Partner Professional Staffing’s 2011 Employment Predictions

Partner Professional Staffing prides itself on providing its clients and candidates with the most up-to-date information and reliable services within the job market. So this year, through diligent research and in-office consultations, we have compiled compelling predictions about our expectations for domestic, non-farm employment in 2011. This includes resignation rates, hiring, jobless claims, and growth within the divisions we serve specifically. Following are our predictions regarding the job market in the next 12 months:

Increased Resignation Rates
As the economy continues to regain some stability, we have seen the quit rates steadily increase by a recorded 20% year-over-year domestically. The majority of this margin is due to several factors including: decreased job satisfaction, decreased wages and responsibility due to downsizing and also an increase in confidence about the state of the current and future economy. Accompanied by this new found confidence, we plan to see quit rates slowly continue to rise in 2011 as employees feel more secure exploring their employment options and opportunities elsewhere.

Steady Unemployment rates
Entering into the first quarter of 2011, Partner forecasts the unemployment rate to remain steady or to marginally decrease to around 9 percent. However, in the face of the overall economic unemployment forecast, we expect to see a significant decrease in new unemployment claims within the industries we serve specifically. Although healthcare/scientific and IT hold our highest prediction for unemployment at a low 8 percent, we also expect that the in-demand positions within those areas, such as Epic healthcare IT, to have significantly lower unemployment.

Decrease in New Jobless Claims
Continuing with the forecast of stable employment rates, a recent study revealed that in 2011, of the companies surveyed, 80 percent plan to maintain or increase the size of their workforce. This leaves a margin of only 20 percent which expect to have a need to potentially reduce staff. This is a strong increase in confidence compared to this time last year. In turn, we have already begun to see a decrease in the amount of new jobless claims filed each week.

Forecasted Growth in IT, Finance & Accounting and Healthcare/Scientific
Based on the forecast numbers we have been seeing, coupled with feedback from our own regional client base, our executive team plans to see exceptional growth for the specific industries we serve. This includes information technology, accounting and finance, and healthcare/scientific. We predict the strongest segment will be IT. Partner forecasts a double digit growth in information technology staffing in 2011, to the tune of 12 to 14 percent. We also predict to see a strong 7 to 9 percent growth in the finance and accounting arena and a 5 to 6 percent growth in healthcare/scientific staffing.

As we approach the end of 2010, the U.S. economy is beginning to level out, stabilize and begin the long road to revival. We are confident in saying that we do not foresee a double dip recession in our future, though much of the forecasted growth may come after the first quarter. Many companies are optimistic about business growth in 2011 and here at Partner, we are too.