Employment and Industry Outlook
Employment Outlook, 2000-2010, published by the Department of Labor's Bureau of Labor Statistics (BLS) states that the twenty-first century workplace is a completely different environment; the future will bring even more significant changes. The BLS report examined the job scene in the United States in the forthcoming decade with a goal of projecting the developments in two key areas: percentage growth and numerical growth. According to BLS, total employment is projected to increase by 22 million (to 167.8 million) jobs or 15.2 percent - slightly less than the 17 percent growth during the 1990s.
The report also suggested an increase in the number of new jobs, which are expected to rise in occupations requiring only work-related training (on-the-job training or work experience), even though these occupations are projected to grow slowly. This reflects the fact that these occupations accounted for about 7 out of 10 jobs in 2000.
Unlike job openings depending on the amount of growth in an occupation, others result from the need to replace workers who enter other occupations, retire, or leave the labor force permanently for other reasons. In many instances, the number of job openings resulting from replacement is greater than that of openings resulting from employment growth. Even occupations projected to decline provide some job openings.
BLS also released recently a new report on Producer Price Indexes for October 2008. The report states that the Producer Price Index for finished goods fell 2.8 percent in October, seasonally adjusted. This decrease followed a 0.4 percent decline in September and a 0.9-percent fall in August. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 3.9 percent in October after declining 1.2 percent in September, and the crude goods index dropped 18.6 percent subsequent to a 7.9-percent decrease in the previous month.
Among finished goods in October, prices for energy goods fell 12.8 percent compared with a 2.9-percent decline a month earlier. The index for consumer foods edged down 0.2 percent following a 0.2-percent increase in the prior month. Prices for goods other than foods and energy rose 0.4 percent for the second consecutive month. Price increases for light motor trucks, civilian aircrafts, malt beverages, rubber and rubber products, consumer plastic products, commercial non-wood furniture, and store fixtures were partially offset by price decreases for passenger cars, pharmaceutical preparations, and for electronic computers and computer equipment.
Prices for materials for durable manufacturing declined 4.1 percent in October after falling 3.2 percent in the preceding month. The index for hot rolled steel bars, plates, and structural shapes dropped 8.5 percent following a 4.4-percent decrease in September. Prices for nonferrous wire and cable, both hot and cold rolled steel sheet and strip, softwood lumber, and primary nonferrous metals also fell more in October than a month earlier. The index for synthetic fibers turned down after increasing in the previous month. By contrast, the rate of decline in prices for semi-finished steel mill products slowed from 4.8 percent in September to 1.9 percent in October. The index for copper and brass mill shapes also fell less than it had in the prior month (www.bls.gov).
MAiSPACE, with a revenue range of $10M - $25M in sales, sees moderate growth. Mark Bassil, the vice president and co founder of MAiSPACE says he expects to see expansion, playing down the effect of the financial crisis on his company. In early 2008, the company, the leader in the contract furniture industry, opened a new showroom and distribution facility in Garden Grove, California (Orange County), with a total of 37,000 square feet of operating space. Having established a proven business model on the east coast, MAiSPACE used the New Jersey site as a "blueprint" for the California facility. The new facility needed to function as both a regional distribution center and show- room with functional workspaces.
Mark Bassil, in a recent interview, said that company targets for growth are expected to be met in the longer term, as he acknowledged the "challenging" times awaiting businesses in the short term.
