MILWAUKEE, Jan. 6, 2012 /PRNewswire/ -- ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions, warns workers that failing to update skills and communicate their intrinsic value to employers will derail their re-entry into the workforce, as the U.S. Bureau of Labor Statistics today reported that the overall December unemployment rate fell to 8.5 percent, the lowest level since February 2009, and that 212,000 new private sector jobs were created last month. November's unemployment rate was revised up to 8.7 percent.
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The economy has added U.S. jobs for 15 consecutive months. While today's figures are generally positive, the pace of job creation has not yet compensated for the number of roles lost during the recession.
"Stability in today's economy should be considered positive," said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "The last year added more than 1.5 million (using revised numbers) U.S. jobs. This is the type of environment we are in, and we should expect a slow, but steady labor market. This is also further evidence of the talent mismatch. Companies are hiring only when they see real demand for their products and services, and they're deferring hiring to be rewarded with cost savings. A perfect example of this is what we are seeing in the manufacturing sector, where there is some stability, yet employers remain cautious and reluctant to risk taking on permanent hires."
In today's Human Age, employers and individuals need to rethink their approaches to work. Through ManpowerGroup's Success Profile and Employability Profile tools, candidates and employers can learn how to align skills development and job success. Employers are encouraged to contemporize their hiring strategies with success mapping, which includes a skills development plan, while workers can use an employability profile to align their freshly acquired hard skills and competencies with an employer's needs. Read how to "Hire and Retain the Best With Success Mapping" here: http://www.manpowergroup.com/research/research.cfm
The growing number of untrained youth, tomorrow's workforce, remain the biggest concern to employers committed to long-term workforce planning. As part of the Summer Jobs+ program recently launched by the White House, ManpowerGroup was among roughly 50 organizations and the only company in its industry honored this week for helping train youth with relevant skills and providing them with jobs. Through partnerships with local Workforce Investment Boards, One-Stop Career Centers and Junior Achievement, ManpowerGroup has advanced the career prospects of thousands of young Americans.
ManpowerGroup's 2011 Talent Shortage Survey found that 52 percent of U.S. companies are struggling to fill key jobs, the highest percentage in the six-year history of the survey. ManpowerGroup advises companies to think long-term because the talent mismatch will inevitably worsen as demand for products and services increase.
About ManpowerGroup
ManpowerGroup™ (NYSE: MAN), the world leader in innovative workforce solutions, creates and delivers high-impact solutions that enable our clients to achieve their business goals and enhance their competitiveness. With over 60 years of experience, our $22 billion company creates unique time to value through a comprehensive suite of innovative solutions that help clients win in the Human Age. These solutions cover an entire range of talent-driven needs from recruitment and assessment, training and development, and career management, to outsourcing and workforce consulting. ManpowerGroup maintains the world's largest and industry-leading network of nearly 3,900 offices in over 80 countries and territories, generating a dynamic mix of an
unmatched global footprint with valuable insight and local expertise to meet the needs of its 400,000 clients per year, across all industry sectors, small and medium-sized enterprises, local, multinational and global companies. By connecting our deep understanding of human potential to the ambitions of clients, ManpowerGroup helps the organizations and individuals we serve achieve more than they imagined — because their success leads to our success. And by creating these powerful connections, we create power that drives organizations forward, accelerates personal success and builds more sustainable communities. We help power the world of work. The ManpowerGroup suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®.
Learn more about how the ManpowerGroup can help you win in the Human Age at www.manpowergroup.com.
ManpowerGroup is the most trusted brand in the industry, being the only company in our industry to be named to the Ethisphere Institute's 2011 World's Most Ethical Companies list for our proven commitment to ethical business practices, including an outstanding commitment to ethical leadership, compliance practices and corporate social responsibility. In addition, ManpowerGroup has also been recognized as the industry leader by Fortune magazine, who named the company in first place on its 2011 list of the Most Admired Companies in the temporary help sector.
In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. Learn more about this new age at www.manpowergroup.com/humanage
Gain access to ManpowerGroup's extensive thought leadership papers, annual Talent Shortage surveys and the Manpower Employment Outlook Survey, one of the most trusted indices of employment activity in the world, via the ManpowerGroup World of Work Insight iPad application. This thought leadership app explores the challenges faced by employers navigating the changing world of work and provides in-depth commentary, analysis, insight and advice on strategies for success.
Follow ManpowerGroup Chairman and CEO Jeff Joerres on Twitter: twitter.com/manpowergroupjj. Joerres is one of only six Fortune 500 CEOs who leverages a Twitter account to get his message out.
SOURCE ManpowerGroup