February 5th, 2010

January unemployment dips unexpectedly, leaving many people scratching their heads.  It’s no secret that the job market is tight, and finding employment is harder now more than ever.

Still yet, it’s bad when a “decline” in unemployment is experienced when you hit a rate of 9.7%.  There are many states in the country that still have high unemployment rates in the double digit percentages.

Those that are looking for rosy times may have a long wait.  It’s been reported that it could take until the middle of the decade for the market to pick back up again.

President Obama hailed the drop as “cause for hope, but not celebration”, meaning that we are far from out of this mess.

Normal unemployment is 5.5% to 6%, and during the 2012 elections it’s estimated that the levels will still be around 8.2%.

Unemployment doesn’t take into consideration people that have stopped receiving benefits, stopped looking for jobs, and the underemployed that have accepted roles below their current educational and professional levels.

Those that are currently in the market for jobs should note that they will have a lot of competition.  There are many highly educated people out there that are accepting  jobs as receptionists and laborers, which pushes those that typically apply for these types of jobs to the side.

If you have employment, be the best employee you can be.  If you don’t make sure you do everything in your power to make yourself stand out from the crowd.

Source:

ABC News