Unemployment Rate Reaches 7.2%; EmploymentCrossing Revs Up Efforts to Post More Jobs Every Week

January 12, 2009   |    PDF version

Pasadena, CA — Employers slashed jobs by 524,000 in December, the most in more than 15 years, according to the latest Department of Labor report. The US economy lost fewer jobs this month compared to 550,000 write-downs estimated by the economists’ forecasts. The unemployment rate of 7.2% is reportedly the highest since 1993. EmploymentCrossing, the leading job board in the US, agrees that the current job market has been increasingly ruthless toward the employees, as widespread cuts attain a new high.

''Yes, it is true that the job market has plunged into dire straits and it is worsening dramatically and consecutively for over 12 months now,'' says Harrison Barnes, the CEO of EmploymentCrossing. ''EmploymentCrossing is trying its best to increase its job count. The need of the hour is to accelerate that growth even more and also make more and more people aware of where the jobs are available.''

Further, according to the report, in December, manufacturing saw its steepest one-month cut in more than seven years, with nearly 150,000 jobs lost while professional and business services shed 113,000 jobs. The construction industry took the third biggest hit, losing 101,000 jobs in the month—the 18th consecutive month of construction job losses and retailers got rid of 67,000 positions.

Also, the average workweek posted an unusually large dip—from 33.5 hours to 33.3 hours. The swing was broadly based across almost all of the major industry groups. A decline in the workweek tends to be a precursor of future job loss. Many analysts now expect the unemployment rate to reach 9.5% by the end of the year.

''The job market has definitely hit a new low this year, but it was, in a way, expected beforehand,'' says Barnes. ''Efforts have been made to make people aware about the source of jobs, because they do not know where to find them. EmploymentCrossing is focusing on several US states and other demographics, especially the hard-hit ones, and has been successful in its endeavors. Over the week, the job site has managed to post almost 250,000 active new jobs in a week, one of its best efforts despite one of the worst employment figures recorded in the month.''

''With a highly trained team of researchers who personally screen each and every job posted on EmploymentCrossing’s portals, EmploymentCrossing seeks out, edits, approves, and tracks an elite collection of jobs on an ongoing basis,'' Barnes says. ''EmploymentCrossing is not for everyone — we are exclusive and private, and only members have access to our job-opening research.''

For more information on EmploymentCrossing, please visit www.employmentcrossing.com

Contact:
Mary Wilson, Editorial Coordinator
EmploymentCrossing
626-243-1821
mary@employmentcrossing.com

About EmploymentCrossing
EmploymentCrossing is a powerful and comprehensive organization dedicated to helping professionals find jobs that will enhance their careers. EmploymentCrossing consists of 90+ industry-specific job boards which consolidate every job opening they can find in one convenient location. The website also offers a seven-day free trial to new members.