Myvisajobs.com
Immigration Blog

Americans collecting unemployment checks lowest in 16 years

By Bill at May 07, 2016 00:19
Filed Under: Immigration News

The number of Americans collecting unemployment benefits fell in late April to a nearly 16-year bottom, while initial jobless claims have been below 300,000 for 61st straight week. 

Some 2.12 million people collected weekly unemployment benefits in late April, tumbled 82% after hitting a record 11.6 million in early 2010, when the U.S. was in the early stages of a recovery following the Great Recession. 

The last time fewer Americans were collecting unemployment checks was in November 2000, shortly before President Bill Clinton exited the White House. 

Initial jobless claims, meanwhile, climbed by 17,000 to a five-week high of 274,000 in the last week of April. Despite the increase, new claims have been below the key 300,000 mark for 61 straight months, the longest stretch since the waning stages of the Vietnam War. 

The economy has created an average of more than 200,000 jobs a month since 2014, knocking the unemployment rate down to 5%. Low jobless claims have contributed to marked improvement in the labor market over the past several years. The unemployment rate falls more quickly when hiring is strong and fewer people are being laid off. 

The U.S. job market is pretty strong now, and the employers are desperately looking for skilled foreign workers. It is time for you to update your career profile and pitch potential employers now!

US recovered all jobs lost in recession!

By Bill at June 11, 2014 00:39
Filed Under:

WASHINGTON - For the first time since 1999, American employers have added more than 200,000 jobs a month for four straight months, offering more evidence that the U.S. economy is steadily growing while much of Europe and Asia struggle. 

Last month's gain of 217,000 jobs means the economy has finally recovered all the jobs lost to the Great Recession. The unemployment rate, which is derived from a separate survey, matched April's 6.3 per cent, the lowest in more than five years. 

The unempolyment rates for professionals, which are qualified for H1B visa, are more promising. The United States defines full employment unemployment rate as 4% for persons aged 16 and over. 

Occupation Unemployment Rate
(May 2014)
Management 3.0%
Business and financial operations 4.1%
Computer and mathematical 2.6%
Architecture and engineering 2.9%
Life, physical, and social science 4.7%
Community and social service 1.8%
Legal 3.3%
Education, training, and library 3.0%
Arts, design, entertainment, sports, and media 6.5% 
Healthcare practitioner and technical 1.8%


U.S. economy is recovering, U.S. employers are desperately looking for skilled foreign workers. It is time for you to update your career profile and pitch potential employers now!

Autumn is the best season for hiring and job search

By Bill at September 18, 2013 16:29
Filed Under: Tips and Features

In United States, the busiest hiring season is the autumn(Labor Day through Thanksgiving). It is very important that you update your career profile, resume and cover letters now

In September, decision makers are back from summer vacation. Hiring managers push for an increase to take advantage of remaining budget for the year. If they don't hire before January, they might lose the allocated funds for new employees. 

The worst season for hiring and job hunting are the holiday season(Thanksgiving through New Year's) and summertime (Memorial Day through mid-August). So the employers also want to get new recruits in before December. 

The U.S. unemployment rate dropped to 7.3% in August(about 2.5% for IT professionals). Please take following steps to make yourself stand out in the job market!

  1. Conduct a self-assessment to determine skills and talents, then update your career profile.
  2. Use real time H1B database to conduct market research, and identify employers in need of your skills and talents.
  3. Craft an industry-specific resume and cover letter, and upload them to job candidate database.
  4. Utilize Resume Blasting Service and Smart Apply Service to pitch large number of employers.
  5. Negotiate and evaluate job offers by researching how similar H1B jobs are paid.

Tech Job Growth Seen in First Half of 2010

By Bill at September 15, 2010 21:40
Filed Under: Immigration News

Report: Tech Job Growth Seen in First Half of 2010

 

TechAmerica, a nonprofit advocacy group, released an employment report (PDF) today showing an increase in tech-related job hiring for the first half of 2010.

Based on numbers from the U.S. Bureau of Labor Statistics, the report found that three of four tech-related industries experienced a spike in new hires. The study focused on the time period between January and June of 2010, finding that the overall tech industry added 30,200 jobs -- an increase of 0.5 percent for the entire market.


Compared with last year's data, the increase is good news. In the same period in 2009, there were 143,000 tech jobs lost, or 2.4 percent of overall tech jobs. However, the jury is still out on whether the new number represents an upward trend.

"Though the tech industry was among the last to feel the effects of the economic downturn of 2008-2009, it was not immune to job loss and is only slowly showing signs of climbing out of it," said Josh James, vice president for research and industry analysis at TechAmerica Foundation, in a press release. "Tech employment as of June 2010 stood at 5.78 million, compared to 5.99 million in January 2009. So there is still a way to go before we've made up for lost jobs, and continued recovery is by no means certain."

The software service sector accounted for 14,200 new jobs. High-tech manufacturing contributed 9,100 new jobs. The engineering and tech services sector increased the count with 29,700 new jobs. The only tech sector with numbers that took a dive was the communications services industry, which had a net loss of 22,800 jobs from the first half of 2010.

After January, 44,800 jobs ended because they were part-time or holiday-based jobs. The June increase in jobs was attributed to youth leaving school and able to work part time.

While the job market growth in the first half of 2010 was a positive finding, the employment situation looks differently from a year-over-year comparison. The report found that 72,800 tech-related jobs, or 1.2 percent of the overall workforce, were lost between June 2009 and June 2010.

