The Recovering 2012 Job Market [Infographic]

job market recovery 2012After years of cutbacks and layoffs, the nation's labor market finally appears to be on the mend. Latest monthly data from the Labor Department shows the unemployment rate inched down to 8.5 percent in December, though millions of Americans remain out of work.

Still, the report showed that job growth was widespread throughout the economy. Even the hard-hit construction sector, stung by the drop in demand for new homes, saw modest gains for the month.

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Adding to the momentum are fresh economic reports this week showing applications for unemployment benefits at a four-year low, business travel on the rise and tame inflation.

"We've had fundamental improvement in the labor market in the past few months," Ellen Zentner, a senior economist at Nomura Securities International Inc., told Bloomberg.

The boost in hiring bodes well for this year's batch of college graduates.

Employers recently surveyed by the National Association of Colleges and Employers say they plan to hire 10 percent more graduates this year than last, according to U.S. News & World Report. Recent college grads can also expect to earn higher salaries, too.

For more on the state of U.S. job market, including what college graduates can expect this spring, check out the infographic below from Course Hero, an Internet-based company that aims to help students learn more effectively.



Next: Weekly Unemployment Claims Drop To 352,000, Fewest Since 2008



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Filed under: Employment News

David Schepp

Staff Writer

David Schepp has spent more than a dozen years covering business news for the electronic and print media, including Dow Jones Newswires, BBC News, Gannett Co., and most recently at AOL's DailyFinance. Nearly 10 years ago, he started writing a weekly People@Work column, looking in depth at issues facing workers in today's workplace. The syndicated column appeared in newspapers and websites nationwide before it made its debut on DailyFinance in 2010. Schepp now continues that tradition at Aol Jobs, covering the jobs beat and providing readers insight and analysis into the nation's challenging employment scene.

Schepp holds a Bachelor of Arts degree in journalism from Metropolitan State College of Denver.

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toosmart4u

We must get rid of more republicans in this coming election. They are the ones holding up progress.

January 24 2012 at 3:44 PM Report abuse rate up rate down Reply
Iselin007

There is no realstate fraud to drive the markets this time a real Great Depression is here.

January 24 2012 at 2:00 PM Report abuse rate up rate down Reply
Iselin007

We need a jobs boom and less imported workers and greedy outsourcing.

January 24 2012 at 1:57 PM Report abuse rate up rate down Reply
Iselin007

The real work force is backing up growing faster than they can even recover jobs for the workforce that lost jobs ontop of the unemployed curently counted. They carry too many unemployed from previous years like it was normal !

January 24 2012 at 1:56 PM Report abuse rate up rate down Reply
Iselin007

You ship out 80,000 good jobs your lucky if you get 20,000 back for exports.

January 24 2012 at 1:52 PM Report abuse +1 rate up rate down Reply
Iselin007

NJ gave funds to local government which used it to hire 2400 state workers while private sector jobs were lost by 2000. Neat little trick dropped .1% off the unemployment rate. Unemployment has been even worse for the 2 years under the current governor. Fat pensions and large salaries cause high taxes that drive out manufacturing and other jobs Trade deals and visa workers kill jobs. Export job creation causes more job losses than it creates because the lost jobs are 4 to 5 times as large a number.

January 24 2012 at 1:50 PM Report abuse +2 rate up rate down Reply
Iselin007

The various states will give out funds to municipalities so they can hire back gov workers which drops the unemployment rate when private companies aren't hiring making it a political butt saving life preserver!

January 24 2012 at 1:42 PM Report abuse +1 rate up rate down Reply
Iselin007

When numbers keep changing drastically to air brush records there is a rotten fish in Denmark.

January 24 2012 at 1:36 PM Report abuse +1 rate up rate down Reply
Iselin007

The BLS and States constanty revise employed, unemployed, and workforce numbers etc or manipulate them to save their political butts for election purposes.

January 24 2012 at 1:35 PM Report abuse +1 rate up rate down Reply
skylud

The company I work said last week that they are planning on making more this year but except work to increase and no new jobs added. But then we are also looking a layoff when new computer system is totally up and running which will take away a bunch of jobs.

January 24 2012 at 7:02 AM Report abuse -1 rate up rate down Reply

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