Signs of Recovery in a Slumping Job Market
At the national level, the Feds are talking about the potential of a market recovery. Earlier this month, Federal Reserve Chairman Ben Bernanke even stated that the recession is “very likely over”. The federal government may just be right. On local levels, this potential is already taking root. Across the country small pockets of local businesses are recovering and actually hiring or re-hiring employees.
These small pockets are showing up all over the country. Employees are being recalled in specific areas throughout the Midwest and the South East. For the third week in a row, unemployment rates have continued to drop. This week alone, they have fallen by 21,000 employees across the United States. The state that benefited most from this decline was Texas, where unemployment claims declined by over 4,500.
ScotBilt homes in Atlanta, GA laid off 110 employees last October. After recalling workers and hiring new employees, the employee base will jump to 300. In Paris, Il., the Simonton Windows Factory has begun preparing for the re-emerging housing market by calling back 100+ workers. Many of these workers have been laid off for months because of the housing market collapse. Each of these companies are so confident in the return of the housing market, that they have begun to re-invest in their work force.
The automotive world is experiencing similar recovery thanks to the recent Cash For Clunkers initiative. The reach of this program has fueled recovery for several organizations. US Steel, a major provider of steel to the automotive industry, hires back 960 employees. A GM plant in Kansas City plans to restore or add 945 new jobs early next year.
Smaller manufacturers are experiencing similar needs to restore their work force. Exmark Manufacturing Company, Inc. in Nebraska recalled over 200 workers. Eaton, a truck transmission plant, in Iowa recalls 50+ employees. In Ohio, a division of DuPont, Washington Works called back a large percentage of their laid off workers.
The market is still very difficult for job seekers. However, there is good news on the horizon. There are also small pockets of commerce that offer more than hope. Stay dedicated, work hard, and your job search will pay off. The slump is ending for many and may end for you soon!