TechAmerica's report advocated ways to make the short-term jobs growth found in the first half of 2010 become a more permanent trend. The advocacy group said that there needs to be a "continued revitalization of federally funded research." This, coupled with a permanent tax credit for research and development, would aid every sector in the tech industry, according to the group's announcement.

Job Market Recovery is Stronger than Many Think!

By Bill at September 13, 2010 16:42
Filed Under:

Job Market Recovery is Stronger Than Many Think

by John Challenger

As they celebrate Labor Day, many Americans are growing impatient for signs of a job-market recovery. While many are frustrated with the pace of job creation, a new analysis reveals that the job market is well on the road to recovery and that it is rebounding sooner and faster compared to the previous two recessions.

In our annual Labor Day review, my company sees positive trends in a number of employment indicators, including the pace of layoffs, job creation and the unemployment rate. However, they are shrouded by the fact that the economy began its recovery in a much deeper hole than usual; the deepest since the Great Depression.

By most accounts, we are barely a year into the recovery. At this point in the previous two recoveries – following the 1991 and 2001 recessions – the job market was actually getting worse. Today, though, many people are so caught up looking at the weekly and monthly numbers that they fail to look at the bigger trends, which are all positive.

There is no doubt that the job market has a long way to go before it fully recovers. After all, this is the worst recession this country has experienced in 75 years, with unemployment climbing to 10.1 percent as the number of jobless Americans grew by more than 8.3 million, reaching a record high of 15.6 million. It doesn’t take an economist or jobs expert to recognize that it is going to take longer to get all of those people back onto payrolls.

However, the statistics indicate that the job market has made great strides over the last 12 months and appears to rebounding sooner than the previous two recessions. The latest data from the Bureau of Labor Statistics show hiring is up 10 percent from a year ago, while the number of job openings has increased by over 400,000.

Layoffs Have Fallen to Pre-2001 Lows

Evidence of improved job stability and security can be seen in planned job-cut announcements, which have shown a dramatic decline. The pace of downsizing began to plummet in the second half of 2009, with total job cuts dropping 56 percent from the previous six months. The number of planned layoffs fell another 24 percent in the first half of 2010. In fact, monthly job cuts have numbered fewer than 100,000 for 14 consecutive months, a streak that has not been achieved since 1999-2000.

Payrolls Growing Faster Than Expected

While announced job cuts have declined dramatically over the last 12 months, many complain that employers have been slow to hire. Indeed, after the estimated end of the recession in June of 2009, payrolls continued to experience net losses totaling nearly 1.1 million between July and December. However, those losses turned to gains as of January 2010, with payrolls experiencing five consecutive months of net growth that saw more than one million new jobs added to the economy.

Those gains may appear relatively anemic and will indeed need to be much stronger to begin making a dent in the high number of unemployed. However, while the payroll gains remain weak, they are occurring much sooner than previously. Following the end of the 2001 recession, it took 21 months before the economy began to add jobs on a consistent basis.

When steady job gains did occur, they were far from robust. The first five months of consistent job gains, which did not begin until Sept 2004, saw average net payroll gains of 120,000 new jobs per month. In contrast, the five consecutive months of job gains that ended in May reached an average of 201,000 new jobs each month.

Unemployment Declining Sooner

Like payrolls, the unemployment rate is beginning to improve sooner in the wake of this recession. Following the end of the 2001 recession, the jobless rate stood at 5.5 percent. It continued to climb for 19 months, peaking at 6.3 percent in June 2003. Following the nine-month downturn that ended in March 1991, unemployment continued to increase from a recession-ending 6.8 percent to a peak of 7.8 percent in June 1992, 15 months later.

At the presumed end of this recession in June 2009, joblessness stood at 9.5 percent. It increased in the months that followed, however, instead of increasing for 15 months or more, it appears to have peaked at 10.1 percent in October 2009, just four months after the end of the recession. As of July, the unemployment rate had fallen to 9.5 percent.

While joblessness remains historically high, and the decline is not occurring fast enough for most, it definitely appears to be heading in the right direction. If the economy were following the same pattern as recessions of the early 1990s or 2001, we would be facing another three to six months of rising unemployment.

Additional evidence of a turnaround can be seen in the number of Americans working part time for economic reasons, which has fallen from a peak of nearly 9.2 million last October to just under 8.4 million in July. Furthermore, the median duration of unemployment stood at 22.2 weeks in July, which was down from 25.2 weeks a month earlier. That decline may not seem significant on the surface, but it represents the largest one-month decline in the median duration of unemployment ever recorded.

When you look at any of the employment statistics on a month-to-month or week-to-week basis, there are going to be ups and downs; particularly at this stage of the recovery. However, when you look at the overall trend since June 2009, everything is headed in a positive direction. So why are people so pessimistic?

Consumers, business owners, hiring managers and politicians tend to be overly optimistic at the beginning of a recession and overly pessimistic at the beginning of a recovery. Making matters worse is that, with the mid-term elections just two months away, both parties have a vested interest in talking down the economy. Democrats want to set the bar low so they can show improvement; Republicans want things to look as bad as possible so they can take back some of the congressional seats they lost in 2008.

Obviously, for millions of Americans still out of work, the improvements are not coming fast enough. However, we must remember that the economy is digging itself out of the deepest hole this generation of workers has ever experienced. The recovery is not going to occur overnight and not without hitting some bumps in the road.

Category list

Tag cloud