Are We There Yet?

Guest Author: Ashley Hennig

Perhaps the most frequent question I get asked these days is whether the dramatic incline in the layoffs, as well as the decline in the hiring market has leveled off. This summer it isn’t just the kids in the backseat on a road trip asking, but candidates, family, friends and even clients all seem to be asking the same question: are we there yet?  It seems everyone is wondering if there is any hope of putting those rose – colored glasses back on.

According to the United States Bureau of Labor Statistics (link below), the job openings from May of 2008 to the last day of May in 2009 has declined by one and a half million jobs, or thirty six percent. Unfortunately over the past twelve months, job openings have dramatically fallen in all major industries, across all regions of the country.

As of June 2009, the United States Department of Labor has reported a nine and a half percent average unemployment rate across the country. However, the request for unemployment benefits has decreased in the past couple weeks (link also below). From what I have read and seen on the news, several economists are projecting that the unemployment rate will top out somewhere around twelve percent before we reach the peak.

To be optimistic though, I seem to be hearing more and more often that information technology contract work will soon be picking up again, as companies still have goals to accomplish in 2009, and with their shrinking permanent work force and hiring freezes, it seems that hiring more contractors is inevitable. And even with all of the foreseeable changes to healthcare in America, from what I can tell all experts are still expecting a huge boom in the healthcare staffing industry, and likely a shortage of qualified candidates.

It’s hard to say whether we’re there yet or not, but perhaps the peak is just edging into view.

United States Bureau of Labor Statistics: http://www.bls.gov/news.release/jolts.nr0.htm

United States Department of Labor: http://www.dol.gov/