The Real Story on the State of the Employment Market

Career Insights Aug 24th, 2010Comments Off on The Real Story on the State of the Employment Market

Wow, what a horrible market it is right now. Greece is bankrupt. California can’t pay its bills. The unemployment rate is 9.6%. Even worse, the underemployment rate is 18.4%. Ouch! And according to the experts, a double dip recession is a foregone conclusion. I guess you should just be thankful you have a job and pray your company doesn’t restructure. At least that’s what the media wants everyone to think. Doom and gloom sells newspapers.

The real story is quite different.

If you are an unemployed autoworker with no education, living in Michigan previously making $150,000/year with benefits, you should be worried. However, for procurement professionals, the market is way better than you think. First, let’s take a closer look at that unemployment rate. It is currently 9.6%. However, guess what the unemployment rate is for college-educated professionals over 25? It’s 4.5%!!! Let me repeat that: 4.5%. Modern economists consider anything under 5% full employment, which means that anyone that really wants a job, has one. The market for experienced college educated professionals is tight, and only getting tighter. The market for procurement and purchasing jobs is even better.

There are no specific statistics for procurement employment. However, here is some anecdotal evidence that gives us the pulse of the procurement employment market today. As of right now, 2010 might be a record year for revenue. In addition, we had the most unsolicited job leads in the history of the firm in the month of June. And finally, we have not made one business development call in ten months.

The bottom line is the purchasing and procurement market is heating up. If you were thinking of a move, it is time to polish that resume and get your hat in the ring.  Visit our jobs page to review current openings or to submit your resume.

Jeff Flannery
About the Author:

Mr. Flannery has many years of executive search, supply chain consulting experience, supply chain strategy, and process improvement. He has managed consulting projects for several Fortune 500 clients on three continents, including: Raytheon, IBM, Union Bank of California, H.J. Heinz, ConAgra, Eaton, Nestle, and Lucent Technologies. Mr. Flannery holds a Bachelor of Arts in Finance from the University of Northern Iowa and a Masters of Business Administration in Strategy from Indiana University.

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