Staffing & Employment News
The BLS statistics were encouraging. Nonfarm payrolls were increased by 195,000 jobs in October. The private sector created 151,000 of these jobs, marking the 10th consecutive month of job growth. Almost 1/3 of these increases were in “professional and business services” specifically in professional and technical, computer systems design, management and technical consulting, administrative and waste services, and employment services. Employment in temporary help services also continued to increase in October. This month’s gain was 35,000; increasing 451,000 since September 2009 lows.
The problem with this growth is that we are behind by 11 million jobs as compared to the pre-recession unemployment rate of 5% in December 2007. To obtain this unemployment rate within the next 5 years, we need to see a net of approximately 300,000 jobs added every month. (more…)