Payrolls could reach their pre-crisis levels mid- next year. - A. Harrison Barnes, Chief Executive Officer of Employment Research Institue
Pasadena, California (PRWEB) June 05, 2013
Reports from the U.S. Labor Department and the Bureau of Labor Statistics show that unemployment rates have dropped in 92 percent of the U.S. cities. EmploymentCrossing backs the reports, confirming over two million active job postings on its official website.
“Unemployment rates are slowly decreasing since April and this,” says A. Harrison Barnes, Chief Executive Officer of Employment Research Institute, “is for seen to ensure that payrolls reach their pre-crisis levels mid- next year.” If the trend continues, Barnes affirms that the unemployment rate could reach the 6.5 per cent level by the same time.
According to the U.S. Labor Department, the economy is picking up pace. Employers are adding about 208,000 jobs each month since the past six months. This is up from 138,000 jobs in the previous six months. However there is unevenness in the recovery. While Oklahoma City, Iowa and Bismarck, N.D., Midland and Texas claim to have the nation's lowest unemployment rate at 3 per cent; Nevada, Illinois, Mississippi and California still have a high 9 percent unemployment rate, even though it has declined from the earlier 9.6 per cent.
Some of the biggest drops in unemployment since April have taken place in coastal cities. This can be attributed to the pickup in seasonal hiring and 274 metropolitan areas increasing their non-farm payroll employment. According to Jay Rowell, Director of the Illinois employment department, “this uneven path forward likely will continue until consumer and business confidence can be sustained at the national level.”
Presently, job creation is restricted to the services sector, but opportunities in other sectors will surface with time. For instance, strong gains have been observed this month in leisure and hospitality, retail, professional and business services as well as health care industries. With time, it has become essential that a close nexus is created between monetary and fiscal policy at the State level with respect to the unemployment issue. This is because a robust employment growth will support the U.S. economy greatly. U.S. policymakers realize this and are definitely doing a better job than their European counterparts, who have an unemployment rate that is still high at 11 percent.
To view opportunities in the U.S., visit: http://www.employmentcrossing.com/jobs/jobs.html