http://www.bloomberg.com/news/2010-08-26/business-spending-drop-in-u-s-may-hit-job-market-undermining-recovery.html
Slower U.S. Capital Investment May Reach Job Market
A slowdown in U.S. business investment may soon hit the job market, further hindering a recovery in the world’s largest economy.
Capital spending, one of the few bright spots in the recovery, declined in July, according to Commerce Department figures released yesterday in Washington. Sales of new homes fell to the lowest level since data began in 1963, another report from the same agency showed, indicating a lack of jobs is crippling housing.
Employers are reluctant to take on more staff until they see more evidence of durable growth, keeping unemployment near a 26-year high and holding back the consumer spending that makes up 70 percent of the economy. A Labor Department report next week may show that private payrolls failed to grow in August for the first time in eight months, said Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. in New York.
“If capital spending does weaken further, then that raises some concerns about labor demand and whether firms want to increase hires,” said Feroli, who reckons the odds of a recession have increased in the past two weeks to about one-in- three. A decline in private payrolls “would raise some concern about whether the recovery is proceeding or not. If you see a couple of months of decline you’d be more confident that we actually were in a recession.”
Jobless Claims
Applications for unemployment benefits dropped by 31,000 last week to 473,000, the Labor Department said today. The weekly average over the past month climbed to the highest level since November even as the latest reading provided some relief that the job market isn’t rapidly deteriorating as the economy slows.
Claims were forecast to fall to 490,000, according to the median estimate of 48 economists surveyed by Bloomberg News. Projections ranged from 475,000 to 510,000.
Yesterday’s Commerce Department report showed bookings in July for goods made to last at least three years rose 0.3 percent, compared with the 3 percent median gain forecast in a Bloomberg survey. Excluding transportation equipment, demand fell by the most in more than a year.
Orders for non-defense capital goods excluding aircraft, a proxy for future business investment, dropped 8 percent after climbing 3.6 percent in June. Over the past three months, these orders climbed at a 20 percent annual pace, down from a 31 percent gain in the three months to June, signaling companies will rein in investment.
Equipment Shipments
Shipments of those items, used in calculating gross domestic product, decreased 1.5 percent after rising 1 percent in June. A report from the Commerce Department tomorrow may show the economy expanded at a 1.4 percent rate in the second quarter, down from the 2.4 percent pace previously estimated.
“The manufacturing sector that has played a leading role in the economic recovery to date is beginning to ebb,” said John Lonski, chief economist at Moody’s Capital Markets Group in New York, who also put the odds of another economic slump at about one-in-three, twice as high as earlier this year. “That warns of a softening in economic growth in the months ahead.”
Yesterday’s reports put pressure on the Federal Reserve to take additional steps to sustain the recovery from the worst downturn since the 1930s. Policy makers led by Chairman Ben S. Bernanke on Aug. 10 decided to keep the Fed’s holdings of securities stable at $2.05 trillion to prevent money from being drained from the financial system.
Goldman Sachs
Economists at Goldman Sachs Group Inc. yesterday said in a note to clients that further action from the Fed “will be forthcoming later this year or early next year, as slow growth and rising unemployment raise concerns about a potential double dip,” or a relapse into a recession.
With little more than two months remaining before the midterm elections in which Republicans hope to claim a majority in Congress, some lawmakers are stepping up attacks on Democrats. House Republican leader John Boehner this week called on President Barack Obama to fire Treasury Secretary Timothy Geithner and the other remaining members of the president’s economic team, saying the stimulus policies are failing to create jobs.
Stocks rallied yesterday, erasing earlier losses, and Treasuries dropped on speculation the retreat in riskier assets was overdone given the economic outlook. The Standard & Poor’s 500 Index rose 0.3 percent to 1,055.33 at the 4 p.m. close in New York. The yield on the benchmark 10-year note increased to 2.54 percent from 2.49 percent.
Shares of Manufacturers
Shares of manufacturers are still outperforming the broader market. The Standard & Poor’s Supercomposite Machinery Index is up 5.8 percent so far this year through yesterday, while the S&P 500 is down 5.4 percent.
Cisco Systems Inc., the world’s largest maker of networking equipment, this month forecast first-quarter sales that missed analysts’ estimates. Chief Executive Officer John Chambers said the San Jose, California-based company was seeing “unusual uncertainty” and getting “mixed signals” about the health of the economy.
Michael Hilton, chief executive officer of Nordson Corp., said the company’s customers, while “a little more cautious,” are still placing orders at a robust pace. Bookings at the Westlake, Ohio-based maker of machines that apply adhesives rose 30 percent in the three months ended Aug. 15 from a year earlier.
Recovery ‘Uncertain’
“The shape of global recovery continues to remain uncertain,” Hilton said on an Aug. 20 conference call with analysts. “Most economists expect slower growth in the second half of the calendar year given the lack of an inventory build and fiscal stimulus, and with China attempting to rein in growth, yet they still project growth and not a double-dip.”
