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Seniors delaying retirement from Rhode Island jobs?

Monday, March 2nd, 2015

It may be a fact that seniors are delaying retirement for several reasons from Rhode Island jobs, according to a survey from Careerbuilder.

According to the survey, the number of workers age 60 or older currently delaying retirement reached a post-recession low of 53 percent. This number is down from 58 percent last year and 66 percent in 2010.

75 percent of workers age 60 or older currently delaying retirement cite the recession as a cause. Twelve percent don’t think they will ever be able to retire – up slightly from 11 percent last year – and nearly half (49 percent) feel retirement is at least 5 years out.

A vast majority of senior workers not planning to work post-retirement intend to focus on relaxation (70 percent) and spending time with family and friends (57 percent). Other plans include:

  • Traveling – 48 percent
  • Taking up a hobby/spending more time on a hobby – 44 percent
  • Volunteering – 36 percent
  • Exercise – 36 percent
  • Renovating home – 8 percent
  • Mentoring – 5 percent
  • Going back to school – 3 percent

At 78 percent, the inability to retire due to household financial situations is the clear number one reason senior workers delay retirement. The need for health insurance and benefits follows at 60 percent.

However, many senior workers simply don’t want to stop working. One third of workers (age 60+) delaying retirement aren’t calling it quits because they enjoy their job; 28 percent are delaying retirement because “they enjoy where they work” and 26 percent “fear retirement may be boring.”

Construction jobs in Rhode Island grow

Saturday, February 21st, 2015

Construction jobs in Rhode Island and other areas continue to show strong growth, according to an ADP report.

The ADP Workforce Vitality Index, which measures the total wages paid to the U.S. private sector workforce, was 106.7 in the fourth quarter of 2014.

Workforce vitality varies across industries. The strongest growth over the past year has been in Construction, 8.4%, thanks to a combination of strong employment growth, wage growth and an increase in hours worked.  Manufacturing WVI advanced by 6.3% due to growth in wages and employment in large companies with more than 1,000 workers.

The WVI in Leisure & Hospitality and Trade advanced just over 6%, due to solid gains in both wages and employment.  Financial service workers enjoyed strong wage growth of 5.9%, but experienced weak employment growth.

The weakest index growth has been in Professional/Business Services and the Education/Healthcare sector, mostly due to weak wage growth.

The WVI is growing most quickly for younger workers, those under 25 years of age.  During the past four quarters it grew by 8.6%.  The annual turnover rate for workers under 25 was 49% in 2014 compared to an average of 23% nationwide, indicating more opportunities in the labor market for this age group.

Wages for those in the under-25 group grew more than twice as fast as the wages of any other group.  On the other end of the spectrum, the 55+ segment was second in terms of WVI growth.

The index for these workers increased by 6.5%.  Wages increased by 2.3%, which was slightly lower than the wage growth of the two middle tiers. Workers 55+ showed stronger employment growth than the other age groups.

This may have been driven by a combination of workers crossing the 55 age threshold and older workers delaying retirement.

Short-term compensation program helps people find Rhode Island jobs

Friday, February 6th, 2015

A slew of labor grants are going to help people find Rhode Island jobs.

With $37,814,386 in new U.S. Department of Labor grants, employers in 13 states will soon have a new tool that may help them avoid layoffs by helping states develop a new, or enhance an existing, Short-Time Compensation program.

The states of Arkansas, California, Connecticut, Illinois, Iowa, Massachusetts, Missouri, New Hampshire, New York, Pennsylvania, Rhode Island, Texas and Wisconsin are the recipients of the grants.

STC programs allow employers facing economic difficulty to reduce work hours for a group of employees as an alternative to layoffs.

Programs allow workers with reduced hours to supplement their lowered wages with a percentage of the weekly unemployment compensation that would have been available to them had they been laid off entirely.

Since grants for STC programs enhancements were first authorized by the Middle Class Tax Relief and Job Creation Act of 2012, a total of $50,461,663 have been awarded to 17 states. Michigan, Ohio, Oregon, Texas and Washington State were previously funded.

