ManpowerGroup, (NYSE: MAN), the world leader in innovative workforce solutions, is working to design more comprehensive solutions in securing displaced talent for hard-to-fill positions, as the U.S. Bureau of Labor Statistics shows the overall April unemployment rate rose from March to 9 percent and 268,000 private sector jobs were created during the month.
"The edged up unemployment rate from 8.8 percent to 9.0 percent, while important, is not as strong of an indicator at this point in the economic cycle as new jobs created," said Jeffrey A. Joerres, ManpowerGroup Chairman and CEO. "An improving labor market leads to increased individual confidence, and therefore, more new job seekers. This means it's possible that we could see the unemployment rate continue to inch up before heading back down."
ManpowerGroup continues to report on the talent crisis affecting organizations worldwide through its annual Talent Shortage Survey. Look for the 2011 report in the coming weeks. Although unemployment levels are improving in key world regions, companies continue to lack access to individuals with the right skills. As a growing range of issues, particularly fluctuating hiring criteria, slow the process of identifying the right talent, employers remain committed to doing more with less. Flexible workforces remain a top option for employers.
In this Human Age, the talent pools that organizations are able to access will determine their marketplace success. Their efforts to identify the right talent and to develop these workers with career-long training programs are fundamental to winning today's talent wars.
At January's World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced it had identified that the world has entered the Human Age, where access to talent has replaced access to capital as the key competitive differentiator. With skilled individuals in increasingly short supply, businesses, governments and all institutions need to collaboratively work toward developing an adequate talent pipeline to turn today's complexities into their greatest opportunity.
ManpowerGroup™ (NYSE: MAN), the world leader in innovative workforce solutions, creates and delivers high-impact solutions that enable our clients to achieve their business goals and enhance their competitiveness. With over 60 years of experience, our $19 billion company creates unique time to value through a comprehensive suite of innovative solutions that help clients win in the Human Age. These solutions cover an entire range of talent-driven needs from recruitment and assessment, training and development, and career management, to outsourcing and workforce consulting. ManpowerGroup maintains the world's largest and industry-leading network of nearly 3,900 offices in over 80 countries and territories, generating a dynamic mix of an unmatched global footprint with valuable insight and local expertise to meet the needs of its 400,000 clients per year, across all industry sectors, small and medium-sized enterprises, local, multinational and global companies. By connecting our deep understanding of human potential to the ambitions of clients, ManpowerGroup helps the organizations and individuals we serve achieve more than they imagined – because their success leads to our success. And by creating these powerful connections, we create power that drives organizations forward, accelerates personal success and builds more sustainable communities. We help power the world of work. The ManpowerGroup suite of solutions is offered through ManpowerGroup™ Solutions, Manpower®, Experis™ and Right Management®. Learn more about how the ManpowerGroup can help you win in the Human Age at www.manpowergroup.com.
In January 2011, at the World Economic Forum Annual Meeting in Davos, Switzerland, ManpowerGroup announced the world has entered the Human Age, where talent has replaced capital as the key competitive differentiator. Learn more about this new age at www.manpowergroup.com/humanage