The Kelly Restructuring Index is compiled by Kelly Outsourcing Group, a division of Kelly Services. It aims to provide a summary of the leading factors contributors to labor and hiring conditions in the relevant markets, with a special focus on up-to-date layoffs and job creation statistics. It is compiled from publicly available data from official, private and not-for-profit organizations.
2. 2 | Employment Restructuring Report | united states edition Q4 2012
contents Summary p/3
METHODOLOGY NOTES:
The Employment
01
Restructuring Report is
compiled by Kelly Services
using publicly-available data
US labor market trends p/4 from official, private and
non-profit organizations. It
02 aims to provide a summary
of the leading factors
US regional labor trends p/7 contributing to labour
and hiring conditions in
03 the relevant markets,
with a special focus on
Most heavily impacted sectors p/9 up-to-date layoffs and
job creation statistics.
04
US labor market outlook p/12
05 DISCLAIMER:
Major announced US job layoffs p/13 This information
is provided with
the understanding
About this report p/23
that it is not
guaranteed to be
correct or complete
and conclusions
drawn from such
information are the
sole responsibility of
the user. Attempts
have been made to
ensure that this data
or documentation is
accurate and reliable;
Kelly Services does
not assume liability for
any damages caused
by inaccuracies
in this data or
graphs documentation.
Kelly Services
US mass layoffs P/5 makes no warranty,
expressed or implied,
US job openings P/6 as to the accuracy,
completeness,
Announced job layoffs by US region P/8 or utility of this
Announced US job layoffs by industry sector P/10 information, nor does
the fact of distribution
US job openings by industry sector P/11 constitute a warranty.
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3 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
03 most heavily
summary ➔ The US labor market
maintained its positive upward
Private consumer spending
of just 1.4% in the quarter
number of reality checks.
Relatively weak consumer
impacted sectors
04 US labor
market outlook
swing in the third quarter of remains weak, and the and business spending and 05 major
2012 as the broader economy announced
impact of superstorm a jump in inventories are
US job layoffs
produced the sharpest burst Sandy looks certain to likely to see more subdued about this
report
of growth so far this year. depress activity during the growth in the final quarter.
Relatively weak final quarter of the year.
consumer and There was genuine surprise The impact of Sandy on
business spending at the 2.7% jump in GDP in The jobs market held up the Northeast is likely to
and a jump in the July–September period, relatively well during the third be prolonged with some
inventories are which was largely fuelled by quarter with fewer layoffs, businesses having their
likely to see more government spending and higher employment, and a operations affected for more
subdued growth in private inventory investment, than a month after the event.
lower rate of unemployment.
the final quarter. helping to sustain the A double-dip recession
economic momentum. The number of layoffs fell The protracted political in the eurozone, coupled
almost 122,000 during standoff on tax increases with ongoing sovereign
the quarter to a total of and spending cuts to avoid debt concerns and a harsh
332,368, the lowest since the ‘fiscal cliff’ will put a austerity program suggests
the third quarter of 2006. dampener on business and a period of prolonged pain.
investor confidence until it
The unemployment rate is resolved. It’s worth noting Japan has unleashed a
has fallen to 7.7%, down that even if the December major stimulus package,
from 8.7% a year earlier. 31 deadline is not met, the as the world’s third biggest
Total non-farm payroll automatic tax increases economy heads toward its
employment has increased and spending cuts will not fifth recession in 15 years.
by 1.9 million year over year. be felt for many months. In China, latest data shows
a strong rebound from
The positive signs are The global economy presents the mini-slump that briefly
being tempered by a a volatile and mixed picture. dampened its strong growth.
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4 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
01
03 most heavily
➔ The number of 99,851 fewer than at the same The total number of people 1.2 million more job openings impacted sectors
layoffs in the third quarter time in the previous year. unemployed stood at 12.25 than at the low point of the 04 US labor
market outlook
of 2012 touched its lowest million, some 1.5 million recession in mid-2009. 05 major
level in six years as the Another encouraging sign announced
fewer than a year earlier.
