Third Quarter 2014 Hirings, Firings, Layoffs, Resignations By The Numbers

2014 beings the year business as usual adding many new workers to Career Purgatory. Read about the First Quarter of 2014 here.  Second Quarter 2014 recap here.

One of the top news stories of the early third quarter is that one of the fad food trends cupcakes is looking close to dead with the collapse of Crumbs Bake Shop.  One of the more noticable trends is that of supposed technology companies cutting thousands of jobs this year.  Remember all the ones that your political representatives wanted to create in your region? Yea those companies just axed 48,000 jobs:

The good news is that the GDP is grew at an estimated 4%  in the second quarter which is much better than anyone had expected.

Hiring:

Volkswagen- Is going to build a new production plant in Tennessee and create 2,000 jobs along the way.

Layoffs:

Crumbs Bake Shop – All locations of the publicly traded company are closed.  It had a peak of 200 full time employees and 650 part time employees.

 Amgen – the biotech company is closing 2 plants and will cut nearly 15% of its workforce which works out to about 2,900 jobs.

 World Wrestling Entertainment Inc – Announced that it was going to cut 7 percent of its workforce, or about 53 jobs based on the 762 employees WWE reported earlier in the year.

Cisco Systems – cutting 6,000 jobs which is about 8% of the global workforce.  In the last 5 years alone the company has cut 20,000 jobs.

Like this type of format? We’ve been doing it for a handful of years.

2013 Recap of First Quarter, Second Quarter, Third Quarter, and Fourth Quarter reports.

For 2012 coverage check out First Quarter, Second Quarter, Third Quarter and Fourth Quarter reports.

For 2011 coverage check out our First, Second, Third and Fourth Quarter reports.

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The Missing Link between The Great Depression and the Great Recession

Prior to the Great Depression in the United States the American education system had a maximum grade achievable of 8.  In The Great Depression this education was increased to 12th grade and high school was created a necessary step to complete your education.

One of the pushes for “furthering our education” was to delay the next generation from entering the labor force. There wasn’t enough work for people already in the labor force much less the room for an influx of new labor. This gave the labor market a 4 year reprieve to allow a more expedient recovery of the unemployment rate. The World War is given the credit for ending the Great Depression but it didn’t do it without this 4 year delay.

Naturally this extension of education was an economic stimulus of sorts to the education system as well. This generated the need for more schools, teachers, etc.

With the fallout of the economy and the rise of the Recession we’re seeing parallel trends. A bachelors degree used to be something to be impressed by when a employer sees it on a resume. Now the government champions college as the best step you can take when you graduate high school. This propaganda has merely stretched the standard of education to slow the tide of the inbound labor force. Its hard to miss the parallels between the Recession and Great Depression.

The degree is becoming a box to be checked when you apply without much more thought given. In a similar but related occurrence is the prevalent trend of young people extending their college experience out beyond a bachelors degree and now opting for dual degree programs or Masters.  If you can’t find a job the next best excuse is to be in school.

Many people have mistaken this as a sound choice. In reality this is just fueling the education bubble.

The only real difference in this mirror is that unlike The Great Depression the next crop of the workforce is also burdened with the cost of this educational extension through high cost student loans.

 

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SMART bus worker discrimination case drags on

This poor worker at Metro Detroit’s SMART bus depot was being discriminated and however you want to put it working in a hostile work environment.  He can’t catch a break.

Fox 2 News Headlines

SMART has spend $315,000 and counting fighting the lawsuit, which is almost the amount they could have paid and been done with this case 10 years ago.

Ironically the employee that had been doing most of the harassment was only fired after he threatened the President of the United States of America.

It just goes to show that if you can ever settle an employment lawsuit its probably better and cheaper for everyone.

Watch the Fox 2 News report.

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Why go to College?

There are a number of reasons why people decide to go to college. College has been overly hyped and is no longer just a vehicle to a better job. People go to college for all of the wrong reasons. This could be due to colleges trying to market how great the college such as sports, clubs, the college life, etc. Realistically none of this is why you should go to college.

College is an investment and like any good investment you should look for the best bang for your buck. If you remove all of the other stuff like emotions, glorified college experiences, preconceived notions of college and other reasons for why you would choose to go to one place over another then it comes down to money.

When in high school all high school counselors tell you to get a scholarship, apply for grant money, etc. We all know its not that simple and in these days with the price of college going through the roof most scholarships are not going to cover the full cost of college anyway.

You really only have two choices when choosing to go to college which is to work and pay for college or to take out loans for the full thing and deal with the consequences later. In theory, if you wanted to get the full college experience you would go with the latter and enjoy college to the fullest and deal with your debt when you have a degree that will help you pay back your loans with a good job. Maybe in the good old days this was a viable option but the recession has ushered in a new era where graduating with debt is no longer a safe idea. There is certainly no guarantee you will be able to secure a good job upon graduating college.

Ideally you work through college even at the cost of the “college experience.” This is clearly a personal choice but is it better to have the “college experience” and be shouldering a mountain of debt when you graduate that may take you years to pay back or forgo the “college experience” and when you graduate debt free you have the ability to start experiencing real life without your collegiate burden.

In short… Why go to college? So you can get a job that puts you in a pay grade above poverty level. To look at it as anything less than an investment is to have a misunderstanding for why you should go to college to begin with.

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Gigwalk jobs

There doesn’t seem to be shortage of ways for business to create new ways to use temporary workers.  Gigwalk is another such company.

Checkout the Businessweek overview of how it works below:

gigwalk job career purgatory

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Snag That Job Before Someone Else Does

Here are a handful of tips to cut in line when it comes to that job search.

Find some companies that you would love to work for, and register on their career sites.

The benefits of registering are that you can store you resume, cover letter, references, contact information and basically check a box when that job you are waiting for comes across your screen.

Another huge benefit for registering at these career pages on corporate websites is that you can set up alerts, gain access to RSS feeds of new job’s that are posted so you get a jump on the new jobs before they make their way to search engines like Indeed, Monster, and Career Builder or get posted on other high traffic areas.

RSS Feeds will allow you to see the latest job posting as they are posted so you don’t have to remember to check.  Every job posting update will be in your RSS feed.  You can learn more about RSS feeds in this article.

Tap those human networks.

There is a famous saying about it’s who you know.  It applies to employment like nobody’s business.  My first job I got was because a neighbor referred me to a non-advertised opening.  My best job leads came from asking family, friends, old professional contacts.

Put yourself out there.

In the current job market a lot of businesses are starting to look at hiring.  However the truth is that companies are looking for talent that is sharp and has been active.  You can look active on professional sites like Linkedin, and set up recruiter friendly profiles so your skills can be found.

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