Thursday, November 25, 2010
Friday, November 19, 2010
9 Insider Secrets to Getting Hired
Click on the link to to scroll through the website to read the 9 Insider Secrets to Getting Hired.
50 Buzzwords You Shouldn't Use on Your Resume
, On Wednesday November 17, 2010, 10:08 am EST
You've written your resume. You poured a lot of effort into the page that will represent you, and you can't wait to distribute it far and wide.
Not so fast. Before you send that puppy out, check it for buzzwords. Like "team player." Or "detail-oriented." Or "accustomed to fast-paced environments."
Here's why you should avoid them: They're vague. They make your resume look like everyone else's. They're probably not among the keywords employers search for. They take up space on your resume that could be used for strong, concrete, specific examples of what you've accomplished, the work you've produced, and how hiring you would benefit your potential employer. Buzzwords are tired and overused, cliches that have lost their meaning over time.
Most importantly, every buzzword is a lost opportunity.
You want your resume to stand out. The best way to sell yourself is to show, don't tell. Explain your accomplishments rather than spouting them off in trite ways.
So check your resume for these boilerplate words and phrases. If you find them, replace them--or at the very least, elaborate upon them--with real-life, specific examples.
1. Team player
2. Detailed-oriented
3. Proven track record of success
4. Experienced
5. Excellent communication skills
6. Leadership skills
7. Go-to person
8. Managed cross-functional teams
9. Exceptional organizational skills
10. Self-starter
11. Results-oriented professional
12. Bottom-line orientated
13. Works well with customers
14. Strong negotiation skills
15. Goal-oriented
16. People-person
17. Dynamic
18. Innovative
19. Proven ability
20. Top-flight
21. Motivated
22. Bottom-line focused
23. Responsible for
24. Assisted with
25. Skilled problem solver
26. Accustomed to fast-paced environments
27. Strong work ethic
28. Works well with all levels of staff
29. Met (or exceeded) expectations
30. Savvy business professional
31. Strong presentation skills
32. Looking for a challenging opportunity
33. Cutting-edge
34. Multi-tasker
35. Proactive
36. Seasoned professional
37. Perfectionist
38. Highly skilled
39. Functioned as
40. Duties included
41. Actions encompassed
42. Best-in-class
43. Strategic thinker
44. Trustworthy
[For more career advice, visit U.S. News Careers.]
45. Flexible
46. Works well under pressure
47. Quick learner
48. Partnered with others
49. Results-focused
50. Out-of-the-box thinker
Finally, here's one more phrase you don't need to include on your resume: "References furnished upon request." It's assumed that you'll offer references if the employer asks, so don't clutter your resume with those unnecessary words.
Saturday, October 16, 2010
More streamlined federal application process puts focus on your resume
Wednesday, October 13, 2010; 11:32 PM
Look for federal careers expert Derrick T. Dortch's column on government jobs on the second and fourth Thursdays of every month.
If you're interested in a federal government job, then no doubt you're aware that President Obama has ordered an overhaul of hiring practices.
Among the changes: a requirement that applicants respond to essay-style questions with their initial application is being eliminated; applicants will be able simply to submit resumes and cover letters or be asked to complete plain-language applications; and managers and supervisors with responsibility for hiring are to be more fully engaged in the process, from identifying the skills for a job to recruitment and the interview process. Until now, human resources handled it all, often without much input.
Though the deadline for initiating changes is Nov. 1, some agencies have already killed the essay questions, such as KSAs (Knowledge, Skills, and Abilities), ECQs (Executive Core Qualifications) and MAFs (Mandatory Assessment Factors), in the initial application. Other agencies have been slower to change.
What hasn't slowed is the level of competition for federal jobs. It's intense. Many announcements are getting thousands of applications. And with the elimination of the initial essay questions, those numbers are only going to increase. That means prospective hires are going to have to be even more on top of their game.
And in the federal job game, resumes are going to become even more important.
