The employment Restructuring Report is compiled by Kelly services. It provides a timely review of economic, labour and hiring conditions in the relevant markets, with a detailed focus on the most recent data regarding mass layoffs and restructuring. The report is compiled utilising publicly available data from official, private and not-for-profit organisations. published on a quarterly basis, the employment Restructuring Report is available in separate editions for the United States and the European Union.
2. 2 | Employment Restructuring Report | united states edition Q1 2013
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.
02 It aims to provide a
summary of the leading
US regional labor trends p/7 factors contributing to
labor and hiring conditions
03 in 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/21
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,
Announced US job layoffs by region P/8 completeness,
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 Q1 2013 contents
summary
01 US Labor
market trends
02 US regional
labor trends
03 most heavily
summary ➔ The US economy
enters 2013 with confidence
A big falloff in defense
spending was the main drag
reach of its unemployment
target of 6.5%
by the impact of Hurricane
Sandy on businesses in
impacted sectors
04 US labor
market outlook
returning, and positive signs on the weaker GDP outcome New Jersey and New York. 05 major
in a number of segments The monetary expansion will Meanwhile, job openings announced
in the final quarter of 2012. US job layoffs
including the labor market. be all the more important in have held at around the
Elsewhere in the economy, about this
offsetting the rolling series of 3.6 million mark, reflecting the report
there were more positive signs
A big falloff in The meager 0.1% expansion spending cuts that will occur improving trend.
including in employment,
defense spending in the US economy in the final under the sequester aimed at
housing and manufacturing.
was the main drag quarter of 2012 was an abrupt cutting the budget deficit. Growth in the US is tipped to
on the weaker GDP reminder that the recovery is continue on track and gain
With 12.3 million people
outcome in the final still fragile, with the broader The policy settings suggest momentum during the second
unemployed and the jobless
quarter of 2012. economy having advanced steady expansion and half. There is now a host of
rate stuck at around 7.9% there
2.2% over the full year. employment growth. The positive signs, notably a pick
is likely to be no immediate
numbers continue to please, up in manufacturing activity,
easing in the Federal Reserve’s
with 157,000 new jobs to a record high on the share
monetary expansion, meaning
be created in the new year market and encouraging news
the foot remains on the
and revisions that added an internationally, with Japan also
growth accelerator for the
additional 150,000 new jobs in in stimulus mode and China
foreseeable future.
the final quarter of 2012. resuming growth.
Confirmation that the Federal Domestically, consumer
Despite the slower growth in
Reserve will sustain its spending is still weak and on
the final months of last year,
quantitative easing program the global front, the eurozone
more than 600,000 new jobs
indicates it is less worried remains a concern, with t
were created.
about inflation and more he major economies
concerned with boosting the Mass layoffs jumped in the still contracting.
recovery and getting within final quarter of 2012, boosted
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4 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
01 US Labor
market trends
02 US regional
labor trends
01
03 most heavily
➔ There was a blip in for only a small part of the in some areas accompanied Job openings have been impacted sectors
the number of mass layoffs increase. The construction remarkably stable at this 04 US labor
by attrition in others. market outlook
in the final quarter of 2012 industry reported a higher level for the past year, even 05 major
as reflected in the quarterly than usual increase in layoffs, Job gains are being seen in the breakdown between announced
US job layoffs
initial claims data from the largely associated with the mining, retail, health care government and private
US labor Bureau of Labor Statistics. completion of seasonal work. and wholesale trade while sectors has held steady.
about this
report
market Almost 547,000 workers The manufacturing sector
losses are occurring in
There have been increases in
trends
transport and warehousing.
were affected by layoffs in also suffered a reversal job openings over the course
the December quarter, up with layoffs rising, particularly of the year in retail, real estate,
Job openings are maintaining
from 332,000 in the in the transport and food education, health care and
a steady improvement,
September quarter and the production sectors. social assistance but decreases
standing at approximately 3.6
highest in three years. in mining and professional and
The data reflect a degree million at the start of 2013.
business services.