Private payrolls that exclude government agencies rose by 71,000 in July after gaining 31,000 the previous month. Companies added workers at a faster pace earlier this year, boosting payrolls by 158,000 in March and 241,000 in April, according to Labor Department figures.
A survey of economists by Bloomberg this month forecast unemployment will end the year at 9.5 percent, unchanged from the rate in June and July.
Thursday, August 26, 2010
Wednesday, August 11, 2010
Economic Trends Index Rises, But S-L-O-W-L-Y
Economic Trends Index Rises, But S-L-O-W-L-Y
by John Zappe Aug 9, 2010, 2:37 pm ET
http://www.ere.net/2010/08/09/economic-trends-index-rises-but-s-l-o-w-l-y/
Another sign of the weak U.S. recovery: The Conference Board’s Employment Trends Index, released this morning, added three-tenths of a point in July, and now stands at 97.0.
To put this into perspective, the ETI stood at 100 in 1996, shortly after the economy began its Internet-fueled meteoric rise. By 2000 it was past 120 on its way (but not quite reaching) 130.
Though the ETI is now 9.8 percent higher than it was a year ago, its growth has slowed significantly in the last three months. In May, the index was 96.1. In April it was 95.2 and in March it was 93.9. June’s index was 96.7.
“The growth rate of the Employment Trends Index slowed sharply in the past three months, suggesting that employment growth will remain too weak to keep up with the increase in the working-age population,” said Gad Levanon, associate director, Macroeconomic Research at The Conference Board. “The disappointing employment numbers may indicate that the low levels of household spending and confidence are making businesses more cautious when it comes to hiring.”
Though there are several indices of economic health and trends compiled by The Conference Board, its Economic Trends Index is unique in that it is a composite of multiple measures. Among other things, it takes into account initial unemployment claims filed, the number of temp workers hired as reported by the U.S. Bureau of Labor Statistics, the Federal Reserve’s Industrial Production Index, and the percentage reporting they find “Jobs Hard to Get” from The Conference Board’s own Consumer Confidence Survey.
According to The Conference Board, “The main benefit of looking at a composite index is that individual indicators sometimes show erratic movements from month to month that do not necessarily reflect underlying trends.”
The Economic Trends Index reinforces what the Bureau of Labor Statistics reported Friday: the unemployment rate was unchanged, while new, private sector jobs created in July was a mere 71,000, less than half what economists estimate is needed to keep pace with workforce growth.
tags: economicdata, trends
by John Zappe Aug 9, 2010, 2:37 pm ET
http://www.ere.net/2010/08/09/economic-trends-index-rises-but-s-l-o-w-l-y/
Another sign of the weak U.S. recovery: The Conference Board’s Employment Trends Index, released this morning, added three-tenths of a point in July, and now stands at 97.0.
To put this into perspective, the ETI stood at 100 in 1996, shortly after the economy began its Internet-fueled meteoric rise. By 2000 it was past 120 on its way (but not quite reaching) 130.
Though the ETI is now 9.8 percent higher than it was a year ago, its growth has slowed significantly in the last three months. In May, the index was 96.1. In April it was 95.2 and in March it was 93.9. June’s index was 96.7.
“The growth rate of the Employment Trends Index slowed sharply in the past three months, suggesting that employment growth will remain too weak to keep up with the increase in the working-age population,” said Gad Levanon, associate director, Macroeconomic Research at The Conference Board. “The disappointing employment numbers may indicate that the low levels of household spending and confidence are making businesses more cautious when it comes to hiring.”
Though there are several indices of economic health and trends compiled by The Conference Board, its Economic Trends Index is unique in that it is a composite of multiple measures. Among other things, it takes into account initial unemployment claims filed, the number of temp workers hired as reported by the U.S. Bureau of Labor Statistics, the Federal Reserve’s Industrial Production Index, and the percentage reporting they find “Jobs Hard to Get” from The Conference Board’s own Consumer Confidence Survey.
According to The Conference Board, “The main benefit of looking at a composite index is that individual indicators sometimes show erratic movements from month to month that do not necessarily reflect underlying trends.”
The Economic Trends Index reinforces what the Bureau of Labor Statistics reported Friday: the unemployment rate was unchanged, while new, private sector jobs created in July was a mere 71,000, less than half what economists estimate is needed to keep pace with workforce growth.
tags: economicdata, trends
The Sad Existence of the Active Candidate
The Sad Existence of the Active Candidate
by Howard Adamsky Aug 9, 2010, 2:09 pm ET
http://www.ere.net/2010/08/09/the-sad-existence-of-the-active-candidate/#more-14259
“To see the right and not do it is cowardice.”
–Author Unknown
A recent article by John Zappe entitled Should We Be Telling the Unemployed Not to Apply? was excellent. Furthermore, judging by the varied, contentious, and well-thought-out comments, John’s work clearly struck a nerve with a cross section of ERE readership, this writer included.
Tell the unemployed not to apply? Why not? Welcome to the ugly underbelly of capitalism, artificially induced fairness, and employment rage of the masses. Welcome to the new world order that simply does not have enough to go around, combined with the enabling technology’s required to outsource as many possible jobs to the most dirt-poor places on this planet. Think of how Ralph Lauren lives and think of how those who make his clothing live. Beyond despicable.
