U.S. and Local Economy: An Update

the Mobile Society for Human Resource

ManagementJune 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 PersonsJanuary 2014 to April 2015

Rate of UnemploymentJan 2014 to April 2015: falling LFPR

Employment: Mobile Countyby Month

Penny Sales Tax Revenue by Monthto Mobile County: 2005-2015

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 Revenue2014 by month (CC=$1.08B RC=$0.99B)

MS Net Gaming Revenue2014 by month (State=$127.8M Local=$82.8M)

MS-GC Net Gaming Revenue by Month since Beginning to 2015

Some Sites http://

www.slideshare.net/kleinerperkins/internet-trends-v1 (2015 Internet trends)

https://angel.co/greenhouse (for recruiting)

http://www.guidespark.com/ (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 2000 35% 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

Valuable Source of Local Data: ALL FREE Semoonchang.com – Just Click!

Key data for Mobile (& Baldwin) Counties Contact information to semoon

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