It's important to keep in mind that essay questions won't disappear. Many agencies are now asking people to address the KSAs within the resume itself.
Here's an example: A recent announcement for executive director, acquisition strategy and business relations, in the Office of the Assistant Secretary for Information and Technology for the Department of Veteran Affairs said this in the "How to Apply" section:
"To apply for this position, you must provide a complete Application Package, which includes all of the following parts. 1) Resume which demonstrates your experience, accomplishment, training, education and awards reflecting your ability to meet each of the mandatory technical and executive core qualification requirement(s) for this position. Elaborate on your experience and accomplishments, highlighting your level of responsibilities, scope and complexity of programs managed, work objectives met (the results of your effort), policy initiatives, and level of contacts. Ensure your resume does not exceed five (5) pages. Information beyond the five page resume will not be evaluated. Do not submit the application form OF-612, Optional Application for Federal Employment in lieu of a resume. Do not submit separate narrative responses to address the technical and executive core qualifications."
This means that your resume can't be one or two pages, as is often the case in the private sector. It also means that the resume can't just be a job-descriptive sheet filled with keywords.
I see many clients who have resumes that read like job descriptions, with strategically placed keywords from a job announcement. There is nothing wrong with using keywords, but they're not the formula for a winning strategy. Your resume must include relevant success stories.
If 100 to 400 people have used the same keyword strategy, what makes you stand apart? What really sells you is telling relevant success stories and showing what you have achieved. Those are the kind of details that will show your potential for future success.
There are many more reasons why your resume is going to become more important to the federal job search. Look for more tips in my next column.
Note: Previously I mentioned a site from the Partnership for Public Service that focuses on internships. The site is at www.makingthedifference.org.
Tuesday, September 14, 2010
Future Leaders | The Female Touch
Are you aiming to climb the corporate ladder?
If you’ve recently graduated in Engineering, Science or Business, or have a few years of experience in a leading company, then top players are waiting to meet you.
If you’ve recently graduated in Engineering, Science or Business, or have a few years of experience in a leading company, then top players are waiting to meet you.
Join us in CaeersinEurope.com, for two days of interviews with international recruiters and workshops on personal and professional development. Help shape tomorrow’s business.
An exclusive event, by invitation only. Free accommodation.
An exclusive event, by invitation only. Free accommodation.
Participating Companies
Partners
- AEGEE
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- EESTEC
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- European Voice
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- IEEE
- Jump
- Jobguide
- Karriereführer
- Le Monde
- Références
- The Economist
- Vacature
- Zukx - Campus2Company
Tuesday, August 24, 2010
How to Deal With a Bad Boss: Don't!
By Steve Tobak | August 23, 2010
Don’t get me wrong. Examining bad management behavior is the only way to improve it. And there are times when we can all use a little help learning to cope with a dysfunctional boss. That said, most blogs on bad bosses quickly deteriorate into whine-fests that sound remarkably like children crying about how their parents are mean and just don’t get it.
Well, I’ve got news for you. When you behave like a victim, wallow in self pity, or act like you’re entitled to something better, not only does it do you no good, but you may end up getting yourself fired or doing real harm to your career. To help you avoid that, here’s a dose of reality about dealing with problem bosses:
- If you go head-to-head with your boss, you’ll lose. In What They Don’t Teach You in Harvard Business School, Mark McCormack describes a situation where an employee got into a heated exchange with his boss and got himself fired. “No matter how wrong or intemperate his boss might have been, that, unfortunately, was now a nonissue. The situation did not reflect well on this particular employee’s boss — but his boss still had a job.”
- You actually have choices; exercise them. That’s right, you can’t pick your boss, but if you don’t like him, it’s a free country, you can quit. If youEdit HTML like or need your job, on the other hand, then get over yourself and suck it up. The choice is yours. But if you decide to go over your boss’s head or to HR, don’t be surprised if it ends badly for you. You may not want to hear this, but from the company’s viewpoint, you’re just a thin-skinned troublemaker who they’d just as soon not have to deal with.
