Adecco Jobmarket 2010 (2)

The road
to recovery.
Although we are still some way from a full economic upturn,
we have made considerable strides. But getting to this place
certainly hasn’t been easy, especially for the American workforce.

In December 2008, the National Bureau of Economic Research’s declaration of
an official economic recession was paired with news that our country had already
been in the grips of a downturn for a full year. Events such as the collapse and failure
of major economic institutions sparked significant market declines and subsequent
ripple effects that were felt across Wall Street and Main Street and from board rooms
to cubicles in most workplaces across America.

2010 Job market perspectives 2

2009 saw some of the steepest
job cuts in American history.
Unemployment reached 10.1% before year-
end and job losses totaled 7.7 million since
the start of the recession in late 2007. Beyond
economic volatility, the word “change” took
on a whole new meaning in 2009 with major
shifts in the U.S. political framework. A new
presidential administration came into office
and quickly enacted a federal stimulus
to help kick start the recovery.

However, in the fourth quarter of 2009 While these are
the initial signs of economic recovery, all encouraging
or at least stability, began to quell months
of fear and uncertainty. GDP grew again signs, surviving
in the third quarter, initial jobless claims the economic
stabilized, corporate earnings showed
signs of life and demand for temporary
upturn —
workers increased — all indicators that u-shaped
the light at the end of the tunnel is getting
or otherwise —
brighter.
will require the
Adecco Group’s 2010 Job market
perspectives report explores the current same foresight
and future state of the labor market, and agility
piecing together where the present reality
falls on both global and historic scales.
as did surviving
the recession.
It looks beyond the numbers to provide
a holistic analysis of the employment
situation nationally and outlines the status
of job opportunities both by region and
industry, aimed at helping you to best
position your organization and your career
for a successful ride back up.


Where we’ve been:

New presidential administration
focuses on a stimulus.
President Obama’s $700 billion around the success of the stimulus package.
These slowdowns continued steadily as
American Recovery and
the year progressed, but skepticism around
Reinvestment Act was signed shortly the impact of stimulus efforts persisted as the
after he came into office with the goal of unemployment rate broke 10% in October.
stimulating the U.S. economy through an
infusion of capital that would hopefully spur
economic and jobs growth. According to an
Adecco Group survey conducted in February, Monthly unemployment rate
10.1 10
73% of workers believed that the stimulus 9.7 9.8
10
9.4 9.5 9.4
package would successfully create the 8.6 8.9
8.2
promised 3.5 million jobs and a follow-up 7.4 7.7
6.9
6.6
survey conducted at the half-year point 6.2
showed similar levels of confidence in the
stimulus package.

In July, the unemployment rate continued
to rise, but, for the first time since the start
of the recession, the rate of job losses slowed,
Sep 08
Oct 08
Nov 08
Dec 08
Jan 09
Feb 09
Mar 09
Apr 09
May 09
Jun 09
Jul 09
Aug 09
Sep 09
Oct 09
Nov 09
Dec 09

showing some signs of encouragement

Source: Bureau of Labor Statistics


Opposing views on the impact of the stimulus package.

“ The stimulus will have
created or saved about 1.5 million jobs
by the end of September 2009.”
Congressional Budget Office projection

“ Is the private sector actually ready
to pick it up once public support is scaled back?
We won't see robust growth until 2011.”
Joseph Brusuelas, top economist for Moody’s Economy.com

“ I don’t see the green sector providing
the stimulus that the economy needs...
either in terms of jobs or in terms of the
positive impact on the trade balance, because
the U.S. relies too heavily on foreign countries
to source goods needed for a green economy.”
Samuel Sherraden, policy analyst, New America Foundation


Where we’ve been:

