Have We Turned The Corner?

Since employment figures are what’s called a “lagging economic indicator’ – meaning that new jobs don’t appear until after economic activity has increased for a few quarters – it can often be frustrating to hear that “recovery has begun” when you’re still out of a job and looking.

Living through the worst economic collapse in modern times has made pessimists of many of us.  I know it can be difficult to believe that things are beginning to improve when the outlook at the ground level is still so bleak.  And while no one but the banker/investor class can be too excited about the oxymoronic “jobless recovery” that we saw after the last recession in ’02-’03, there is still optimism that the pain Americans have been experiencing may soon diminish. 

Since employment figures are what’s called a “lagging economic indicator’ – meaning that new jobs don’t appear until after economic activity has increased for a few quarters – it can often be frustrating to hear that “recovery has begun” when you’re still out of a job and looking.

Now I am no Pollyanna and I am not suggesting that the economy is going to come roaring back this week.  But there have been some more positive indicators starting to trickle in.  Today, the US Labor Department announced that jobless benefit claims fell by 16,000 to a seasonally adjusted 614,000.  Further, the number of ongoing claims for unemployment insurance dropped by 53,000 to 6.7 million, bucking analysts’ expectations of a small rise. The continuing claims figure lags initial claims by a week.

We’re certainly not out of the woods yet. After all, the US economy has shed more than 6.5 million jobs since this downturn began.  And hardest hit areas like California and Michigan may see things worsen before they improve.  But we may be slowly turning the corner. 

Dontcha feel smart for studying for a career in a field that will be relatively insulated from these kinds of economic gyrations?

3 Responses to “Have We Turned The Corner?”

  1. Valarie Stewart

    I like the online learning classes. I am happy to be able to prepare myself for the future in the health care arena. Yes it is a wonderful feeling knowing that the opportunities in health care are available
    since so many jobs of the past are declining.Thanks to modern technology we can take health care classes from the comfort of our home.A short term learning experience, full of long term benefits.

  2. Karen Madsen

    One of the major reasons I picked Medical insurance billing and coding as a career is because of the ever growing need to fill this position. I have felt the harmful effects of the economic reccesion before alot of my friends had and I have been suffering through it all along. I chose to change my future by going back to school and now I have three job oppertunities waiting for me to finish my education. I am preparing for my interview process by going on interviews of jobs that I do not want and so far I have had four call backs for second interviews. I know that I have made some definate sacrifices but I see now that it is all paying off. My advice to others is if you want to succeed you will find a way to make it happen. It might not be the easiest path, but it is all worth it in the end.

  3. Brenda Moore

    Some job searching tips that I have learned about in this course are that job searching can be stressful, because there are so many others applying to the same jobs. You should apply to as many relevant jobs as possible and sure that your resume is updated and professional in appearance. Make sure that it shows the areas of your expertise and your strongest qualities. There are many different ways to search for employment such as through employment agencies, newspapers and even acquaintances. When you get an interview you should arrive early, dress appropriately and comfortable, be confident and optimistic about the interview. Always thank them for their time before you leave the interview

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