Well this past month for the first time we are experiencing some light in the employment numbers both as a nation and on the small Berman Larson Kane (www.jobsbl.com) employment scale.
Job creation numbers although still a negative (350,000) have decreased from the prior years average of over (600,000) per month.
Temporary job numbers decrease by a slim (6500) almost returning to even. My experience with prior recessions this temporary category is the first to return too normal and has lead the job creation numbers of prior recoveries. I am guardedly optimistic!
We at Berman Larson Kane are trending towards normal temporary employment billing and have recently seen a small increase in new hire orders by our clients. Although direct hire numbers still lag considerably behind 2008 totals and are at least 35% behind 2007 statistics.
So the light at the end of the employment tunnel darkness is within sight. My prediction is we will get to the end of month over month job loses by September/October 2009. I hope I am right. If this is correct, we will begin to have a net job creation increase by late Q4 09 and witness some significant job growth beginning in 2010. This job growth will be two fold, new jobs and replacement positions because corporations are currently over cutting employment to control expenses.
At Berman Larson Kane we experienced a slow down of direct hire order in April & May and are seeing a return to more normal levels in June. My predictions for Q3 is still unclear, but I hoping for the best and feel relatively confident that temp work will increase until confidence is return to our clients sales projections.
As for the high unemployment numbers they may still continue to rise as job functions and productivity is realigned with the new economy and stimulus spending.
We at Berman Larson Kane continue to be thankful to our loyal clients, dedicated staff and staffing product mix. We will continue of offer free job-seeker webinars (https://www.jobsbl.com/jobs/coaching/webinars.php) twice a month to assist those in need. We anticipate a client need for retention services for key staff, transition assistance for those that need retooling and are excited about the prospects of introducing a corporate wellness program in September.
Thank you again to all for your support during these turbulent times and we look forward to assisting all as the economy returns to a modest growth pattern.