- Did it ever occur to you that it may be you? I’m not trying to burst your bubble here, but maybe you’re not god’s gift to bosses. Maybe the boss would be more relieved to get rid of you than you are to get rid of him. Sure, nobody thinks he’s a rotten employee, but they’re out there, and in far greater numbers than rotten bosses. So, if you actually like or need your job, you might want to take a long look in the mirror before you do anything drastic.
- Burned bridges have a way of piling up. Maybe you’re young and carefree now, but the choices you make and the behavior you exhibit today will follow you throughout your career. More and more, employers are checking references you don’t provide, and a few little red flags can add up to one big red flag that says, “don’t hire this guy.” The truth is, if you burn enough bridges, you may very well find yourself all alone on an island somewhere with nobody else in sight. No bosses, and no jobs, either.
Bottom line: Look, I’ve had more than my fair share of dysfunctional and abusive bosses, so I don’t mean to appear insensitive to what employees of crappy bosses really go through every day. Still, if you act subjectively without gaining some perspective, you may end up making things even worse for yourself. Just remember, you always have a choice. You can always quit.
Also check out:
- How to Survive a Dysfunctional Boss
- Do You Have a Dysfunctional Workplace?
- Work Stress Can Kill You - Don’t Let It
Friday, August 20, 2010
The 7 Interview Questions You Must Ask
I attended a ProLango Consulting "Interviewing Mastery" seminar recently and one of the most important thins that I learned is to make the interview about the prospective employee and less about yourself. Try to determine why they are hiring to fill the position, what challenges the company is currently facing, and then discuss how you can make a difference.
Read the article below from BNET on "Job Interview Questions"
=========================================
The 7 Interview Questions You Must Ask
By Brian Libby | February 27, 2007There are no magic bullets when it comes to job interview questions, but the way you structure your queries is important: It's the interviewer's job to create a framework for the discussion and prevent it from running off the rails. Every company's needs are different, but a good basic strategy is to ground the interview in questions about past job performance. Then throw in some situational questions to evaluate practical decision making, and learn a little bit about how the job fits in with a candidate's biography.
Question #1: "How about those Yankees?"
Purpose: Develop the rapport needed to get the interview off the ground.Every interview should begin with an icebreaker. It helps nervous applicants calm down and builds a sense of trust. If you have a 45-minute interview, you should spend at least the first five minutes trying to connect on a neutral topic. Make the person feel at ease and you'll solicit better information—and much more honest responses.
Alternate Version 1: "Did you go to the industry conference last week?"
Alternate Version 2: "Were you affected by the heat wave/cold snap?"
Alternate Version 3: "Did you have a good holiday?"
Question #2: "Talk about a time when you had to overcome major obstacles."
Purpose: Get a clear picture of the candidate's past performance.Variations on this question should actually comprise your next several questions. Don't hesitate to guide the candidate through the variety of tasks (both tangible and theoretical) necessary to perform the job, and listen carefully to how he or she has handled such challenges. Pay attention to intangibles: some people are better at performing in interviews than on the job. If your candidate continually plays the role of hero or victim, that's a red flag that you're probably not getting the whole story.
Alternate Version 1: "Tell me about a time when you wrote a report that was well received. Why do you think it was successful?"
Alternate Version 2: "Describe a time when you hired (or fired) the wrong person."
Alternate Version 3: "If you had to do that activity again, how would you do it differently?"
Question #3: "What interests you about this position?"
Purpose: Find out how the candidate feels about the job and the company.People apply for jobs for plenty reasons besides the obvious ones. Asking a candidate why he or she wants the position gives insight into their motivation. The answer may be personal (such as a narrative about what spurred them to seek a new job), or it may connect the candidate to the company: her experience with the brand, the mission statement, or the organization's role in the community. Any of these answers (or some combination) are acceptable—a personal answer can communicate trust, and a connection to the business indicates loyalty and a sense of ownership.