STC lets employees keep their jobs — and benefits such as employer-based retirement and health insurance — and helps employers keep skilled workers and avoid the costs of hiring and training new workers when business recovers. The program also eases the strain on local economies, which acutely suffer when layoffs occur.

“Employers want to do right by their workers, and offering them resources to be flexible during tough business cycles is not only good for business, it’s good for our economy,” said U.S. Secretary of Labor Thomas E. Perez. “States that incorporate Short-Time Compensation programs are helping their employers be more nimble, keeping more workers on the job and reducing the burden on unemployment insurance programs.”

Tech jobs in Rhode Island lost

Friday, February 6th, 2015

A new survey from global outplacement Challenger, Gray & Christmas, Inc. shows that tech jobs in Rhode Island and other locations have been cut.

Employers in the technology sector announced a total of 100,757 job cuts in 2014.

The biggest increase in job-cut activity occurred in the electronics industry, where annual job cuts surged 120 percent from 8,830 in 2013 to 19,408 last year. The 2014 total was the largest for the electronics industry since 65,300 layoffs were announced by these firms in 2009.

Job cuts in the telecommunications industry also increased in 2014, rising 68 percent to 21,821. The increase comes just one year after annual job cuts in the industry shrank to 12,952, the lowest 12-month total on record.

“Oddly, the technology sector was among the stronger segments of the economy in 2014 and is likely to be a source for continued growth and job creation in 2015. However, we did see several large scale layoff announcements from tech giants, including 18,000 from Microsoft and 16,000 from Hewlett-Packard, which has now shed more than 50,000 workers since 2013,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas.

“Announcements from other old-guard tech firms, such as Cisco Systems, Intel and Symantec, are not indicative of a sector in decline, but of one that is in flux. Several of the firms announcing job cuts in 2014 mentioned the need to be more nimble and streamlined to remain competitive.

“Technology is sector where trends shift quickly and companies have to be able to pivot in response without enduring several quarters of earnings losses. It is common to see simultaneous job destruction and creation, as employers shed workers in one area, while building up another. So, the heavy downsizing that occurred in this sector last year should not be cause for alarm,” noted Challenger.

Creative director jobs in Rhode Island getting salary increase

Tuesday, January 27th, 2015

People who have creator director jobs in Rhode Island may be getting a salary increase at some point, according to a survey from Robert Half.

The following six potentially high-paying jobs are expected to see the most substantial increases in average starting salary in 2015, according to the Robert Half Salary Guides*:

  1. Mobile applications developer: The need for skilled professionals who can develop applications for tablets and smartphones will only intensify as companies keep pace with the growing mobile market. Similar to 2014, experienced mobile applications developers can expect to see the largest increase (10.2 percent) in starting compensation of any tech position listed in the Salary Guide, earning between $107,500 and $161,500, on average.
  2. Big data engineer: As organizations of all types launch or advance big data initiatives, many will look to hire experienced engineers who can communicate with business users and data scientists, and translate business objectives into data processing workflows. Big data engineers can anticipate a 9.3 percent boost in starting pay in 2015, with average salaries ranging from $119,250 to $168,250.
  3. Wireless network engineer: Professionals who can effectively research, design, implement and optimize wireless networks will be in high demand as more internal infrastructure projects are launched to support the rising use of mobile devices and wireless technologies. Wireless network engineers can expect a 9.1 percent bump in base compensation this year, with average starting salaries between $99,000 and $137,500.
  4. User experience (UX) director: A compelling and satisfying user experience is vital to the success of any web or mobile initiative. Organizations need creative leadership to ensure the user experience across web and mobile properties is consistent and aligns with business strategy and brand identity. Experienced UX directors can anticipate average starting salaries between $110,500 and $178,000, up 6.8 percent from 2014.
  5. Interactive creative director: To execute successful interactive marketing and advertising campaigns, companies need creative leaders who are adept at coordinating the efforts of designers, writers and art directors into one cohesive vision. Skilled interactive creative directors can expect average starting salaries to increase 5.7 percent in 2015, to the range of $100,500 to $180,250.
  6. Web designer (5+ years of experience): Organizations need experienced web designers to ensure their Internet and intranet sites, and digital communications — such as emails, online ads and social media sites — accurately reflect the goals, objectives and identity of the business. Web designers with five or more years of experience can expect to earn between $80,000 and $112,500, on average, a gain of 4.8 percent over last year.