US job layoffs
upward trend across most was that the number of However the improvement in
The number of long-term
US labor sectors of the economy people employed part-
unemployed (jobless
the labor market in the third
about this
report
market continued to gather pace. time for economic reasons
– sometimes known as
for 27 weeks or more)
quarter may be short-lived.
There is expected to be a
was 5.0 million.
trends There were 332,368 layoffs involuntary part-time workers – worsening in the final months
in the quarter, 121,786 fewer fell by 269,000 to 8.3 million. Job openings at the end of 2012 due to the devastation
than in the June quarter and of September stood at caused by Hurricane Sandy,
3.6 million, approximately with many businesses,
200,000 fewer than at the particularly in and around
previous quarter, and only a New York, experiencing
slight improvement on the shutdown, and employees
position from a year ago. resorting to claiming
However, there are now unemployment benefits.
5. home
400000
5 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
200000
2005/Q4 2006/Q2 2006/Q4 2007/Q2 2007/Q4 2008/Q2 2008/Q4 2009/Q2 2009/Q4 2010/Q2 2010/Q4 2011/Q2 2011/Q4 2012/Q2
2006/Q1 2006/Q3 2007/Q1 2007/Q3 2008/Q1 2008/Q3 2009/Q1 2009/Q3 2010/Q1 2010/Q3 2011/Q1 2011/Q3 2012/Q1 2012/Q3 02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
US mass layoffs (Q4 2005 to Q3 2012) 05 major
announced
US job layoffs
1,000,000 about this
report
Another encouraging
sign was that the
number of people 800,000
employed part-time
for economic reasons
– sometimes known 600,000
as involuntary part-
time workers – fell by
269,000 to 8.3 million.
400,000
200,000
2005/Q4
2006/Q1
2006/Q2
2006/Q3
2006/Q4
2007/Q1
2007/Q2
2007/Q3
2007/Q4
2008/Q1
2008/Q2
2008/Q3
2008/Q4
2009/Q1
2009/Q2
2009/Q3
2009/Q4
2010/Q1
2010/Q2
2010/Q3
2010/Q4
2011/Q1
2011/Q2
2011/Q3
2011/Q4
2012/Q1
2012/Q2
2012/Q3
Source: US Bureau of Labor Statistics
6. 1000000
home
6 | Employment Restructuring Report | united states edition Q4 2012 contents
500000
summary
0 01 US Labor
March 2009 2009 20092009 2009February 2010June August November 20102011 2011 2011 20112011 2011February 2012JuneAugust 2012 2012 market trends
April 2009 August November 20092010 2010 2010 20102010 2010February 2011June August November 20112012 2012 2012 2012
May July October 2009 2009 May July October 2010 2010 May July October 2011 2011 May July
June 2009
September January April 2010 2010
December March September January April 2011 2011
December March September January April 2012 2012
December March September
02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
US JOB openings (MAR 2009 to Sept 2012) 05 major
announced
US job layoffs
4,000,000 about this
report
3,500,000
3,000,000
2,500,000
2,000,000
1,500,000
1,000,000
500,000
0
March 2009
April 2009
May 2009
June 2009
July 2009
August 2009
September 2009
October 2009
November 2009
December 2009
January 2010
February 2010
March 2010
April 2010
May 2010
June 2010
July 2010
August 2010
September 2010
October 2010
November 2010
December 2010
January 2011
February 2011
March 2011
April 2011
May 2011
June 2011
July 2011
August 2011
September 2011
October 2011
November 2011
December 2011
January 2012
February 2012
March 2012
April 2012
May 2012
June 2012
July 2012
August 2012
September 2012
Source: US Bureau of Labor Statistics
the improvement in the labor market in the third quarter may
be short-lived. There is expected to be a worsening in the final
months of 2012 due to the devastation caused by the storm.
