Today’s “1” Job Numbers

U.S. non-farm payrolls grew by just 112,000 jobs in November, the Bureau of Labor Statistics said today, down from October’s 303,000 gain and far short of economists’ consensus forecast. This year, economists’ forecasts have been off by an average of 93,000 jobs per month, but who’s counting? October’s job boom was apparently a mirage, caused by September’s hurricane frenzy, and prior months’ gains were trimmed. So does anyone really know what is going on?

Here at BLK we continue to see a steady stream of new job orders and clients are making hiring decisions in shorter timeframe than in the prior 3 years. So although the economists are disappointed in these job creation numbers, our limited sample at BLK seems to point in a much more optimistic upward trend during November. Orders for December have also been steady across a number of disciplines.

Reality Check: Today at the gym I meet a friend (former Information Technology Manager) who has been unemployed for the past 24 months. We had a conversation about these numbers and his response “I only care about ONE number, and ONE job for me” put this all into a very real perspective. Our leaders need to find a way make all productive by creating systems that generate good jobs for talented people like my gym friend. We at BLK apologize again for another talented person that we can’t match with one of our clients. I pray that someday in the not to distant future we at BLK can at least create the “ONE” job for each of you.