🖤 Donations of all sizes power our public service journalism Give Now
Marketplace Scratch Pad

Wait and see

Scott Jagow Jun 18, 2009

Yeah, it’s a cliche, but that seems to be the most accurate description of the job market at the moment. There are small signs, like this morning’s numbers, that could be at least in the neighborhood of positive. But the consensus is that employers are not in any hurry to hire people.

As this CNN Money story points out, we’re probably still a year away from seeing a significant move in hiring (emphasis mine):

“For the job seeker it’s probably not necessarily obvious right now that things are improving,” said Jennifer Schramm, the manager of workplace trends and forecasting for The Society for Human Resource Management.

Although anecdotal evidence suggest that hiring expectations will improve in the second half of the year, “we have to wait a few months to see if this is a trend,” she said.

The rate at which companies are cutting jobs has dropped dramatically, but the unemployment numbers are still stacking up.

This story says New York has 800,000 people out of work, the most in 33 years. Many states reported higher unemployment rates today: Tennessee, Georgia, Minnesota, Massachusetts and Michigan (yikes), among others.

If you’re in an unemployed state of mind, I recommend unemploymentality.com. Might be just the thing.

There’s a lot happening in the world.  Through it all, Marketplace is here for you. 

You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible. 

Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.