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7 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
02
03 most heavily
➔ All four US census The biggest improvement based nature of the economic impacted sectors
regions experienced falls occurred in the West, where recovery that is now emerging. 04 US labor
market outlook
in the number of layoffs approximately 79,000 jobs 05 major
during the quarter. were lost, some 53,000 less Among the states, California announced
US job layoffs
than in the previous quarter. recorded the largest number
US regional The highest number of layoffs of layoffs, followed by New
about this
report
labor occurred in the South, with
106,276 jobs disappearing,
There was also a big
improvement in the Northeast,
York, Illinois and Pennsylvania.
trends approximately 11,500 fewer where layoffs totaled 67,653, Approximately 87% of
the claims associated with
than in the previous quarter. approximately 46,000 less than
in the second quarter of 2012. layoffs in the quarter were
The Midwest saw a in metropolitan areas.
marginal improvement, In both the Northeast and
with approximately 80,000 the West, the rate of layoffs
layoffs, some 10,000 less were at recent historic lows,
than the previous quarter. reflecting the more broad-
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8 | Employment Restructuring Report | united states edition Q4 2012 contents
0
summary
Northeast South Midwest West
01 US Labor
market trends
02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
announced job layoffs by US region (Q1 2010 to Q3 2012) 05 major
announced
US job layoffs
200,000
about this
The biggest report
improvement
occurred in the West, 150,000
where approximately
79,000 jobs were
lost, some 53,000 less
100,000
than in the previous
quarter.
50,000
0
Northeast South Midwest West
Source: US Bureau of Labor Statistics
Q1 2010
Q2 2010
Q3 2010
Q4 2010
Q1 2011
Q2 2011
Q3 2011
Q4 2011
Q1 2012
Q2 2012
Q3 2012
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9 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
03
03 most heavily
➔ The manufacturing approximately 41,500 Across industry, job openings impacted sectors
sector recorded a spike in were largely unchanged 04 US labor
layoffs, attributed largely to
market outlook
layoffs during the third quarter, contract completion. The across most sectors, with the 05 major
announced
with almost 129,000 jobs sector has experienced a exception of manufacturing, US job layoffs
most disappearing, approximately
50,000 above the previous
consistent downward pattern
of layoffs in recent quarters.
where openings fell
approximately 74,000 in
about this
report
heavily quarter and the highest the quarter to 238,000,
The retail sector saw a decline and professional business
impacted
quarterly loss this year.
Manufacturing accounted in the number of layoffs, down services, where openings were
sectors for 38% of all layoffs in the to a recent low of 26,950. down 64,000 to 651,000.
quarter. The layoffs were
Construction, transport The construction sector also
blamed largely on slack work
and warehousing, and suffered a drop of 4,000
and insufficient demand.
government all experienced openings in the quarter.
The administrative and significant reductions in
waste services sector had layoffs in the quarter.
10. 30000
home
10 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
0
Administrative and Retail Transportation and warehousing Healthcare and social assistance services insuranceand recreation Real estate
Manufacturing waste trade
services
Construction Government
AccommodationProfessional and technical trade
Information and food services Wholesale entertainment
Finance and
Arts, Educational services
Mining 01 US Labor
market trends
02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
announced US job layoffs by industry sector – NON-FARM (Q4 2011 to Q3 2012) 05 major
announced
150,000 US job layoffs
about this
Q4 2011 report
Q1 2012
120,000
Q2 2012
Q3 2012
90,000
Manufacturing
accounted for 38% 60,000
of all layoffs in
the quarter. They
were blamed largely 30,000
on slack work and
insufficient demand.
