 |
|
|
 |
|
 |
Sales Holiday Hiring
The Misunderstanding of Holiday Hiring
By Michael Smaha, Consultant at Treeline Inc.
Most job seekers have the misunderstanding that hiring stops at Thanksgiving and that “no one gets hired until after New Years.” Why do job seekers believe this misconception? I’ve heard countless times companies are less likely to hire new employees because of “the holiday’s.” When I hear this, I wonder, do you think that employers are so busy with office holiday parties, gift exchanges, or dancing on conference tables to hire good talent? The answer is, of course not. The reality is that hiring around the holidays has nothing to do with the holidays themselves.
Hiring around the holidays has everything to do with 3rd quarter results, which ironically just happen to be finalized within the first two weeks of November for most companies. When 3rd quarter numbers are looking as dismal as grandma’s holiday fruit cake , that’s when company finance departments try to defer expenses until next year in order to boost current year profits as much as possible. By using the tactic of a hiring freeze, companies effectively limit the amount that annual profits miss expectations/forecasts/budgets etc. On the other side of the economic fence, in profitable years, when companies are ahead of their goals, hiring doesn’t freeze – the exact opposite occurs.
In strong years, hiring efforts accelerate during the holidays, because hiring managers are under pressure to hire before year’s end. Here’s why:
If a hiring manager has been given the green light to hire on a new sales member this year and has not found the right candidate yet, that hiring manager realizes they only have until December 31st to hire. Once New Year’s hits, that hiring manger has to re-justify the position and have that headcount re-approved by the Finance department. Going through the re-approval process isn’t just a pain in the neck for hiring managers … but they have a risk that an unfilled position might take away another position the hiring manager wants to be approved.
So here’s the real deal – there are just as many companies hiring at this time as there are companies putting on the brakes. In November, Boston was recognized as the second best metropolitan area in the nation for open positions across all verticals (especially technology where we are seeing a huge surge). This should be extremely refreshing to hear for current college graduates and people looking to switch their careers for a fresh start in 2012. So in closing, don’t let the “Holiday Excuse” hold you back or discourage you from looking for better and brighter opportunities.
Posted in Sales Advice, Sales Trends, Comments Off
Sales Hiring Trends in New England for 2012
With 2012 fast approaching, is the economy stable enough to support looking for a new opportunity?
By Alex Bender Consultant at Treeline, Inc.
If you are a good sales person you should always be selectively keeping your ear to the ground and listening for new opportunities. It’s when you are at the top of your game that you are most marketable. With so much economic uncertainty in the market people are becoming complacent. They stay in positions where they may not be happy or fulfilled because of fear of the unknown.
In mid October a small group of the Treeline team attended a symposium on the hiring trends for New England in 2012. The keynote speaker was Mike Goodman of the Massachusetts Donahue Institute. Goodman talked about how New England has some interesting advantages as we move into 2012. While we have been hit hard in the construction and housing market we are incredibly strong when it comes to technology.
Goodman credited the saturation of colleges and universities in the area for the continued growth in the technology market. They have provided sustained innovation and the breeding ground for new companies and employment.
Goodman’s hypothesis is that we will continue to see drastic changes in the stock market for the foreseeable future, but the local economy will continue to be stable.
According to a new report released by the University of Massachusetts, the state’s economic recovery continued to outpace the nation’s, although economists predicted shrinking global demand for the state’s technology products could hurt future growth.
The quarterly report on the state economy noted that the better-than-expected growth will help the state likely avoid a second, or “double dip” recession. However, the pace of growth appears insufficient to make a significant dent in unemployment. The unemployment rate in Massachusetts was 7.3 percent in September, compared to 9.1 percent nationally.
Massachusetts’ economy grew at an annual rate of 3.9 percent between July and September, up from 3.4 percent in the previous quarter. The U.S. economy grew at a 2.5 percent annual rate during the same period, nearly doubling from 1.3 percent pace in previous quarter.
The report, however, projected that the state economy will slow to 2.7 percent growth rate in the last three months of this year, noting several risks on the horizon. Among them: an economic meltdown in Europe and the possibility that US political leaders could fail to resolve the nation’s debt problems. European leaders have reached agreement on a package aimed at addressing debt and banking problems.
These economic variables and risk factors have had an effect on economic growth and specifically the unemployment rate. The fear of the unknown continues to dissipate throughout the nation.
