Friday, November 5, 2010
October jobs report: Hiring picks up
The United States still is struggling to get back on its feet as unemployment is still high. However, there might be a turn around for those who have been recently laid off as the CNN article mentions how the labor market had just added jobs this past month (October, 2010). This is great news for many as, "The economy added 151,000 jobs in October, the Labor Department reported Friday, an improvement over September, when the economy lost 41,000 jobs. That was much better than the 68,000 gain that economistssurveyed by CNNMoney.com were expecting, and the best overall number since May." Some people are not getting their hopes up as this gain of jobs seems rather insignificant when the unemployment when the national unemployment rate remained at 9.6%. there are still 1.2 million workers who have been unemployed and have been discouraged from finding a job. So even in this small light showing at the end of the tunnel, can some of the people who have been unemployed over six or more months survive until then, and when is then exactly?
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2 comments:
It's almost impossible to say when the situation will brighten up for the unemployed. The unemployed actually face tougher challenges these days not only because of the lack of job but also because of their candidacy (the longer a person is unemployed, the less attractive he/she seems to future employers). So, we can only hope that with what the government and the Fed have been doing to improve the economy, things will get better. I personally think it will not be until the middle of next year when the job market really shows some positive signs.
It is hard to get a job in today's economy. Things will improve, but it will just take some time. Khoa is right though, the more time people are out of a job and collecting unemployment, the more they become less attractive the employers. The unemployed just have to be very persistent and can't get discouraged.
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