The disruption wreaked by of volatility in the labor This compares with 2.4 million
Hurricane Sandy accounted market, with new jobs growth at the end of the recession.
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400000
5 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
01 US Labor
market trends
200000
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
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 2012/Q4 02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
US mass layoffs (Q1 2006 to Q4 2012) 05 major
announced
US job layoffs
1,000,000 about this
report
The disruption
wreaked by Hurricane
Sandy accounted 800,000
for only a small
part of the increase.
The construction
600,000
industry reported a
higher than usual
increase in layoffs,
400,000
largely associated
with the completion of
seasonal work.
200,000
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
2012/Q4
Source: US Bureau of Labor Statistics
6. 1000000
home
6 | Employment Restructuring Report | united states edition Q1 2013 contents
500000
summary
0 01 US Labor
June August November 20092010 2010 2010 20102010 2010February 2011June August November 20112012 2012 2012 2012 December 2012 market trends
July 20092009 2009February 2010June August November 20102011 2011 2011 20112011 2011February 2012JuneAugust November 2012
2009October 2009 2009 May July October 2010 2010 May July October 2011 2011 May July October 2012
September January April 2010 2010
December March September January April 2011 2011
December March September January April 2012 2012 2012 2012
December March September
02 US regional
labor trends
03 most heavily
impacted sectors
04 US labor
market outlook
US JOB openings (JUNE 2009 to DEC 2012) 05 major
announced
US job layoffs
4,000,000 about this
report
There have been
3,500,000
increases in job
openings over the 3,000,000
course of the year
2,500,000
in retail, real estate,
education, health care 2,000,000
and social assistance.
1,500,000
1,000,000
500,000
0
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
October 2012
November 2012
December 2012
Source: US Bureau of Labor Statistics
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7 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
01 US Labor
market trends
02 US regional
labor trends
02
03 most heavily
➔ There were increases The west is the only region to impacted sectors
in layoffs experienced across have experienced a decline in 04 US labor
market outlook
all the major regions of the US the number of layoffs over the 05 major
in the final quarter of 2012. course of 2012 – all the other announced
US job layoffs
regions suffered increases,
US regional The midwest had the highest with the worst performance in
about this
report
labor number of layoffs, with almost
149,000 jobs disappearing,
the northeast, where layoffs
almost doubled in a year.
trends largely due to a downturn in
the construction sector.
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8 | Employment Restructuring Report | united states edition Q1 2013 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 (Q2 2010 to Q4 2012) 05 major
announced
US job layoffs
200,000
about this
report
150,000
100,000
50,000
0
Northeast South Midwest West
Source: US Bureau of Labor Statistics
Q2 2010 Q4 2011
The Midwest had Q3 2010 Q1 2012
Q4 2010 Q2 2012
the highest number Q3 2012
Q1 2011
of layoffs, with Q2 2011 Q4 2012
Q3 2011
almost 149,000 jobs
disappearing, largely
due to a downturn
in the construction
sector.
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9 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
01 US Labor
market trends
02 US regional
labor trends
03
03 most heavily
➔ The manufacturing The Food and Job openings remained largely The only sector to see impacted sectors
sector suffered the brunt of the Accommodation sector significantly lower job 04 US labor
steady across the board and market outlook
layoffs during the December also experienced the across most industry sectors. openings in the quarter 05 major
was Professional Business announced
quarter, with 161,000 positions impact of tight seasonal US job layoffs
Services, which also went
most abolished, accounting for conditions, which saw One area that experienced about this
report
almost one-third of all layoffs. 60,000 positions scrapped. some improvement was against the trend over
heavily There was a steep Transportation and
Trade, Transportation and
the course of the year.
impacted deterioration in Construction Warehousing worsened,
Utilities, where job vacancies
rose during the final months
sectors activity that saw 66,000
construction jobs go, the
with 41,500 individuals
laid off, while 21,000 of 2012. The Leisure and
highest quarterly rate of government employees Hospitality sector also saw
layoffs in two years. were made redundant. improved openings.
