Today the Bureau of Labor Statistics (BLS) released new data and reported 190,000 jobs were lost in October. Although that figure means 190,000 people lost their jobs–a reality no one can be pleased about–it is a better figure than the 219,000 jobs lost in September. Look back to a year ago, when the numbers hit 597,000 in November 2008 and only got worse for the next five months. In that regard, the outlook is definitely more positive than it was only a few months ago. The unemployment rate also came out today, and at 10.2 percent it set a record for the highest rate since April 1983.
So are there any bright spots?
Yes, actually. Health care added 29,000 jobs in October. Temporary employment services had steadily lost jobs in the beginning of the year, but in October they added 34,000 jobs. Companies have the need for more workers, but they’re cautious of adding new permanent employees. If the economy struggles again, they’d prefer to not renew temporary workers’ contracts rather than layoff a group of employees.
Two CareerBuilder.com experts were on TV to discuss the job numbers and the job outlook this morning.
First up, watch CEO Matt Ferguson on CNBC.
And senior career adviser Michael Erwin was on CBS 2 in Chicago. Watch that clip here.
You can also read the detailed, full report from the BLS on its site.