Job Market Overview

Lisa Groover

Senior Account Manager

Ajilon Finance

Overview

• Macro to Micro

– What is happening to the global economy?

– In the US?– In California?– In the Bay Area?– For Recent Grads?

Global Unemployment

0 2 4 6 8 10 12 14 16 18 20

Japan

UK

Italy

Canada

US

Germany

France

Spain

South Korea

Co

un

try

Nam

e

Percent Unemployment

Global Issues

• Global Economy = Jobless Recoveries for US?

• CFOs worry about:– Trade deficit, currency devaluations– H1B Visa availability

• Global labor market – Outsourcing transactional functions– Lack of quality control

U.S.A.

• Current Unemployment Rate: 9.6%

U.S. Unemployment

• For a detailed breakdown of unemployment rates per demographic segment see: http://www.bls.gov/news.release/empsit.nr0.htm

• SBA loans, lending environment better

• Good updates this week

• Bank stocks up– Good earnings reports

Who is winning?

• Manufacturing/Construction *Gov’t incentives- accelerated depreciation of equipment

• Leisure & Hospitality • Accounting • IT/Tech • Healthcare• Temporary

And who is losing?

• Retail

• Legal

• Construction/manufacturing

• Architecture & engineering

• Finance

Where Will US Jobs Grow?

• Auto Industry

• Temporary

• Financial Services

• HealthCare

• IT/Tech

• Green Sector??

California… the Golden State?

• 12.4% unemployment• High pockets of

unemployment in San Joaquin Valley, Inland Empire

• Election-time stagnation

• Business Climate

California Continued

• Hub industries: IT, Engineering, Finance/Accounting

• Manufacturing: Los Angeles

• Financial Services: San Francisco

• HealthCare: All Regions

• Tech: Bay Area

Locavore

• San Francisco Metro Area

• SF Unemployment: About 10.4%

• Leisure & Hospitality, Technology, Healthcare and Financial Services

• Jobs are being created in San Francisco

• Start-ups: Social Media, SaaS, IaaS

New Grads

• Degreed candidates about ½ of unemployment rate

• Improvement in job availability, not in job pay

• Big 4 = Big Cuts in early 2010

• What does $10K mean to you?

More for New Grads

• By 2020, ¾ of accountants will reach retirement age

• Top Three Areas of Growth/Need– Accounts Receivable/Collections, Revenue– Financial Analysis– Regulatory Accounting

Takeaway

• Improvement is happening

• San Francisco Bay Area poised to take advantage of most growth opportunities