Positive Increases in 3rd Quarter Market Trends

Positivity seems to be an increasing trend in the economy as of late. News channels seem to be airing fewer stories about the downturn, and the job market seems to be slowly but surely leveling out.

According to a recent Labor Market Outlook study done by SHRM, employers are even becoming more confident about the job market. According to the survey, 56% of participants reported “some level of confidence in the U.S. job market” (LMO Q3 2010, pg 1).

Furthermore, as shown in SHRM’s latest LINE Report (Leading Indicators of National Employment), more employers are looking at taking on more employees and making fewer layoffs. The report also shows new hire compensation in the manufacturing and service industry growing, an indicator that the market is turning around.

With statistics like these, it’s hard not to be positive. Staff levels within companies are, for the majority, staying solid or taking on new people, rather than making layoffs- only 15% were making layoffs in the third quarter, as opposed to 22% this time last year. With any luck, the positive trends will continue to increase and both employers and job seekers can hope for a better job market to search.

**Image source: SHRM Labor Market Outlook Survey, Q3 2010

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