Do you agree with Goodman’s hypothesis? Will New England’s economy continue to be stable? How will the technology industry effect sales hiring?
Woolhouse, Meghan. “Mass. Economic Recovery Continues to Outpace Nation%u2019s – Business Updates – Massachusetts Business News from The Boston Globe.” Business Updates from The Boston Globe. Boston.com, 27 Oct. 2011. Web. <http://www.boston.com/Boston/businessupdates/2011/10/mass-economic-recovery-continued-outpace-nation/EYtU871A1FQ8CzLYPynRLI/index.html>.
Posted in Sales Trends, Comments Off
Treeline Sales Report: October 2011
Are you afraid of the dark?
By Chris Simone, Vice President at Treeline, Inc.
Despite the constant drum beat of doom and gloom from the mass media, there are plenty of statistics that provide the basis of hope for our businesses and economy.
Economic activity expanded in September in the manufacturing and non-manufacturing sectors, and employment increased. In short, businesses increased spending and investment. The increases were slight, but they exceeded market expectations and increases beat decreases.
We are not economists at Treeline and don’t even pretend to play economists on TV: we are just salespeople who work hard every day for other salespeople. So we are simply sharing what we are experiencing; which is to say that our clients are hiring more sales people in 2011 than 2010. That’s good news.
Yes, there are big issues out there that are real, such as sovereign debt in America and in Europe namely Greece. Consumer spending is a factor. The Federal and State regulatory policy are also creating uncertainty at the moment. However, the media is exacerbating fears around these issues and making us afraid of these largely nebulous and uncertain risks. They are making us afraid of the dark.
Lately, I am reminded of the mass media drum beats every summer about shark attacks. Yes they happen every year, but every year the media amplifies reported incidents and sightings and make many people believe that the danger is new and escalating beyond control. Honestly, I’m a bit afraid of swimming in the ocean and that was never the case before.
Shedding light on reality can help us make better decisions -
By the numbers:
Economic activity in the manufacturing sector expanded in September for the 26th consecutive month, and the overall economy grew for the 28th consecutive month, according to the nation’s supply executives in the latest Manufacturing ISM Report On Business®.
Source: Institute for Supply Management – September 2011 Manufacturing ISM Report On Business®http://www.ism.ws/ismreport/mfgrob.cfm
Economic activity in the non-manufacturing sector grew in September for the 22nd consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business®.
Source: Institute for Supply Management – September 2011 Non-Manufacturing ISM Report On Businesshttp://www.ism.ws/ISMReport/NonMfgROB.cfm
The employment report is actually two separate reports which are the results of two separate surveys. The household survey is a survey of roughly 60,000 households. The establishment survey is a survey of 375,000 businesses. Both surveys cover the payroll period which includes the 12th of each month. The establishment survey not only surveys more businesses, but each business employs many individuals. Source: http://www.Briefing.com
Employment in the U.S. nonfarm private business sector increased by 91,000 from August to September on a seasonally adjusted basis, according to the latest ADP National Employment Report®.
Source: The ADP National Employment Report for September 2011 http://www.adpemploymentreport.com/
Total nonfarm payroll employment ticked up by 103,000 in September. Job gains occurred in professional and business services, health care, and construction. Government employment continued to trend down.
Source: Bureau of Labor Statistics, U.S. Department of Labor
http://stats.bls.gov/news.release/empsit.nr0.htm
One final statistic and note of optimism …
As I mentioned above, Treeline placement activity is up. In fact, placements are up approximately 55% year over year. Companies are hiring more sales people in 2011 than 2010 through Treeline’s sales-focused executive search firm. Now, we are not sharing this information to brag because that’s not our style. We are sharing this information to cast one ray of light on the shadows and fear that consume news reports on a daily basis.
So, together we can chose to be afraid of what might be lurking in the dark, or we can harness the power of positive expectations. We can control the quality of our products and services, the inspirational tone and substance of our corporate missions, the ways in which we align talent with our corporate strategies, the efficacy of our sales forces, the accuracy of our forecasts, and the decision processes around prudent investment that drive the sustainability and scalability of our businesses.
Let’s decide not to be afraid of the dark.