American giants fail
and collapse.
Just as Lehman Brothers’ 2008 bankruptcy Despite the dismal reports of unemployment
shook the stability of jobs in financial services, and the weakness in today’s job market,
Detroit’s crisis in 2009 further confirmed there remains a wide range of opportunities
what was known for many years, namely available, especially for skilled professionals
that the U.S. economy is increasingly reliant in accounting and finance, engineering,
on the professional services and technology IT and healthcare. Job seekers should look
sectors. The ongoing challenge of a shrinking toward aligning their skills with industries
manufacturing economy is retraining the and professions that will be positively
millions of Americans displaced from manu- impacted by investments from the stimulus
facturing jobs so that they can fill vacant package and increased job opportunities
jobs in emerging fields and industries. for financial services and legal professionals
from TARP oversight. Some of the opportu-
According to the Bureau of Labor Statistics, nities created by TARP and governmental
there were more than 2.5 million unfilled oversight include forensic accountants,
jobs at the end of Q309. Of those, 422,000 management accountants, and internal
were in professional and business services auditors.
and another 534,000 were in education
and health services.


Jobs added and lost by industry
February 2009 - February 2010

Employment services Manufacturing
100K 100K
50K 50K
1
0 0K
-50K -50K
-100K -100K
-150K -150K
-200K -200K
Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb
09 09 09 09 09 09 09 09 09 09 09 10 10 09 09 09 09 09 09 09 09 09 09 09 10 10

Temporary Construction
100K 100K
50K 50K
0K 0K
-50K -50K
-100K -100K
-150K -150K
-200K -200K
09 09 09 09 09 09 09 09 09 09 09 10 10 09 09 09 09 09 09 09 09 09 09 09 10 10

Professional services IT
100K 100K
50K 50K
0K 0K
-2 3 -1 0
-50K -50K
-100K -100K
-150K -150K
-200K -200K
09 09 09 09 09 09 09 09 09 09 09 10 10 09 09 09 09 09 09 09 09 09 09 09 10 10

Healthcare Financial services
100K 100K
50K 50K
0K 0K
-50K -50K
-100K -100K
-150K -150K
-200K -200K
09 09 09 09 09 09 09 09 09 09 09 10 10 09 09 09 09 09 09 09 09 09 09 09 10 10

Education Source: Bureau of Labor Statistics

100K
50K
.2
0K
-.5 -.5
-50K
-100K
-150K
-200K
Feb Mar Apr May June July Aug Sept Oct Nov Dec Jan Feb
09 09 09 09 09 09 09 09 09 09 09 10 10


Where we’ve been:

A global perspective.

According to the Organisation for Economic recession, but they trail the U.S. as the
Co-operation and Development (OECD), the impact of lowered consumer/supply-chain
average global unemployment rate reached demand follows an extended downturn.
eight percent by mid-year 2009, lower than The labor markets in Japan and Korea are
the U.S. average for the same time period at reporting steep declines, but unemployment
just over nine percent (9.1%). Unlike previous rates remain considerably lower than the
recessions, in 2009 the U.S. found itself U.S. for the time being.
outpaced in the speed of recovery by its
European allies. In fact, even as the U.S.
unemployment rate continued to climb
Global unemployment rates, as of mid-2009.
during the first half of 2009, Germany,
France, and Italy reported significant drops
Japan 5.2%
in unemployment between Q1 and Q2.
UK 7.6%
Italy 7.4%
Unemployment varies widely around the
Canada 8.4%
world – unemployment rates among our
U.S. 9.1%
OECD allies in Asia are significantly lower
than the rates seen in Western countries. Germany 7.5%
The export driven economies of Japan France 9.2%
and Korea are feeling the impact of the Spain 17.9%
South Korea 3.8%
Source: Organisation for Economic Co-operation and Development (OECD)


The economics:

