There are some good economic monitors that are speculating – let me say that again – speculating – that the latest bad news which was a jobs loss report for the month of April 2009, may be some of the last bad news we receive about our further ailing economy, based on other numbers that they have been running and other economic indicators that are on the horizon.
While it certainly does not mean that the job losses are over (Americans have lost an estimated 5 to six million jobs during the duration of this recession thus far, but don’t forget this recession began back in 2007, which means it’s been going on for well over one year now), it does mean perhaps that the April report may be the most severe we see for the next few months, and that after that, since other indicators are on the rise, we may begin to see employers hiring people again. Wow, won’t that be nice!?
It’s interesting, the dynamic that is going on right now. I was just talking to a friend about how you keep hearing that new college graduates as well as people who are high up on the food chain when it comes to jobs, since there are few of those high paying jobs out there (companies are targeting not just middle management, but those with seniority as well as the higher paid employees, to cut costs significantly), are having a very hard time finding work right now.
With the April jobs reporting that over 500,000 additional jobs were lost in April, that means that’s all that much more competition out there for people looking for work. Heck, I’m not even immune in my small department at a major company, and I thought I was. We’re having efficiency experts come in next week, and for all I know, I may be in a position where I have to defend my job. But I guess that means I can just write more blogs for you then, huh?
But I digress, the point I’m making is that right now jobs are one of the worst signs we have. Because the economic bottom has been a process sort of like a domino effect, the worst of the job losses may be over sooner than we think, and those same companies that laid people off left and right just a few months ago may be looking to hire people back or hire new people, just to get them in the door and trained for when the economy really starts to look up and consumers and businesses alike loosen the strings on their purses and are ready to become buyers again.