Now, if I could only stop being afraid of sharks…
Treeline, Inc. (www.treeline-inc.com) is recognized as an award-winning sales-focused executive search firm. Treeline is also the developer of DADO — a first of its kind Social Recruiting platform and community that fuses 21st century technologies (including social media) and behaviors with recruiting best practices. In this new paradigm, recruiters add knowledge and support thereby fostering and reinforcing the social recruiting service for the 21st century, which is knowledge-powered, technology-enabled, collaborative, and social.
Posted in Sales Trends, Comments Off
US Jobless Rate on the Decline
First-time jobless benefit filings decline again
By Annalyn Censky @CNNMoney May 19, 2011
NEW YORK (CNNMoney) — The number of Americans filing for their first week of unemployment benefits dropped sharply for the second straight week.
In the week ended May 14, 409,000 Americans filed for their first week of unemployment benefits, the Labor Department said Thursday.
That marked a decline of 29,000 from the 438,000 initial claims filed the week before, and was an even lower level than the 420,000 claims economists had expected for the week.
The number of initial claims has fallen sharply for two straight weeks, after one-time adjustments related to schools on spring break severely distorted the number. Since then, initial claims have retraced those steep gains, falling back to levels they were at about a month ago.
“We are back to where we were one month ago,” Jennifer Lee, senior economist with BMO Capital Markets said in a research note.
Economists expect initial claims to fall back below the 400,000 level next week, showing continued gradual improvement in the job market.
The number of Americans filing for ongoing claims rose 13,250 to 3,756,000 in the week ended May 7, the latest data available.
Censky, Annalyn. “First-time Jobless Benefit Claims Drop by 29,000 – May. 19, 2011.” Business, Financial, Personal Finance News – CNNMoney. CNN.com, 19 May 2011. Web. 23 May 2011. <http://money.cnn.com/2011/05/19/news/economy/initial_claims/index.htm>.
Posted in Sales Trends, Comments Off
Employment Rate on the Rise
The Massachusetts economy continued to show surprising strength as the state unemployment rate hit a two-year low in April and employers added nearly 20,000 new jobs, officials reported yesterday.
The April jobless rate was 7.8 percent, down from 8 percent in March, according to the Massachusetts Executive Office of Labor and Workforce Development. Unemployment here remains well below the national average of 8.8 percent.
And the net increase in new jobs — 19,500 in April — represented the seventh consecutive month employers added to their payrolls.
The April employment report follows a report two weeks ago that the economy in Massachu setts grew at a much faster pace in the first quarter of this year than in the nation as a whole.
But a local economist cautioned that job conditions may not be as robust as they appear, and reiterated that Massachusetts is more likely to experience slower growth in the near future.
Alan Clayton-Matthews, a Northeastern University economics professor, questioned whether some of the new hiring is seasonal or involves temporary jobs that could disappear by fall.
“It’s a strong employment report, but not as strong as it looks on its face,’’ he said. “This is an economy that, like the nation’s, is still recovering and will be for a couple years.’’
Another reason for caution on the April numbers: Other employment figures that once painted a brighter picture of the Massachusetts economy were recently revised by the US government, showing the state gained fewer new jobs than first thought as it emerged from the recession.
Nonetheless, the April report shows new jobs added throughout the economy, with Massachusetts companies in the leisure and hospitality sector adding 5,600 jobs, while the trade, transportation, and utilities and retail sectors each gained 4,200 jobs. Education and health services companies added 2,700 jobs. Meanwhile, jobs in government fell by 1,000.
One of the beneficiaries is Thomas Lindstrom, a 46-year-old Army veteran from New Bedford who is starting a new job at a nursing home after searching for work for two years. Trained in electronics in the Army, Lindstrom undertook a worker-retraining course and is now certified as a nursing assistant.
“I feel great; I’m standing on top of the world,’’ Lindstrom said.
Acme Packet Inc., a Bedford company that sells Internet voice and video delivery systems, yesterday said it plans to hire 180 employees in Massachusetts this year. The company recently reported that revenue surged 45 percent from last year, and profit during the same period grew 65 percent.
And in Cambridge, the technology company Pegasystems Inc., said it will hire 100 new employees this year — including 75 in Massachusetts.
Becky Smith, vice president of global recruiting, said the hiring is across the board — sales, marketing, legal, and technology-related positions. Smith was one of the company’s recent hires, joining Pegasystems in February.
“I was anxious to join a company at this stage,’’ she said. “We think we’re very well positioned for continued growth.’’
