Falling unemployment rate, climbing work hours lead to signs of life in economy
Monday, March 12, 2012
A recent report from Express Employment Professionals reveals that a dropping jobless rate, coupled with increasing work hours, is contributing to a strengthening U.S. labor market.
The report cited data from the Economic Policy Institute, indicating the average number of hours worked per week increased to 34.5 in December 2011, up from 33.8 hours in March 2009 and closer to the pre-recession average of 34.6.
"February's positive jobs report shows that employers are increasingly confident that the economic recovery is gaining traction," said Robert Funk, Express Employment Professionals CEO and chairman of the board. "Because businesses have already restored the hours of existing workers, they are more likely to add new workers to meet additional demand. However, many employers remain wary of adding full-time headcount and are turning to temporary staffing companies to give them the option of growth without the risk and expense."
The economic recovery continues to take shape and is different on a state-by-state basis. Data analysis from the Labor Department conducted by Bloomberg reveals that California, Florida, Arizona and Nevada - the states that were affected most by the real estate collapse of the past few years - are now leading the country in labor market expansion.
Consumers who are reaping the benefits of a recovering economy and job market may want to make their newfound assets work for them by exploring low cost trade opportunities in the U.S. stock market.
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