January Records Worst Monthly Loss since 1974; EmploymentCrossing Accelerates Active Job Postings

February 09, 2009   |    PDF version

Pasadena, CA — The US unemployment rate has crossed 7.6% last month, the highest it’s been in nearly 34 years. The US economy lost 598,000 jobs in January, according to the US Bureau of Labor Statistics report for the month. Fortunately, EmploymentCrossing, one of the leading job boards in the world, was able to post over 200,000 jobs last week in US alone, a terrific effort indeed, considering the country’s current job market. The job site is now revving its own workforce to generate as many job postings as it can in order to relieve the unemployed of their present plight.

''The US job market is in complete shambles. Many people are coming to our door looking for help finding jobs,'' says Harrison Barnes, the CEO of EmploymentCrossing. ''Half of the 3.6 million jobs lost since December 2007, have been cut in the last three months itself. Recent economic conditions have deteriorated immensely, showing signs of a worsening recession.''

The report by US Bureau of Labor Statistics spells disaster in the job market. Job losses hit construction and manufacturing companies particularly hard. The manufacturing sector reported a loss of 207,000 jobs in January, which is the largest one-month decline since 1982. The construction industry shed 111,000 jobs last month; about 1 million construction jobs were eliminated in the past year itself. About 11.6 million US professionals in all were axed from their jobs in January.

President Barack Obama termed the job losses as ''devastating'' and stressed on the need for prompt action to stabilize the economy. He also stressed to the Congress to ''act fast'' on the $800 billion stimulus plan to get the economy moving again. Even private-sector analysts agreed on the dire need of some fast action to try to stop the continuous free fall of job prospects. According to an estimate provided by The White House, 286,000 jobs in Texas, 33,000 jobs in Utah, and 151,700 jobs in Pennsylvania are expected to be created with the help of the stimulus plan.

''The US is neck-deep into recession and we need strong measures to relieve unemployed job seekers from their present predicament,'' says Barnes. ''The projections of the real job market are indeed bad enough. But what really matters for the job seekers is to know where they should look for active jobs.''

''EmploymentCrossing scours over 250,000 employer sites and more than 8,000 job boards for high-paying, active job listings, and posts them in the site’s revolutionary job database. The jobs can be browsed and applied to, from EmploymentCrossing’s 100-plus industry-specific job boards.''

There are over 2 million job listings at present on EmploymentCrossing’s site, and the number of jobs is expected to receive a major boost in the coming days. For more information, log on to 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 100-plus 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.