MELVILLE, N.Y., Dec. 5 /PRNewswire/ -- The following is a statement by Tig Gilliam, CEO of Adecco Group North America, on November's Bureau of Labor Statistics jobs report, which was released today at 8:30 AM ET.
"While we've experienced heightened levels of uncertainty and volatility throughout 2008, one clear trend has unfortunately been the continued weakening of the U.S. job market. With unemployment reaching 6.7% and job losses totaling 533,000 in November, the jobs pendulum is continuing to swing in the wrong direction. Following this week's official declaration of a national recession, it is important to note the job losses in 2008 have been more gradual than during previous down cycles, indicating an underlying strength and stability in the job market being that we've actually been in the midst of a recession since December 2007.
It's important to keep in mind that there are signs of life in the midst of all of these developments. While the most recent manufacturing data shows a decline in domestic orders, the holiday weekend indicated stronger than expected consumer confidence, as retail sales beat early estimates. Further, while manufacturing, construction and financial services continue to be among the hardest hit portions of the job market, several professional skills categories continue to add thousands of jobs -- healthcare, education, IT and technical added a total of 56,100 jobs this month alone. We're also seeing this same trend at Adecco Group -- our Engineering & Technical division is currently recruiting to fill over 1,600 job openings and Ajilon Professional Staffing currently has over 2,000 open finance and accounting positions available right now.
This contrast is also evident when you take a closer look at regional statistics -- the most recent unemployment data coming out of Detroit indicated an 8.8% unemployment rate, while those sitting in Washington, D.C. are looking at a much brighter picture with a far lower rate of 4.1%. This disparity continues when we look at education levels with unemployment remaining steady at 3.1% -- less than half the national average -- for college educated workers.
With national attention now focused on preparing for 2009, especially the pending political transition of power, it will be imperative for our new executive and legislative branches to effectively work together to bring stability and economic prosperity back to the U.S. As the economy begins to turn and show signs of resilience, the job market will respond accordingly. Moving ahead, we look forward to seeing a policy focus on job growth, education, and employment regulation that makes for a competitive U.S. business environment in the increasingly global marketplace for talent and workforce solutions."
SOURCE Adecco Group North America
