Job Market Slightly Better Past Seven Days
The newest job market numbers are out, and they’re trending in a positive direction. The job market in the Capital Region paralleled the national one as it rebounded a bit after an off week. Next-Act of Colonie's Dan Moran sees the numbers reflecting continued strength and employer confidence. “ We had a couple of good weeks of run-up. We had kind of a flat week, now we're coming back up a little higher again. It's showing a new confidence in the employment market, and that's a good thing.”
Job postings in the Capital Region stand at 1,850, up from 1,775 the week prior. Other markets in the state posted mixed results, especially in metro New York City, where the market dropped significantly. The Capital Region continued to outpace Buffalo, Rochester and Syracuse for jobs.
But there's one development Moran is watching: “If there is one concern I have, the financial markets, if they continue to be in turmoil that will have a negative effect on the job market on a longer term basis. Employers get skittish when they see that the markets are unsteady.”
Nationally, the market was flat, up very slightly from the week before. Postings were 599,000 up from 593,000 the week before.
Paul Ellis Graham is president of the Hudson Valley Area Labor Federation, which represents more than 100,000 workers in seven counties. He's hoping the U.S. Senate will soon restore extended unemployment insurance benefits to chronically unemployed Americans. "Many of those folks are over 55, and these are people that will have a very difficult time, given their work experience, finding new employment. So it's really important that we put a priority on helping those need it so that they can be able to at least get some temporary assistance, so that they can go back."
Labor department figures show approximately 1.7 million jobless Americans and their families have been cut off from the extra income provided by the federal government once their state benefits run out.
Moran says the next key employment indicator comes Friday morning with the release of the national January jobs report.