Chatter regarding the end of the recession is being legitimized by a slight uptick in job openings. While the unemployment rate remains at an alarming 10.2%, the highest it’s been in 26-years, job openings have gone up from 2.42% to 2.48% in recent months.
The jump implies that we have hit rock bottom and are now rebounding, if only very minimally. As is customary in times of recession, companies are still hesitant to begin rehiring after many corporations were forced to make heavy layoffs this past winter.
As a result, hiring remains near an all time low, regardless of this break in the clouds. The transportation, trade and utilities sectors have experienced the greatest number of openings after experiencing heavy layoffs earlier in the year.
Recent layoff numbers have also decreased despite being up 89% when compared with September of last year.
For every new job opening there remains 6 people unemployed, the greatest incongruity on record. For now, opportunities in the professional and business services sector have presented in the form of an increase in temporary workers. Temporary employees are typically the first to be let go in the face of a downturn and the first to be hired on the rebound.
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