Even with more than 650,000 jobs lost in February, as the unemployment jumps above 8 percent,
there are still companies hiring, still hope for new jobs and employment.
The U.S. Department of Labor reported today that employers cut 651,000 jobs last month,
pushing the nation's unemployment rate to 8.1 percent (from 7.6 percent in January) --
the highest level since 1983.
At the same time, the Labor Department also released data showing that previous two
months had deeper cuts than first reported -- 681,000 jobs in December and 655,000 in January --
a total of almost 2 million jobs lost in just the last three months.
Since the job losses began in December 2007, the economy has lost a total of 4.4 million jobs.
Employment gains and losses in February followed the same pattern as in recent months, with
manufacturing eliminating 168,000 jobs, professional and business services eliminating 180,000 jobs,
construction cutting 104,000 jobs, temporary-help agencies cutting 78,000 jobs, retailers cutting close to
40,000 jobs, financial services eliminating 44,000 jobs, and leisure and hospitality jobs cut by 33,000 jobs.
Only education and health services, as well as the government sector, saw employment gains last month.
Even as more big employers were announcing further cuts this week, and with some economists expecting
job losses to continue for at least the next 6 months -- with unemployment rising as high as at least
9 percent -- there are still companies fighting layoffs by reducing hours or assigning unpaid leave...
and there are still companies hiring, albeit just not as many as in the past -- and with much
great competition from other talented job-seekers.
If you (or your clients) are still employed, but concerned about your future, read our article,
Layoffs Coming? Take Action Now to
Lay Foundation for Your Future.
As we have also stated here in the past, do not despair. These job loss numbers are staggering,
and even though the government is trying to do its part with the stimulus package, the daily business
news is all doom and gloom -- and yet, smart and hard-working job-seekers are finding employment
opportunities. Read also, this article from Time.com:
Despite
Rising Unemployment, Here's the Economics Of Hope.
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