With the election now behind us, it is time to do stock of job trends. As our research already showed, the job market is expected to stay stagnant till the New Year. The BLS unemployment numbers for October continue unchanged at 7.9%, also reflect the same. First it was elections for the White House and now the holiday season and winter. While the holiday season means that temporary jobs will be in demand and may dominate the seasonal job market, after accounting for seasonal jobs too the market shows a slight uptrend. The long-term direction of the market is likely to become clearer with some new direction to policy in coming weeks.
Hurricane Sandy may have also caused turbulence in job search trends as seen in the graph attached but impact is likely to be compensated in short term itself.
While BLS unemployment data released for October showed an increase of 171,000 in new job seekers entering the non-farm employment pool, there is also an increase in job positions posted on job portals. Another positive has been the relative stagnation in temporary help services numbers indicating that most of the growth has been in permanent employment.