as the client needs to really justify every hire with a strong bottom line business need.  This has created slow down in new hires and direct placement revenue.

In today’s tight job market we are finding a steady demand for strong sales professionals as all clients look to increase sales and market share.  Skill shortages of mid-level accountants remain and I believe will increase as companies look for ways to save and account for every penny of expenses/revenue.  In the technology arena shortages remain for good system integrators & analysts, DBA’s, business intelligence and various programmers.  We are experiencing a cutback in administrative support, human resources and lease administrators.  The Pharma world although slowing down remains a bed of activity and competition for good clinical personnel.

As I look to lead BLK we remain highly focused on bringing the best and brightest talent to our clients openings.  This assures them a good return on their investment.  Since we all know human capital is the bedrock of all great companies in both good and bad times.

Thank you to all for your support….as a old bat this is the 4th major economic crisis I have faced in the past 30 years….the only reflection or insight I have to offer is “the crisis I am currently involve in is always the worst”.  Including prime at 20+% (1980) Stock Market crash (1987) Resolution Trust and Saving & Loan Failures (1992) and the technology storm (2000-2002) and of course the horror of 911.  We will survive and the supermarkets will have food to buy.  Thank God for Potato Chips and Saturday Night Live.

Holy Cow…How depressing are today’s job creation & unemployment numbers as reported in the New York Times

http://www.nytimes.com/2008/09/06/business/economy/06econ.html?ex=1378353600&en=fe70397b0574831f&ei=5124&partner=permalink&exprod=permalink

With the political conventions completed….the stock market tanking….layoff announcements rising. …car sales almost non-existent…..earnings evaporating……back to schools sales at lows……hurricanes brewing……but gas is down to $3.50 a gallon….I can’t believe I even consider 3.50 good news…

So what is happening here at Berman Larson Kane (www.jobsbl.com) …. Our orders for August closed off from 07 and our sales took a corresponding dip & these job creation numbers confirm the reason…..however since the summer is behind us and we returned to full blast on September 2^nd our great clients have placed some new orders with us….interviews delayed by summer vacations have returned to normal and I am optimistic that September sales here at BLK will exceed normal ranges.  We have several recruiting assignments that will help several people return to full employment.

Why I remain optimistic while the rest of the world is seemingly falling around us?  I have to believe that we can do it…Although the bad news is beginning to creep into our BLK universe, the BLK staff and myself are determined to forge ahead against great odds…and if there is any team that can accomplish our mission it is the talented BLK staff.  Our recruiters, research staff, talent pool and other services are top notch and our loyal clients continue to give as much work as possible.

Within the employment market several skill shortages have materialized and these openings have created a need for our recruiting services…Skills that are in demand SAS Programmers, C++ developers, LIMS Administrators, Compensation Analysts, Legal Assistants, Data Warehousing programmers and developers, .net developers, junior accountants and all workers that have experience in bankruptcies (sign of the times, sorry).

But the bottom line our economy is in the tank and our path out will come not come from tax cuts, not from lowering the prime, not from forgiving loans, not from bailing out the investment banks, not from ending the war and definitely not from import protectionism….The turnaround will begin with our new president….we need to revamp our ways, focus on becoming a green nation, move towards oil independents, our new growth or new economy and new businesses will rise from the need to protect our most precious resource OUR ENVIRONMENT. I believe our prosperity will come from our intellectual capital that this great country has a natural abundance…..We need to focus on our future today.