Friday, October 8, 2010

September Unemployment Numbers Give Little Insight

The U.S. Dept of Labor released the September unemployment numbers under speculation that America's employment situation has continued to get worse. The speculation proved to be just that, as the numbers show no change staying at 9.6% in September, the same rate as in August. Some economists chose to rely on more relevant data as these numbers show the employment situation for the previous month and today's market is changing on a weekly, if not daily, basis.

A recent survey conducted by Monster.com shows that there's been a 1% increase in Job Board postings as of late, however it still remains a fact that networking is how 80% of the jobs are landed in today's market (ABC News). Adding to this news is that about 80% of employers surveyed by Manpower last month reported that they would not be increasing their hiring in fourth quarter.

"It's the toughest employment market in most our lifetimes, and hopefully it won't get any worse." said Richard Wahlquist, CEO of American Staffing Association. "But it's not likely to get any better in the coming months."

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