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From the Bureau
Productivity and Costs, Fourth Quarter and Annual Averages 2004 were revised this month.
The Bureau of Labor Statistics of the U.S. Department of Labor
reported revised fourth-quarter seasonally - adjusted annual rates of
productivity change - as measured by output per hour of all persons - and
revised annual changes for the full year 2004. Percent changes in business
and nonfarm business productivity were:
4th Quarter:
Business sector 3.7 and
Nonfarm business sector 2.1
Annual averages 2003-2004 4.0 for both.
New Combinations
CareerJournal.com, The Wall Street Journal's executive career site, announced that it will
offer its job and resume databases on
MarketWatch, a provider of business news, financial
information and analytical tools.
Trends
The Regular Army missed its recruiting goal for February, for the first time since May 2000.
The Regular Army wanted to enlist 7,050 people in February but managed to attract only 5,114.
"Meeting the Challenge of Demographic Change: Aging Population"
U.S. Labor Secretary Elaine L. Chao addressed the challenges of aging workforces in developed
countries at the G8 Conference at which labor ministers from around the world attended.
Secretary Chao called for solutions that would allow older workers greater flexibility in
determining their work lives and increase the pool of available older workers to meet projected
growing demand for workers. Read the complete address at
http://www.dol.gov/_sec/media/speeches/20050311_london.htm.
Deloitte Research recently published this study
which defines and addresses the critical talent crisis emerging worldwide across all industries:
It's 2008: Do You Know Where Your Talent Is? Why Acquisition and Retention Strategies Don't Work.
"Within the next five to ten years, an alarming number of Baby Boomers are set to retire from both the
private and public sectors. At the same time, it is anticipated that there will be fewer graduates
with the right critical skill sets entering the marketplace. These converging events will result in
an unprecedented talent shortage and skills gap."
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