For now it seems as though the eye of the storm has passed, but we’re not out of the woods yet, especially those of us looking for jobs…

• Throughout the course of a nation’s economic history, job markets fade and expand, but this recession has thrown a wrench into this natural process of economic evolution—some of the jobs lost in this recession will never come back.
• With corners being cut and companies outsourcing work to more efficient producers, businesses have altered their business and learned new techniques and methods for doing more with less.
• Though the economy is beginning to recover and jobs are coming back, the rate of job creation has slowed considerably. That, coupled with many people joining and rejoining the workforce, means that unemployment and economic growth indicators will continue to be somewhat stagnant in the foreseeable future.

Facts & Figures

• Nearly a quarter of the 8.4 million jobs have been lost since 2007 won’t ever be coming back.
• About 133,000 jobs will be created each month of this year, but economists predict that the unemployment rate will fall only to 0.3% by year’s end.
• In order for unemployment to fall at a faster rate, economists say that over 200,000 jobs will need to be created each month.

Best Quote

“There’s a certain Darwinian angle to recession. Firms that survive are stronger for having the experience. They tighten down and look for ways to cut waste.” -–Sean Snaith, Economist at the University of Central Florida.

Tags: job market, jobs, outsourcing, recession