Alternate Version 1: "Where does this job fit into your career path?"
Alternate Version 2: "If you had to convince a friend or colleague to apply for this job, what might you tell them?"
Alternate Version 3: "What motivated you to apply for this job?"
Question #4: "Is there intelligent life in outer space?"
Purpose: Find out what kind of thinker the candidate is and how he deals with surprises.This is your curveball, designed to make the candidate ad-lib instead of just reciting well-rehearsed answers. How much will he or she play along? As long as it's not too short or too long, virtually any response is a good one. But pay attention to attitude, the way the candidate approaches the problem, and the ease or difficulty they have in coming up with a response.
Alternate Version 1: "How many phone books are there in New York City?"
Alternate Version 2: "How do they get the cream filling inside a Twinkie?"
Alternate Version 3: "Why do people climb mountains?"
Question #5: "Imagine we've just hired you. What's the most important thing on your to-do list on the first day of work?"
Purpose: Learn about the candidate's judgment and decision-making skills.This is an example of a situational question, which is like a behavioral question in that it's designed to assess judgment, but it's also like a curveball question because it illuminates the candidate's thought process. You want to see whether he demonstrates the competencies and priorities that are important to the job.
Alternate Version 1: "Say a coworker tells you that he submitted phony expense account receipts. Do you tell your boss?"
Alternate Version 2: "How would you handle an employee whose performance is fine but who you know has the potential to do better?"
Alternate Version 3: "What would you do if you got behind schedule with your part of a project?"
Question #6: "Why did you get into this line of work?"
Purpose: Measure the fit between the candidate's values and the culture of your company.It risks a long, drawn-out answer, but this type of question will help you select candidates that fit your company's culture. It's not about finding people like you, or people with similar backgrounds that led them to your company, but about getting a sense of their values and motivations. Concepts like values and culture can be subjective and difficult to define, but you should be looking for someone whose work ethic, motivations, and methods match the company's. This isn't a quantitative measurement so much as a qualitative one. Coke and Pepsi may seem the same to people outside the soft-drink industry, but each houses people with different approaches to making cola and running a business. Alternate Version 1: "What do you like best about your current job?"
Alternate Version 2: "When did you realize this would be your career?"
Alternate Version 3: "What keeps you coming to work besides the paycheck?"
Question #7: "But enough about you. What about us?"
Purpose: Find out if the candidate has done his or her homework.It's a cliché to end an interview with the standard, 'So, any questions?' But the fact remains that you really do want to let the candidate ask a few things of you. Reversing roles communicates that the company seeks an open a dialogue, and it helps you ascertain just how curious and knowledgeable a candidate is about your company. If he doesn't ask any questions about the job or the business, it's a safe bet his heart isn't in it. Listen for insightful questions that demonstrate a sophisticated understanding of the circumstances of the job, the company, the competitive landscape, or the industry. Alternate Version 1: "Where do you think the company should be in ten years?"
Alternate Version 2: "What's your opinion of our new product?"
Alternate Version 3: "Have you seen the company's new ad campaign?"
More on BNET:
Seven Ways to Flunk a Job Interview
By Adriana Gardella | January 6, 2010
You don’t need interview advice, right? After all, you’ve got stellar credentials and years — maybe even decades — of work experience. To be completely honest, you’re actually overqualified for the job. In fact, you shouldn’t even have to interview.
Stop right there! In this age of shrinking workforces and shuttering businesses, you’ve also got plenty of equally qualified company. And when was the last time you interviewed? Chances are, those skills could use a little polish. Fear not. But make sure you don’t throw yourself out of the race by committing one of these common — and fatal — faux pas.
Mistake #1: Drop your guard in front of “the help.”