0
Manufacturing
Administrative and
waste services
Retail trade
Construction
Transportation and
warehousing
Government
Information
Accommodation and
food services
Healthcare and
social assistance
Professional and
technical services
Wholesale trade
Finance and insurance
Arts, entertainment
and recreation
Educational services
Mining
Real estate
Source: US Bureau of Labor Statistics
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11 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
US job opening by industry sector (DEC 2010 to SEPT 2012) 05 major
announced
US job layoffs
800,000
Dec 2010 about this
report S
700,000 March 2011
600,000
June 2011 J
Sept 2011
Dec 2011
500,000 March 2012
M
June 2012
400,000
Sept 2012 D
300,000
S
200,000
professional J
business services 100,000
job openings were
0
M
down 64,000 to
Education and
Health Services
Professional
Business Services
Trade, Transportation
and Utilities
Leisure and
Hospitality
Government
Manufacturing
Construction
651,000. D
Source: US Bureau of Labor Statistics
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12 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
04
03 most heavily
➔ The US jobs market In the past 12 months, the throughout 2013, before In China, factory output is at impacted sectors
is seeing continued steady private sector has added growing at 1.3% in 2014. its highest level in more than 04 US labor
market outlook
improvement as the 1.9 million jobs, while the a year, suggesting that the 05 major
public sector has lost 42,000 For the US, the OECD says announced
broader economy gathers economy is rebounding after US job layoffs
jobs. The stronger than that provided the fiscal cliff
US labor strength and private sector
activity slowly returns. expected September quarter is avoided, the country will
months of slowing growth. about this
report
market The growth outlook for the
GDP figures, a recovery record just 2% growth in
2013 before rising to 2.8% in
In the near term, the US
economy and labor market
in the housing market,
outlook US remains positive but stronger durable goods 2014. If something really goes will see steady improvement,
hesitant, largely as a result orders, and a four-year high wrong in Europe, even those notwithstanding a likely dip
of the myriad international in the Conference Board’s predictions will look rosy. in the final quarter due to the
worries and the domestic consumer confidence index effects of Hurricane Sandy.
We are likely to see ongoing
uncertainty surrounding all suggest that conditions
fiscal and monetary stimulus For 2013, it will be a more
the budget stalemate. in the US are improving.
across G7 countries for some complex story, dependent
The unsettling European time yet. Japan is the latest on the volatile political,
situation is the big unknown. country to begin stimulating its social and economic
The OECD predicts economy ahead of upcoming fortunes of the eurozone
that the eurozone will elections and the prospect and whether that assists or
remain in recession or flat of another recession. negates the US recovery.
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13 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
05
03 most heavily
Organization Total (approx) Industry Month impacted sectors
04 US labor
Actelion 135 Pharmaceutical July
market outlook
Alcatel Lucent 5,000 Telecommunications July 05 major
Alloy Surfaces 145 Manufacturing September announced
US job layoffs
Alorica, Cutler Bay 127 Health/Medical September
major Alta Bates Summit Medical Center 370 Aviation September
about this
report
announced
American Airlines 40 Aviation July
American Airlines 4,400 Aviation September
US job American Airlines, Miami International Airport
American Power Source
63 Aviation
50 Resources/Utilities
July
September
layoffs American Showa Inc. 173 Resources/Utilities August
American Showa Inc, Blanchester 170 Resources/Utilities August
July to SEPT 2012 Apollo Group Inc 70 Education July
Applied Materials Inc, Gloucester 55 Manufacturing September
Ashford University 450 Education September
AstraZeneca, MedImmune 200 Pharmaceutical July
Autodesk Inc 500 Arts/Media/Entertainment August
