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Friday, May 7, 2010

Best Time to Find a Job in More Than a Year

Friday's government job report confirms what Gallup has been reporting all week -- this is the best time to look for a job since late 2008. On Tuesday, Gallup reported a decline of more than 2 million in the number of "underemployed," and on Thursday Gallup reported the best job creation since November 2008.


Friday morning the government reported that business payrolls jumped the most in four years in April -- 231,000 new private sector jobs. In fact, the government's household survey shows even more Americans -- over 500,000 -- saying they got jobs in April than was reported in its survey of business payrolls.

While the unemployment rate increased from 9.7% to 9.9%, that was not totally unexpected. The seasonal adjustments the government uses tends to hold down the positive effect of job increases on the unemployment rate at this time of year. Many additional job seekers entered the workforce in April and that had a similar impact on the unemployment rate. Further, Gallup's underemployment data is broader and more up-to-date than that included in the government report.

Regardless, every one of the more than 28 million Americans currently underemployed should be encouraged by both the Gallup and the government job reports. Companies are hiring now -- providing the best time to find a job in more than a year.

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