Welcome to the sad realization that capitalism tends to work far better when there is a surplus as opposed to a shortage; when there is an oily excess that tends to hide the evil of discrimination and of inequity and of monstrous corruption. Welcome to the post-surplus economy of underemployment and lost careers, of investments vaporized and the numbing fury that accompanies learned helpless. Welcome the myopic CEO who views employees as an expense to cut as opposed to an investment to nurture. Welcome my fiends, to the new normal.
Not hire the unemployed? Horrifying, of course, but let’s be honest here. Discrimination of the unemployed has been going on for as long as I have been recruiting. (Also among the short, gay, old, obese, and assorted others but later for that.) Unspeakably evil in its intent as well as its outcome, but let’s be realistic: most companies do not want to hire the unemployed. After all, if they were any good, they would have a job right?
If, as a recruiter, if you do not see this as an almost everyday reality, then you fall into one of four categories:
You work for one of the small handful of organizations that try to do what is right.
You recruit for some type of a job that is so hard to fill that no one really cares about anything if the person is qualified to do the job. Two heads? No problem here.
You push like hell to influence decisions that allow you to sleep at night.
You are living under a rock.
Not hiring the unemployed used to be a dark little secret, but not anymore. Care to know what gave it a sense of being OK? The passive candidate movement, of course. See The Myth of the Passive Candidate and read the comments; your comments. Passive recruiting, although not necessarily evil in its intent, was the beginning of the legitimization of discrimination against active candidates, as it preached the wonders of going to the “deepest, darkest corners of the web” to identify candidates. Quite frankly, passive recruiting lined the pockets of many, and told us that those looking for a job are losers. Honestly, if this is not a felonious embarrassment to the world of recruiting, what is? Want passive candidates? Go and get them after the active ones have been ruled out because they are unqualified, not before. (I am always on the hunt for work so that makes me an active candidate. Think I‘m an incompetent?)
How to fix it?
Do we need “smarter, more-business-savvy recruiters with backbones” as per Steve Levy’s suggestion? Of course.
Do we need more government in our business to help us to go from inefficient to less efficient? God no.
Do we need self-policing and internal audits to secure the elusive fairness for which we claim to struggle? Nope.
We need what has been lost in our society: a sense of fairness, decency, and community. A belief that we need to do what makes us right as opposed to what makes us rich. Even in this age of bad behavior and gushing oil, trips to rehab and corporate looters, it is important to manage this situation and remember that if we fail in the effort to achieve decency, no small gains form any company profit will help us come to any good. To tell anyone that active candidates are of poor quality solely because they are active in the midst of the worst economic times since the great depression is unconscionable.
by Howard Adamsky Aug 9, 2010, 2:09 pm ET
http://www.ere.net/2010/08/09/the-sad-existence-of-the-active-candidate/#more-14259
“To see the right and not do it is cowardice.”
–Author Unknown
A recent article by John Zappe entitled Should We Be Telling the Unemployed Not to Apply? was excellent. Furthermore, judging by the varied, contentious, and well-thought-out comments, John’s work clearly struck a nerve with a cross section of ERE readership, this writer included.
Tell the unemployed not to apply? Why not? Welcome to the ugly underbelly of capitalism, artificially induced fairness, and employment rage of the masses. Welcome to the new world order that simply does not have enough to go around, combined with the enabling technology’s required to outsource as many possible jobs to the most dirt-poor places on this planet. Think of how Ralph Lauren lives and think of how those who make his clothing live. Beyond despicable.
Welcome to the sad realization that capitalism tends to work far better when there is a surplus as opposed to a shortage; when there is an oily excess that tends to hide the evil of discrimination and of inequity and of monstrous corruption. Welcome to the post-surplus economy of underemployment and lost careers, of investments vaporized and the numbing fury that accompanies learned helpless. Welcome the myopic CEO who views employees as an expense to cut as opposed to an investment to nurture. Welcome my fiends, to the new normal.
Not hire the unemployed? Horrifying, of course, but let’s be honest here. Discrimination of the unemployed has been going on for as long as I have been recruiting. (Also among the short, gay, old, obese, and assorted others but later for that.) Unspeakably evil in its intent as well as its outcome, but let’s be realistic: most companies do not want to hire the unemployed. After all, if they were any good, they would have a job right?
If, as a recruiter, if you do not see this as an almost everyday reality, then you fall into one of four categories:
You work for one of the small handful of organizations that try to do what is right.
You recruit for some type of a job that is so hard to fill that no one really cares about anything if the person is qualified to do the job. Two heads? No problem here.
You push like hell to influence decisions that allow you to sleep at night.
You are living under a rock.