Interviewing is stressful. Sometimes you just want to explode. But don’t. At least not in front of anyone who could influence the hiring decision. Ron Panaggio, regional HR manager for security systems provider SimplexGrinnell recalls one candidate who took himself out of the running when he thought no one was looking. After meeting with Mr. X, a strong contender, Panaggio, who was then working for Emery Worldwide in New York, asked the receptionist who greeted the candidate to share her impressions. Turns out, Mr. X had launched into a profanity-laced tirade about the company’s lack of visitor parking spaces. Panaggio notes that although the guy may have had a point — the parking situation wasn’t ideal — his delivery, and his questionable decision to attack his would-be employer set off warning signals. “If he was that critical about parking, we could only imagine how he was going to react to substantive policies that he disliked,” says Panaggio. Employers know that job seekers interact with receptionists and other support staffers — often with their guards down. “They don’t see those people as decision makers, so they tend to be more genuine in their interactions with them,” says Panaggio. But employers routinely ask these employees for feedback. “We like to see whether the interview persona matches the unscripted persona that walks through the door,” says Panaggio. Consider that the next time you’re waiting for a tardy interviewer (who’s probably busy and making do with a reduced staff).Mistake #2: Over share.
Candidates worried about explaining employment gaps on their resumes have been getting way too personal, says Wanda Cole-Frieman, an executive recruiter for Blue Shield of California. While she enjoys building rapport with the applicants she meets, certain topics are off-limits — or should be. They include descriptions of your medical conditions and information about your sick parents or childcare woes. It’s not just a matter of propriety. Chatty candidates put interviewers in an awkward position when they raise issues that could identify them as members of a legally protected class. Cole-Frieman recalls that one of her colleagues was forced to contact the legal department for guidance after a candidate announced that he used marijuana for medical purposes. The legal drug use wasn’t a dealbreaker, but raising such issues won’t endear you to interviewers. “We’re trained to say, ‘Thanks for sharing, but Blue Shield doesn’t consider those factors in its hiring decisions,’” says Cole-Frieman.Mistake #3: Assume your resume speaks for itself.
Your resume may have helped you get the interview, but it won’t get you hired. Susan Strayer, a career coach who also works in corporate HR for a Fortune 500 company, urges job seekers to go out of their way to connect the dots for interviewers, highlighting their work experiences with stories that clearly describe what they accomplished in each role and how it relates to the position they are seeking. Don’t assume that your interviewer is familiar with obscure acronyms and non-intuitive job titles that have no significance outside the organizations that use them. Strayer recalls meeting with an unsuccessful candidate who breezed through his resume, touting his “A-76 experience,” a term that meant nothing to her at the time, and never pausing to explain it. Strayer says he would have been better-served by taking a moment to add, “If you’re not familiar with A-76, it’s a government mandate to ensure tasks are performed in the most cost-efficient way. My role on the A-76 project was to...”Mistake #4: Show the interviewer how important you are.
You’ve got places to go and people to see — we get it, you’re a big deal. But when an employer has taken the time to meet with you, your undivided attention is a must. “You’d think it was a joke, but employers tell us about candidates who check voicemail and e-mail, text, and even take phone calls during the interview,” says Corinne Gregory, president of Social Smarts, a program that teaches social skills, primarily to young people. Note to Gen-Yers (and iPhone addicts of all ages): Acing the interview is your primary mission. If you lack the impulse control to keep your hands off your phone, leave it behind.Mistake #5: Talk the employer out of hiring you.
Especially in this tight job market, you may find yourself interviewing for positions you would ordinarily consider beneath you. That’s what happened to Russ Merbeth, now an attorney with Integra Telecom when he applied for an in-house counsel position with another company. During two days of interviews, Merbeth says he expressed his doubts about the position, which he viewed as poorly conceived and not perfectly suited to his talents. “I basically rewrote the job description for them,” he says. Not surprisingly, they hired someone else. While Merbeth’s story ended happily — eventually — he would have been wiser to keep his options open. “Always close strong, and get the job,” he says. “You can reject it later.” It’s advice you likely won’t hear from recruiters, but then they’ve already got a job.Mistake #6: Stalk your recruiter.