Looking backward and forward
to put today in perspective.
Feelings of uneasiness and concern typically Of the four periods of economic contraction
intensify when the unemployment rate rises defined as recessions since World War II,
beyond the six percent mark. During the the current recession is tracking to be the
last 50 years, the national unemployment longest on record. Previously, the 1981-82
rate has fluctuated from four percent to recessions held this record, spanning 14
10 percent. In August of 2009, the unem- months. The current recession began in
ployment rate reached 9.7 percent for only December of 2007, and will likely continue
the second time since World War II, and through the first quarter of 2010, spanning
economists were correct in their prediction more than two years.
that unemployment would reach 10 percent
While “green shoots” in the economy have
by the year’s end as we hit that mark in
been identified and are sparking optimism,
October. So, while the U.S. economy is
comparing the current state of the job
beginning to show signs of improvement,
market to historical trends underscores the
2010 will likely begin with the highest
depth of our economic crisis and the long
unemployment rate recorded since the
path to recovery.
Great Depression.

U.S. unemployment rates, 1958-2008

10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
1958 1968 1978 1988 1998 2008
Source: Bureau of Labor Statistics


Where we’ve been:

A shifting political agenda.

The outcome of Congressional debate As bills move through Congress, watch
in the last months of 2009 may impact the closely as they are amended in committee
roles and responsibilities of employers — they could impact you and your
and employees for a long time to come. company. As the proposed legislation
While healthcare has dominated the becomes more definitive, employers
legislative landscape, it won’t be will be required to take the steps to
the only issue on the Congressional insure workplace compliance and
horizon. The Employee Free smart organizations should
Choice Act has also been front be thinking about preparing
and center with much debate for these outcomes before
over the role of unions they are mandated.
in today’s workplace.

Look at the legislative schedule to be sure you are familiar with all the
upcoming issues. Among other things, upcoming legislation could impose
stricter e-verify policies for new employees, new “pay-for-performance”
rules, and substantial amendments to the Worker Adjustment and Retraining
Notification Act.


Where we’ve been:

Workforce demographics
are changing.

USA Today reported in early September that women are on the verge
of outnumbering men in the workforce for the first time, a historic
reversal caused by long-term changes in women’s career patterns
and massive job losses for men during the current recession.

Since June 2009, men have lost 74 percent transfer to growing industries such
of the 6.4 million jobs eliminated since the as technology, medicine, and education.
recession began in December 2007. Some
Businesses should continue to strive to
have speculated that fewer women have
recognize and encourage the talents of all
lost their jobs during the downturn as a
employees. Companies cannot ignore the
result of inequality in pay. If this speculation
needs of an evolving workforce and remain
is correct, a workforce dominated by women
a competitive employer of choice. Employers
may overturn the status quo.
of choice will have programs in place that
For the most part, job losses have been are designed to attract and retain the best
particularly severe for men in this recession people for the job, regardless of gender.
because the industries that have been As the workplace becomes more diverse,
hardest hit are historically dominated by being an employer of choice will require
male workers — construction, manufacturing, developing a workforce that celebrates
and financial services. Regardless, whether the diversity of talent and accommodates
you are a man or woman in a contracting a multitude of lifestyle and cultural needs.
industry, you should consider how your skills


Where we’ve been:

A new mindset
for American workers.
The most serious threat to managers satisfied with their company’s contribution
in this recession may be the talent flight to their retirement plans. Additionally, 78
that is anticipated at the first sign of true percent of American workers are not satisfied
recovery. Every company’s greatest asset with their company’s overall retention efforts
is its human capital, and an Adecco Group and 76 percent are not satisfied about
survey conducted in mid-2009 indicated future career growth opportunities at their
that most employers will see an unprece- company.
dented exodus of talent when the job
Almost half (48%) of workers are not satisfied
market rebounds.
with the relationship they have with their
At Adecco Group, we are now seeing a boss and the majority (59%) of workers are
shift in perspective for many of the 500,000 not satisfied with the level of support they
workers we interact with in North America receive from their colleagues. Further, the
who are moving further from a mindset of majority of workers (77%) are not satisfied
“I’m just happy to have a job.” Our research with the strategy and vision of the
found that more than half (54%) of employed company and its leadership.
Americans report that they are likely to look
So, sentiment is changing
for new jobs once the economy turns around.
and not necessarily going
Further, the youngest employees (who bring
in the right direction.
a lot of new ideas and skills to the table)
While workers may have
are knocking on your competitors’ doors.
been satisfied with their
Seventy-one percent of those between 18
employment situation
and 29 years old are likely to look for new
in 2009, as the economy
jobs once the upturn begins.
improves, their satisfaction
Why are workers looking to jump ship? level may quickly
Signs point to several key drivers of job change along with it.
satisfaction, including compensation and
management. An Adecco Group survey
conducted in September of 2009 showed
that two-thirds (66%) of American workers
are not currently satisfied with their compen-
sation and 68 percent of workers are not


