Getting a job just got a little easier
http://money.cnn.com/2010/02/09/news/economy/job_openings/index.htmThis month on average, 5.9 job seekers are competing for each job opening, down from 6.4 the previous month. And it's the first time the ratio of job seekers to jobs dipped below 6:1 since June of last year.
Good news!
Even though this news indicates we are heading in the right direction, it's still a far cry from from pre-recession levels. It may give job seekers a little encouragement, but nonetheless, the job market is still very competitive. Lets hope that the ratio continues to shrink to levels similar to that of December 2007 where there were only 1.7 workers per opening.
ReplyDeleteEmployers are still cautious about hiring workers. Hiring is near its low since the Labor Department began tracking hiring 10 years ago.
ReplyDeleteA survey showed that employers across the board hired just over 4 million workers during the month, down just slightly from the month earlier.
It should be remembered that employment level is a lagging indicator of the economy. Even though the number of job seekers competing for each job only went down slightly, it might as well indicate that our economy is beginning to strongly recover.
ReplyDeleteAlthough the number of job seekers may be easing, one must look at these figures at relative levels. These levels are still historically high and still reflect a hurting economy. Additionally, there has been debate over a "double dip" recession in which out economy may hit relative lows yet again. This would put pressure on unemployment and would hinder employers ability of hiring new employees.
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