Now that the US recovery is in full swing, many continue to asked "when will this newfound economic growth produce new jobs?"
This past week all eyes were on job numbers. And there were some encouraging signs.
First, Challenger, Gray & Christmas, Inc. announced on Wednesday that planned layoffs at U.S. firms fell for a third straight month in October to a 19-month low. Announced job cut rates are now at levels that are below average.
Then on Thursday Monster's employment index was reported to rise an additional point in October to 120 indicating an ongoing improvement in job demand. The Monster Employment Index is a comprehensive monthly analysis of U.S. online job demand.
And finally, initial jobless claims are clearly on the decline, down 20,000 in the Oct. 31 week to 512,000 (prior week revised 2,000 higher to 532,000). The four-week average is down for the ninth straight week, 3,000 lower at 523,750 for a 25,000 decrease from late September.
So just when will this strong recovery start producing new jobs?
The answer is likely found in the significant decline in the number of jobs lost since March. As can be seen from the linear trending in the chart below, if the current economic climate stays intact, it is quite likely that we will actually see job growth starting sometime in December.
When all you read is gloom, turn here for a much different perspective.