{"id":2043,"date":"2009-06-06T10:30:00","date_gmt":"2009-06-06T15:30:00","guid":{"rendered":"http:\/\/selectmetrix.com\/blogs\/2009\/06\/the-pain-of-a-lagging-indicator\/"},"modified":"2009-06-06T10:24:13","modified_gmt":"2009-06-06T15:24:13","slug":"the-pain-of-a-lagging-indicator","status":"publish","type":"post","link":"http:\/\/selectmetrix.com\/blogs\/2009\/06\/the-pain-of-a-lagging-indicator\/","title":{"rendered":"The Pain Of A Lagging Indicator"},"content":{"rendered":"<p>Hiring, that is, and it appears that it is going to be an even rougher road over the back half of 2009.\u00a0 If you are in the recruiting, hiring, assessing business you are aware of this fact.\u00a0 9.4% unemployment is remarkable.\u00a0 <a href=\"http:\/\/abcnews.go.com\/Business\/JobClub\/Story?id=7757701&amp;page=1\" target=\"_blank\">From abcnews.com<\/a>:<\/p>\n<blockquote><p>The percentage of people without jobs in this country is now at the highest point in nearly 26 years. Every month since January 2008 we have seen jobs disappear.<\/p>\n<p>So far the economy has shed 6 million jobs since the recession started push (<em>sic<\/em>) employers to start handing out pink slips.<\/p><\/blockquote>\n<p>I\u2019m still looking for the report that lists the number of jobs \u201csaved\u201d by the stimulus package.\u00a0 I suspect I will have to wait a bit longer for that information.\u00a0 But fear not, the bleeding does seem to be slowing down:<\/p>\n<blockquote><p>The Labor Department this morning announced that another 345,000 Americans lost their jobs last month, pushing the unemployment rate up from 8.9 percent in April. Economists had expected a loss of 550,000 jobs and the news that significantly less were lost initially shot the stock market up.<\/p><\/blockquote>\n<p>Again, more economists with an inaccurate prediction.\u00a0 I dare say the economy is too dynamic, too multi-faceted for any one person to accurately predict\u2026much like the weather.\u00a0 Yet, here is a development for which I was unaware (emphasis mine):<\/p>\n<blockquote><p>The (EEOC) commission received an unprecedented 95,402 complaints during a 12-month period ending in October. That&#8217;s up 15 percent from the prior year. Of those, 24,582 are charges of age discrimination, <strong>a massive 29 percent increase<\/strong>.<\/p><\/blockquote>\n<p>I think most of us know that companies often use down markets to purge employees whether deserving or not.\u00a0 A recessionary economy provides cover for companies to layoff workers from a protected class with less liability.\u00a0 I\u2019m not condoning the practice, just being brutally honest.<\/p>\n<p>This uptick in complaints seems to support this unwritten business practice.\u00a0 I think an aspect that the reporter did not address is the overall aging of the workforce.\u00a0 If the Boomers are the majority of the workforce, there stands to reason that there will be a continued increase in age discrimination charges simply based on the numbers.\u00a0 That data would have provided a needed context to the article.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Hiring, that is, and it appears that it is going to be an even rougher road over the back half of 2009.\u00a0 If you are in the recruiting, hiring, assessing business you are aware of this fact.\u00a0 9.4% unemployment is remarkable.\u00a0 From abcnews.com: The percentage of people without jobs in this country is now at the highest point in nearly 26 years. Every month since January 2008 we have seen jobs disappear. So far the economy has shed 6 million jobs since the recession started push (sic) employers to start handing out pink slips. I\u2019m still looking for the report that lists the number of jobs \u201csaved\u201d by the stimulus&hellip; <a class=\"read-more\" href=\"http:\/\/selectmetrix.com\/blogs\/2009\/06\/the-pain-of-a-lagging-indicator\/\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"bgseo_title":"","bgseo_description":"","bgseo_robots_index":"","bgseo_robots_follow":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_hide_featured_image":false,"_jetpack_featured_image_duplicate_dismissed":0,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[49,29,2,5],"tags":[1340,49,1748,50,1341,757],"class_list":["post-2043","post","type-post","status-publish","format-standard","hentry","category-economy","category-generations","category-hiring","category-trends","tag-age-discrimination","tag-economy","tag-hiring","tag-hiring-trend","tag-jobless-rate","tag-unemployment-rate"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p5Oho-wX","jetpack-related-posts":[{"id":2381,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/07\/the-unanswered-question\/","url_meta":{"origin":2043,"position":0},"title":"The Unanswered Question","author":"Derrick Moe","date":"July 15, 2010","format":false,"excerpt":"Take a look at this headline from Twin Cities Business: MN June Unemployment Rate Drops, Sheds 3,700 Jobs Jobs are lost and the unemployment rate decreases\u2026how can this be?