Tuesday, November 10, 2009

Unemployment To Hit 10.5% But The Job Outlook Brightens

Just this last Friday, the Labor Department said that the jobless rate in the U.S. had jumped up to 10.2%. That is the highest unemployment rate in 26 years! The highest post world war II rate was 10.8% at the height of the 1982 recession. Also, economists that were recently surveyed stated that the unemployment rate will hit 10.5% by the middle of next year. The Federal Reserve also warned that unemployment will likely stay high for the next couple of years.

That news may trouble some people, but others may choose to believe that the job market is looking brighter. With many reports that the economy is on the way up, it is nice to hear that companies are going to start hiring. The National Association for Business Economics said the number of employers planning to hire workers over the next six months exceeded the number expecting job cuts for the first time since the recession began in December 2007. That is really great news and is something that everyone should focus on instead on the double digit unemployment. We here at The Employment Guide are also doing all that we can to help get the economy back on a roll again.

It is also nice to see that employers may need to soften their stance on sick days with there being such a scare with H1N1. With uncertain times, people do not need the added stress that they could possibly loose their job by being sick.

So Portland, with the recent news of the unemployment rate being double digits and that companies are going to hire. What side of the fence do you lean towards? Please leave you comments in the section below.

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