Not hiring the unemployed used to be a dark little secret, but not anymore. Care to know what gave it a sense of being OK? The passive candidate movement, of course. See The Myth of the Passive Candidate and read the comments; your comments. Passive recruiting, although not necessarily evil in its intent, was the beginning of the legitimization of discrimination against active candidates, as it preached the wonders of going to the “deepest, darkest corners of the web” to identify candidates. Quite frankly, passive recruiting lined the pockets of many, and told us that those looking for a job are losers. Honestly, if this is not a felonious embarrassment to the world of recruiting, what is? Want passive candidates? Go and get them after the active ones have been ruled out because they are unqualified, not before. (I am always on the hunt for work so that makes me an active candidate. Think I‘m an incompetent?)
How to fix it?
Do we need “smarter, more-business-savvy recruiters with backbones” as per Steve Levy’s suggestion? Of course.
Do we need more government in our business to help us to go from inefficient to less efficient? God no.
Do we need self-policing and internal audits to secure the elusive fairness for which we claim to struggle? Nope.
We need what has been lost in our society: a sense of fairness, decency, and community. A belief that we need to do what makes us right as opposed to what makes us rich. Even in this age of bad behavior and gushing oil, trips to rehab and corporate looters, it is important to manage this situation and remember that if we fail in the effort to achieve decency, no small gains form any company profit will help us come to any good. To tell anyone that active candidates are of poor quality solely because they are active in the midst of the worst economic times since the great depression is unconscionable.
Tuesday, August 10, 2010
9 Tips For Building, Branding and Maximizing Your Profile And Exposure on LinkedIn
http://socialmediatoday.com/stephanie-frasco/159321/9-tips-building-branding-and-maximizing-your-profile-and-exposure-linkedin
While LinkedIn might be the old dog in the Social Media race, it still remains as one of the most powerful tools in Business Building and Connecting online.
Where Facebook might be getting all of the press, LinkedIn offers something that Facebook cannot – a “Business-Only” platform for building your brand, product, and personal profile.
Just one look at the statistics and it is apparent that LinkedIn must not be ignored, but should be embraced.
• LinkedIn has over 70 million members in over 200 countries.
• A little over half of them are from outside the US
• A new member joins LinkedIn approximately every second
• 85% of them are online everyday
• Over 7 million are Business Decision Makers
• There were more than a billion people-searches through the site last year
• 50% of Fortune 100 companies hire through LinkedIn
4 Types of LinkedIn users
According to a great report by Anderson Analytics there are 4 types of LinkedIn users all with their own personalities and way of using the site.
1. “Savvy Networkers” (est. 9 million) are likely to have started using social networking earlier than others, are more tech savvy, and more likely to be active on other SNS sites like Facebook. Savvy Networkers have the most connections (61 on average) and are more likely than other segments to use LinkedIn for a wide variety of purposes other than job searching. Savvy Networkers have the second highest average personal income ($93,500) and may often have the word “Consultant” in their job description.
2. “Senior Executives” (est. 8.4 million) are somewhat less tech savvy and is using LinkedIn to connect to their existing corporate networks. They have power jobs which they are quite content with, and are likely to have been invited by a colleague and then realized how many key contacts were on the site and started building connections (32 on average). Senior Executives have the highest average personal income ($104,000) and have titles such as Owner, Partner, Executive, or Associate.
3. “Late Adopters” (est. 6.6 million) are likely to have received numerous requests from friends and co-workers before deciding to join. They are somewhat less tech savvy and are careful in how they use LinkedIn, tending to connect only to close friends and colleagues and have the fewest number of connections (23 on average). Late Adopters have the lowest average personal income ($88,000) and have titles such as Teacher, Medical Professional, Lawyer, or the word “Account” or “Assistant” in their job description.
4. “Exploring Options” (est. 6.1 million) may be working, but are open and looking for other job options often on CareerBuilder.com, perhaps in part because they have the lowest average personal income ($87,500). They are fairly tech savvy and use SNS for both corporate and personal interests.
With 70 million people on LinkedIn and tons of people actively using LinkedIn your profile needs to stand out.
9 Tips To Maximizing Your Exposure on LinkedIn:
1. HAVE AN SEO KEYWORD HEAVY PROFILE
There are over a billion people searches a year on LinkedIn. This means that most likely they are searching for keywords, different types of people, positions, and brands. Your profile should be rich in the keywords that relate to you. These keywords should be the ones that people want to find you by. They should range from broad to highly specific and targeted. A good place to put these besides your bio is in the “Specialties” category.
Think in terms of SEO here, content is King. The more keywords you have the better chances you have of being found. This goes for an internet search as well as a LinkedIn search. Beyond getting you more visibility on LinkedIN it will also get more click through traffic from the internet.
2. MAKE YOUR HEADLINE POP!
Your headline is the first thing that people may read so you want it to be catchy. For example, Social Media Guru, doesn’t really do the job because there are millions of people out there claiming to be one. Mini-Social Media Mogul on the other hand might grab the attention of more people. Lure them in with your headline and wow them with your expertise. Remember you only have 120 characters to lure them in…so think about it and make it standout!
Another tip – if you want to open yourself up to new ventures and opportunities is to add your email to your headline. As many people do not have the upgraded feature and thus won’t be able to email you through the LinkedIn service. I have seen many profiles do this, and when it comes to outreach on my side, it made my life much easier!
