« Inflating our way out of debt | Main | Don't write off manufacturing »

March 24, 2010

Firings and hirings

Most of us look at the unemployment rate as a barometer telling us how well the job market is doing. We also hear reports about the net number of new jobs created. By both of these measures, the job picture isn't very good. Unemployment is up, and net new jobs are down. Does this mean no one is hiring?

Dr. Mike Walden, North Carolina Cooperative Extension economist in the College of Agriculture and Life Sciences at N.C. State University, responds:

"Not at all. ... In fact, what our numbers that we receive each month on the job market mean is they mean the difference between hiring and firing. For example, last year we had a negative number of 7 million: that is, more than 7 million people lost their jobs compared to those that found jobs. Now where does this number come from?

"Well, actually, if you look at last year, 50 million people found a job; 50 million people were hired last year. But it turns out that 57 million people were either fired or quit. So you have to remember even in the dark year of 2009, where unemployment went way up, we actually had 50 million people hired.

"So you have to be aware that we do always have hiring going on, which means that even in tough economic times, if you have the skills that the job market wants, you should not give up.

"You should go out there and look because there are people always always hiring."

Posted by deeshore at March 24, 2010 07:33 AM