With an improving economy and recovery momentum maintained, stock markets touching new heights, conditions in the US labor market have continued to improve over the first half of 2013
July 22, 2013 (Newswire) - With an improving economy and recovery momentum maintained, stock markets touching new heights, conditions in the US labor market have continued to improve over the first half of 2013.Over the past few years, unemployment rates were touching almost 10% and with the economic recovery the jobs picture continues to demonstrate modest positive upward trends, with claims for unemployment benefits continuous lowering, helped the unemployment rate become lower than where we were a year ago.
In the IT industry segments analysis of all IT jobs that were opened during the first half of 2013 with a sharp increase in skills that required new implementations, cloud based computing, business analysts and experts in Data Warehousing, ERP implementation, Java, J2EE, SAP and mobile application. The major development in this half was the need for cloud computing professionals.
Federal reserve expansionary approach helped keep green shoots emerging across several key sectors of the economy. Housing prices, durable goods and ever increasing customer confidence helped the economy to get back on track. GDP grew by 2.4% annually in the first quarter and layoffs were almost 339,000 .
The unemployment rate remained steady at 7.5% in the second Quarter which came from, 8.1% earlier in the year. Inflation at around only 1% annually. For Quarter 2 2013, employers have a positive Outlook in all 13 industry sectors included in the survey: Leisure & Hospitality (+24%), Professional & Business Services (+18%), Wholesale & Retail Trade (+15%), Mining (+14%), Nondurable Goods Manufacturing (+14%), Transportation & Utilities (+14%), Information (+13%), Durable Goods Manufacturing (+12%), Financial Activities (+11%), Construction (+10%), Other Services (+9%), Education & Health Services (+7%) and Government (+7%)
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