Growth in US Jobs may see unemployment rate fall further from 9.7%.
Saturday, February 27th, 2010
So while 4,100,000 jobs were lost in 2009, the recent drop from 10% to the current unemployment rate of 9.7% indicates the job market may be improving slightly. It also highlights perhaps employers were overzealous in layoffs and may be starting to look back to hire again.
Consider state and local governments have also been cutting (when they should have probably been hiring, no thanks to bloated DB pensions) due to strained budgets which had some further impacts on unemployment.
There has been talk of a double dip recession that may plunge the US into further chaos and increased levels of unemployment, however i cannot report worse unemployment figures at this stage because my analysis indicates the opposite.
On recent analysis observation on a variety of job boards internally and externally across the country i have determined there has been a month over month increase in job postings from January to February. Also from December to now (end of Feb 2010) there has been an approximate 25% increase in postings overall. So while this statistic may not be entirely accurate as it may not relate to every industry it is a correlates to the positive trend path from January 2009 (598,000 lost) when mass layoffs were prevalent.
So out of the 4,100,000 jobs that were cut in 2009 perhaps there may be some pushback on that figure as some of those jobs may be returning. Please note that the increase in job postings I have noted were observed for major corporations, as analysis have not been done on small business. Small business is the key to further growth in jobs so i look forward to the number the DOL survey brings out in the near future.
Many did oppose the current stimulus for a variety of reasons because of the huge cost of the packag. This spending did have an impact to stem job losses for the time being as well as the new approved stimulus in 2010 would likely to as well. Whether this is the best way to stimulate jobs is anyone's guess.
So whether the observations bring down the unemployment rate in the near future is difficult to determine, but what it means though is there may be more jobs available for the time being then some have anticipated.
Article by James Jones
The views expressed are the subjective opinion of the article's author and not of FinancialAdvisory.com
Tags: employment , layoffs , stimulus package , unemployed , unemployment , unemployment rate
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