Posts Tagged ‘EUC’

“So…. Where Are the Jobs?”

The economy has turned, and though recovery is slow, things are improving!

The recession is over!

And Nero fiddled while Rome burned.

For four straight months the economy had added jobs and expectations were high among analysts for the May report. They expected over half-a-million new jobs on Friday, and the whisper number was even higher. The number was good; 431,000 new jobs in May.

But it wasn’t exactly what the market wanted and there was a caveat. This month’s number included 411,000 Census workers hired temporarily by the government to complete the 2010 Census. These, of course, are only temporary and will be gone by the end of summer.

But, the U.S. isn’t Rome and the Obama Administration is doing all it can to put people back to work.

So…. Where are the jobs?

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“A Jobless Recovery?” Not This Time!

September’s jobs number was a big disappointment for those that are hoping for positive job creation by the end of this year. The job losses for September slipped back with 263,000 non-farm payroll jobs lost after a better than expected smaller decline in August.

The August number was revised with 15,000 fewer job losses to 201,000, from previously reported 216,000. But July was revised upward adding 28,000 more lost jobs bringing the total to 301,000. for a total of 13,000 more job losses for those two months.

Much has been said about the economy already recovering and the possibility that this, like the last recession, will be a jobless recovery.

Not this time!

Past recessions were not confronted with the problems that exist in this one. The confluence of personal and corporate losses exceed those of the past three recessions combined. Though the downward economic spiral has been slowed, the underlying causes of the financial collapse still exist and are troublesome for any healthy recovery.

Unemployment increased to 9.8% and, as many have stated, is headed for double digits. The highest level of those unemployed during the most recent recessions was approximately 6%.

In previous recessions the job losses were mostly centered around a few industries. But during this recession there has been a widespread decline in all areas of employment: labor, manufacturing, and service. As a result there are few, if any, sectors to help pull us out of this economic quagmire.

What will spur a jobless recovery? Read the rest of this entry »

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Posted in Economy, Jobs, Predictions, Uncategorized | 2 Comments »