{"id":28560,"date":"2015-01-07T19:00:53","date_gmt":"2015-01-08T00:00:53","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/01\/economic-outlook-2015---dhianna-yezzi.html"},"modified":"2015-01-07T19:00:53","modified_gmt":"2015-01-08T00:00:53","slug":"economic-outlook-2015-dhianna-yezzi","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/01\/economic-outlook-2015-dhianna-yezzi\/","title":{"rendered":"Economic Outlook 2015 – Dhianna Yezzi"},"content":{"rendered":"
\n
\"dhianna\n<\/div>\n
Dhianna Yezzi, owner, Integrated Staffing, Saratoga Springs\n<\/div>\n<\/div>\n

BY DHIANNA YEZZI<\/p>\n

I have been accused, in writing annual
\nforecasts, of being too positive and too enthusiastic
\nabout the upcoming year’s economic
\nenvironment, especially as it relates to jobs
\nand employment.<\/p>\n

How can I not be enthusiastic? Every year
\nsince 2009 we have seen growth.
\nThe Bureau of Labor Statistics reported on
\nDec. 5 that employers added 321,000 jobs in
\nNovember, the most in nearly three years. This
\nhas been the best 12 months of job increases
\nsince 1999.<\/p>\n

Job growth was widespread, led by gains
\nin professional and business services, retail
\ntrade, health care, and manufacturing. Employment
\ncontinued to trend up in temporary help
\nservices (+23,000), management and technical
\nconsulting services (+7,000), computer
\n(+5,000), and employers are paying workers
\nmore. Average weekly earnings rose 2.4 percent
\nfrom a year earlier, their fastest pace in a year.<\/p>\n

Another piece of good news: Employment in
\nprofessional and business services increased by
\n86,000 in November, compared with an average
\ngain of 57,000 per month over the prior
\n12 months. So these job gains are not on the
\nlow paying scale, the average hourly salary in
\nthe professional and business sector is $24.66.<\/p>\n

Even first-time jobless claims in the week
\nending Dec. 13 were down 6,000 from the
\nprevious week’s level. Economists at Briefing.com say the claims data continue to suggest an
\neconomy at, or near, full employment.<\/p>\n

In local employment news, the current unemployment
\nrate was 4.1 percent in Saratoga
\nCounty. And job growth also was strong, with
\nthe Capital Region recovering all the jobs it had
\nlost during the Great Recession.<\/p>\n

But the workforce is shrinking, and by
\nNovember was down to levels not seen for
\nthe month since 1996. Analysts attributed the shrinkage to two factors: an aging workforce
\nthat was retiring, and discouraged workers who
\nhad given up the search for a job.<\/p>\n

So where are the jobs in 2015? According
\nto Simply Hired, media, healthcare, manufacturing,
\nmilitary and construction are the
\nindustries that will continue to show growth.
\nInformation Technology positions, including
\nweb and software development job postings,
\nare up 15 percent from 2010. In fact, 70 percent
\nof Americans currently hold jobs that were
\ntechnically nonexistent 20 years ago.<\/p>\n

So I’m still thinking positive for 2015. There’s
\nalways a chance that Russia’s economic crisis
\ncould affect our continued recovery or that
\na Middle East conflict could disrupt growth.
\nBut the falling oil prices are expected to help
\nthe U.S. economy, and add to employment and
\nbusiness activity.<\/p>\n

This slow and meandering recovery that I
\nhave had the pleasure of reporting about for
\nthese forecasts over the last few years seems
\nto be continuing. But I think it’s time to retire
\nthe “recovery” moniker that we have used
\nsince 2009.<\/p>\n

We have gained all the jobs lost from the
\nGreat Recession and we can look forward to
\nsustaining that growth in 2015. We’ve recovered.<\/p>\n","protected":false},"excerpt":{"rendered":"

Dhianna Yezzi, owner, Integrated Staffing, Saratoga Springs BY DHIANNA YEZZI I have been accused, in writing annual forecasts, of being too positive and too enthusiastic about the upcoming year’s economic environment, especially as it relates to jobs and employment….<\/p>\n","protected":false},"author":121,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[57],"class_list":["post-28560","post","type-post","status-publish","format-standard","hentry","category-business-news","tag-business-news"],"yoast_head":"\r\nEconomic Outlook 2015 - Dhianna Yezzi - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2015\/01\/economic-outlook-2015-dhianna-yezzi\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"Economic Outlook 2015 - 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