Consumer confidence beginning to climb.
The Conference Board Consumer Confidence Index™, which had declined sharply in February, was flat in March. The Index now stands at 26.0, up from 25.3 in February.  Despite this, those claiming business conditions are "bad" rose to 51.1 percent from 50.5 percent, while those claiming business conditions are "good" edged down to 6.8 percent from 7.0 percent last month. The slight rise in consumer confidence could be an initial sign that the bottom of the economic downturn is near.

Impact on the workforce

Realistic positivity.
This more positive news ignites hope of the country edging closer to a rebound.  Experts advise American consumers to remain cautious and to take into account what’s happening in the broader economy and in your particular job/employer when auditing your expenditures. Over 91% of the country remains employed, and in order for the economy to start flourishing again, this portion of the population will need to start spending again.

Impact on employers

Consumers continue to drive economy.
Employers should follow the lead of economists and monitor this Index, spending by consumers accounts for over two-thirds of the country’s overall economic activity.  On a larger scale, the Americans’ confidence in the recovery will spur change on every level.

 

Impact of the G20.
The Group of 20 (G20) summit concluded on April 2, with a mutual commitment from the participating countries to provide $1.1 trillion in funding to increase capital for the International Monetary Fund.  The summit which took place in London included leaders from 19 countries and the European Union to collaborate on solutions for recovery from the global recession.  The goal of this funding, announced at the Summit's conclusion, is to preempt a contraction in global trade which is expected to go down for the first time in 30 years.  As news of the announcement, stock markets around the world rose.

Impact on the workforce

Watch Washington interact with the world.
What happens with foreign economies, especially in European markets, will impact the U.S. recovery.  Workers should stay tuned into the coverage of the world’s economic teams as they work to share ideas for solutions.

Impact on employers

Collaboration is key.
The serious impacts of the recession are not lost on any country, as evidenced by the commitment displayed by the leaders at the G20 to solve the economic crisis.  On a macular level, businesses in the States will be affected by international trade so leaders should watch the IMF’s moves and how the funding affects their industry.

 

College graduate job market.
According to a survey by the National Association of Colleges and Employers, companies plan to hire 22% fewer colleges graduates this spring compared to previous years.  Many of the industries which previously scooped up talented college grads are adapting to the recession which often includes limiting entry level hires for the time being. Opportunities still remain for these graduates, however the amount of positions and locations have changed.

 Impact on the workforce

Keep optimistic with an open mind.
It’s important for all job seekers to think outside the box.  Consider positions outside your major or previous field.  Consider temporary or contract work as these positions are great ways to prove your ability while experiencing work in different fields.  Consider internships, oftentimes these are unpaid but the connections you can make and the lessons you can learn are invaluable.

Impact on employers

Look at the value of talent.
Today’s college graduates have some of the brightest and most versatile minds today.  The diverse nature of today’s undergraduate education combined with students’ invaluable capabilities to work in today’s virtual network is an investment your company should consider making.  In addition, many college graduates are open to internship opportunities for the experience – a win for them and your business.