Wednesday, October 1, 2008

Second Jobs, Postponing Job Changes and Going Back to School

Expect more of the same for 2008 quarter four, says the latest Career Builder survey of 3000 HR professionals and 6000+ workers nationwide.

Job losses on Wall Street and the ultimate trickle down effects will continue to affect employment rates for the rest of the year. With the September unemployment numbers expected to be higher than the August 6.1%, employees are anxious about the future.

"Employers are maintaining a conservative approach to recruitment as they maneuver through a weaker economy that has produced its share of casualties," said Matt Ferguson, CEO of CareerBuilder.com. Ferguson also shares that IT and Healthcare still show solid job growth even though employers are planning to add fewer workers in quarter four.

Survey highlights:

- 21% of workers who found a new job in 2008, said the job search took four months or longer.
- 5% of employers said their companies required employees to take an unpaid leave of absence in the past six months as a cost-saving measure.
- 9% of workers have taken on second jobs in response to higher prices, food and healthcare. 24% are considering getting a second job.
- 38% of workers are postponing active job search and say will stay with existing company for another year at least.
- 41% plan to stay with their present employers until retirement.
- 34% percent of employers reported they are having a hard time finding qualified candidates in highly-skilled areas.
- 26% of workers plan to go back to school to obtain a degree, certification or other training.

Of those who plan to go back to school, 32 percent want to pursue a bachelor’s degree while 10 percent are going back for their MBA and 12 percent are going back for a master’s degree in another field.

Source - Career Builder Industry Trends Survey, September 2008

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