There’s a fine line between enthusiastic and desperate, and you don’t want to cross it. Human resources consultant Jessica Miller-Merrell was impressed following her interview of a VP-level candidate for a position with OfficeMax, where she worked at the time. The guy was one of two finalists for the job — until the phone calls. Two days after the interview, Miller-Merrell was out of the office, attending an all-day training. She had forwarded her office calls to her cell phone and noticed 15 hang-ups, all from the once promising candidate. Though he finally left a message (about a matter so trivial that Miller-Merrell can’t remember its substance) the obsessive hang-ups left a negative impression on her. “Someone at this level should be able to maintain composure and professionalism at all times,” she says.Mistake #7: Treat social media communications casually.
These days, many employment relationships begin — or end — with social media. To ensure that yours falls into the former category, heed this tale. Mark Sullivan, director of talent acquisition for Time Warner Cable in Austin, Texas, posted a link to a Senior VP-level job description that he needed to fill on LinkedIn. Among the candidates who responded, was a woman who wrote, “Dear Mark, That link don’t[sic] work.” Her next sentence began with a lowercase letter and was missing a crucial “the.” “Whether you’re using Facebook, Twitter, LinkedIn, or instant or text messaging, you still have to be professional in every communication related to your job search,” says Sullivan. So, keep yourself in the running by proofreading before you hit “send.” More on BNET:Saturday, July 3, 2010
Closing Deadline Extended to Sept. 30 for Eligible Homebuyer Credit Purchases
Issue Number: IR-2010-080
Inside This Issue
Closing Deadline Extended to Sept. 30 for Eligible Homebuyer Credit Purchases
WASHINGTON — Eligible taxpayers who contracted to buy a home, qualifying for the first-time homebuyer credit, before the end of April now have until Sept. 30, 2010 to close the deal, according to the Internal Revenue Service.
The Homebuyer Assistance and Improvement Act of 2010, signed by the President today, extended the closing deadline from June 30 to Sept. 30 for any eligible homebuyer who entered into a binding purchase contract on or before April 30 to close on the purchase of the home on or before June 30, 2010. The new law addresses concerns that many homebuyers might be unable to meet the original June 30 closing deadline.
The IRS reminds taxpayers that special filing and documentation requirements apply to anyone claiming the homebuyer credit. To avoid refund delays, those who entered into a purchase contract on or before April 30, but closed after that date, should attach to their return a copy of the pages from the signed contract showing all parties' names and signatures if required by local law, the property address, the purchase price, and the date of the contract.
Besides filling out Form 5405, First-Time Homebuyer Credit and Repayment of the Credit, all eligible homebuyers must also include with their return one of the following documents:
- A copy of the settlement statement showing all parties' names and signatures if required by local law, property address, sales price, and date of purchase. Normally, this is the properly executed Form HUD-1, Settlement Statement.
- For mobile home purchasers who are unable to get a settlement statement, a copy of the executed retail sales contract showing all parties' names and signatures, property address, purchase price and date of purchase.
- For a newly constructed home where a settlement statement is not available, a copy of the certificate of occupancy showing the owner’s name, property address and date of the certificate.
Besides providing a tax benefit to first-time homebuyers and purchasers who haven’t owned homes in recent years, the law allows a long-time resident of the same main home to claim the credit if they purchase a new principal residence. To qualify, eligible taxpayers must show that they lived in their old homes for a five-consecutive-year period during the eight-year period ending on the purchase date of the new home. Homebuyers claiming this credit can avoid refund delays by attaching documentation covering the five-consecutive-year period:
- Form 1098, Mortgage Interest Statement, or substitute mortgage interest statements,
- Property tax records or
- Homeowner’s insurance records.
