I just want all of you looking for work out there to realize that right now the job market is crummy.
You’ve been hearing lots of media reports spouting about how things are turning around, but based on the unemployment report out this morning, the job market has a long way to go.
The economy only added 41,000 jobs in May. 41,000 jobs! That’s the total jobs created in the country. If you divide that up among the 50 states that’s 820 jobs per state. That’s fewer jobs than the typical attendance at most job fairs these days.
A report put out this morning by The Conference Board’s Chief Economist Bart van Ark says the jobs report today is “disappointing:”
“Continued slower growth would mean we’ve passed an unprecedentedly early peak in the rate of employment growth following a recession, which wouldn’t be good news for the recovery’s strength. Manufacturing jobs gains are at best tepid, and a lack of significant growth in construction, financial services, and information show several sectors aren’t yet on the recovery path.”
So, don’t get down on yourselves if you can’t find work. I know some of you are.
I recently interviewed a manager at one of the nation’s biggest employee assistance program providers, or EAPs, about the rising rate of suicide in the workplace. He said many of the distress calls he’s getting from workers has to do with how their financial lives are in dire straights because a spouse is unemployed, or their hours have been cut back, but all they hear in the news is things are turning around.
“The media keeps saying the economy is getting better,” said Charles Lattarulo, clinical director for Harris, Rothenberg International. “That’s detrimental to some people out there. They are not feeling that.”
It’s hell on people when they start to think they’re alone in their struggles. Well, you’re not. There’s a great story by one of my colleagues at MSNBC.com about people who have exhausted their unemployment benefits. Many of these individuals are frustrated but they’re not giving up.
You shouldn’t either. Things are looking better on the horizon.
The Society for Human Resource Management’s Leading Indicators of National Employment Report, which includes the only national employment index of month-ahead hiring expectations, found:
“Though the job market remains weak, June 2010 hiring expectations show a double-digit jump in the number of companies that will hire versus layoff.”
That’s a bit of good news to chew on.
How’s your job search going? If you have any questions, need advice, or just want to vent, please comment so we can all help out. Many great HR professionals read my blog and are always willing to offer their insights. Also, if you’d rather keep it private, just email me at email@example.com.
Good luck folks. You’re not alone.