U.S. and Local Economy: An Update the Mobile Society for Human Resource Management June 12, 2015 Posted: semoonchang.com
Impact of Economy on Human Resource Management Recession: Keep employees and inventories to minimum Growing economy Increase in hiring Increase in turnovers What if future is uncertain?
Growth Rate of Real GDP (%) Lackluster recovery?
Projection of the U.S. Economy by the Federal Reserve in %
Public Debt How much? $18,000,000,000,000 total ($60,000/person) $450,000,000,000 annual interest $1,500/per person per year Long-term impact? What if no one is willing to lend Higher interest rates Slowing economy & loss of jobs Limit what gov’t can do during emergency (big recession or war)
Employed Persons January 2014 to April 2015
Rate of Unemployment Jan 2014 to April 2015: falling LFPR
Employment: Mobile County by Month
Penny Sales Tax Revenue by Month to Mobile County:
Mobile Co. Sales Tax Revenue by Month
Lodging Tax Revenue to Mobile County: 2005 to 2015
Mobile Co Lodging Tax Revenue by Month
#Homes Sold by Month: Mobile MLS
Average Days on the Market by Month: Mobile MLS
Selling Price: Mobile MLS Jan 2012 to April 2015
Employer Costs (W&S+Benefits) (Source: BLS: National Compensation Survey, quarterly; Latest Release: June 10, 2015; full report at YG-semoon)
Components of Fringe Benefits (Source: BLS: National Compensation Survey, quarterly) Legally required: Social Security, Medicare, federal & state unemployment insurance, and workers' compensation. Insurance: health, life, and short-term and long-term disability. Supplemental pay: overtime, premium pay, shift differentials, and nonproduction bonuses. Paid leave: vacation, holiday, sick, and personal leave.
Quality of Life in Graphs
MS Net Gaming Revenue 2014 by month (CC=$1.08B RC=$0.99B)
MS Net Gaming Revenue 2014 by month (State=$127.8M Local=$82.8M)
MS-GC Net Gaming Revenue by Month since Beginning to 2015
Some Sites kins/internet-trends-v1 (2015 Internet trends) kins/internet-trends-v1 (for recruiting) (employee communications & engagement)
By the way: Generations Baby Boomers: born 1946 to 1964 X: born 1965 and 1977; perceived to be disaffected and directionless. Y: People born in 1978 or later; known as Gen Y because they came after Gen X; called Baby Boom Echo or Millennials (relating to a span of thousand years?).
Millennials I of II % of workforce 6% in % in 2015 Top 3 most valued work benefits Training & development Flexible working hours Cash bonus (next: free health insurance, etc)
Millennials II of II Tech Savvy Prefer to collaborate online Use personal smartphones at work Use downloads for work purposes Work values Not a team player Narcissistic Excessive or erotic interest in oneself Inflated idea of own importance
Global Competition: Internet Business (presentation in order) Top five global public e-commerce companies (gross merchandise value in 2014): Alibaba/Taobao, Amazom.com, eBay, JD.com, and Rakuten Top five smartphone shipment in 1Q 2015: Xiaomi, Apple, Huawei, Samsung, and Levono Top 5 Mobile % of total I traffic: Nigeria, India, South Africa, Indonesia, and Poland
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