The New York Times reported that the jobless rate has increased to 8.9 percent. That is the bad news. The good news, however, is that the job slaughter has been substantially reduced. With the economy in such terrible condition many wondered when will it end. Now some say at least the downturn is slowing. If we are not at the bottom of the economy, then we are drawing closer. As for the turnaround itself, predictions vary.
With the ease in the job losses there are also signs that certain employers are starting to hire again. There is activity. As a background screening company, we can see it in the number and types of background checks we conduct for clients, old and new. There is some motion. In terms of returning to the heights of a couple of years ago, that is doubtful at best and may take years to recover. But, hey, just a month or so ago, many people thought there was no end in sight. Now at least it appears we are nearing the bottom.
One thing I liked about President Obama’s proposal that a candidate may be entitled to continue their unemployment benefits provided they enroll in school With the idea being that education is our best investment for equipping people for the jobs of this century, I’d say there are worse ideas than assisting people with going back to school.
Still, we are a long way out of the woods. Nearly 14 million people are now out of work. Job lay offs are still running over 600 thousand per month. Businesses are folding. Driving down the streets of Los Angeles, even in the upscale neighborhoods, it is not uncommon to see rows of vacant retail shops. I’m sure it’s the same everywhere.
But this too shall pass. Who knows? We may end up a better nationf or it.