10. 40000
home
10 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
0
Administrative andConstruction and food services Government technical services
ManufacturingAccommodation
wasteTransportation andRetail trade
services warehousing
Professional and Healthcare andArts, entertainment and recreation insuranceReal estate
Information social assistance
Wholesale trade Mining and
Finance Educational services 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 (Q1 2012 to Q4 2012) 05 major
announced
US job layoffs
200,000
about this
Q1 2012 report
Q2 2012
160,000
Q3 2012
Q4 2012
120,000
80,000
40,000
0
Manufacturing
Administrative and
waste services
Construction
Accommodation and
food services
Transportation and
warehousing
Retail trade
Government
Professional and
technical services
Information
Healthcare and
social assistance
Wholesale trade
Arts, entertainment
and recreation
Mining
Finance and insurance
Educational services
Real estate
Source: US Bureau of Labor Statistics
The Manufacturing sector suffered the brunt of the layoffs
during the December quarter, with 161,000 positions abolished.
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11 | Employment Restructuring Report | united states edition Q1 2013 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 (MAR 2011 to DEC 2012) 05 major
announced
US job layoffs
800,000
One area that March 2011
about this
report M
700,000 June 2011
has experienced
some improvement 600,000
Sept 2011 J
Dec 2011
was Trade,
Transportation
500,000
March 2012
June 2012
S
and Utilities, where
job vacancies rose
400,000 Sept 2012
Dec 2012 D
300,000
during the final
months of 2012.
M
200,000
J
100,000
0
S
Education and
Health Services
Trade, Transportation
and Utilities
Professional
Business Services
Leisure and Hospitality
Government
Manufacturing
Construction
D
Source: US Bureau of Labor Statistics
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12 | Employment Restructuring Report | united states edition Q1 2013 contents
summary
01 US Labor
market trends
02 US regional
labor trends
04
03 most heavily
➔ The labor market is but for the moment these The IMF is forecasting 2% Weak banks in Europe are also impacted sectors
likely to benefit from the are seen as the lesser evils. GDP growth for the US in 04 US labor
acting as a drag on growth market outlook
more broad-based recovery 2013, with the pace of activity and a potential flashpoint 05 major
There are clearly some announced
that is now occurring in quickening in the second half. unless non-performing loans, US job layoffs
divisions emerging at top
the US and in some parts
US labor of the global economy.
policy levels as to when is
That rate of growth may well
be exceeded if, as now seems
write downs and capital about this
report
injections can be managed.
market The early part of 2013 has
the best time to withdraw
the Federal Reserve’s
likely, the quantitative easing
Europe will not return to
outlook
measures are sustained, and
been characterized by a monetary stimulus. All the
provided Congress can avoid growth until 2014, so for the
definite shift in business and signs suggest that there
a series of automatic spending rest of this year, it will be a
investor sentiment, largely will be no withdrawal until
cuts due to start in March. two-track global economy,
flowing from the passing the unemployment rate
of the fiscal cliff in the US has started to show some fuelled by a tepid US recovery,
The major risks to the US
and the easing of fears substantial improvement. a resurgent China, and Japan,
recovery probably stem from
surrounding the eurozone with a new leader determined
the continued unsettling
The mandatory budget
sovereign debt situation. to snap a 20-year slump on
cuts under sequestration economic and political
the back of money printing.
Monetary expansion in will have a contractionary situation in Europe, where the
the US and Japan, and a impact but may not be as region is expected to contract
If the share markets are any
series of global currency debilitating as some believed. once again during 2013.
guide then 2013 will be
devaluations, are making the
Only a handful of economies a bumper year but there
There are positive signs
biggest economies more
coming from China where will record positive growth are more than enough
competitive and helping
manufacturing activity has and unemployment remains potholes to suggest it will
to sustain the recovery.
hit a two-year high, and from high, while political and social be a most interesting ride!
