“More pistons in the economic engine have begun to fire, pointing to accelerating economic growth. One of the happiest persons reading this job report is President Obama,” said Sung Won Sohn, an economics professor at California State University Channel Islands.
The recent employment gain in the United States is by far the largest gain since April and exceeded the predictions of many economists around the country. The jobless rate fell from 8.5% to 8.3%, creating almost 250,000 jobs around the country. This is an indication that recovery is probably on the way and that the country may make it out of this crisis in one piece.
As reported by Reuters, Stuart Hoffman, chief economist at PNC Financial Services in Pittsburgh, said the following on the positive news: “I think this is a sign that maybe the economy is reaching that holy grail of a self-sustaining economic expansion.”
A survey of households showed that unemployment still managed to decline while many new job seekers entered the market. Professional HR recruiter and employment expert Fredrich Lancaster has assisted companies in finding the best possible matches for their job openings.
Lancaster asks, “can the applicant complete the job, will they do the task well, and is this the best fit for your company?” It is vital that with the increase of applicants, employers are scrutinizing resumes to ensure they hire only the best possible candidates.
President Obama was pleased by the employment report, pushing Congress to extend the payroll tax cut, which is set to expire at the end of this month.
“Now is not the time for self-inflicted wounds to our economy. I want to send a clear message for Congress. Do not slow down the recovery that we are on, don’t muck it up,” said Obama at a firehouse in Arlington, Virginia.
Even some Republicans managed to admit the victory in all of this even as they also managed to shoot it down in the process. John Boehner, speaker of the House said, “Our economy still isn’t creating jobs the way it should be and that’s why we need a new approach,” admitting that the economy is at least starting to turn around.
For employers and potential employees, now is the time to start looking for a job. The economy seems at the moment to be on the upswing, and there isn’t time to sit on your hands and wait and see. There are jobs starting to appear out there, you just have to go out and get them.