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ManpowerGroup Advises U.S. Companies to Expand Operations in Training Hubs, As U.S. Jobless Rate Hits Four-Year Low
U.S. Bureau of Labor Statistics Reports 146,000 Jobs Added in November, Regardless of Hurricane Sandy Impact
By: PR Newswire
Dec. 7, 2012 11:52 AM
MILWAUKEE, Dec. 7, 2012 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions, says U.S. companies that expand operations in regions where skills training is a strategic, long-term and collaborative effort endorsed by educators, government agencies and companies will have a critical advantage over competitors as the world's talent shortage intensifies in coming years.
The U.S. Bureau of Labor Statistics today reported that the overall November jobless rate was 7.7%, down from October's 7.9% rate. The U.S. private sector added 146,000 new jobs last month, while September's jobs figure was revised down from 148,000 to 132,000 and October was revised down from 171,000 to 138,000. Employment increased in retail trade, professional and business services, and health care – regardless of concerns that November's hurricane would curtail job growth.
"One catalyst behind recent job growth in some sectors is that U.S. companies are advancing their high-skill training initiatives, a critical step to creating the right pool of job candidates," said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "These initiatives are often found in U.S. regions, which have developed advance training hubs that feed several growing industries. The most effective high-skill job training today is typically built and sustained by a collaborative public-private sector strategy."
For example, ManpowerGroup Solutions' Strategic Workforce Consulting business developed, with Competitive Wisconsin Inc. (CWI), a long-term workforce strategy for the state of Wisconsin that is focused on producing clusters of in-demand skilled workers. These clusters are designed to cross-train employees for various industries.
"Many jobs reshored to the United States are high-value-added that require extensive training," said ManpowerGroup President Jonas Prising. "This important trend will continue to grow in regions that have proactively aligned local educators' programming with employers' needs. Companies that can hire locally will hire locally."
ManpowerGroup's forward-looking Employment Outlook Survey, gauging hiring intentions among employers in 42 countries and territories for the first quarter of 2013, is released on Tuesday. Full survey results will appear here: http://www.manpowergroup.com/press/meos_landing.cfm
According to ManpowerGroup's 2012 Talent Shortage Survey results, 49% of U.S. employers struggle to fill mission-critical positions. Skilled trades, engineering and IT positions continue to rank among the top 10 hardest jobs to fill, year after year.
ManpowerGroup is the most trusted brand in the industry, and was once again the only company in our industry to be named to the Ethisphere Institute's 2012 World's Most Ethical Companies list for our proven commitment to ethical business practices, including an outstanding commitment to ethical leadership, compliance practices and corporate social responsibility.
In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. This concept of talentism as the new capitalism continues to resonate and was echoed as a core theme of the 2012 Annual Meeting of the World Economic Forum in Davos. Learn more about this new age at www.manpowergroup.com/humanage
Gain access to ManpowerGroup's extensive thought leadership papers, annual Talent Shortage surveys and the Manpower Employment Outlook Survey, one of the most trusted indices of employment activity in the world, via the ManpowerGroup World of Work Insight iPad application. This thought leadership app explores the challenges faced by employers navigating the changing world of work and provides in-depth commentary, analysis, insight and advice on strategies for success.
Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: twitter.com/manpowergroupjj. Joerres is one of only 20 Fortune 500 CEOs who leverages a Twitter account to get his message out.
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