The Bureau of Labor Statistics on Friday reported that unemployment jumped to 9.4%. Since the recession officially began in December 2007, unemployment has increased by seven million people and 4.5%. Experts say that the pace of job losses is slowing, so that’s sort of good news, but job growth is likely to remain sluggish for years, which in my mind is very bad news.
Kevin Hall of McClatchy Newspapers reports: “Employers shed 345,000 jobs in May, the fewest since September, and far fewer than the 500,000-plus cuts that forecasters had expected. Job losses also were not as bad in March and April than initially reported: 652,000 in March, not 699,000, and 504,000 in April, not 539,000, the Bureau of Labor Statistics said.
Those numbers show a clear moderating trend; they compare starkly with the 741,000 jobs lost in January, the worst month in the stretch.
While that’s all better than expected, the BLS also reported that the nation’s unemployment rate jumped by half a percentage point in May to 9.4 percent, driven up in part by 350,000 new entrants to the nation’s work force. There are now 14.5 million unemployed Americans.”
Meanwhile, TVNewser is hiring an editor in New York. Sounds like a fun job! And if someone who is currently unemployed gets this job, then there will only be 14,499,999 unemployed Americans.
Begging for interactivity: Anyone have any thoughts on my question of the week: Is the media job market improving? And a follow-up question: if not, when do you think it will get better? If so, head on over to the Fates Community Board and let me know your thoughts.
Also, I’m hoping to make my “Better Know an Executive” a regular feature. If you know anyone in the TV industry who – besides working his or her demanding job and trying to have a personal life – has a really interesting sideline going on, I want to know about it! So if your boss is the lead singer in a metal band on the weekends or if the anchor at the station you work for also runs marathons, shoot me an email at firstname.lastname@example.org.