The flip side of quantitative Germany, the engine room unease is always a risk as
easing is the problem of of the EU, where business governments grapple with
inflation and debt reduction, confidence is at a record level. multiple policy problems.
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13 | Employment Restructuring Report | united states edition Q1 2013 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
Abbott Laboratories 550 Health and medical October
market outlook
Advance Auto Parts Andersonville 80 Manufacturing November 05 major
Advanced Micro Devices 1,770 Technology October announced
US job layoffs
Adventist Health 48 Health and medical November
major Aerodynamics Inc 86 Aerospace December
about this
report
announced
Aetna Inc Connecticut 80 Insurance October
AFL Quality Inc. 63 Business Services November
US job Air National Guard
Allegany Ballistics Laboratory, West Virginia
71 Aviation
50 Defense
October
November
layoffs Allonhill LLC
AM General
140 Banking and finance
100 Defense
December
December
OCT to DEC 2012 AM General Indiana 400 Defense December
American Airlines 73 Aviation December
American Airlines, Nashville and Memphis 100 Aviation October
American Airlines, Tulsa 450 Aviation October
American Coal 54 Resources and utilities November
American Fuel Cells and Coated Fabrics (Amfuel) 40 Manufacturing October
Ameridose LLC 650 Pharmaceuticals November
Amsted Rail 94 Transport October
Anchorage School District, Alaska 100 Education November
Anderson Tully Company 80 Manufacturing December
Anglo American Platinum 12,000 Mining October
Applied Materials 900 Manufacturing October
APS Healthcare 133 Health and medical October
AT&T, Connecticut 106 Telecommunications December
AT&T, Southeast operations 300 Telecommunications December
Aveo Oncology 45 Health and medical October
Awrey’s, Michigan 150 Food and beverage November
Bank of America, Glendale 281 Banking and finance December
BASF 400 Manufacturing October
Bigpoint 120 Media and entertainment October
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14 | Employment Restructuring Report | united states edition Q1 2013 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
Bigpoint Games, San Francisco 47 Media and entertainment November
market outlook
BlueCross BlueShield, Tennessee 100 Insurance October 05 major
Boeing 30% of Executives Aerospace November announced
US job layoffs
Bogalusa Medical Center 47 Health and medical November
about this
Bostwick Laboratories Inc. 90 Health and medical December report
Brake Parts LLC 75 Manufacturing November
Bristol Myers 480 Pharmaceuticals November
Brooks Automation 100 Manufacturing December
ButterKrust Bakery, Lakeland Florida 32 Food and Beverage October
C.R. Bard, Queensbury New York 54 Manufacturing November
California Correctional Health Care 2,200 Health and medical December
Cardinal Health, Albuquerque 150 Health and medical October
CCS Medical, Tampa Bay 82 Health and medical October
Celgard 40 Manufacturing December
Center for Hospice / Palliative Care, New York 40 Health and medical November
Chesapeake Energy 275 Resources and utilities December
Choice Hotel International, Colorado 100 Accommodation October
Cigna 1,300 Insurance November
Citigroup Inc 11,000 Banking and finance December
Citigroup Securities Unit 150 Banking and finance November
City of Atwater, California 38 Government October
City of Miami, Oklahoma 50 Government December
CityGrid 60 Media and entertainment October
Cliffs Natural Resources 625 Mining November
Coda Automotive 50 Manufacturing December
Colgate Palmolive Co 2,300 Health and medical October
Condé Nast 60 Media and entertainment October
Consol Energy, West Virginia 145 Resources and utilities October
Cooper Green Mercy Hospital, Alabama 200 Health and medical December
Corning, Erwin New York 100 Manufacturing November
Credit Suisse Group, New York 120 Banking and finance December