29 April 2011
Is the United States now in a much better place? If you’re going to believe the dip in the unemployment claims for the past months, we can say we are almost there.
Though not all states are bearers of the good news, majority of them are. Statistics revealed a significant drop of unemployment rate in several states, especially those that have been hit hard during the recession.
One of the biggest gainers is Texas, which is now experiencing massive growth in many industry sectors, including hospitality, logging and mining, and business and professional services. According to labor commissioner Ronny Congleton, the main cause of such dramatic increase is the diversity of its labor workforce. Nevertheless, he also believed that this is not enough to breathe a sigh of relief. After all, the ultimate goal is to have a job for anyone who wants one.
The State of Kentucky has posted an increase of close to 12,000 new jobs since March of last year, majority of which came from recreation, accommodation and food, arts and entertainment, and drinking places (yes, bars and clubs). Simply put, more tourists have found their way to the Bluegrass State. But it’s not only their hospitality industry that is starting to grow.
In March 2011, the transportation sector welcomed an additional 2,100 workers into its fold. The areas of retail, wholesale trade, construction, and warehousing also registered an increase in employment.
Though Minnesota falls short when compared to the 1 percent national rate — it only has a 0.8 percent growth over the previous year—it’s still a welcome change. One sector that is booming is hospitality and leisure. It might lift up other people’s spirits to know that the layoff rate is one of the lowest for the past 16 years, and consultancy and recruitment groups have experienced a considerable number of ad placements for the past few months.
Even if everyone is already in the dot-com bubble and thousands are willing to spend money on every new electronic in the market, Silicon Valley (the land of Google, eBay, Cisco, and Apple), wasn’t completely immune to the recession. Hundreds of software developers, webmasters, and web designers, among others, found themselves included in the list of laid-off employees.
Though growth is slow, it looks like almost all the sectors, especially the IT industry, are recovering in this part of San Francisco Bay Area.
The job growth rate, however, is just a part of the entire economic recovery process. It’s also essential that there should also be an increase in consumer spending. This is how everyone can help in the development of the economy.
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