Where the jobs are:

Healthcare

Unemployment Number 2008-09 change Regions in
rate of American in workforce high demand
workers
6.1% + 418,000 All
(education and 16 million workers
health services)

Current Projected 2016 Projected Job
employment employment need growth
in millions in millions in millions

1 Registered nurse 2.5 3.01 1.0 23%
2 Home health aide 0.787 1.17 0.454 27%
3 Medical assistant 0.417 0.565 0.199 27%
4 Pharmacy tech 0.285 0.376 0.178 27%
5 Medical secretary 0.112 0.133 0.013 9-17%
6 Dental assistant 0.280 0.362 0.130 27%
7 Healthcare administrator 0.262 0.305 0.092 9-17%
8 Medical records & health information technician 0.170 0.200 0.076 18-26%
9 Physical therapist 0.173 0.220 0.068 27%
10 EMT & paramedic 0.201 0.240 0.062 18-26%

Situation overview. Areas in demand.
Now that healthcare reform is law, we We’ll have to wait and see how the health-
should keep an eye on how increased care reform bill will impact the job market.
access to medical benefits will likely worsen What we know now is that healthcare is
the talent shortage in this sector. If the among the strongest, if not the strongest,
current shortages in specialized medical American industry. The healthcare field
fields worsen, expect government incentives remains an industry of promise for job
to motivate workers to retrain for these seekers in the future and those looking
fields. The BLS is predicting shortages in a to retrain and transfer their skills for work
variety of fields including registered nurses, in growing fields.
pharmacists, and paramedics. As the
Sources: BLS, New York Times
healthcare job market heats up, medical
Stats as of September 2009
professionals will gain even more leverage
with prospective employers, making the
industry more lucrative.


Where the jobs are:

Finance & accounting

Unemployment Number 2008-09 change Hottest areas
rate of American in workforce
workers NY, TX,
7% -169,000 CA, IL
800,000 workers

Hottest jobs:
Situation overview. Accounts receivable/collections,
While the financial crises of the past two financial analysts, regulatory accountants
years have negatively impacted many
finance professionals, one occupation
that has not felt the same sort of pain is How do you feel about your job security today,
accounting and corporate finance. Through compared to a year ago?
everything that’s happened in our economy,
a few financial functions have increased I feel my job security is about the same 60%
in importance. These include risk manage- I feel my job is somewhat less secure 18%
ment, auditing, financial analysis, budgeting, I feel my job is somewhat more secure 11%
collections and regulatory accounting —
I feel my job is much less secure 7%
all of which are accounting and corporate
finance skill areas. I feel my job is much more secure 4%

Source: 2009 Ajilon Finance/CFO Research
Areas in demand.
The increased need for this kind of finance
talent is due to the continuously changing
leaving a huge skill gap and high demand
regulatory environment. While many com-
for talent in the coming years and putting
panies have been able to overcome the
increased pressure on employers to deploy
SOX hump, new compliance and regulatory
just the right recruitment and retention
standards coming in the form of XBRL and
strategies to be successful. These dynamics
IFRS will require the right people to imple-
make it clear that accounting is and will
ment these new systems and ensure they
continue to be one true bright spot within
are integrated successfully. Beyond this,
the financial job market.
the AICPA projects that three-quarters of
the field will reach retirement age by 2020, Sources: Ajilon Finance 2009 Salary Guide,
CFO Research, AICPA


