Tag Archives: BNP Paribas

PRITCHETT: IMPROVING JOB MARKET MEANS IMPROVING COMPETITION FOR JOBS

Casey PritchettBY: Philip Pritchett

According to the Wall Street Journal, June saw an increase in U.S. jobs that reduced the unemployment rate to 6.1% – its lowest point since September 2008.  The 288,000 jobs created also helped to extend the best five-month period the U.S. has seen since 2006.  These results pleasantly surprised many economists who had anticipated a 215,000 job increase with no real impact on the unemployment rate.  “This is one welcome Fourth-of-July report for the outlook,” said Chris Rupkey, chief financial economist at Bank of Tokyo-Mitsubishi UFJ.  The 288,000 new jobs “are just the fireworks the economy needs to brighten up.”

This Wall Street Journal report also included signs of positive growth in other areas of the economy.  U.S. stocks showed signs of life, as the Dow Jones Industrial Average surpassed 17000 in a single day for the first time ever.  The dollar even gained value due to the effect that the strengthening economy could have on Federal Reserve interest rate increases.  “Today’s report indicated that labor market slack is diminishing, albeit slowly,” said Bricklin Dwyer, economist at BNP Paribas.

The recent job creation is evidence that the economy is continuously gaining momentum.  The retail and hospitality industries produced almost 80,000 jobs, while manufacturing and construction added another 22,000.  “The latest five monthly jobs reports are consistent with the view that, in spite of a horrendous first-quarter GDP result that was the victim of a ‘perfect storm’ of negative circumstances, the economy is well underpinned,” said Joshua Shapiro, chief U.S. economist at MFR Inc.

As the economy continues to strengthen, so too will the competition for the best available jobs.  Job seekers owe it to their self to be as prepared as possible when pursuing their next career opportunity.  The process is changing, and those who are unaware of these changes will find themselves at a disadvantage.  Firms such as Crossroads Consulting help job seekers maximize their chances of landing their dream job by staying on top of current trends within the job market.  With services that range from interview preparation all the way down to contract negotiation, their guidance can be the difference between settling for that mediocre job that EVERYONE’S qualified for and the high-paying job that YOU’RE qualified for.  Contact them today at (203) 459-9969, or send a resume to info@crossroadsconsulting.com.

REAL UNEMPLOYMENT NUMBERS UNSATISFACTORY – AGAIN!

???????BY: Adam Gavriel

Hope springs eternal… or at least that’s how the saying goes.

A report recently released from CNN shows that first-time claims for unemployment levels suddenly decreased to their lowest level since 2006 for the week ended September 7th.

“About 292,000 people filed initial claims for unemployment benefits in the week ending September 7, the Labor Department reported Thursday morning. That’s a dramatic 31,000 drop to the lowest level since April 2006.”

Unfortunately, the Labor Department also noted that two states reported incomplete results, and that number is suspected to increase in the next few weeks.

And of course, as with most reported numbers, not everything is as cheery as it seems. 11.3 million Americans still remain unemployed, and this number doesn’t take into account Americans who have left the workforce, underemployed Americans, or those working part-time jobs who are seeking full-time employment.

The Great Recession is aptly named.

CNN continues to report in the article that there are about three unemployed people for every one job opening. Hiring is too stagnant to keep up with the demand of those looking for work, which will continue to mire the American economy in its slow recovery.

“’The underlying story in jobless claims is one of a continued improvement,’ said Yelena Shulyatyeva, a market economist at BNP Paribas. ‘However, as we continue to highlight, claims have not provided the best read on overall labor market conditions since they only capture the pace of firing and not what is happening on the hiring front.’”

These numbers continue to provide the facts, as long as you dig deep enough to find them.

While the released reports last month of the unemployment number dropping paint a rosy picture, the truth is not a simple. This Great Recession is truly that, and the stagnant pace the recovery is going at, will continue to provide the economy we live in with its name.

That’s why at Crossroads Consulting we’re doing everything we can to get the artists to start painting a new picture. With our job openings that we are looking to fill today, we want to hear from you. As an employment agency seeking to help out however we can, please do not hesitate to contact us today. If you’re not comfortable with your resume, we can help you there too with our recommended resume service.

We’re doing our best to get in contact with you, and we hope you take the time to reach out to us, and let us know how we can help you.

Remember, at Crossroads Consulting we’re putting the ‘human’ back into ‘human resources.’