And Massachusetts is expected to continue outperforming the nation as a whole, according to a forecast from the New England Economic Partnership released yesterday. However, the economists repeated earlier cautions that the overall pace of recovery in the region will remain slow through the end of 2013.
Some of the data that still give them pause: Massachusetts has recovered only one-third of the nearly 143,000 jobs that were lost during the last recession, and there are still more than 272,000 residents without a job.
Clayton-Matthews, a forecaster with the organization, also said the unemployment rate in the near future will probably be negatively influenced by a quirk in the way the figure is calculated. Currently, the rate does not count those unemployed workers who have stopped looking for jobs. But as the economy slowly improves, Clayton-Matthews said, more people who had stopped looking for work will resume their job searches, adding to the count of the unemployed.
The Economic Partnership, which held its semiannual conference yesterday at the Federal Reserve Bank of Boston, also estimated the housing market in the state will remain depressed, with prices stagnant, over the next year.
Home prices in the state fell 25 percent during the depths of the housing collapse and have since regained only one-third of their former value, the Economic Partnership said.
The economists also warned of several global factors that could unsettle the recovery, including the debt crisis in Europe, delays in inventory related to the disaster in Japan, and the uncertainty in oil markets.
“There’s a lot of risk out there,’’ said Ross Gittell, a University of New Hampshire economist and Economic Partnership forecaster.
“Don’t expect the unemployment rate to go back to prerecession levels until early 2014.’’
Woolhouse, Megan. “State’s Jobless Rate Hits a Two-year Low – Boston.com.” Boston.com. 20 May 2011. Web. 23 May 2011. <http://www.boston.com/jobs/news/articles/2011/05/20/mass_unemployment_rate_hits_a_two_year_low_in_april/?p1=Well_Jobs_Center_links>.
Posted in Sales Trends, Comments Off
Social Media Marketing
The Social Media Gap
April 4, 2011 by engagesciences
Most companies are misunderstanding the massive opportunity that social media marketing represents. Last month the IBM Institute of Business Value published a report entitled ‘From Social to Social CRM’. The report surveyed 1000 consumers about the reasons they interact with companies via social sites and then compared this with the results from surveying 350 business executives on why they thought consumers followed them on on social media. The results highlighted a perception gap that can only mean companies are missing out on direct revenue opportunities.
The reality is social media followers WANT to be monetized – they are after deals, promotions and discounts. Unfortunately most business executives are barking up the wrong tree by thinking that conversation with the brand is what drives people to follow them. In reality it is quite the opposite. Of course this represents a massive opportunity. If brands build up large social followings they can distribute social offers into this community and the research suggests that commercial results will be healthy. You can’t get more focused social ROI than campaigns focused on revenue. Marketing executives need to meet consumers expectations when they follow companies on social sites through providing regular deals, coupons and social offers.
“The Social Media Perception Gap | EngageSciences.” EngageSciences | Social Media Marketing Made Simple. 4 Apr. 2011. Web. 25 Apr. 2011. <http://engagesciences.com/blog/2011/04/04/the-social-media-perception-gap/>.
Posted in Sales Advice, Sales Trends, Comments Off
Sales Job Recovery on the Rise
Big Jump in Private Jobs Bolsters Recovery Hopes
By Catherine Rampell
The economic waiting game may soon be over, as businesses signal that they are finally willing to resume widespread hiring.
In all, the nation added 192,000 jobs in February, a big jump from the 63,000 added the previous month, the Labor Department reported on Friday.
The job growth was the most in nearly a year, and the 12th consecutive month of gains by companies, which added 222,000 workers last month. It followed an unusually weak report in January, when major snowstorms across the country prompted offices and factories to close.
Taken together, the first two months of the year produced growth at about the same pace as last fall.
Economists say they are hopeful the pace will soon pick up further.
“Economic recoveries can be like a snowball rolling down a hill, in that it takes time to get some momentum,” said John Ryding, chief economist at RDQ Economics. “People hesitate until they feel that the recovery’s durable enough, and then they have a tendency to jump in. Maybe we’re finally getting to that jumping-in moment.”
Threats to a more robust recovery remain, of course, including a surge in energy and food prices, with the possibility of disruptions in oil production in the Middle East continuing to weigh on the financial markets. State and local governments are also shedding jobs, which depressed the total for February, as they grapple with budget woes.