Where the jobs are:

Information technology

workers
1.0% -169,000 Pacific
2.5 million workers Northwest

Situation overview. Top desired skills for tech workers.
Compared to 2008, at the end of Q309, • Entry-level employees
there were 60,000 less IT jobs in the U.S., – Problem solving
reflecting short-term cost-cutting by employers – Ethics & tolerance
and the reduction in the IT investment that – Communication (oral & written)
typically made businesses run more smoothly. – Collaboration; teams
Regardless of what happens during this – Business analysis
recession, an effective IT strategy continues – Functional area knowledge
to be closely tied to business success and
• Mid-level hires
innovation, and this job sector will inevitably
– Ethics & tolerance
rebound. As companies focus on surviving
– Problem solving
the upturn, the IT industry’s highly skilled
– Communication (oral & written)
and specialized workers will be in demand.
– Collaboration; teams
– Project leadership
Areas in demand.
– Decision making
The IT space represents a home for a limited
group of highly specialized individuals,
which helps to keep the demand for these Sources: BLS, Society for Information Management
professionals high at all times. We foresee
this demand continuing in the near term,
especially for computer and information
systems managers as well as application
developers, who will especially be needed
to help companies navigate the next techno-
logical evolution and wave of development.


Where the jobs are:

Legal

Number 2008-09 change Regions in
of American in workforce high demand
workers
-34,200 Northeast,
1.2 million workers West

Law Shucks BigLaw layoffs by week, 2009.
Situation overview. 1,600
1,477
As a whole, the legal profession has suffered 1,400 1,302
greatly from the recession. The freezing of
1,200
the credit markets has put a halt to a lot of
1,000 928
the merger, acquisition and investment deals 858
800 753
that kept many firms busy in recent years. 799
600 526
Further, real estate lawyers, particular those 550
353 391
400 352
focused on residential real estate have also 369 301
219
305
been hit particularly hard. 200 229 148 176 141
132
158
148 121 157 79 102 71
54 5
0 49 35 0

Areas in demand.
Jan

Feb

Mar

Apr

May

Jun

Jul

Aug
In times of trouble, opportunity can abound.
Source: Lawshucks.com
Sections of the legal profession such as
commercial litigation and bankruptcy law
have been booming as a result of the current
economic turmoil. Lawyers with expertise that were traditionally handled by lawyers.
in these areas are largely sought after This results in increasing demand for highly
and will continue to be in the near future. qualified paralegal and legal assistants.
Additionally, healthcare and environmental In addition, legal professionals who are
law are still particularly strong areas of currently employed can expect to stay
the profession as litigation and casework employed for the time being. Layoffs and
in these segments continues to grow. cost-cutting at firms has almost grinded
As law firms and in-house legal teams look to a halt. As stability sets in, expect many
to manage their costs closely, opportunities employed legal professionals to explore
are created for paralegals and legal assis- the job market.
tants who can take on some responsibilities
Sources: Lawshucks.com


Where the jobs are:

Engineering

Number 2008-09 change Regions in
of American in workforce high demand
workers
-60,000 Midwest,
1.4 million workers South

Engineering talent can be hard to find, According to NACE and the Bureau of
and these professionals will continue to be Labor Statistics, the engineering specialties
in high demand. As the federal government in highest demand (and also the highest
injected funding into research and technol- paying) include:
ogy, it created job openings requiring highly
• Petroleum engineering
specialized talent. In fact, many experts
$83,121 average starting salary offer
agree that it may take the U.S. workforce
a number of years to gain sufficient • Chemical engineering
training for these roles, which could lead $64,902 average starting salary offer
to outsourcing.
• Mining engineering
Despite this high demand, attracting people $64,404 average starting salary offer
to the profession has been a challenge.
Masters degree enrollments in engineering, • Computer engineering
after peaking at 91,000 in 2003, declined $61,738 average starting salary offer
to 83,000 over the course of the decade,
• Computer science
while PhD enrollments have leveled off at
$61,407 average starting salary offer
57,000. However, enrollment numbers only
tell a partial story: the ratio of enrollment
rates versus graduation rates paints an Sources: NACE, BLS
even bleaker picture, with only 55 percent Stats as of September 2009

of those enrolled in undergraduate
engineering programs completing their
degrees.