There are three options for claiming the credit on a qualifying 2010 purchase:
- If a 2009 return has not yet been filed, claim it on Form 1040 for tax-year 2009. Though these returns cannot be filed electronically, taxpayers can still use IRS Free File to prepare their return. The returns must be printed out and sent to the IRS, along with all required documentation. The IRS urges taxpayers claiming refunds to choose direct deposit.
- If a 2009 return has already been filed, claim it on an amended return using Form 1040X.
- Whether or not a 2009 return has been filed, wait until next year and claim it on a 2010 Form 1040.
More details on claiming the credit can be found in the instructions to Form 5405, as well as on the First-Time Homebuyer Credit page on IRS.gov.
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Tuesday, January 12, 2010
Make Mine a $ Million Business - Webinar Reminders
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Upcoming Webinars
Wednesday January 27, 2010: Start With Why
with Count Me In Expert Simon Sinek, renowned Leadership Expert and Author of Start With Why.
with Count Me In Expert Simon Sinek, renowned Leadership Expert and Author of Start With Why.
Wednesday February 3, 2010: Steps to Attracting Financing with Count Me In Experts Mary Beth Shewan and Bill Dueease.
Wednesday February 10, 2010: Sell to the Choir with the Founder and Leader of Maverick & Company, Alecia Huck.
Saturday, January 2, 2010
For 2010, little improvement seen in job market
U.S. economy to grow too slowly to create many jobs, forecasters say
By Rex Nutting, MarketWatch
This is an update to correct the affilation of David Levy, who is chairman of the Jerome Levy Forecasting Center.
WASHINGTON (MarketWatch) -- The U.S. economy is limping -- not sprinting -- out of the Great Recession of 2008 and 2009.
While the economy is likely to grow at a steady but unspectacular 3% pace in 2010, the prospects for significant job growth are dim and the unemployment rate could still be in the 10% neighborhood at this time next year, economists say.
Growth of 3% would be far slower than is usual after a steep recession (the economy grew nearly 10% in the year following the 1958 recession), but it would be slightly stronger than the 2.8% average of the past 20 years.
Above-trend growth "never felt so bad," wrote economists at JP Morgan Chase. "Growth will not be boomy. And growth will not go far in returning the economy to healthy levels of activity."
Still, it's expected that the economy will begin to create some jobs again in 2010, after two years of month-after-month declines that -- including anticipated downward revisions -- total a loss of more 8 million jobs.
According to the median forecast of economists surveyed by Blue Chip Economics, about 1.1 million nonfarm payroll jobs will be created next year. The consensus expects the unemployment rate to be 9.9% a year from now.
Read more:
http://www.marketwatch.com/story/little-improvement-seen-in-job-market-in-2010-2009-12-24
By Rex Nutting, MarketWatch
This is an update to correct the affilation of David Levy, who is chairman of the Jerome Levy Forecasting Center.
WASHINGTON (MarketWatch) -- The U.S. economy is limping -- not sprinting -- out of the Great Recession of 2008 and 2009.
While the economy is likely to grow at a steady but unspectacular 3% pace in 2010, the prospects for significant job growth are dim and the unemployment rate could still be in the 10% neighborhood at this time next year, economists say.
Growth of 3% would be far slower than is usual after a steep recession (the economy grew nearly 10% in the year following the 1958 recession), but it would be slightly stronger than the 2.8% average of the past 20 years.
Above-trend growth "never felt so bad," wrote economists at JP Morgan Chase. "Growth will not be boomy. And growth will not go far in returning the economy to healthy levels of activity."
Still, it's expected that the economy will begin to create some jobs again in 2010, after two years of month-after-month declines that -- including anticipated downward revisions -- total a loss of more 8 million jobs.
According to the median forecast of economists surveyed by Blue Chip Economics, about 1.1 million nonfarm payroll jobs will be created next year. The consensus expects the unemployment rate to be 9.9% a year from now.
Read more:
http://www.marketwatch.com/story/little-improvement-seen-in-job-market-in-2010-2009-12-24
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