In today's times of recession, most people are underpaid, while there are thousands of others who are not even employed
Pasadena, CA (PRWEB) January 1, 2009
The year 2008 has been one of the worst holiday seasons in decades, owing to less consumer spending and decline in sales by huge numbers. EmploymentScape, an umbrella company of numerous job boards and career services affiliates, seeks to improve the present and future needs of all professionals in general, and unemployed professionals in particular.
"In today's times of recession, most people are underpaid, while there are thousands of others who are not even employed," says A. Harrison Barnes, the CEO of EmploymentScape. Barnes notes, however, that EmploymentScape and its many affiliates, which include a variety of recruiting firms and job boards, can assist these all professionals with finding new jobs and a better career.
US retailers' sales fell as much as 4% during the holiday season, as the weak economy and bad weather created one of the worst holiday shopping climates in modern times, according to a data by SpendingPulse. Consumers spent at least 20% less on women's clothing, electronics, and jewelry during November and December, resulting in what may be the biggest holiday-shopping sales decline in four decades. Discounts of 70% off or more by Macy's Inc., Ann Taylor Stores Inc., and other retailers failed to prevent the spending drop.
Barnes adds, "Consumers are more cash- and credit-constrained than ever before. After relative good spending in recent years, they've shifted from spending to savings. Unemployment is a key factor in the marked decline consumer spending. The unemployment rate is all out on a 15-year high, and it is expected to be more gruesome in the next year."
So far this year, various companies have announced layoffs that affect more than 1 million jobs, according to Challenger, Gray & Christmas, a job placement firm. Bank of America, the Dow Chemical Co., Anheuser-Busch InBev, General Motors, and Circuit City are among the growing number of companies have laid off professionals to save their bottom lines.
The industries with some of the steepest job losses include construction, financial services, retail, and manufacturing. Michigan, home of the Big Three automakers, for example, leads the nation in unemployment with a rate of 9.6%, according to the Bureau of Labor Statistics. Experts predict that bloodletting in financial services is far from over. Many banks still have bad home mortgage and commercial real estate-related debt on their books that has yet to be written off.
"Recessions are highly unpredictable. Some of the people who are underpaid do not actually know that they are underpaid. Meanwhile, most of them continue to work for meager pay because they fear that amidst the economic downturn, they would not be able to get a better job and a better pay package in a new workplace. This fear forces them to stay in a bad situation. Some don't even know how to commence a new job search," says Barnes.
"Many people think that there aren't enough jobs which they can apply for. The truth, surprisingly, is that there are lots of jobs out there -- one just needs to know where to look for them, and how. Most professionals, though, have limited knowledge of niche job boards and targeted mailing services."
Employment Authority, an affiliate of EmploymentScape, assists numerous professionals in distributing resumes and cover letters to employers chosen from the millions of contacts in the Employment Authority database. Whether one is a seasoned professional or just starting out, Employment Authority can help them apply directly to almost any employer anywhere, including Fortune 1,000 corporations, mid-level firms, and even startups.
Additionally, EmploymentScape's other affiliate, EmploymentCrossing, can supply job seekers with greater job opportunities, even in the face of downturn. Scoured by hundreds of researchers from 8,000 job boards and 250,000 employer websites, there are an incredible 2 million active job listings in EmploymentCrossing's database, including jobs related to every industry and occupation.
Visit http://www.employmentscape.com to know more about the company, including its other career-related affiliates.
Founded in 2000, EmploymentScape (formerly Juriscape) has quickly grown into one of the world's most specialized and effective groups of companies catering to the careers of professionals and students. Since its noteworthy beginning, EmploymentScape has aggressively built on its solid reputation. The company is now a dominant presence in the field of employment services with a vast array of affiliates including industry-specific job boards, resume services, private loans, career publications, and mass-mailing services, among others. Eight years after its founding, EmploymentScape now oversees more than 15 independent companies that aim to improve the career journeys of professionals in all industries.