Where the jobs are:

Manufacturing

workers
12.4% -1,600,000 Midwest,
11 million workers South

Manufacturing has been one of the hardest One potential sign of life for the industry
hit sectors during the recent economic could come in the form of “green manufac-
turmoil. While the majority of the job losses turing.” These jobs failed to materialize at
were concentrated in housing and auto the rate originally hoped for, in fact, many
manufacturing related areas, the industry Americans believed they would materialize
continues to be a dominant portion of our in time to save employees displaced by the
workforce. In fact, standing alone, U.S. auto industry. However, a great potential
manufacturing would be the eighth largest for this industry remains unfulfilled. For
economy in the world. Hardest hit areas example, according to a report by the
of the industry continue to be those most Energy Department, the United States could
directly related to the construction industry make wind energy the source of one-fifth
as well as automobile manufacturing. of our electricity by 2030, up from about
Chrysler and GM announced bankruptcies 2 percent today. This sort of revolutionary
that resulted in massive layoffs and buy- shift would require nearly $500 billion
outs, which are likely to continue in 2010 in new construction and could potentially
and slow when consumer confidence add more than three million jobs, meaning
gains strength. renewed opportunity for growth for the
manufacturing industry. Until these jobs
materialize, the outlook for the manufac-
turing industry remains bleak.

Sources: New York Times, BLS, NAM


Where the jobs are:

By region
Northeast Midwest
Hub industries include: Hub industries include:
Professional/financial services, Manufacturing, construction,
education, medical and science technology.
research, healthcare and technology.
• The Midwest — the hub of the U.S.
• Much of the stability in this region manufacturing industry — has endured
is due to the high concentration of the majority of the negative impact
service-providing, highly skilled labor from the downturn in this sector;
opportunities. however, there is still demand for
business and professional services as
• Industries such as professional services, well as skilled manufacturing workers.
education and healthcare all have
large hubs in the Northeast and, • Government incentives have helped
as these industries continue to grow, to grow jobs in some of those hardest
job opportunities will be strong. hit sectors. One good example is
tax incentives provided to production
• The financial services sector has been companies who have increased TV
one of the hardest hit portions of the and film production in the Midwest over
economy, inside and outside of the
the past year — bringing much needed
mortgage space; however, growth
jobs to the area.
in accounting jobs has helped sustain
employment. • The heart of the American auto industry
is located in the Midwest and has
• As Wall Street remains in flux due to
suffered monumental job cuts and
the meltdown of the financial sector,
remains in a state of contraction and
jobs in the Northeast stand to benefit
transition.
most from the colossal bailout; however,
it will take time for the economy and • On April 30, 2009, Chrysler announced
job market to begin to feel the benefits bankruptcy plans, shortly followed
and recover from the credit freeze. by General Motors on June 1, 2009.
The closure of auto plants in the Midwest
Sources: BLS, MetroWest Economic Research Center, caused the region to suffer the highest
New York Times, New Jersey Department of Labor
and Workforce Development, Associated Press unemployment rates in the country
during 2009.

Sources: BLS, Associated Press


Where the jobs are:

By region
West South
Hub industries include: Hub industries include:
IT, engineering, finance/accounting. Engineering, healthcare, construction,
technology, professional services.
• The West has seen the largest year-
over-year unemployment increase as • Population declines and migration to
compared to the other regions, rising more lucrative areas, as well as farming
by 1.8 percent from September 2007 and manufacturing declines have saddled
to September 2008. the southern economy since the end
of the 20th century.
• The financial and housing crises have
had a big impact on California’s job • The South has been one of the most
market as the state unemployment rate stable regions, with unemployment
rose to its highest level in 12 years in remaining below the national average
2008 largely due to a halt in construction throughout 2009.
activity, falling home prices, and
• More than any other region, the South
a decrease in consumer spending.
benefits from a hybrid economy with
• California's Silicon Valley area has held a good mix of goods- and service-
its own despite the turmoil in the rest of producing jobs that have allowed the
the state. California is home to the highest region to maintain stability through the
number of tech workers in the country. current economic turmoil.

