Emerging Workforce Stats

According to XYZ University, a demographics consulting firm specializing in organizational dynamics, the U.S. Workforce will change in significant ways in the next five years:

  • By 2015, Generation Y (born since 1982) will out number Baby Boomers (born between 1946 and 1964) in the workforce.
  • On average, 10,000 Baby Boomers retire each day.
  • Generation X (born between 1965 and 1982) will make up 65 percent of the workforce by 2020.
  • 70 percent of college grads leave their first job within two years.
  • 75 percent of employed Americans are looking for a job.
  • One in three college students and young professionals under the age of 30 prioritize social media freedom over salary in accepting a job offer.

The U.S. Bureau of Labor Statistics predicts a shortage of 10 million workers due to the retirement of Baby Boomers.

Forbes: Greenville tied for first in best cities for job growth this Spring

A new report by Forbes finds that Greenville is the top city in the U.S. in expected job growth during the second quarter of 2012.

The finding is based on a survey of employers by ManpowerGroup.  According to the survey, the employment growth outlook for Greenville is impressive with 26 percent of area employers that expect to add jobs during the second quarter of 2012, compared with 2 percent that plan to reduce employment.  Greenvilled tied with Knoxville, TN, for the top spot in the report, followed by Syracuse, NY, Oklahoma City, OK, and Tulsa, OK.

Read the entire report at Forbes.com by clicking here.

Residential Construction Employment Rose in 2011

Residential Construction Employment Rose in 2011

Source: Bureau of Labor and Statistics

For the first time since 2006, residential construction rose.  Employment in residential construction rose 46,000 jobs in 2011, and currently stands at 2.18 million jobs lower than its peak in 2006.  According to Calculated Risk, construction employment is still “mostly moving sideways, but at least it was not a drag on employment and GDP in 2011.”

Read the full report at calcualtedriskblog.com by clicking here.

National Public Radio also provided good news about construction employment in a report they aired on January 6.

To read the report at NPR.org, click here.

Federal Reserve: South Carolina and Michigan have the best economic outlooks

According to a report by the Federal Reserve Bank of Philadelphia, South Carolina is one of two states that are expected to a growth rate of 4.5 percent or better in the Fed’s coincident index, or gross state product, in the first six months of 2012.

Both South Carolina and Michigan top the Fed’s list of prospects for rapid growth in the next few months.  Both state’s have experienced significant improvements in employment.

The Greenville News reported on this story over the weekend.  Read their report at greenvilleonline.com by clicking here.