Jobs Report Exceeded Expectations -Hospitality #1!

For the second month in a row, the released a jobs report that exceeded expectations. The new July report, showed a total of 75,000 more jobs than economists were expecting (255,000 vs. 180,000 expected).

It further showed that the Hospitality Industry was the leading industry for hiring.

Here are three things to know from today’s report:

1. What do today’s numbers mean looking at the big economic picture? Here are some reactions from leading news outlets:

According to The Wall Street Journal:

The U.S. labor market in July capped off the best two-month stretch of hiring so far this year, a sign of strength for an economy that has been showing mixed growth signals in recent months.
According to CNBC:

“This was another strong report that checked most, if not all of the significant boxes,” said Curt Long, chief economist at the National Association of Federal Credit Unions. “The labor market should remain strong as long as consumers maintain their robust spending pace.”
2. The labor force participation has increased. But what does that mean?

According to Business Insider:

The labor-force participation rate rose to 62.8%. It was being closely watched again to gauge whether a record number of job openings drew people into the labor force. The rate has steadily declined in recent years, partly because of baby-boomer retirements. But at the same time, there are fewer people outside the labor market finding jobs — suggesting that the economy is near or at full employment.
3. What about wages and the Fed? Wages haven’t really been the bright spot in previous reports, but there has recently been slight progress on that front.

According to Marketwatch:

The much stronger than expected increase in new jobs also raises the odds that the Federal Reserve might raise interest rates as early as September. The central bank held off after job creation appeared to slow in May.
According to The New York Times:

June’s gains were revised upward by 5,000 jobs, and May by 13,000. The combination of better gains in the spring and July’s jump in hiring suggest that the Federal Reserve may take a fresh look at raising interest rates when it meets in September.

When is the Right Time to Quit your Job?

Be honesimages[8]t with yourself: How many times during your career have you daydreamed about calling a companywide meeting, standing up in front of your colleagues, and recreating this iconic scene?

Jumping ship from your current job may seem like a tantalizing prospect, especially if you’re one of the millions of employees feeling burned out, disrespected, or stagnant at your place of employment.

Research indicates an overwhelming discontentedness among workers–a recent poll found just 13 percent of employees are engaged at their job. But happiness can also be cyclical, rising and falling in response to a recent promotion, a popular co-worker’s getting fired, a company party, a change to the office vacation policy, etc. It’s important to draw a distinction between these spikes in activity (positive or negative) and long-term malaises that cramp your working style over time.

If you’re spending at least 40 hours a week anywhere, it’s imperative that you be as content as possible during that time. And yet, for economic fears, family responsibilities, or a notion of loyalty to a company, Americans are settling for jobsthey either resent or are mismatched for completely.

There is nothing wrong, in principle, with believing the grass is greener on the other side. If you’ve found yourself in the wrong job time and time again, though, take a step back and realize that the one common thread to all those opportunities is y-o-u. Before you put in your next two weeks’ notice, give yourself the temporary job of figuring out what truly makes you the happiest.

Ask yourself: Am I being proactive in regards to my happiness?

How well employees feel that they fit in culturally at a company is a huge indicator of work satisfaction. Workers who rate their companies as having subpar culture are 15 percent more likely to be looking for a way out.

No matter how many benefits, random kudos, or break room Ping-Pong tables your job showers upon you, there’s no guarantee you’ll be all smiles when you show up for work in the morning. A good employer should give you every opportunity to be happy by listening to your concerns and fostering a positive culture, but your attitude is what will take your well-being across the finish line.

Also ask yourself this question: How often am I helping out my co-workers? Having a social support network at the office is crucial for happiness, but you’ll actually be your most positive and engaged if you go out of your way to give assistance to others. That doesn’t mean offering to do someone else’s job all the time, either. Simply extending an invitation to lunch or saying hi can give you a more positive outlook, make you 10 times more engaged, and, here’s the kicker, 40 percent more likely to get a promotion. Still thinking of leaving, even with a bump?

You may not like your job, but do you like your industry?

Sometimes, you find yourself mismatched in terms of your job’s specifications. So long as you’re passionate about health care, marketing, children’s toys, or whatever your field is, you can move around within it until you find the right duty to fulfill. If you view your job as mundane and don’t care if you advance to a higher level, then you’re probably in the wrong industry entirely.

Are you willing to lean into your impulse and make a drastic move toward your true passion? Do you even know what your true passion is? Moving up the ladder within the industry for which you went to business school might not make you happy if you haven’t been to this point.

Don’t forget the obvious: Check your bank account.

The quickest way to stop yourself from doing something potentially foolish is to look at the bottom line in your savings account. It’s almost never advisable to quit one job without having another one lined up, but if you’re at your breaking point, make sure you can survive for six months without a steady paycheck.

Chances are, you’re at least aware of what you’re drawn to in life, even if it scares you to think about it. Find out all you can about turning your passion into a career by talking to people who have done it before. Just don’t quit your current job before you soul search.

Workplace happiness is an issue that goes largely unspoken and is costing companies roughly half a trillion dollars a year. Working for the sake of work benefits no one, and there are certainly situations that warrant a change. Just make sure you’ve exhausted all avenues at your current position and determined whether you’re in the industry that you’re passionate about.

BY JEFF PRUITT    Chairman and CEO, Tallwave

 

Job Interviewing – It can be difficult to NOT take rejection personally.

It can be difficult to NOT take rejection personally. When you first embark on your job search journey, you are frejection1illed with anticipation, enthusiasm and high expectations. If your job search efforts continue over a long period of time, you have may have already experienced rejection, objections and frustration. Many job seekers feel that their resume just gets lost in some deep dark hole never to be read or noticed. This is especially true, when you spend most of your time answering job boards or jobs that are posted on various websites. This is where you will encounter the highest level of competition and the lowest level of results.

You can limit rejection by implement the following:

  1. Only apply for jobs where your credentials match the requirements of the position
  2. Customize your cover letter and resume to highlight the appropriate key words for each position
  3. Spend most of your job search time developing and contacting your professional network
  4. Directly market yourself to hiring authorities DAILY! (To the person who would be your bosses boss)

Over 50% of job seekers find their next opportunity by networking and directly marketing themselves to hiring authorities. If you want more information on how to market yourself, log into our Career Portal and review the three phases of your Job Search i.e. Prepare, Search & Connect and Interview. There are many tips that can put new life into your job search.

It is important to realize that when you do not hear back from a company or hiring authority, chances are they are not rejecting YOU personally. In fact your resume could have been screened out by an automated system. A Job Search is a sales process and each NO you hear is that much closer to a YES. Commit to a high level of actions each day, put most of your time into networking and direct marketing and you will begin to move your search forward while reducing the level of rejection.

We Help People Find Jobs!

“With timage1he help of Rick Macdonald with Patrice and Associates I am about to embark on a new and exciting career in the restaurant/hospitality industry.

The entire recruitment process has been fantastic in so many ways. It started with great communication, commitment, and determination from Rick and it continues to prove beneficial as I have referred numerous colleagues to Rick for his expertise. If you are looking for a recruiter that will put in the necessary effort that breeds a successful outcome for your future, look to Rick Macdonald and Patrice and Associates!”