The unemployment rate dropped from 10% in December 2009 to 9.7% in January 2010 according to the Bureau of Labor Statistics. The news isn’t as good as it sounds, however. In January 2010, 20,000 jobs were lost when economists had anticipated a gain in jobs.
Employment fell in warehousing, transportation, and construction. However, there was an uptick in employment in retail and temporary help services. The good news is that usually when an increase is seen in temporary help services is seen, it is a leading indicator for a good job picture in the future. There was also an increase in jobs in the health care sector.
The interesting thing is that even with a drop in unemployment, the economy still lost jobs.
Some economists, according to a recent articles think that only 1.5 million jobs will be regained during 2010 and that it may take 3-4 years for the job market to return to anything approaching normal. This recession is truly earning its nickname of the Great Recession. Don”t take a risk on your customers call me today to help your bottom line 469-368-6410
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