Economic Turnaround and Good News!

As we head into fall of 2009, I have been asked a numerous times, “Kent do you see or sense a turnaround in the job market?” The fall is typically a very busy time for companies adding sales talent in order to ramp up their sales force to drive revenue for 2010. Although I have yet to see an actual turnaround, we are sensing a change in client attitudes and in the market overall. As stated above in a “few good things,” the amount and frequency of good news and positive economic signs are increasing which is usually a leading indicator to a recovery. So what does this all mean as I gaze into my crystal ball? I do think we will see a marketable increase in hiring in 2010 and an official economic boom between 2011-2016.

A few good things:

(1) The volume of goods shipped from the West Coast is on the rise. In August the equivalent of 281,000 filled 20-foot shipping containers left the ports of L.A. and Long Beach, up from 247,000 in July and a 3 year low of 193,000 in January.

(2) Five IPO’s are set to launch this week, which would be the most activity since late 2007.

(3) Intel CEO says PC sales may grow this year. The worldwide personal-computing market is pulling out of its slump and could quickly defy predictions by growing this year.

(4) General Motors will go to 24 hour operations at factories in Kansas, Michigan, and Indiana to handle an expected increase in demand. About 2,400 production workers will be recalled as a result of added shifts.

(5) The Dow came within 82 points of crossing 10,000 for first time since October of 2008

(6) The number of newly laid-off workers seeking unemployed benefits fell for the third straight week, evidence that layoff are continuing to ease in the earliest stages of economic recovery.