How employers can attract people for healthcare jobs in Rhode Island

Thursday, January 8th, 2015

For employers in healthcare, attracting new people to fill healthcare jobs in Rhode Island takes different tactics, according to a new survey from Careerbuilder.

When recruiting new health care workers, employers may want to emphasize long-term potential, location and benefits, which are among the factors health care workers consider most important (outside of salary) when considering a new position. Other popular reasons include the following:

  • Job stability: 63 percent
  • Benefit plans are affordable: 57 percent
  • Location: 56 percent
  • Good work culture: 51 percent
  • Ability to offer flexible schedules: 43 percent
  • Good career advancement opportunities: 38 percent

When it comes to retaining health care workers, co-worker and work/life balance can have a significant impact on their job satisfaction. Among the reasons 87 percent of health care employees say they plan to stay in their jobs in 2015:

  • I like the people I work with: 54 percent
  • I have a good work/life balance: 54 percent
  • Benefits: 45 percent
  • Ability to make a difference: 29 percent
  • Good boss who watches out for me: 28 percent

Nearly two thirds of health care employers (65 percent) plan to hire recent college graduates in 2015, and 47 percent plan to hire interns. Eighteen percent plan to hire more recent college graduates than the previous year.

Just over half of health care employers (52 percent) say they plan to hire workers who do not have industry experience and train them on the job.

Not even half of all employers continuously recruit for jobs in Rhode Island

Monday, January 5th, 2015

A new survey from Careerbuilder points out that only 38 percent of employers continuously recruit throughout the year for positions that may open up down the line, which may affect jobs in Rhode Island.

Among HR managers who don’t continuously recruit, the primary inhibitor is time (46 percent). Cost is only a prohibitive factor to 29 percent of this group.

Sixty-five percent of a subset of human resources managers who continuously recruit say the tactic shortened their time to hire; 54 percent said it lowered their cost per hire.

The cost of extended vacancies can be very harmful to their companies’ performance.2

• Lower morale due to employees shouldering heavier workloads – 41 percent

• Work does not get done – 40 percent

• Delays in delivery times – 34 percent

• Declines in customer service – 30 percent

• Lower quality of work due to employees being overworked – 30 percent

• Employees are less motivated – 29 percent

• Loss in revenue – 25 percent

• Employees making more mistakes resulting in lower quality of work – 25 percent

• Higher turnover because employees are overworked – 22 percent

“Extended vacancies hurt companies’ ability to grow, maintain productivity and keep existing employees engaged. One solution is to anticipate turnover in high-skilled positions and compile a network of able candidates waiting in the wings,” said Rosemary Haefner, vice president of human resources at CareerBuilder. “While it takes an investment, companies that continuously recruit and build a pipeline of talent are able to significantly reduce their cost and time to hire.”

Manufacturing jobs in Rhode Island climb

Sunday, December 28th, 2014

The latest employment statistics are in, and they show that manufacturing jobs in Rhode Island are climbing.

In November, manufacturing added 28,000 jobs. Durable goods manufacturers accounted for 17,000 of the increase, with small gains in most of the component industries.

Construction employment also continued to trend up in November (+20,000). Employment in specialty trade contractors rose by 21,000, mostly in the residential component. Over the past 12 months, construction has added 213,000 jobs, with just over half the gain among specialty trade contractors.

Employment in retail trade rose by 50,000 in November, compared with an average gain of 22,000 per month over the prior 12 months. In November, job gains occurred in motor vehicle and parts dealers (+11,000); clothing and accessories stores (+11,000); sporting goods, hobby, book, and music stores (+9,000); and nonstore retailers (+6,000).

Employment in professional and business services increased by 86,000 in November, compared with an average gain of 57,000 per month over the prior 12 months. Within the industry, accounting and bookkeeping services added 16,000 jobs in November.

