Benefits March 29, 2006

Online Job Availability for February Shows Positive Business Climate

March 29, 2006 (PLANSPONSOR.com) - During February, all 28 markets tracked by the Monster Local Employment Index saw a moderate to dramatic rise in online job demand.
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According to a news release from Monster, metro areas in the western and southern regions saw the sharpest increase in online job availability in February. California markets, such as Sacramento, San Diego and San Francisco all rose considerably as well due to strong online demand for IT, business and professional services occupations.

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“The surge in the Monster Local Employment Index in February suggests a healthy and confident business climate across all major metro areas in the US,” said Steve Pogorzelski, Group President, International at Monster Worldwide, in the release.

Twenty-seven of 28 local markets rose or held steady for management; business and financial operations; and office and administrative support occupations, indicating strong hiring demand in the corporate sector across major metro areas. All 28 markets saw an increase in the number of online opportunities for sales workers, a category with a large concentration of jobs in retail and wholesale sectors, as well as the corporate sector.

All 28 metro areas also showed increased online job availability for construction and extraction workers last month. For computer and mathematical (IT) workers, online job availability rose in all but one market during the month, with the final market remaining unchanged, while online recruitment efforts for architecture and engineering workers rose in all but two of the local markets in February.

Benefits March 28, 2006

Nest Egg Study Shows Lack of Preparedness for Retirement

March 28, 2006 (PLANSPONSOR.com) - A survey conducted by Harris Interactive for the A.G. Edwards Nest Egg Score found that, among US adults not yet retired but planning to, 58% do not know what size their nest egg will need to be to live comfortably in retirement.
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In addition the survey found, among those nearing retirement (aged 55 or older), 41% do not know how big their nest egg will need to be to support them when they retire, a news release said.

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Perhaps as a result of this lack of knowledge, A.G. Edwards said in the release, 69% of survey respondents who plan to retire are concerned about their ability to live comfortably in retirement. Almost half (49%) of those already retired said the same thing.

When asked to identify the biggest obstacles to starting or building a nest egg, respondents, regardless of whether or not they are retired, identified:

  • the cost of covering day-to-day living expenses (55%),
  • too little income (48%),
  • too much debt (28%),
  • the cost of raising children (24%), and
  • medical expenses (21%).

Reigning in current living expenses and debt ranked higher in priority for respondents than saving for retirement. Only 17% said increasing their pre-tax savings in an employer-sponsored retirement plan was a priority.

Harris Interactive fielded the online survey on behalf of A.G. Edwards between March 14 and March 16, 2006, among a nationwide sample of 2,182 US adults 18 years of age or older, of whom 1,013 are not retired but plan to retire, and 406 are retired.

For a more detailed description of the A.G. Edwards Nest Egg Score and a list of the factors used to calculate it, visit www.nesteggscore.com .

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