3. BE A BLOGGER!
Now you might be saying, what does a blog have to do with LinkedIn, and I will get to that in the next tip. But for now read on and see why blogging is so important.
Blogging is the key component to building and branding yourself as an expert. It also adds trust. The more information you give, the more likely someone is to trust you. I think everyone should have a blog or at the very least own their own domain with their name in it. – StephanieFrasco.com – for example. (That’s me).
Now you might be saying, blogging, ugh how am I supposed to find the time for that. While it might be time consuming, it is very important for your overall success and branding of your name. This could be a microblog or even blog clippings from other blogs relating to your industry and the news around it.
If you absolutely don’t have time to blog, buy your domain name and hire SEOARTICLEWRITINGPROS.com, They are an amazing company that produces great quality, keyword heavy work for very low prices. Like I said before, the blog is crucial.
4. OPTIMIZE THAT BLOG
So here is why that blog is important on LinkedIn. Once you have the blog set up, you can connect it to LinkedIn. Just as NetworkedBlogs autopublishes to facebook, LinkedIn has a similar application that allows you to autopublish to your profile. Everytime you publish a new blog it will be published into Linkedin. (To set it up go here.)
5. ADD OTHER APPLICATIONS TO YOUR BLOG
Like all Social Tools these days LinkedIn has added a lot of new applications to enhance your profile. They are there for a reason…USE THEM! Some of my favorites are:
A. Twitter Connection to LinkedIn
If you have looked at your LinkedIn homepage recently you will see the most recent updates from your connection’s twitter account. They have set this up by using the Twitter App. This is important to do because it means your name will be shown more often on news feeds and if the information is relevant new people will follow you and or the organization. This goes the same for Updating your status.
LinkedIn has recently added the Like & Comment feature Facebook uses as well, which will increase your visibility if people like and comment on your statuses. (Of course follow me on twitter.)
B. Creative Porfolio
This is essential for anyone in the creative arena of work. Whether you are a designer, photographer, fashion stylist, makeup artist, costume designer, artist, or anyone who has a portfolio to share. Now this application is a joint venture with the Behance network, which if you are a designer or artist you are most likely already on this network, thus you can pull your work directly from there. If you are not already on the Behance network – sign up now!
This will allow people to browse your work and hopefully hire you! It saves time and lost opportunity as LinkedIn users can browse all the necessary aspects of who you are straight from your profile without getting lost in the sea of information out there.
C. My Travel (powered by TripIt.com)
This is a great application for business travelers and public speakers. Often times we have many contacts abroad and this application allows you show your trips planned. Perhaps if it works out you can meet up with contacts and actually build a relationship face to face!
This is also an application based on an online site called TripIt – if you have an account you can easily add your trips from your account or directly from the application on LinkedIn.
D. Google or Slideshare Presentation
Google and Slideshare presentations are a professional way to introduce yourself and your work. Add a presentation to your LinkedIn profile to showcase a recent talk or presentation, display a visual portfolio of your professional accomplishments, introduce yourself to recruiters and professional contacts viewing your profile.
E. Real Estate Pro
This is essential for Real Estate Agents and Brokers in both the commercial and residential spaces.
Real Estate Pro is the easiest way to stay informed about your local real estate and office space marketplace. Use it to find office space listings for lease and property for sale. Follow and connect with active brokers and professionals, track new property listings and see the latest deals in your market.
Real estate professionals: Use Real Estate Pro to feature property listings and promote client transactions on your Linkedin profile. Easily share your work and completed deals with your business connections, track your market, create a following, promote your expertise and develop new business.
Family Shoutout - If you are looking for commercial real estate in the Greater Los Angeles Area, do contact the one and only Bruce Frasco. He is my dad and a life long real estate professional. Tell him I sent you and he will hook you up! Frasco – style! You can also reach him on LinkedIn.
6. BECOME A GROUP LEADER AND ENCOURAGE CONVERSATION
Make an interesting group that is relevant to your industry and invite your contacts. That is the easy part. Encouraging conversation, now that is the harder part. Talk about relevant news, introduce yourself and your company and keep the conversation flowing. By doing this, you and your profile will pop up all over the place. It will pop up in the group, in the email digest, and throughout the site. So even if you aren’t connected to certain group members personally, you are branding their name by sending out messages and discussions in the group.
6a. Join Other Groups that are related to your industry
SIMPLE ENOUGH! But you will also want to contribute relevant and interesting content. Post news, articles, share your blog, etc. Any conversation starting is a good thing!
7. ANSWER QUESTIONS IN THE Q&A SECTION
Being and expert is everything! Answering questions can help you achieve that status. Search for and answer relevant questions that will brand you as an expert. These will be seen by everyone and can be searched by anyone so this is a very important aspect.
TIP: Set up an RSS Feed for LinkedIN Questions, so that you can be notified of the related questions that interest the business or industry you are branding yourself in. This way you don’t have to waste time.
