Labor Market
One of the more prominent victims of the slumping real estate market is Countrywide Financial Inc., the largest provider of home financing in the nation, which has laid off about 11,000 employees nationwide since mid-2007. As of press time on this publication, the troubled Calabasas-based mortgage lender, which lost $422 million in the fourth quarter of 2007, was set to be acquired by Bank of America. And, Amgen, another major Ventura County employer and the largest independent biotechnology firm in the world, laid off 12 to 14 percent of its worldwide workforce in 2007. Together, these two companies account for about 4 percent of total wage and salary employment in Ventura County, according to the California Economic Forecast. Moreover, they have accounted for 14 percent of total job creation in the county since 1997.
Although job growth has continued, it has slowed considerably
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| throughout the county since mid-2006, which coincides with the initial stages of the real estate downturn. Non-farm job growth stood at 1.3 percent for 2007, representing nearly 4,000 additional jobs countywide. As expected, job growth fell in real estate, construction and related industries.
Average salaries rose 2.2 percent from 2005 to 2006. The highest-paying sector remains finance and insurance, with an average salary of almost $85,000. Salaries declined in the manufacturing sector, which employs some 12 percent of the local workforce. And, the most significant increases in salary occurred in the information technology and state government sectors. Scanning some of the county’s top employers reveals the diversity of industry and employment. The military’s presence is a strong one, with the consolidated Naval Base Ventura County leading the pack. Government jobs follow, specifically the thousands of people who work for the County of Ventura and State of California. Then there’s biotech research giant Amgen, which has a considerable presence in Ventura County. School districts, city governments and hospitals also are major employers. See the accompanying charts for a more detailed look at where the jobs are in Ventura County. Finding a Job Informal methods of job searching are the most popular and, in the long run, most effective. You can find targets for your search by looking in the Yellow Pages and chamber of commerce membership directories. Or visit the career centers in public libraries for assistance. After you have the appropriate names and addresses of employers, make direct application to as many as you can, often without certain knowledge that a vacancy exists. Network with friends, relatives and anyone you meet for potential job leads and information. Consult the “classified want ads” in your local newspaper regularly. Answer ads promptly. When you are called for an interview, research the company. Even some knowledge of a prospective employer’s products or policies will impress the person who interviews you. Don’t forget to “dress for success” when you visit a company. First impressions count, so dress conservatively. Job Services Offices
Career Training / Planning Centers Your future begins right now. Check with your city administration, colleges and local telephone directories for listings in your area. Employment Agencies You may have to pay for the services, depending on the type of job you are seeking and whether you decide you want help. Read a company’s contract to understand what you are obligated for, such as paying fees even if you leave the job. You can find several such employment agencies in the area, some of which also offer temporary placements. Temp services often are helpful in finding full-time work. Fortunately, temp agencies charge the employer. When you sign up with a temp agency, you become its employee unless the company decides to hire you. Local temp agencies specialize in different areas: sales, industrial, technical, general clerical, legal, medical, executive and professional. Internet Services America’s Job Bank (www.ajb.dni.us) provides a job resource library that will guide you through your job search. Topics covered are grouped into three main categories: Preparing to Search, Locating a Job, and Other Job Search Resources.
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