But for now, the improvement is notable. The unemployment rate ticked down to 8.9 percent last month, falling below 9 percent for the first time in nearly two years. This rate, which comes from a survey separate from the payroll numbers and is based on the total number of Americans who want to work, has remained stubbornly high the last year. Altogether, 13.7 million people are still out of work and actively looking.
Economists say the unemployment rate could rise temporarily in the next few months, as stronger job growth lures some discouraged workers to look for jobs again. Right now, just 64.2 percent of adults are actively involved in the work force, meaning they are either in a job or actively looking for one. That is the lowest participation rate in 25 years, an indication that many Americans are either staying home, going back to school, raising children or otherwise waiting for better conditions before applying for work.
“It’s a puzzle, a genuine puzzle why that number has been stuck,” a senior economist at Credit Suisse, Jay Feldman, said. “I expect it to recover somewhat in the coming months as the labor market improves and more people become encouraged about their job prospects.”
Other recent economic reports — like those on unemployment claims and manufacturing — have pointed to stronger demand for workers. The Federal Reserve, in a survey of its 12 districts, noted on Wednesday that the labor market had improved modestly, but the Fed chairman, Ben S. Bernanke, told lawmakers that “until we see a sustained period of stronger job creation, we cannot consider the recovery to be truly established.”
The unemployment rate has fallen from a peak of 10.1 percent in this downturn. A broad measure of unemployment, which includes people working part time because they cannot find full-time jobs and those so discouraged that they have given up searching, dipped to 15.9 percent in February, from 16.1 percent in January.
Job gains appeared in nearly every industry last month. Among the biggest winners were the manufacturing, construction, and professional and business services industries. Construction payrolls bounced back from a very low level in January, when severe snowstorms hindered activity.
“In some cases it’s very hard to judge how big the underlying improvement there is in this data,” said Nigel Gault, chief United States economist at IHS Global Insight.
State and local governments, squeezed by revenue shortfalls and a reluctance to raise taxes, again laid off workers. Local governments have eliminated 377,000 jobs since September 2008, when their employment last peaked.
“There’s no work out here,” said Julio Santiago, 33, a mechanic who repaired police cars and sanitation trucks for the city of Newark before he was let go last November.
He and his wife, who has been job-hunting for two years, have canceled their children’s summer camp plans, cut out cable and Internet, borrowed from friends and even given away the family dog to make ends meet.
“The only work they have is only temporary work, or one or two days a week, and I can’t afford to do that,” Mr. Santiago said. “Plus they told me they may cut my unemployment benefits if I take those jobs, even if they know I’m only getting to work a few hours a week.”
Federal payrolls were unchanged in February, but federal employees may also be at risk of significant layoffs if Republican leaders in Congress are successful with their proposed budget cuts. Economists at Goldman Sachs and elsewhere have warned that such budget cuts could ripple through the economy and lead to layoffs in the private sector. “I am optimistic we can get to a bipartisan budget agreement, whereby the government is on a path to staying within its means without derailing the recovery and slowing the job creation engine,” said Austan Goolsbee, chairman of President Obama’s Council of Economic Advisers. “What we cut, and how, matters.”
Rising prices for energy and food also remain a risk to job growth, economists say, as they leave less money for consumers and businesses to spend on other purchases that could potentially spur hiring.
The contract for future delivery of light sweet crude oil rose to $104.42 a barrel on Friday, an increase of nearly $7 for the week, depressing the major stock indexes, which were down less than 1 percent on the day.
Many economists forecast that job growth will pick up later this year to a rate of more than 200,000 a month. While that would be a welcome development compared with the modest growth in January and the bloodletting during the recession, it still is not fast enough to recover much of the ground lost.
Since the downturn began in December 2007, the economy has shed 7.5 million jobs, or about 5.4 percent of its nonfarm payrolls. If the country adds 200,000 jobs every month, it would take more than three years to return to the employment level before the recession. And that does not take into account the fact that the working-age population has continued to grow — meaning that if the economy were healthy, it would have more jobs today than before the recession.
While gains by industry have been relatively widespread, the benefits to workers themselves have not been as universal. Workers who have already been unemployed for months or even years, for example, have had trouble getting employers to consider them. As a result, even though those out of work a few weeks have gotten new jobs, the average duration of unemployment has climbed to the unusually high level of 37.1 weeks. Many of these long-term unemployed are older workers who are considering giving up and could permanently leave the job market.