Autodesk Inc 70 Arts/Media/Entertainment September
Avid Technology Inc 360 Technology July
B/E Aerospace Inc, Holtsville 55 Aerospace/Defense July
BAE Systems, San Francisco 95 Aerospace/Defense September
Baker Victory Services 143 Community Services August
Bank of America 55 Banking/Finance July
Bank of America 16,000 Banking/Finance September
BankAtlantic, Fort Lauderdale 365 Banking/Finance August
Bath Iron Works 88 Manufacturing September
Bath Iron Works 38 Manufacturing September
Bayer CropScience 250 Manufacturing July
Beaverton Oregon 204 Education July
Behlen Manufacturing 35 Manufacturing August
Best Buy 2,400 Retail July
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14 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
05
03 most heavily
Organization Total (approx) Industry Month impacted sectors
04 US labor
Best Buy 2,000 Retail September
market outlook
Bimbo Bakeries, Sunbury 30 Manufacturing September 05 major
Blackboard Inc 90 Technology September announced
US job layoffs
BMO Harris Bank 37 Banking/Finance September
about this
Bookit.com 80 Technology August report
Boston Children’s Hospital 255 Health/Medical September
Brillion Iron Works 198 Manufacturing August
Brooks Automation Inc. 150 Technology September
C.R. Bard NY 55 Manufacturing July
California Pacific Medical Center 120 Health/Medical August
Capital Health 175 Health/Medical July
Capital One, Bethesda 80 Banking/Finance July
Capital One, Tigard 217 Banking/Finance September
Caterpillar Inc, Lafayette 167 Manufacturing August
Chester County, Pennsylvania 30 Public Sector July
Chromalloy, Nevada 100 Aerospace/Defense September
Chromalloy, Nevada 48 Aerospace/Defense September
Chromalloy, San Antonio 57 Aerospace/Defense September
Cisco Systems Inc 1,300 Technology July
Citigroup Inc. 350 Banking/Finance July
City of Milpitas 43 Public Sector July
City of Tacoma 200 Public Sector September
Clifford Jacobs Forging Co. 36 Manufacturing September
Clipper Windpower 174 Manufacturing August
Codexis Inc 133 Pharmaceutical September
Colorado Boys Ranch YouthConnect 100 Community Services July
Comair Inc, Detroit Metro Airport 524 Aviation August
Comcast Cable 89 Telecommunications August
Comcast, Tinley Center 106 Telecommunications August
Community Memorial Health System 31 Health/Medical September
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15 | Employment Restructuring Report | united states edition Q4 2012 contents
summary
01 US Labor
market trends
02 US regional
labor trends
05
03 most heavily
Organization Total (approx) Industry Month impacted sectors
04 US labor
CompuCom Systems Inc 61 Technology September
market outlook
Conservation Services Group Inc 40 Community Services September 05 major
Corning Cable Systems 90 Telecommunications August announced
US job layoffs
Covidien Surgical Solutions, Boulder Colorado 35 Health/Medical August
about this
Crane & Co. 55 Manufacturing August report
Crane & Co. 200 Manufacturing July
Credit Suisse, New York 138 Banking/Finance July
CVS Caremark, Miramar 178 Health/Medical August
Davie Hospital 40 Health/Medical August
Dendreon Corp. 145 Pharmaceutical September
Department of Children and Family Services, Illinois 600 Public Sector July
Department of Labor and Training, Rhode Island 67 Public Sector July
Devereux 153 Health/Medical September
DeVry Inc 570 Education July
DineEquity Inc 100 Technology August
Disney Interactive 50 Arts/Media/Entertainment September
East St. Louis School District 50 Education August
Eastman Kodak 1,000 Technology September
Englewood Hospital and Medical Center 70 Health/Medical September
ETM Enterprise, Grand Ledge, Michigan 100 Manufacturing September
Exelon Corp. 170 Resources/Utilities August
Exide Technologies Frisco Facility 120 Technology September
Express Script Holding 283 Health/Medical September
Express Scripts Holding Co, New Jersey 258 Health/Medical July
Express Scripts Inc at Liberty Medical Supply Inc,
84 Health/Medical August
Florida
Fair Isaac Corp. 31 Banking/Finance August
Family Resources, Iowa 45 Community Services July
Faurecia 150 Manufacturing September
Faurecia plant, Dexter Missouri 150 Manufacturing September