1sunfight’s Weblog

May 9, 2010

April Jobs Report: Best Gain in Jobs in Four Years

Filed under: Economics,Financial Crisis,politics,Uncategorized — Julie P @ 2:18 pm
Tags: , ,

It appears that the recovery is starting to really take hold.  In April, employers added 290,000 employees to their payrolls and since the start of the year there have been a total of 573,000 jobs added to the economy.

“It clearly shows that this economic recovery can no longer be a jobless one,” said Bart van Ark, chief economist of The Conference Board, a leading research firm.  “Companies apparently are finding they can’t squeeze out any more output without adding workers.”

The report also includes a separate survey of households that it uses to estimate the unemployment rate, which increased to 9.9%.

The rise in the unemployment rate is actually a sign of improving perception of labor market conditions.  The increase was due to an uptick in job seekers who had previously been discourage and dropped out of the job market.  There was a jump of 805,000 workers returning to the labor force in April alone.

Surely this is all good news.  It appears that the job market recovery is in its acceleration phase and if my phone ringing for job interviews over the last two weeks is an indicator, I am going to have agree.  But I am going to have to point out that we still have a long way to go to a full recovery.  In two years the US economy has shed 8.4 million jobs, not as bad as the number lost under Ronald Reagan, but it is still a significant number of people.  It is going to take years to put everyone back to work and get the unemployment rate to full employment.  It took Ronald Reagan six years to accomplish that, and if you want to be picky, the nation really was not at full recovery until Bush, Sr. was in office.  I have this to say about President Obama, he will get re-elected in 2012 if he gets the unemployment rate down by putting the nation back to work.  But, trends like this are going to have to continue for the rest of this year and over the next two years.  A lot of people need jobs.

On a personal level I think the job market is picking up, my phone has been ringing for interviews and I am getting requests for them via my e-mail as well.  The problem that I am encountering is that the competition to get a job is fierce.  On two occasions I turned up at job interviews where there were a dozen people vying for a job.  On one other occasion there were eight people there interviewing for one position.  Finally, I went to a job interview that was an open house, by invitation only style, where forty people were there.  One of the people flew in, courtesy of his son who works for Delta, from Seattle to interview with that business.  People need jobs right now and they are willing to go to any length to get one.  This upcoming week I do have a job interview scheduled for Tuesday with two strong follow ups.  Personally I think I will be able to find a job as the job market continues its climb out of the abyss, but I am still very, very worried regardless.  I am up against a lot of people and my unemployment benefits will run out at the end of June without another extension.  I think Congress will give extensions again this year only because the unemployment rate is so very high.  For myself if that does happen I will get the final tier of federal unemployment benefits of an additional six weeks, then I will have to apply for the final 20 weeks with the state.  That will take me through the remainder of the year and with a job market finally adding jobs I think I will be able to find a job, but I think it may take the rest of the year to do it.  I am more optimistic about the job market, but I am not optimistic enough to think I will find something by the end of June.

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