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Money Matters
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Old 01-08-2013, 01:04 PM   #1
ashpelham
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Very general, non-specific thoughts on US Job market?

Just like the title says, I'm looking for others comments related to the overall job market in the US. I'm fine if you want to include regional comments, industry-specific comments, anecdotal observations, so on and so forth.

I'll narrow my topic only to how your perception to job searching or job openings appears to you. I'll start:

No industry seems to be immune to oversupply and lack of demand of qualified candidates. Sales positions are aplenty, in high-turnover, non-salaried positions. In other words, lots of companies are "hiring" for no salary, no benefits, and see if you stick terms. Retail is so-so. If you're a newly graduated lawyer, good luck...Business majors are finding work as telemarketers. If you're older than 30, you're less appealing because it's assumed you have experience and want to be compensated accordingly. If you're an RN or LPN, the news is better. But these are education and training intensive positions. In other words, not easy to transition from another industry.

Thanks for playing along. I want to see if others are seeing what I'm seeing.
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Old 01-08-2013, 01:16 PM   #2
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The defense sector is about to get hurt HARD as will all the contractors. The DC market, which has largely been impregnable to the faltering job market will suddenly see thousands of recently unemployed individuals.. it will suck. And all those organizations that sell into either of those or work with either of them will struggle.
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Old 01-08-2013, 01:26 PM   #3
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Thanks for that tidbit about your local area. That's important to me, because Huntsville, AL, about 90 miles to the north and a market I visit on a weekly basis, is critically dependent on defense spending. Our fellow Americans need to realize that much of the wealth of the middle class has been dependent on government and government-dependent jobs, not entreprenuerial start-ups of free enterprise. Of course, I'm being generic with that statement; lots of great companies started from nothing and built to something substantial. Government cut backs will be crippling to be Huntsville.
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Old 01-08-2013, 01:34 PM   #4
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Quote:
Originally Posted by ashpelham View Post
Thanks for that tidbit about your local area. That's important to me, because Huntsville, AL, about 90 miles to the north and a market I visit on a weekly basis, is critically dependent on defense spending. Our fellow Americans need to realize that much of the wealth of the middle class has been dependent on government and government-dependent jobs, not entreprenuerial start-ups of free enterprise. Of course, I'm being generic with that statement; lots of great companies started from nothing and built to something substantial. Government cut backs will be crippling to be Huntsville.
This is fundamentally INCORRECT. Government spending should NEVER dictate economic growth and success and, if it is, it is a result of excessive growth (which, in this case, is correct).

To think that government spending (whether it be in healthcare or defense) can result in a sound, stable economy is inevitably incorrect as the private sector PAYS for the federal government's activities. If the size and growth of the government exceeds the private sector, it will not be able to financially sustain itself (which is what we're seeing now).

Our labor and housing markets are built on bubbles... the bubble collapsed but, like with the housing market and big banks, homeostasis was never reached because of government bailouts. This results in artificially "stable" pricing that is actually above real market value. All that has been accomplished since the 2008 crash is to delay the inevitable huge crash that will come.
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Old 01-09-2013, 12:23 AM   #5
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Id say its getting better. I know liberal arts graduates from 2012 who actually got jobs. I couldnt imagine finding a job as an accounting major in 2010 (it happened but by luck and over 200 custom cover letters).

In fact, I just got a job a couple months ago at a firm that wouldnt even look at my resume in 2010 (and they even told me this). Granted ive come a long way, but still. I woulda had competing offers if things were timed right too.

Edit: this is speaking in regards to northern and southern california. The tech industry seems to be steadily increasing up north. Not sure what finance is like but im sure its doing well over there too (san fran is basically wall st west). Down here in los angeles, manufacturing, retail and real estate seem to be picking up. Im not too sure how the entertainment industry is doing but it seems okay. Everyone seems to be recovering financially out in CA.

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Old 01-09-2013, 08:39 AM   #6
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I made the switch to RN and it was tough, but have been employed since 2009 in both government and civilian arenas. The tough job market has been a wake-up call to many in regards to decreasing debt and living below their means.
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Old 01-09-2013, 11:09 AM   #7
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I think it depends on the locale. If you are in a single sector community like autos then Lansing MI and Detroit will suffer. This is going to be true for a lot of other small towns that have a single major employer.

In the Dallas / Ft Worth area we are doing much better than average. There is a major IT presence here as well as banking and healthcare . There is a small naval air base here and a major manufacturing presence from Lockheed Martin, Bell Helicopter and many other govt contractors.

Real Estate values dropped a bit several years ago but we were never hit with home values dropping 20 and 25 percent in one year. It was never overpriced to begin with.

There has also been a boom in natural gas production in the last 10 years too.

Texas has a right to work law too.

Texas was also regarded as the best place in the country to do business. Reasonable regulations, no state income tax etc..

If you have a well balanced economy you are more likely to withstand a change in the economy. I think that every metro area has the same potential as Dallas / Ft Worth. It's all about regulation and taxation. The more you leave for the consumer and businessman , then the more money is returned to the economy. Which means more jobs, more taxes, more spending.........more jobs etc....
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Old 01-09-2013, 05:15 PM   #8
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The job market (and a person's potential to find a job in that market) depends on the industry and the qualifications of the individual. If I lost my job tomorrow I'd have another one making the equivalent pay (or better) within a month without much difficulty.
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Old 01-10-2013, 01:25 AM   #9
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Demand for experienced accountants/senior accountants and financial analysts/senior financial analysts is on fire right now. The demand drops off a lot as your exp/salary level get above $100k/yr. It's hard to get in with no exp but once you have 2-4 years of experience you'll have a lot of jobs to look at. My company has been trying to hire a senior financial analyst for over 4 months.
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Old 01-10-2013, 10:06 AM   #10
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Again, thanks for all the comments. I think 200_328 and I don't agree on government employment as it relates to a healthy economy, but agree to disagree. I'm not glossing it over either. So many industries claim to totally independent of government intervention, but if Uncle Sam ever stops spending like a drunken sailor, a lot of businesses that you never expected are going to fail. And more are going to fail than be born and flourish. That is a fundamental FACT. You simply cannot scale back or cut pieces of THE largest employer in an economy and not have that happen. So, for all the hand-wringing and griping by the GOP over "wasteful" government spending, of which there is plenty, when those cuts come, many of the same law firms, accounting practices, defense contractors, and even fast food joints, are going to slow down.

I always remind folks who are anti-big government, that private business, operating for a profit, will only enter businesses where they feel money can be made. If they are wrong, they leave the business. This leaves some holes in essential services that private business can't make profitable, that government then must step in to fill.

So, not trying to instigate a discussion on that topic really, and I am generally in favor of LESS spending and taxation, as most people are. But I also know that private business first and foremost is set up to make it's owners money. And once a private business becomes a publicly owned company, that drive becomes the number 1 focus, unfortunately.

Thanks to USCTrojanman29 and Keno for their input about Southern Cali. That's a place I have great career interest in, mainly because of the weather
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