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Finance and Accounting Jobs Report: November 2014

Total number of U.S. jobs grew by 214,000 in October, while the unemployment decreased to 5.8 percent, according to the U.S. Bureau of Labor Statistics.

 

Both the unemployment rate (5.8 percent) and the number of unemployed (9.0 million) decreased in October 2014. Since the beginning of the year, the unemployment rate and the number of unemployed persons have declined by 0.8 percentage point and 1.2 million, respectively.

In October, the number of long-term unemployed (those jobless for 27 weeks or more) remained flat, around 2.9 million individuals. These individuals accounted for 32.0 percent of the unemployed population. Over the past 12 months, the number of long-term unemployed has declined by 1.1 million, which is great employment progress.

API_NOV_JR_Graph

The civilian labor force participation rate remained flat, overall, at 62.8 percent in October. This number has remained consistently stable for the entire year. The employment-population ratio increased to 59.2 percent in October.

 

Employment in professional and business services continued to increase this month, with 37,000 jobs added.

 

Over the prior 12 months, job gains averaged 56,000 per month. In October, employment continued to trend up in temporary help services, with 15,000 jobs added to this sector. Throughout 2014, employment in professional and business services has grown by an average of 55,000 per month – both solid growth for employment figures.

Employment in other major industries, including mining and logging, wholesale trade, information, financial activities, and government, showed little change over the month, but still remain strong employment sectors.

In October, the average workweek for all employees increased by 0.1 hour to total 34.6 hours. The average workweek for production and nonsupervisory employees on private non-farm payrolls edged up by 0.1 hour to a total of 33.8 hours.

Average hourly earnings for all employees increased by 3 cents to $24.57 in October 2104. Over the past 12 months, average hourly earnings have risen by 2.0 percent. In October, average hourly earnings of private-sector production and nonsupervisory employees increased by 4 cents to $20.70. For more insight on the salary predictions for 2015, request your free copy of the 2015 Accounting Principals Salary Guide. 

Accounting Principals keeps employers up-to-date on monthly employment and hiring trends, specific to the accounting and finance industry. To learn more about today’s changing economic landscape, and to discuss your holiday season hiring strategy, contact an Accounting Principals representative today. 

 

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PROFESSIONAL NETWORKING TIPS TO CONNECT WITH TOP ACCOUNTING AND FINANCE TALENT IN CHICAGO

Be active in Chicago area networking events to match your business needs with top candidates’ career needs.

A savvy Chicago recruiter knows never to let a good candidate slip through the cracks. Even if a finance or accounting professional didn’t submit their resume, it’s up to you to use your professional networking skills to find them before your competitor does.

professional-networking-tips

When it comes to assessing a candidate’s personality and professionalism, let’s face it: there is really no substitute for face-to-face interaction. That’s why we developed a list of networking associations in the Chicago area that would be ideal for meeting with potential candidates, and tips for how to get the most out of your networking opportunities.

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Quiz: Are You Current With Succession Planning Best Practices?

succession-planning
If you consider yourself a CAO, CFO or business leader, you have probably considered succession planning or may even have a strategy in place. Adhering to best practices in succession planning helps to ensure that your company keeps running smoothly even after you, or members of your leadership team, retire or move on to other opportunities. But realistically, how much do you know about the process, and what more do you need to learn? Test your knowledge and find out.

Succession Planning Quiz (10 Questions)

Looking for more industry insights?

Our 2015 Salary Guide goes beyond the numbers to help employers like you recruit and hire the best talent in your market. Get a better understanding of what top professionals are looking for in a job. Request your free copy here!

A Payroll Specialist And Their Oh-So-Important Soft Skills

payroll specialist skillset

While salary is key for both employer and candidate, hiring the right accounting and finance fit goes far beyond competitive compensation.

Enter soft skills, which are partially intrinsic and partially learned. They’re not as black and white as a salary, but they are perceptible. The skills may be apparent in an interview or during an office tour. Referrals can also help you determine how strong a candidate’s soft skills are.

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Finance and Accounting Jobs Report: October 2014

Finance and Accounting Jobs Report: October 2014

Jobs Report Summary For The Finance and Accounting Industry. Based on the BLS report with September 2014 data.

 
For the month of September, the Bureau of Labor Statistics recently released that the U.S. workforce added 248,000 jobs, substantially outperforming economist’s prediction of 215,000. The upward surge of newly added jobs caused the unemployment rate to decrease from a 6.1% to a 5.9%, the first time it’s reached below 6% in six years.

Not only was the month of September impressive for job growth, August’s numbers have been revised from 148,000 to 180,000 jobs, as well as a bump in July’s numbers, from 212,000 to 243,000.

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Social Media For Accountants; Can It Benefit Your Organization?

Why social media for accountants matters

Social Media for Accountants’ Value Is Equal For An Employer

When asked to define social media, most define the multiple networking platforms as an open book for personal status updates, check-ins, photo-sharing, and connecting with friends. If you ask what makes social media valuable for an accountant, most would say it’s a professional tool for collaboration and learning through groups and forums. But it also serves as a benefit to hiring and the future success of your organization.

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The Salary Is Competitive. It’s The Soft Skills Employers Want.

Soft skills employers want to hire

While our 2015 Salary Guide offers the most competitive salaries for hiring accounting and finance professionals, an equally important aspect of hiring is identifying essential soft skills to ensure the candidate is a fit for your organization. Why are soft skills so important for hiring the right candidate

  • 89% of hiring failures are a result of a poor cultural fit
  • Replacing an employee costs 20% of their annual salary
  • Engaged employees are 20% more productive than disengaged workers

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