For more on Questions for Facebook See Here
8. TRANSLATE YOUR PROFILE INTO DIFFERENT LANGUAGES
LinkedIn now has the option to translate your profile into different languages. This will help you get found by those in different countries. It might be a good idea to translate to a language of the country you do a lot of business in to build your presence there. It is simple to use and will expose you to a whole new audience!
9. USE A VANITY URL
If you haven’t done so already, claim your own LinkedIn vanity URL, to solidify your own professional brand. In a world where everything is searchable…You need to own YOUR search.
You can get your vanity url here
Of course don’t forget to connect with me on LinkedIn here!
While LinkedIn might be the old dog in the Social Media race, it still remains as one of the most powerful tools in Business Building and Connecting online.
Where Facebook might be getting all of the press, LinkedIn offers something that Facebook cannot – a “Business-Only” platform for building your brand, product, and personal profile.
Just one look at the statistics and it is apparent that LinkedIn must not be ignored, but should be embraced.
• LinkedIn has over 70 million members in over 200 countries.
• A little over half of them are from outside the US
• A new member joins LinkedIn approximately every second
• 85% of them are online everyday
• Over 7 million are Business Decision Makers
• There were more than a billion people-searches through the site last year
• 50% of Fortune 100 companies hire through LinkedIn
4 Types of LinkedIn users
According to a great report by Anderson Analytics there are 4 types of LinkedIn users all with their own personalities and way of using the site.
1. “Savvy Networkers” (est. 9 million) are likely to have started using social networking earlier than others, are more tech savvy, and more likely to be active on other SNS sites like Facebook. Savvy Networkers have the most connections (61 on average) and are more likely than other segments to use LinkedIn for a wide variety of purposes other than job searching. Savvy Networkers have the second highest average personal income ($93,500) and may often have the word “Consultant” in their job description.
2. “Senior Executives” (est. 8.4 million) are somewhat less tech savvy and is using LinkedIn to connect to their existing corporate networks. They have power jobs which they are quite content with, and are likely to have been invited by a colleague and then realized how many key contacts were on the site and started building connections (32 on average). Senior Executives have the highest average personal income ($104,000) and have titles such as Owner, Partner, Executive, or Associate.
3. “Late Adopters” (est. 6.6 million) are likely to have received numerous requests from friends and co-workers before deciding to join. They are somewhat less tech savvy and are careful in how they use LinkedIn, tending to connect only to close friends and colleagues and have the fewest number of connections (23 on average). Late Adopters have the lowest average personal income ($88,000) and have titles such as Teacher, Medical Professional, Lawyer, or the word “Account” or “Assistant” in their job description.
4. “Exploring Options” (est. 6.1 million) may be working, but are open and looking for other job options often on CareerBuilder.com, perhaps in part because they have the lowest average personal income ($87,500). They are fairly tech savvy and use SNS for both corporate and personal interests.
With 70 million people on LinkedIn and tons of people actively using LinkedIn your profile needs to stand out.
9 Tips To Maximizing Your Exposure on LinkedIn:
1. HAVE AN SEO KEYWORD HEAVY PROFILE
There are over a billion people searches a year on LinkedIn. This means that most likely they are searching for keywords, different types of people, positions, and brands. Your profile should be rich in the keywords that relate to you. These keywords should be the ones that people want to find you by. They should range from broad to highly specific and targeted. A good place to put these besides your bio is in the “Specialties” category.
Think in terms of SEO here, content is King. The more keywords you have the better chances you have of being found. This goes for an internet search as well as a LinkedIn search. Beyond getting you more visibility on LinkedIN it will also get more click through traffic from the internet.
2. MAKE YOUR HEADLINE POP!
Your headline is the first thing that people may read so you want it to be catchy. For example, Social Media Guru, doesn’t really do the job because there are millions of people out there claiming to be one. Mini-Social Media Mogul on the other hand might grab the attention of more people. Lure them in with your headline and wow them with your expertise. Remember you only have 120 characters to lure them in…so think about it and make it standout!
Another tip – if you want to open yourself up to new ventures and opportunities is to add your email to your headline. As many people do not have the upgraded feature and thus won’t be able to email you through the LinkedIn service. I have seen many profiles do this, and when it comes to outreach on my side, it made my life much easier!
3. BE A BLOGGER!
Now you might be saying, what does a blog have to do with LinkedIn, and I will get to that in the next tip. But for now read on and see why blogging is so important.
Blogging is the key component to building and branding yourself as an expert. It also adds trust. The more information you give, the more likely someone is to trust you. I think everyone should have a blog or at the very least own their own domain with their name in it. – StephanieFrasco.com – for example. (That’s me).
Now you might be saying, blogging, ugh how am I supposed to find the time for that. While it might be time consuming, it is very important for your overall success and branding of your name. This could be a microblog or even blog clippings from other blogs relating to your industry and the news around it.
If you absolutely don’t have time to blog, buy your domain name and hire SEOARTICLEWRITINGPROS.com, They are an amazing company that produces great quality, keyword heavy work for very low prices. Like I said before, the blog is crucial.