\u00a0 It is a question that begs an answer, yet you won\u2019t find it in this article.\u00a0 The closest it comes: Minnesota\u2019s\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1272,"url":"http:\/\/selectmetrix.com\/blogs\/2007\/11\/hiring-remains-strong\/","url_meta":{"origin":2043,"position":1},"title":"Hiring Remains Strong","author":"Derrick Moe","date":"November 2, 2007","format":false,"excerpt":"The latest numbers are out and the experts are...drumroll please...\"surprised.\" From Reuters: Employers added a surprisingly strong 166,000 new non-farm jobs in October, well ahead of forecasts in an early sign that consumer incomes may be better supported than thought heading into the fourth quarter, according to a government report\u2026","rel":"","context":"In &quot;Hiring&quot;","block_context":{"text":"Hiring","link":"http:\/\/selectmetrix.com\/blogs\/category\/hiring\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2278,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/02\/hiring-time\/","url_meta":{"origin":2043,"position":2},"title":"Hiring Time","author":"Derrick Moe","date":"February 24, 2010","format":false,"excerpt":"According to this CNNMoney.com article, 2010 hiring will be steady and growing (emphasis mine): \"We see a healthy expansion under way, although it will take time to reduce economic slack and repair damaged balance sheets,\" said Lynn Reaser, president of the National Association for Business Economics, which conducted the survey\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2349,"url":"http:\/\/selectmetrix.com\/blogs\/2010\/06\/employment-still-lagging\/","url_meta":{"origin":2043,"position":3},"title":"Employment Still Lagging","author":"Derrick Moe","date":"June 4, 2010","format":false,"excerpt":"The latest employment numbers are out and it doesn\u2019t look good (emphasis mine). US employers added 430,000 jobs to nonfarm payrolls in May, but 411,000 of those were temporary census workers. That number was also well short of the more than 500,000 economists had expected. The unemployment rate, however, fell\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2173,"url":"http:\/\/selectmetrix.com\/blogs\/2009\/11\/when-will-it-end\/","url_meta":{"origin":2043,"position":4},"title":"When Will It End?","author":"Derrick Moe","date":"November 23, 2009","format":false,"excerpt":"The Great Recession roars on during this holiday season.\u00a0 Our company is focused on sales hiring, both assessing candidates for our customers and running full recruiting processes.\u00a0 The hiring outlook is of great importance to us and a topic I try to track closely. That being said, this abcnews.com article\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1851,"url":"http:\/\/selectmetrix.com\/blogs\/2009\/01\/where-the-jobs-arent\/","url_meta":{"origin":2043,"position":5},"title":"Where The Jobs Aren&#8217;t","author":"Derrick Moe","date":"January 19, 2009","format":false,"excerpt":"When the economy is in a downturn, most people wonder when will it bottom out.\u00a0 I\u2019m not sure if we have bottomed yet or not, but Yahoo has a quick story listing the 5 cities that will lose the most jobs this year (speculative, of course): The New York area\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"http:\/\/selectmetrix.com\/blogs\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_featured_media_url":"","_links":{"self":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2043","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/comments?post=2043"}],"version-history":[{"count":1,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2043\/revisions"}],"predecessor-version":[{"id":2044,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/posts\/2043\/revisions\/2044"}],"wp:attachment":[{"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/media?parent=2043"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/categories?post=2043"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/selectmetrix.com\/blogs\/wp-json\/wp\/v2\/tags?post=2043"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<!-- WP Super Cache is installed but broken. 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