In November, the unemployment rate held at 5.8 percent, and the number of unemployed persons was little changed at 9.1 million. Over the year, the unemployment rate and the number of unemployed persons were down by 1.2 percentage points and 1.7 million, respectively.

The number of long-term unemployed (those jobless for 27 weeks or more) was little changed at 2.8 million in November. These individuals accounted for 30.7 percent of the unemployed. Over the past 12 months, the number of long-term unemployed declined by 1.2 million.

Should the minimum wage be increased for Rhode Island food service jobs?

Monday, December 8th, 2014

Some people think the minimum wage should be hiked up for Rhode Island food service jobs, among other jobs, according to a Careerbuilder survey.

The survey found that a strong majority of employers (62 percent) think the minimum wage in their state should be increased, including 58 percent of company senior leaders.

While most employers would like to see a hike in their state, only 7 percent think a minimum wage of $15 per hour or more would be fair. Nine percent don’t think there should be a set minimum wage. Nearly half (48 percent) think a fair minimum wage should be set between $10 and $14 per hour.

  • $7.25 per hour (current federal minimum): 8 percent
  • $8.00 or $9.00 per hour: 29 percent
  • $10.00 per hour: 29 percent
  • $11.00-$14.00 per hour: 19 percent
  • $15.00 or more per hour: 7 percent
  • No set minimum wage: 9 percent

Among employers who want an increase in their state, improving the standard of living of workers led all business-related reasons for their support. A majority say a higher minimum wage helps the economy and helps them retain employees.

  • It can improve the standard of living: 74 percent
  • It can have a positive effect on employee retention: 58 percent
  • It can help bolster economy: 55 percent
  • It can increase consumer spending: 53 percent
  • Employees may be more productive/deliver higher quality work: 48 percent
  • It can afford workers the opportunity to pursue more training or education: 39 percent

Employers who do not support a minimum wage increase in their state cite several reasons related to negative effects it may have on their business.

  • It can cause employers to hire less people: 66 percent
  • It can cause issues for small businesses struggling to get by: 65 percent
  • It can cause hikes in prices to offset labor costs: 62 percent
  • It can mean potential layoffs: 50 percent
  • It can lead to increased use of automation as a replacement for workers: 32 percent
  • Wages for higher-level workers may suffer and create retention issues: 29 percent

Outlook for Rhode Island jobs bleak

Monday, December 1st, 2014

The outlook for Rhode Island jobs, particularly in providence, is looking bleak, according to new results from Manpower.

U.S. employers report the strongest Net Employment Outlook since Quarter 1 2008, when the Outlook was +16%. The Quarter 4 2014 Net Employment Outlook of +15% is up from +14% in Quarter 3 2014 and from +13% during Quarter 4 2013.

Globally, hiring plans are mostly positive with employers expecting to finish the year on a more confident note than they did in 2013, as outlooks strengthen in 29 countries and territories year-over-year and soften in just 12. Forecasts, however, are softer when compared with Q3. Fourth-quarter hiring confidence is strongest in India, Taiwan and New Zealand, while the weakest and only negative forecasts are reported in Spain, Italy, Ireland, the Czech Republic and Finland.

Among employers in the 100 largest metropolitan statistical areas, the strongest job prospects are expected in:

  • Dallas
  • Houston, Texas
  • McAllen, Texas
  • Phoenix, Ariz.
  • San Jose, Calif.

The weakest Outlooks are projected in:

  • Akron, Ohio
  • Little Rock, Ark.
  • Philadelphia
  • Spokane, Wash.
  • Providence, R.I.
  • Hartford, Conn.
  • Albany, N.Y.
  • Employers in the Midwest report a Net Employment Outlook of +15%, which is the strongest since Quarter 4 2007 when the Outlook was +18%.
  • Employers in the South report a Net Employment Outlook of +15%, which is the strongest since Quarter 2 2008 when the Outlook was +17%.
  • Employers in the West report a Net Employment Outlook of +16%, which is the strongest since Quarter 1 2008 when the Outlook was +22%