• Las Vegas continues to see job growth in • While major cities in every state in the
the hospitality jobs category but construc- south have experienced higher year-
tion has slowed, hindering the economic over-year job loss than their respective
acceleration seen in recent years. state’s average, Atlanta bucks the trend.
Atlanta’s pace of job loss was significantly
• Washington has enjoyed job growth in slower than the state of Georgia’s partly
the education, healthcare and publishing due to an influx of construction jobs as
sectors. According to the state’s chief home values in the city begin to rise again.
economist, the “economy is substantially
better than it was during the 2001 Sources: BLS, Associated Press, Miami Herald,
recession, when Washington’s employ- Dallas Morning News, Wall Street Journal

ment level declined for 20 consecutive
months.”

Sources: BLS, California EDD, Los Angeles Times,
the Las Vegas Review-Journal, Washington Employee
Security Department


Unemployment rates by state.
Seasonally adjusted, August 2009

( U.S. rate = 9.7% )
New England
West North
Central East North
Mountain Central

Middle Atlantic

D.C.

Pacific

South Atlantic
East
South
Central
West South Central

12.0% or higher
10.0% to 11.9%
8.0% to 9.9%
Note: The ranges used to depict data in this chart were updated
beginning with July 2009 data to reflect current economic conditions. 6.0% to 7.9%
5.9% or lower


A time of hesitant confidence.
2009 will be remembered as a time of great change in America, a time that changed
our perception of how the economy works and where we, as American workers,
fit into that cycle. Although we are far from a full upturn, 2010 is likely to be a time
of hesitant confidence. From employee to employer, citizen to politician, and consumer
to business owner, economic recovery will depend on the resilience of the American
workforce. If history is any indication of our success in that area, we’re headed
in the right direction.

“Over the years, the U.S. economy has shown a remarkable
ability to absorb shocks of all kinds, to recover, and to continue
to grow. Flexible and efficient markets for labor and capital,
an entrepreneurial tradition, and a general willingness
to tolerate and even embrace technological and economic
change all contribute to this resiliency.”
Ben Bernanke, Chairman of the Federal Reserve


About the Adecco Group
The Adecco Group, based in Zurich, Switzerland, is the world’s leading provider
of HR solutions. With over 29,000 full-time employees and more than 5,800 offices,
in over 60 countries and territories around the world, Adecco Group offers a wide
variety of services, connecting more than 500,000 colleagues with over 100,000
clients every day. The services offered fall into the broad categories of temporary
staffing, permanent placement, outsourcing, consulting and outplacement.
The Adecco Group is a Fortune Global 500 company.

Adecco S.A. is registered in Switzerland (ISIN: CH0012138605) with listings on the
SIX Swiss Exchange (ADEN) and on Euronext in France ADE).

Adecco Group North America
Every day, we provide our clients with the talent they need and help solve the
business challenges they face today — and will encounter tomorrow. Our clients
rely on us for a wide range of workforce solutions including:

• Contingent staffing and direct hire recruitment for large enterprise
organizations across all skill sets

• Workforce solutions and consulting including Managed Services
Programs (MSP) and Recruitment Process Outsourcing (RPO)

• Career transition and leadership consulting

• Specialty staffing, project solutions and consulting services

Additional information is available on our website adeccousa.com.

877.8.adecco
adeccousa.com

©2010 Adecco

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Similaire à Adecco Jobmarket 2010 (2) (7)

Adecco Jobmarket 2010 (2)