4. OPTIMIZE THAT BLOG
So here is why that blog is important on LinkedIn. Once you have the blog set up, you can connect it to LinkedIn. Just as NetworkedBlogs autopublishes to facebook, LinkedIn has a similar application that allows you to autopublish to your profile. Everytime you publish a new blog it will be published into Linkedin. (To set it up go here.)
5. ADD OTHER APPLICATIONS TO YOUR BLOG
Like all Social Tools these days LinkedIn has added a lot of new applications to enhance your profile. They are there for a reason…USE THEM! Some of my favorites are:
A. Twitter Connection to LinkedIn
If you have looked at your LinkedIn homepage recently you will see the most recent updates from your connection’s twitter account. They have set this up by using the Twitter App. This is important to do because it means your name will be shown more often on news feeds and if the information is relevant new people will follow you and or the organization. This goes the same for Updating your status.
LinkedIn has recently added the Like & Comment feature Facebook uses as well, which will increase your visibility if people like and comment on your statuses. (Of course follow me on twitter.)
B. Creative Porfolio
This is essential for anyone in the creative arena of work. Whether you are a designer, photographer, fashion stylist, makeup artist, costume designer, artist, or anyone who has a portfolio to share. Now this application is a joint venture with the Behance network, which if you are a designer or artist you are most likely already on this network, thus you can pull your work directly from there. If you are not already on the Behance network – sign up now!
This will allow people to browse your work and hopefully hire you! It saves time and lost opportunity as LinkedIn users can browse all the necessary aspects of who you are straight from your profile without getting lost in the sea of information out there.
C. My Travel (powered by TripIt.com)
This is a great application for business travelers and public speakers. Often times we have many contacts abroad and this application allows you show your trips planned. Perhaps if it works out you can meet up with contacts and actually build a relationship face to face!
This is also an application based on an online site called TripIt – if you have an account you can easily add your trips from your account or directly from the application on LinkedIn.
D. Google or Slideshare Presentation
Google and Slideshare presentations are a professional way to introduce yourself and your work. Add a presentation to your LinkedIn profile to showcase a recent talk or presentation, display a visual portfolio of your professional accomplishments, introduce yourself to recruiters and professional contacts viewing your profile.
E. Real Estate Pro
This is essential for Real Estate Agents and Brokers in both the commercial and residential spaces.
Real Estate Pro is the easiest way to stay informed about your local real estate and office space marketplace. Use it to find office space listings for lease and property for sale. Follow and connect with active brokers and professionals, track new property listings and see the latest deals in your market.
Real estate professionals: Use Real Estate Pro to feature property listings and promote client transactions on your Linkedin profile. Easily share your work and completed deals with your business connections, track your market, create a following, promote your expertise and develop new business.
Family Shoutout - If you are looking for commercial real estate in the Greater Los Angeles Area, do contact the one and only Bruce Frasco. He is my dad and a life long real estate professional. Tell him I sent you and he will hook you up! Frasco – style! You can also reach him on LinkedIn.
6. BECOME A GROUP LEADER AND ENCOURAGE CONVERSATION
Make an interesting group that is relevant to your industry and invite your contacts. That is the easy part. Encouraging conversation, now that is the harder part. Talk about relevant news, introduce yourself and your company and keep the conversation flowing. By doing this, you and your profile will pop up all over the place. It will pop up in the group, in the email digest, and throughout the site. So even if you aren’t connected to certain group members personally, you are branding their name by sending out messages and discussions in the group.
6a. Join Other Groups that are related to your industry
SIMPLE ENOUGH! But you will also want to contribute relevant and interesting content. Post news, articles, share your blog, etc. Any conversation starting is a good thing!
7. ANSWER QUESTIONS IN THE Q&A SECTION
Being and expert is everything! Answering questions can help you achieve that status. Search for and answer relevant questions that will brand you as an expert. These will be seen by everyone and can be searched by anyone so this is a very important aspect.
TIP: Set up an RSS Feed for LinkedIN Questions, so that you can be notified of the related questions that interest the business or industry you are branding yourself in. This way you don’t have to waste time.
For more on Questions for Facebook See Here
8. TRANSLATE YOUR PROFILE INTO DIFFERENT LANGUAGES
LinkedIn now has the option to translate your profile into different languages. This will help you get found by those in different countries. It might be a good idea to translate to a language of the country you do a lot of business in to build your presence there. It is simple to use and will expose you to a whole new audience!
9. USE A VANITY URL
If you haven’t done so already, claim your own LinkedIn vanity URL, to solidify your own professional brand. In a world where everything is searchable…You need to own YOUR search.
You can get your vanity url here
Of course don’t forget to connect with me on LinkedIn here!
Monday, August 9, 2010
Some Good News for Job Seekers
While the abundance of bad news is undeniable, there are also glimmers of hope to be found: http://money.usnews.com/money/careers/articles/2010/08/03/some-good-news-for-job-seekers.html
There aren't many betting on a strong July jobs report, which will be released Friday. Hiring is still so sluggish that Congress again extended unemployment benefits for the long-term unemployed. But while the abundance of bad news is undeniable, there are also glimmers of hope to be found. The Conference Board reports that online postings for job openings jumped by 139,200 in July. The total openings last month were nearly 4.3 million, up from 4.15 million in June and less than 3.3 million a year ago.
