Monster Job Index:April Growth Highest Since 2007
The Monster Employment Index rose eight points in April as a number of industries initiated springtime recruitment efforts. The annual growth rate in the Monster Index was 11 percent in April, the highest rate of increase since July 2007 (see chart above).“The positive momentum in the Index is consistent with other economic indicators suggesting that we may be in the early stages of an economic recovery,” said Jesse Harriott, senior vice president and chief knowledge officer at Monster Worldwide. “While most industries and occupations are showing increased demand for workers, public administration remains muted and below seasonal expectations as several state and local governments continue to face budgetary pressures.”
Highlights of the April report include:
1. Online job availability rose in 17 of the Monster Index’s 20 industry sectors and in 21 of the 23 occupational categories covered.
2. Demand for employment rose in all U.S. Census Bureau regions, with the Mid-Atlantic and New England regions showing the highest gains in April, both increasing 11 percent from March.
10 Comments:
'Demand for employment rose in all U.S. Census Bureau regions, with the Mid-Atlantic and New England regions showing the highest gains in April'...
Real positive job growth...
New jobless claims drop for third straight week
May 6, 2010
Many economists are concerned that claims haven't fallen faster this year. Instead, they have fluctuated around 450,000.
Employers added 162,000 jobs in March, the most in three years. But it takes about 125,000 new jobs every month just to keep up with population growth.
The government will release the April jobs report on Friday. Analysts forecast that it will show the jobless rate remained at 9.7 percent for the fourth straight month, even as employers add 200,000 jobs. As many as half those new jobs may be temporary Census workers carrying out the 2010 Census, economists say.
The four-week average of claims, which smooths fluctuations, declined 4,750 to 458,500, its first decrease in five weeks.
http://www.economist.com/business-finance/displaystory.cfm?story_id=16010303
looks to me like they have a good point about a really significant jump in long term unemployment.
over 45% of the unemployed are now long term unemployed. that's nearly twice the previous post war high. this will be a major structural issue and will retard employment recovery.
also, an awful lot of recently created jobs are census jobs. take the government jobs out of the figures, and they are much more worrying.
morganovich says: "over 45% of the unemployed are now long term unemployed. that's nearly twice the previous post war high"...
Apparently its been that bad for five months now if this CS Monitor article is factual: Number of long-term unemployed hits highest rate since 1948
High productivity keeps inflation low:
BLS
May 6th, 2010
Nonfarm business sector labor productivity increased at a 3.6 percent annual rate during the first quarter of 2010, the U.S. Bureau of Labor Statistics reported today, with output rising 4.4 percent and hours worked rising 0.8 percent.
Unit labor costs in nonfarm businesses fell 1.6 percent in the first quarter of 2010, as the 3.6 percent increase in productivity outpaced a 1.9 percent gain in hourly compensation.
Unit labor costs fell 3.7 percent over the last four quarters, as the 6.3 percent increase in productivity outpaced a 2.3 percent rise in hourly compensation
Would you mind normalizing the monster growth index to non-farm payrolls? Thank you.
I can tell you one thing: I am in my 50s, and everyone I know who was in their 50s and lost a job has become a "consultant," taken part-time work, etc. No one gets a job back at the old rate.
If you apply to a job on Craigslist, Monster etc, and you are more than 50, you can forget ever getting a response.
I wish I had tenure somewhere.
I did apply to be a weekend doorman at the Jones Cafe in Hollywood. They said I would have to throw out a drunken party maybe once a month. I did not get the job.
I think we have a whole generation just hoping to make it to the 62-year-old finish line, of Social Security.
"I wish I had tenure somewhere"...
Yeah, I wish you had tenure in Thailand where the nationalized health care system that you admire is...
>"I think we have a whole generation just hoping to make it to the 62-year-old finish line, of Social Security."
That's not much of a goal line. You will need a lot more than that.
Have you considered becoming a farmer? You'd be guaranteed a lifetime income in the form of subsidies.
Speaking of long term unemployment, where's Sethstorm? I would expect him to have something to say on this subject.
Does anyone but me believe that there's some connection between the current high levels of long term unemployment, and the never ending extensions of benefits?
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