Men and women have also been affected differently by the recovery.
While men bore the brunt of job losses in the recession, requiring more women to serve as their family breadwinners, that has since changed. In the last year the share of men with jobs has risen and the share of women with jobs has fallen. In fact, the portion of women working declined to 53.2 percent in February, the lowest share since 1988.
Posted in Sales Trends, Comments Off
2011 Sales Hiring Trends
Wanted: Leadership
By Sean Cashman, Senior Treeline Consultant
One of the most commonly asked questions that I get from both candidates and clients is, “How is it looking out there?” They are not asking me about the weather – but they are asking me about the climate…get it? Sales professionals are always interested in what Treeline sees on a day to day basis and how the employment market is behaving. Well here is your update:
Companies’ hiring behaviors are typically relatively consistent, but for the past 2 years they have been changing with the weather and on a quarterly basis. The one thing that has been consistent throughout that time is companies’ focus on hiring individual contributors who are charged with growing new business and bringing new revenue in the door. As a sales exclusive executive search firm, we talk to professionals who are at all different levels of their careers. The sales managers, directors and VP’s of sales who I have met over the past few years have heard me say the same thing to them, “many of our clients are not looking to expand their executive team but instead are looking to drive business through individual contribution, companies are not looking for leadership out there.” It is just the reality that we have to deal with…
…until now. Since the start of 2011, we have seen an incredible increase in leadership openings in the market place. The first 6 weeks of this year have brought in 1 new leadership role each week. This is huge news to evangelize – companies are no longer hiring one offs, which was the trend for 2009-2010. We find ourselves building sales teams once again.…I’ll say that again- companies ARE BUILDING TEAMS AGAIN!! That means that they are penetrating new markets, launching new sales models, growing, evolving, and pushing business forward, which ultimately leads to a growing economy.
Hold on – don’t toss your confetti just yet – these are all tell tale signs that we are heading in the right direction, but we have been here before. At the start of the 2010, companies came out of the gate fast – determined to not have another 2009, they were pushing to hire in Q1 of 2010. But, by March 2010, forecasts were not coming to fruition and most companies pulled back to a more conservative approach to hiring. In 2011 companies are taking risks and they need to keep the momentum going – they can’t let fear outweigh belief. I know that sounds a tad romantic, but companies who do not meet their head count will not make their quota numbers, and that will prevent them from growing.
We see it – companies are looking for strong leadership to help build strong teams and obtain strong revenue numbers. Treeline deals in all industries, but the vertical that is making the most noise is technology. There are some incredible technology developments that are being brought to market; boot strap start ups, or established organizations with the newest generation of their technology – they are all looking to grow. With that being said, this trend in hiring leadership is not limited to technology.
So that is your weather report. Keep your eyes open – if you are reading this, you may be looking for a new leader for your company, or you may be looking to land in a new leader ship role. Whoever you are, you will find value in staying in touch with Treeline Inc.
Posted in Sales Trends, Comments Off
Has Technology Changed How Sales Professionals Close?
“Coffee is for closers”
By Alex Bender, Treeline Consultant
What comes to mind when you think of Glengarry Glen Ross, Boiler Room, Wall Street, and Planes Trains and Automobiles?
Are you bombarded with images of fast-talking, aggressive, cut-throat, money-hungry salespeople with one thing in mind: Closing?
While, successful salespeople will always close their leads, there has been a shift in many sales business models due to Sales 2.0. Many sales professionals now have to lead prospects to make their own logical decision due to the evolution of technology and information now readily available to everyone, everywhere.
Many companies have shifted their marketing and sales initiatives and investing millions of dollars a year on the Web 2.0 movement and building inbound marketing programs. They are shifting their outbound, phone call blasting, hard closing sales models to a slow methodical drip through social media. They are educating their next potential sale through social media and driving their sales to them, making them want their product before the “sales guys” get involved.
Social Media Reach – Number of Active Users Worldwide:
Facebook: 500,000,000
LinkedIn: 66,266,528
Twitter: 75,000,000
These numbers might be surprising and might have you thinking, “ya…ya I get it, lots of people broadcasting pointless information into cyber space”. Well, back in 2007, Dell Inc. took similar information and saw where the market was going and they launched a twitter campaign… By December of 2009 Dell attributed $6.5 Million in sales to Twitter….
