10 July 2008

Amid Job Losses, All Isn’t Lost

How the rising unemployment rate is hitting two key sectors and what industry experts and a preeminent economist say will happen next

by Jennifer Robison
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“The unemployment rate shot up by half a percentage point in May, the biggest single-month increase in over twenty years,” notes Princeton economist Alan Krueger. The job cuts have hit the retail and financial services sectors particularly hard, and they illustrate problems in the economy in general. But they also point to opportunities for forward-thinking business leaders.
Jennifer Robison is a Senior Editor for the Gallup Management Journal.
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Reader Comments
Gregory Starr Posted On 8/21/2008 12:51:48 AM

Thank you for the enlightening article. The effects seem to be showing up in my neighborhood with more houses for sale. Thank you for the bright side where you call attention to the well qualified person with transferable skills finding jobs but having to make sacrifices. On the bright side but delayed a bit will be an adjustment in consumption. People won't be moving into larger houses but they may be renovating or remodeling the house they are in. There will be more young adults moving back into their family homes but they are frequently going to school to find job that will accommodate this shift in demands.

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See also
Net New Hiring Activity Suggests U.S. Lost Jobs in May
What’s Next for Banks?
Is the U.S. in a Recession?
Start Finding Tomorrow's Leaders Now
Driving Organic Growth in Retail

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