National Job Numbers Don't Tell the Whole Story
Just because the national unemployment rate rose from 8.1% to 8.2% in May is no reason to believe the rate in your area rose at the same rate, or for that matter rose at all. Indeed, we are still seeing employment on the rebound in some places, even if not in all places.
Looking just at the job situation in Texas in March, 2012 vs. March, 2011, we see an improvement of 245,700 jobs, up 10,900 jobs from February. In April, the unemployment rate in Texas was down to 6.9%, from 7% in April and 7.1% in February. That might not be low enough to celebrate over, but it’s definitely on the rebound.
Similarly, the employment services category, which includes temporary help services as well as employment placement agencies, executive search services, and professional employer organizations, is advancing, too. The industry added 1,900 workers in March. In fact, analysts counted about $8 billion ion industrial staffing in March, up from $6.6 billion in March , 2011.
What does this all mean for you? It means that while there’s reason to be cautious, there’s no reason to hide in your bunker and avoid hiring entirely, especially if you’re in an area of the country where there growth is less sluggish. If you are concerned about continued growth, following the strategy of hiring temporary workers, rather than salaried full-timers, may be the wisest strategy. It certainly appears to be a strategy on the upswing.