CareerBuilder posts $160M in Q2 revenues
Despite a still-struggling job market, CareerBuilder posted increases in North American (U.S. and Canada) revenues for Q2.
Total revenues were $160 million, up 15 percent from Q2 of 2010 and up 7 percent from Q1 of this year. The total includes revenues from CareerBuilder’s newspaper partners.
CareerBuilder’s direct sales force accounted for $137 million of the Q2 total, which was up 18 percent from the same quarter of 2010 and up 8 percent from Q1 of this year.
The privately held company doesn’t report international revenues. But a spokesperson said it “grew significantly year-over-year in Q2,” and added:
“Our growth reflects both a stronger employment market (job listings are up across categories) and our expansion of human capital solutions that go beyond our job board. We see increasing demand for our Supply & Demand portal, Talent Network offering, Work@ application and others. ”
Zillow soars on IPO
Zillow Inc. (NASDAQ: Z) enjoyed a strong debut on Wall Street in a public offering that opened at $57 a share, topped $60 and closed at $38.80. Not bad for a target price of $20 a share.
The IPO set the company’s market cap at about $1.6 billion.
All in all, a happy day for team Zillow, which “never made a profit,” according to the company blog.
Zillow hopes to raise at least $69M in IPO
Zillow is hoping to raise at least $69 million in an IPO set for Wednesday.
The real estate site is offering nearly 3.5 million shares of common stock at $20 per share. It will trade on NASDAQ under the symbol “Z” — easy enough to remember.
Of course, it could trade higher at the opening bell. Investors have been a bit skittish generally but have been attracted to recent public offerings of successful dot-coms. Regardless the price at the closing bell, Zillow has agreed to sell 274,999 shares of Class A common stock at $20 per share to “certain existing investors,” the company said in a news release. (That’s about $5.5 million.)
You’ll find more about it here.
Spanish PRISA amends Liberty deal and negotiates Media Capital sale with former owner
Online jobs hint at cautious labor rebound in U.S.
The Conference Board reported that U.S. online job demand was essentially unchanged in March. Florida and Illinois posted gains while New York posted a loss. Demand for healthcare workers and technical workers rose, while office and admin-support jobs continued to decline.
Online advertised vacancies slipped slightly — about 29,600 jobs to 3.9 million, which wasn’t enough to move the needle, but combined with February’s losses, there are about 97,000 fewer job listings then there were in January.
Nonetheless, the outlook for future months is positive: “The upturn in labor demand over the last five months (+ 647,000) is a clear signal that the labor market is beginning to recover from the recession,” said June Shelp, vice president at The Conference Board. “However, the recent February and March data suggests that employers may still be somewhat cautious about significantly expanding their workforce as we are preparing to enter the Spring hiring season.”
That sentiment was echoed by the CareerCast.com/JobSerf Employment Index for March. The index rose to 90.4, climbing 7.1 points since February. March 2010 hiring levels were more than double what they were a year ago (90.4 vs. 44.1).
“It appears that a real rebound in hiring has started, but with the unemployment rate still at 9.7 percent, the battle for most of the unemployed is far from over,” says Jay Martin, COO, JobSerf.
“Hiring of management-level executives usually reflects a longer-term view and means businesses are thinking more positively about the future,” says Tony Lee, publisher, CareerCast.com. “Now that managerial recruitment activity overall is on the rise, the rest of the job market should follow.”
In the CareerCast/JobSerf Index, all U.S. cities showed improvement in managerial hiring this month. Leading the rebound in per capita hiring gains were Minneapolis (+21%), Milwaukee (+20%), Detroit (17%) and Hartford (+17%). Cleveland (+2%) and Louisville (+3%) had very minor improvements in hiring.
U.S. job demand close to flat in November
Two indices that track online job listings reported a slight increase in U.S. online job postings in November, while another reported a slight dip from October.
Online job demand rose by 106,500 to almost 3.4 million advertised vancancies in November, The Conference Board reported. Similarly, the CareerCast.com/JobSerf Employment Index showed a rise in the index (5.9 points) over last month to 73.7, which was only 3.4 points below November 2008′s index. However, Monster’s Employment Index edged down one point in November. On a year-over basis, the MEI is down 17 percent.
Two things all three seem to agree on: The worst looks to be over, although recovery will be painfully slow.
The Conference Board reported that online labor demand has been “sluggish” but also “modestly positive” since the low point in April. “We have yet to see a significant increase in employers’ demand for labor, and, until we see job openings pick up, it will be hard to bring down the unemployment rate,” said Gad Levanon, senior economist for The Conference Board. “The gap between the number of unemployed and the number of advertised vacancies is about 12.3 million, with 4.8 unemployed for every online advertised vacancy.”
In October, the U.S. jobless rate topped 10 percent, as was predicted.
“With weak hiring persisting through the fall, which is traditionally a strong season for job growth, we could see the national unemployment rate rise above 11% in early 2010,” warned Rich Guha, CEO of JobSerf. “Unfortunately, C-Level positions dropped for the third month in a row, although manager, director and VP- level job volumes all saw modest gains.”
“The trend in online job availability has been largely flat for most of the year and remained so in November,” said Jesse Harriott, SVP and chief knowledge officer at Monster Worldwide. “While job losses have continued to ease, businesses remain cautious about adding to their payrolls in light of sustained economic uncertainty.”
The Conference Board’s research agreed that labor demand was flat in the larger Western and Midwestern states. But the more populous states in other regions reported modest gains.
It added that healthcare occupations continued to be in demand, as they have throughout the current recession. It also noted a rise in demand for computer and mathematical-science professionals, as well as sales, business and finance occupations.There was decreased demand for office and administrative support occupations.
The CareerCast.com/JobSerf Employment Index also showed that some parts of the U.S. fared better than others. The greatest hiring activity for the month was in Washington D.C., according to researchers.
In contrast, the Monster Employment Index found that healthcare professions declined to its lowest recorded levels in November, while the utilities industry registered the highest rate of increase in online job demand. Combined, healthcare practitioners and technical occupations saw the largest reduction in opportunities, dropping 23 points for the month.
On the plus side, the MEI reported that 12 of the Top 28 U.S. metro markets registered increases in online job demand in November. Indianapolis, Pittsburgh and Detroit registered the largest gains — good news there for areas hit particularly hard by the recession.