[See 21 things hiring managers wish you knew.]
July's rise in online postings followed a much smaller jump in June. "After rising sharply in December and January, online job demand for the nation as a whole has settled into a more modest pattern over the last six months, with increases that have averaged about 43,000 per month," says June Shelp, vice president at the Conference Board. These may not be sufficient job opportunities to erase recessionary losses anytime soon, but they are pointing up rather than down (toward, say, a double dip).
The biggest growth in opportunities last month was in the West. Job vacancies advertised online last month in California rose 34,800, driven by higher demand in computing and mathematical positions as well as office and administrative support jobs. Demand increased in both Colorado and Arizona in July, after two consecutive months of falling demand.
The future isn't entirely doom and gloom either. The Society for Human Resource Management reported that half of human resources managers are somewhat optimistic about job growth in the third quarter, and 7 percent are very optimistic. At this time last year, just 37 percent reported some level of optimism.
[See what America's worst job market looks like.]
More than half of managers replying to the SHRM survey indicated that their companies would likely maintain current staffing levels in the third quarter, while 36 percent of professionals in small organizations reported they're likely to hire. A little less than a third of professionals at large organizations said their companies were likely to hire through September.
An interesting note: The strongest hiring outlook came from the nonprofit sector, where 42 percent of professionals plan to hire in the third quarter. The government had the smallest expectations for growth, with just 22 percent of professionals expecting to add staff.
Labor Department data for May and June showed the private sector struggling to create jobs, adding just 33,000 in May and 83,000 in June. Treasury Secretary Tim Geithner said on "Good Morning America" Monday that private sector jobs were returning at a pace, if not as fast as the Administration would like, "in some ways it's stronger than we expected."
Others have found that job growth in the most recent months hasn't matched their hopes or expectations. "Things were accelerating nicely. We had a pretty healthy job gain in April," says Stephen Stanley, chief economist at Pierpont Securities in Stamford, Conn. "This slowdown we've seen in recent months, to me, has been very disappointing." Stanley expects July's private sector job growth to be about 90,000, or "more of the same," he says. The headline figure—or total jobs lost or gained in private and public sectors—will likely be a negative figure, as temporary census jobs come to an end.
There aren't many betting on a strong July jobs report, which will be released Friday. Hiring is still so sluggish that Congress again extended unemployment benefits for the long-term unemployed. But while the abundance of bad news is undeniable, there are also glimmers of hope to be found. The Conference Board reports that online postings for job openings jumped by 139,200 in July. The total openings last month were nearly 4.3 million, up from 4.15 million in June and less than 3.3 million a year ago.
[See 21 things hiring managers wish you knew.]
July's rise in online postings followed a much smaller jump in June. "After rising sharply in December and January, online job demand for the nation as a whole has settled into a more modest pattern over the last six months, with increases that have averaged about 43,000 per month," says June Shelp, vice president at the Conference Board. These may not be sufficient job opportunities to erase recessionary losses anytime soon, but they are pointing up rather than down (toward, say, a double dip).
The biggest growth in opportunities last month was in the West. Job vacancies advertised online last month in California rose 34,800, driven by higher demand in computing and mathematical positions as well as office and administrative support jobs. Demand increased in both Colorado and Arizona in July, after two consecutive months of falling demand.
The future isn't entirely doom and gloom either. The Society for Human Resource Management reported that half of human resources managers are somewhat optimistic about job growth in the third quarter, and 7 percent are very optimistic. At this time last year, just 37 percent reported some level of optimism.
[See what America's worst job market looks like.]
More than half of managers replying to the SHRM survey indicated that their companies would likely maintain current staffing levels in the third quarter, while 36 percent of professionals in small organizations reported they're likely to hire. A little less than a third of professionals at large organizations said their companies were likely to hire through September.
An interesting note: The strongest hiring outlook came from the nonprofit sector, where 42 percent of professionals plan to hire in the third quarter. The government had the smallest expectations for growth, with just 22 percent of professionals expecting to add staff.
Labor Department data for May and June showed the private sector struggling to create jobs, adding just 33,000 in May and 83,000 in June. Treasury Secretary Tim Geithner said on "Good Morning America" Monday that private sector jobs were returning at a pace, if not as fast as the Administration would like, "in some ways it's stronger than we expected."
Others have found that job growth in the most recent months hasn't matched their hopes or expectations. "Things were accelerating nicely. We had a pretty healthy job gain in April," says Stephen Stanley, chief economist at Pierpont Securities in Stamford, Conn. "This slowdown we've seen in recent months, to me, has been very disappointing." Stanley expects July's private sector job growth to be about 90,000, or "more of the same," he says. The headline figure—or total jobs lost or gained in private and public sectors—will likely be a negative figure, as temporary census jobs come to an end.
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