The unemployment rate was 9.7% in May, down slightly from April. Total nonfarm payroll employment grew by 431,000 in May. However, 411,000 of those jobs were temporary positions working on Census 2010.
In the private sector, manufacturing, temporary help services, and mining added jobs, while construction employment declined.
Despite the small number of private sector jobs added, there are several job market reports indicating positive job growth for the remainder of the year.
For the first time since it launced in February 2009, Indeed.com's Industry Trends Report for May reports year-over-year job posting growth in all of the major industries that are tracked.
What's significant is the double-digit increases in job postings in many industries. For example, Media & Newspaper is up 37%, Hospitality up 49%, and Retail up 53%.
A survey from Dice reports that a majority of employers and recruiters (52%) anticipate hiring more career professionals in the second half of 2010 than they did in the first half of the year. 49% project they will add up to 10 percent more employees compared with the first half of 2010, while 28% plan to increase hiring by 11-20%.
The Society of Human Resources Management (SHRM) reports that June 2010 hiring expectations show a double-digit jump in the number of companies that will hire versus layoff.
The SHRM LINE Report shows that a net of 44.9% of manufacturing companies will add jobs in June as will a net of 50.8% in the service sector. The numbers will mark the eighth straight month that hiring will increase in the manufacturing and service sectors.
The bad news is that the job marketing isn't growing nearly as strongly as was hoped and it's going to take a lot of new jobs to make up the 8 million positions lost during the recession.
The good news is that companies are hiring and forecasts predict continued job market growth.
Related: Job Listings | Unemployment
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Thanks for the help! It really is good to know that things are starting to turn around in this economy and we can have more jobs available to people who are in need of them. I still know a lot of people that are trying to find a job, but just haven’t really had a chance to interview like they have wanted.
I hardly think that 411 thousand temporary jobs is a solution to the job market crisis. There are so many people out there that are unemployed, and underemployed. If they don’t find a permanent solution soon, I’m sure things will get worse.
That is really great to hear that things are slowly starting to move in the right direction. I really want to be sure that we can get more people jobs and that they can get back on their feet again. I know what its like to have to try and survive on no money whatsoever. It is not fun and don’t wish it on anyone.
That is good news. I’m glad that there are more companies that are hiring. The unemployment rate is still a lot higher than it should be and there are so many people out there that desperately need jobs.
The improving numbers regarding employment is great news for the medical field. It has been a typically stable field for employment, but this news makes taking CNA classes and medical assistant classes even more practical.
This is great news for professionals. Whether it is elevator repair or advertising advocates, having a projected rise in employment levels will help many people who are looking for work the second half of 2010.
I’m not sure where we stand currently with unemployment, but hopefully this was a trend that will continue! I know that our commercial cleaning company has been seeing increased office cleaning and janitorial business and so have been hiring aggressively this year!
Would you recommend hiring a financial planner? I know they can be expensive but I think they are worth it, your thoughts would be very appreciated!
It’s good to hear that things are looking up for the employment industry. I know that there was a very long time when many people were very uncertain about the job market and everyone was hanging on to their employment like a walker on a tight rope. I’m glad that things are finally in the positives.