Unemployment Reports: Why the Numbers Might Not Be So Great

Resume Writing
Resume Writing
Career Choice
Career Choice
Job Search
Job Search
Interviewing
Interviewing
Employee Rights
Employee Rights
Salary & Benefits
Salary & Benefits
Unemployment
Unemployment
Recruiting & Hiring
Recruiting & Hiring
HR Management
HR Management
Job Networking
Job Networking
RSS Feed
RSS Feed









By Sergey Novoselov
June 7, 2009 in Unemployment

Get paid to post resume online


Share Share

Was the significant decline in job losses last month a sign of improving economy or was it incomplete statistical data?


According to Forbes, Harvard economist Jeffrey Frankel points to a disturbing figure buried in a Labor Department report: The amount of time that people with jobs actually worked in May tied for the lowest number since 1964 - 33.1 hours a week.


The unemployment rate, which is based on a separate household survey, hit 9.4% last month, the highest in 25 years. This number gets all the attention, but what matters is how much work people do, not just how many of them show up at their workplaces every day.


We are paying too much attention to the fluctuation of this single number. The scary part: Frankel thinks losses in coming months could be as rapid as they were earlier this year. In any case, it might be a good idea to post resume sooner rather than later.

 


    Next article: The Cost of Layoffs