In case you missed it: Jan. 22

Posted by: Doug Lubin

Here’s a quick look back on what’s been happening in terms of employment and the economy over the past two weeks:

Reuter’s: “Jobless rates seen high for many more years.” The U.S. Conference of Mayors and research group Global Insight released a report indicating that unemployment rates will likely peak in most U.S. cities in 2010. But it will take many more years before jobless rates return to the lows experienced during the last decade.

Workforce Management: “Chrysler Rushes to Hire as It Refills Product Pipeline.” Chrysler has started rushing to hire a mix of full and contract employees as product development resumes. The automaker has already hired 400 engineers in engineering design and 200 more in quality.
—> Just think, if this is happening among corporations in one of the worst-hit industries of the recession, what can we expect from other industries?

NetworkWorld: “Forrester: Tech downturn ‘unofficially over.’” Forrester Research predicts the U.S. IT market will grow by 6.6 percent, and the global market by 8.1 percent in 2010. However, the report doesn’t discount  the possibility that a double-dip recession could still emerge, sending the market in the opposite direction.

Outsource Portfolio: “Surprise: As unemployment grows, so does recruitment process outsourcing (RPO).” A recent study by the Everest Research Institute found that despite growing unemployment (currently at 10 percent), RPO continues to grow at a healthy rate. Manufacturing and health care firms are the leading adopters of RPO in North America. Globally, manufacturing, high-tech, and telecom are driving the trend. Meanwhile, the RPO market is becoming increasingly competitive. M&A in the industry is growing as new vendors emerge, and others attempt to enhance their capabilities.