Economic Trends for 2011

We're almost through the first quarter of 2011.
Below are some stats from a January article by the Biz Times that were compiled from a number of sources.
None of them took into account full scale revolution in the middle east and a disaster in Japan, however are they still on track? Many of the employers I talk to still echo these positive ideas when they look long term at 2011 and that is good news for hiring! What do you think?
Ev
"A Heck of A Nice Guy"

Economic Trends 2011: It’s time to get BACK TO
BUSINESS; Steve Jagler

1. Economist Michael Knetter, President and CEO of
the University of Wisconsin Foundation predicts
4% growth in GDP resulting in improved job
creation and lower unemployment for 2011.

2. The American Automotive industry continues to
recover which bodes well for Wisconsin
manufacturers of automotive parts.

3. Metropolitan Milwaukee ranks as the third-best
net employment market in the nation, according
to the latest Manpower Employment Outlook
Survey.

4. Automatic Data Processing Inc. (ADP) said U.S.
private-sector employment jumped a record
297,000 in December, signaling that the economic
recovery is picking up its pace.

5. The national unemployment rate fell to 9.4% in
December, the lowest since May of 2009,
according to the U.S. Department of Labor. The
Wisconsin unemployment rate has consistently
tracked more than two percentage points below
the national average.

Employment: Job market on the mend; Alysha Schertz

According to Owen Sullivan, executive vice president of
Milwaukee-based Manpower Inc. and chief executive officer
of Manpower subsidiaries Right Management and Jefferson
Wells:

• The overall economies of southeastern Wisconsin and the
rest of the world are showing signs of improvement.

• During the latter half of 2010, more companies were adding
temporary workers to fulfill their inventory demand needs,
and more jobs are becoming permanent placement
positions, a trend that will continue in 2011.

• 30% of employers in the U.S. and up to 34% across the
globe are having problems finding employees with the right
skills.

• The retirement trend will sustain for the next ten years. It’s
a global issue … that will become even bigger if the problem
isn’t addressed now.

Metropolitan Milwaukee Association of Commerce: MMAC employers are optimistic about 2011; Steve Jagler

According to the latest Business Outlook Survey conducted by the MMAC, Milwaukee area businesses are expressing
solid optimism about 2011 as a whole and for the year’s first quarter.

1. 66% of surveyed companies see real sales increases.
a. Manufacturers are more optimistic than non-manufacturers. 88% see sales increases for 2011.
b. Smaller firms are somewhat more confident than larger firms.

2. 67% of all employers surveyed see profit level increases.

3. More than half of those surveyed expect job increases in 2011.
a. Manufacturers were particularly optimistic.
b. By employment size, job expectations are fairly even.

4. Salary and wage expectations have risen in recent quarters but remain moderate in size.
a. The average change in a person’s wages and salaries is predicted to rise 2.2%, above the prediction from three months ago.

Council of Small Business Executives: Small business executives bullish on 2011; Steve Jagler

The majority of members of the Council of Small Business Executives (COSBE) board of directors in Milwaukee expect
2011 to be a year of more revenues, more hiring and more investments in technology or equipment. 63.2% said 2011
will be a good year.

1. 89.5% expect their companies’ revenues will grow.

2. 63.2% expect their companies to add to their workforce.

3. 63.2% plan to hire temporary help

4. 52.6% expect to make significant investments in new technology or equipment.


Economic Trends for 2011
Research Compilation, Biz Times, January 21, 2011
Researched and Compiled by:
Impact Consulting Group, LLC 125 North Executive Drive #378 Brookfield, WI 53005
262-821-8178 www.livingasaleader.com