Friday, December 4, 2009
Job Market Shows Big Improvement
Posted by: Christina Dove
Throughout the entire economic crisis, we have seen a steady decline in the job market. Many people have been laid off, many college graduates are finding it hard to get hired, and many employers are trying to cut labor costs. Since the recession has hit almost every American has had their job/salary impacted in one way or another.
However, despite this gloomy economy, there has been a slight improvement in the job market. For the past month of November, the economy only lost 11,000 jobs which is a minor improvement from the number of jobs that have been lost in the past few years. Although many economists are excited about this promising statistic, it is too early to tell if the improvement is permanent for months to come. "I think it's a little bit premature for champagne, but after enduring two years of really bad news, let's enjoy this one," said Jay Bryson, economist with Wells Fargo Securities. "You've got to walk before you start running. I don't think we're walking yet, but we're starting to get back up on our feet."
It will still take time for the people who have already lost their jobs to get their feet back on the ground and get a new job. But the progress we have seen this past month may make it that much easier for some people to start making money again in this down economy.