Job growth trickling down to broader economy-headhunter
Wednesday, July 30, 2014 - 03:14
Goeff Hoffman, CEO of executive search firm DHR International, gives his take on the job market, after the ADP report showed the 4th straight month of job growth over 200,000.
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The latest ADP report shows the economy added 2181000. New jobs in the private sector in July that is the fourth straight month of private job -- about 200000. Though was down. From the previous month and here for some context. Is Jeff Hoffman he is CEO of DHR international -- executive search firm welcome thank you still I want your take on this ADP number what do you think about it. Yeah I think it's pretty in line with what we've been seeing for the past few months. You goods not overwhelming. I am pretty indicative I think of what we're seeing in the marketplace where you know we've seen a strong recovery at the senior level jobs. But it's taken a while for that trickle down into the broader economy. We also got a strong GDP number the question is as the economy gets stronger. At what point do you see it tipping point where companies can really start hiring and and really get aggressive and that night. Yeah you know the the GDP number was it was interesting because it's coming off of obviously a really sluggish first quarter GDP number. So how much of that was snapped back you know is probably up for debate I think the overall forecast for the -- for the remainder of 2014 is and that. 22 and a half percent range. Which isn't necessarily setting the world on fire. But companies are investing we have seen expansionary hiring. You know it's tough to predict the exact pace and we're gonna start seeing that really reverberate through the broader. Economy as mentioned earlier we'll tell me from what you hear from executives looking to hire. Where is the most -- what sectors. You don't believe it or not retail at a very challenging first quarter but has come back really nicely in the second quarter here the first thirty days and and a third quarter our technology practice has been very busy that's for technology companies themselves announcer for technology positions within large corporates. Are our life sciences and healthcare -- are also probably their business practices but believe or not the strongest practice for -- -- -- industrial group. They seem quite an increase in the number of openings at their -- When companies come -- -- has there been an anti evolution and what they're looking for in terms of candidates has been tweaking process. Yeah it really depends it depends on the specific industry you know certainly the financial services industry is gone through a lot of different changes. A lot of different count packages compact designs -- -- too enticing to attract the right kinds of people would also fit within the parameters. Of what the regulars like to see what their shareholders like to see. But yeah I think that there is you know if you ask me broadly speaking. You know has there been changes yeah I think that there's a lot more emphasis of focus on some ancillary benefits. Not just that pure cash compensation for work life balance issues. And other means of keeping employees engaged. And then just finally what concerns do you have when you look at this job market recovery. You know I think that it's still feels a little fragile. Yeah solace if there's a big macro than the whole thing might take a big step backwards. But you know Warren we're gonna solely focused that way we're running our business that way -- degrees he continued growth. Some think you are thanks to Jeff when he's CEO of DHR international popular well this is writers.
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