The U.S. added 157,000 payroll positions in January according to The New York Times. Such job growth, however, did not result in a lower unemployment rate. On the contrary, the unemployment rate rose to 7.9% for the month. What is going on? There must be more than one reason behind that. One could be employers now require existing employees to take over some of the responsibilities for the vacant positions until they are filled. When employers are not filling the vacant positions, the increased number of payroll positions does not help lower the unemployment rate. Another possible reason is that fewer employers are willing to invest in candidates with less experience but great potential. Companies prefer to hire candidates who are ready to plug in and perform the job immediately --- usually those holding a similar position in a competitive firm. By doing so, companies can save a good amount of training and development cost. Therefore, it may seem everyone is “hiring,” but th...
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