How Bad Is The Job Market?

august jobs report

There's just no getting around the bad news: August was a disappointing month for job seekers. The Labor Department reported that fewer than 100,000 jobs were created during the month, frustrating many job seekers who are worried that it may take even longer to find work.

But it may not be all doom and gloom. A survey released Thursday by the Society for Human Resource Management suggests that hiring this month may improve. SHRM is forecasting "modest hiring gains" in September, based on the responses it received from 1,000 service-sector companies and manufacturers.

Highlights from SHRM's report show:

  • In the manufacturing sector, 49.2 percent of hiring managers said that their employers plan to hire workers while 8.4 percent will cut jobs.
  • In the service sector, 31.8 percent of companies expect to hire, while 7 percent will trim payrolls.

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Though the report shows a positive trend, SHRM cautioned that the labor market still has "a way to go before a long-term pattern of strong, monthly hiring increases is reality."

Further, last month's loss in manufacturing jobs is worrying Peter Cappelli, director of the Wharton School's Center for Human Resources. Once the bright spot in the nation's economic recovery, manufacturers cut 15,000 jobs last month, the first decline since last September.

"[Manufacturing] is where we were hoping there would be robust improvement," Cappelli said, citing demand spurred by the weak dollar, which makes U.S. goods cheaper overseas.

Though August's numbers were "surprisingly negative," Cappelli agrees that last month's weak hiring may indeed result in a pick up in hiring in September "now that we're sort of more into the traditional part of the hiring cycle."

For anxious job seekers, Cappelli offers these bits of advice:

  • Keep your chin up: If you didn't get a job in August, it's probably not your fault, since it appears employers really weren't hiring much anyway.
  • Double down on your search: Reduced hiring last month suggests that many employers may have pushed their hiring plans into September. So, don't give up. Freshen up your resume and keep applying.

Unemployed workers looking for more evidence of a pickup in hiring this month might take some inspiration from The Hired Guns, a New York City-based employment agency focused on the high tech and creative fields.

Via Twitter on Friday, the firm said that it expects hiring in September "will be strong based on the brisk biz we've been seeing."

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I think I have finally found someone I can sell the Brooklyn Bridge to.

September 09 2012 at 9:06 PM Report abuse rate up rate down Reply
Bob Alexander

There are millions of jobs waiting to be filled by qualified individuals. Millions more could be available if the Republican Congress would get off their behinds and support a job bill. Even one of their own making, but no they have to vote against jobs for four years but promise they will vote for jobs after they are elected in 2012.. They have the cart before the horse, past performance should say more than campaign words. People like Romney invaded struggling US companies, saddled them with debt while taking out millions of dollars to hide in accounts in the Cayman Islands and Switzerland, declaring them bankrupt, investing millions out of the country and taking a legal tax break by paying taxes to foreign countries instead of the USA. Is this a qualified Presidential Candidate? Maybe in the Cayman Islands.

September 09 2012 at 7:51 AM Report abuse +1 rate up rate down Reply

One thing that no one, and I mean no one seems to want to discuss is the fact that the very companies who let hundreds of thousands of go over the past decade (we heard about 10,000 here and 10,000 there on a daily basis) are the very large companies who found that they could 1) obtain higher production from their workers at less money for less workers; 2) that their CEO bonuses, were paid were based on how many workers they got rid of; and most important, 3) that many of these companies are Republican-oriented, and will not do any hiring until after the election, so as not to make President look good in any shape or form, no matter how bad it is for the country's economy. They reap the benefits in many ways. Then, it is their hope, when Romney is elected, and favors them with tax breaks and deregulation, they will start hiring, which will make Romney look good. Why doesn't anyone ever speak or write of this?

September 09 2012 at 1:08 AM Report abuse rate up rate down Reply
1 reply to judithakramer's comment

jUDY jUDY jUDY, What is a republican oriented company, and is there no length's you liberals won't go to make excuses for this failed president. Grow up and face facts, Obama is not qualified to run anything larger that a sandwich shop and needs to go back to Chicago. The presidency is not a social experiment, it is a job that only those qualified to do the job should enter. Four years and things are worse than before. Obama is not a capitalist, he is a socialist in a capitalist society. A socialist would be better suited to work in a welfare office which is where we will all be applying for benefits if he gets four more years. T he experiment is over, it didn't work out. Now it's time to get back to reality and vote in Romney/Ryan. Two men capable of running this country properly.

September 09 2012 at 2:33 AM Report abuse +2 rate up rate down Reply
2 replies to Richard's comment

I really can't stop laughing at you, what a naive R&R fan.

September 14 2012 at 10:33 PM Report abuse rate up rate down


September 19 2012 at 2:57 PM Report abuse rate up rate down

This story like so any others has the best spin possible, truth be told the unemplyment numbers are way over 15% and the govt has been cooking the statisical books since our beloved new savior took office . I am one of the millions of unemployed , three college degrees , one adavance , thirty years soild experience , 1239 resumes sent...Result (3) interviews , PS I didn't get the job. I wonder how much more we unemployed will be asked to wait and hope and just keep believing in the smoke and mirrors of the current administration. We are forgotten and there is no hope for us.

September 09 2012 at 12:00 AM Report abuse +1 rate up rate down Reply
2 replies to hrhjonii's comment

So, in good old days under GW, the government was equal to honesty, integrity and transparency, since Jan 20, 2009, the government is cooking the books.
The problem is that americans are just so poorly educated that they can not fill all the 21st century jobs, period.

September 14 2012 at 10:34 PM Report abuse rate up rate down Reply

if you sent you resume to Obama, blame him that he did not hire you, otherwise you needs to think about the target companies.

September 14 2012 at 10:35 PM Report abuse rate up rate down Reply
joseph and margo

For Obama, this translates as success. And he will convince the masses that failure is good a good thing.
If unemployment is at 8.1% now, give him 4 more years, and his success will be 16.2%. A remarkable achievement.

September 08 2012 at 11:36 PM Report abuse +2 rate up rate down Reply

First off report on the real unemployment rate 21 %

September 08 2012 at 11:27 PM Report abuse +2 rate up rate down Reply
1 reply to hdevo's comment

I heard Dick Morris said the real unemployment rate is 112 % and I believe him, he is a man of integrity.

September 14 2012 at 10:37 PM Report abuse +1 rate up rate down Reply

And they MAY find a way to turn stone to gold, OR they find diamonds in bananas too.

September 08 2012 at 11:06 PM Report abuse +1 rate up rate down Reply

Another omission in the figures is the unemployed high school college kids who are omitted in the count. Why? Since they haven't worked before (for the most part), they can't apply for unemployment benefits, thereby keeping the number shown as "unemployed" lower than that it really is.

I'm sure Obama and his whiz-bang staff don't have a clue what this means...

September 08 2012 at 10:46 PM Report abuse rate up rate down Reply
1 reply to billatlan's comment

Since when are the high school kids supposed to work during the school year, thsi is not China. And also girls of age 10-14 are not counted in. They don't get much babysitting work anymore

September 14 2012 at 10:38 PM Report abuse rate up rate down Reply

Jobs ? We don't need another four years like the last four. It's time for Øbama to start looking for a job. Then he will have some idea of how the rest of us live.

September 08 2012 at 7:30 PM Report abuse +2 rate up rate down Reply

No one is surprised the lame street media is trying to make goood news out of bad news. They insult the intelligence of all normal america and thank God polls are showing they pay no attention to them anymore!!!!!

September 08 2012 at 7:13 PM Report abuse +1 rate up rate down Reply

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