Tag Archives: Dow Jones Industrial Average

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.

STOCKS AND THE MARKET AND EMPLOYMENT

BY: Adam Gavriel

The best reflection of how the United States economy, and the world economy in some cases, is going is shown by the stock market. What’s even more incredible about this, is that is an instant indicator, and one that will tell a story in very few words. The stock market can make or break a fortune; but if a picture says a thousand words, how many words does a graph say?

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Here is a graph of today’s market movements so far. In blue, the Dow, in red, the NASDAQ, and in yellow, the S&P 500. All trending downward since the market opened this morning.

This is all because early Wednesday morning reports cited that the economy is continuing to “recover” at its incredibly sluggish pace.

From an article posted on Yahoo! News this morning:

“Investors have become increasingly sensitive to economic reports in the last two weeks. They are trying to anticipate when the Federal Reserve will pull back on its $85 billion of bond purchases a month. That program has supported markets this year, and on some days stocks have even rallied on speculation that an ailing economy would ensure the stimulus will remain in place.

“We’re pleased to see the market sell off on some bad news,” said John Lynch, a regional chief investment officer for Wells Fargo private bank. “The whole idea that bad news was good news was frustrating because it suggests to me that the markets are becoming too Fed-dependent.””

On Friday, the United States Department of Labor will release the employment report from the month of May. Many economists expect the Unemployment rate to continue dropping to a more manageable number. The problem will continue to lie in the speed of the recovery, which is making the economy seem more and more stagnant every month.

As an employment agency, we are seeking candidates every day to fill the open job positions that we have TODAY. We pride ourselves on being a search firm, so we may find you before you find us, but wouldn’t it be greater to meet in the middle somewhere?

At Crossroads Consulting, we firmly believe in being an employment agency that fully understands their clients on both sides of the employment spectrum, we aim to be human. That is why it is our goal as a search firm to put the ‘human’ back into ‘human resources.’

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Please do not hesitate to get in contact with us, because it is only together that we can speed up the rate at which unemployment falls!

(Un)Employment Numbers

BY: Adam Gavriel

The June United States job reports show a stagnant growth rate while the country celebrated its 236thbirthday this past week. According to a report by Yahoo Finance, the United States economy added just 80,000 jobs in June, while the unemployment rate remained unchanged at 8.2% This is the third straight month that the United States has shown weak job growth.

From the April to June quarter this year, the economy averaged just 75,000 jobs/month, one-third of the pace in the first quarter of 2012.

With the slow-rate in which jobs are being added, consumer spending continues to decrease and business all over the nation are going to feel that hit. On top of that, Europe’s debt crisis continues to slow exports from the United States. From the report: “Job creation is the fuel for the nation’s economic growth. When more people have jobs, more consumers have money to spend – and consumer spending drives about 70% of the economy.”

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