(http://www.bloomberg.com/apps/news?pid=newsarchive&sid=akXzD_6YNHCk)
Posted in Sales Trends, Comments Off
Economists Forecast Upbeat Hiring Trends for 2011
Economists Optimistic on Growth
By: Phil Izzo – Wall Street Journal – January 14, 2011
Economists surveyed by The Wall Street Journal are increasingly optimistic about the pace of the recovery, predicting the U.S. will grow at better than a 3.2% annual rate in each quarter this year. “The U.S. economy appears to have successfully navigated the adjustment from a recovery driven primarily from economic stimulus and inventory rebuilding to one driven by private domestic demand and rising exports,” said economists at Wells Fargo & Co. “Three percent growth looks pretty good, particularly with housing stuck in low gear.”
Economists have steadily grown more upbeat about growth in recent months and boosted their estimates for the fourth quarter of 2010 in this survey. On average, respondents now estimate the U.S. grew 3.3% at a seasonally adjusted annual rate in the fourth quarter—up from an estimate last month of 2.6% growth. The economy grew 2.6% in the third quarter.
These upbeat forecasts come despite a persistently bleak outlook for housing. On average, the economists now expect that home prices will post a decline in 2011, after more than 12 months of forecasting modest gains for the current year.
Meanwhile, 30 of the 56 surveyed economists, not all of whom answer every question, say home prices won’t outpace inflation for at least the next three years. The excess supply of homes also is seen keeping construction at moribund levels. On average, the economists expect 700,000 housing starts in 2011, above 2010 and 2009 levels, but well below the 1.5 million averaged from 1959 to 2007.
“The labor market weakness is suppressing a housing recovery,” said Sean M. Snaith of the University of Central Florida.
Amid the stronger growth forecasts, economists now expect the U.S. to generate nearly 180,000 jobs a month on average this year, significantly more than last year’s average of 94,000. But with continued population growth, that isn’t nearly enough to quickly bring down the unemployment rate, now at 9.4%. By the end of 2011, the economists, on average, expect the jobless rate to be 8.8%.
Persistent weakness in the job market also is expected to keep inflation in check over the course of 2011. On average, the economists expect consumer prices will rise 1.9% this year, within the Federal Reserve’s comfort zone of 1.5% to 2%.
The central bank has a dual mandate to promote full employment and maintain price stability. With little pressure on the inflation front and a slow recovery in the job market, most of the economists don’t expect the Fed to start raising interest rates until early 2012 at the earliest.
As the recovery moves forward, they expect the central bank to keep mostly to the sidelines. Fifty of 55 respondents predict policy makers will complete a previously announced $600 billion of bond purchases, and stop there. But the policy remains contentious, with just 27 economists supporting the full amount of the program.
The bond purchases “may not have been needed, but [Fed officials] shouldn’t give in to critics once they have started,” said Jim O’Sullivan of MF Global.
Despite the disagreements over Fed policy, 24 of 40 economists who answered the question gave Fed Chairman Ben Bernanke a grade of A or B, the highest marks among top central bankers. The European Central Bank’s Jean-Claude Trichet and the Bank of England’s Mervyn King received 22 and 19 grades above a C, respectively. Neither Masaaki Shirakawa of the Bank of Japan nor Zhou Xiaochuan of the People’s Bank of China got more than 13 A’s and B’s.
“All were dealt a tough hand, but Bernanke seems the most innovative,” said Bruce Kasman of J.P. Morgan Chase.
The economists also were generally encouraged by President Barack Obama’s selection of Bill Daley to succeed Rahm Emanuel as White House chief of staff and Gene Sperling to take over the National Economic Council now that Larry Summers has departed.
Twenty-three of 46 economists said the new team would be better for economic policy, while just one said it would be worse. The remainder expected no significant difference.
Izzo, Phil. “Economists Become More Upbeat – WSJ.com.” Business News & Financial News – The Wall Street Journal – WSJ.com. 14 Jan. 2011. Web. 14 Jan. 2011. <http://online.wsj.com/article/SB10001424052748704307404576079870784741108.html?mod=igoogle_wsj_gadgv1&>.
Posted in Sales Trends, Comments Off
|
|
|
|
|
|
|
|
|
|
|
