BY: Adam Gavriel
Perhaps there is hope on the horizon.
According to an article released this morning from Bloomberg.com, the number of Americans filing for jobless claims dropped to a 5-year low this past week. This may signal a bit of optimism from employers, who are becoming more willing to hold on to their workers.
“Applications for unemployment insurance payments decreased by 4,000 to 323,000 in the week ended May 4, the least since January 2008, Labor Department figures showed today. Economists forecast 335,000 claims, according to the median estimate in a Bloomberg survey. For the first time, the average over the past month was the lowest since before the last recession began.”
Dismissals and firings have dropped off in recent days, as employers are confident in their current workers to handle the load. Unfortunately, hiring is not following suit as the American unemployment rate remains high at 7.5%
“There is only so much companies can cut layoffs before they have to start thinking about adding to headcounts,” said Guy Berger, an economist at RBS Securities Inc. in Stamford,Connecticut, who projected claims would drop to 325,000, the lowest forecast in the Bloomberg survey. “The longer this continues, the more likely companies will have to add to headcounts.”
These numbers bode well for those already employed, but what about Americans who are still looking for work? 1.76 million Americans have already used up traditional benefits, and are currently collecting emergency and extended payments. On top of that figure, 3.01 million Americans are still collecting jobless benefits and a reported 11.7 million Americans remain unemployed.
As a small business ourselves, our job at Crossroads Consulting is to get YOU working again. Every time we see the United States unemployment rate as high as it is (because let’s be real, 7.5% is still way too high!) we take it to heart. With services to get you employed from start to finish with our recommended resume service, and our nationwide job postings we are looking to fill TODAY, we want to hear from you.
We can promise you that the job hunt with Crossroads Consulting is a different, and overall rewarding experience. Remember, we’re here to put the ‘human’ back into ‘human resources.’