Bear Mountain Capital Inc.

Jobs Report – Bad? Good?

| October 8, 2010


At first glance, today’s jobs report looks bleak. In total 95,000 workers lost their jobs in September. Governments cut about 159,000 jobs. While businesses added 64,000 jobs. Netting out to the 95,000 job loss number. However, this means we are heading in the right direction, albeit slowly.

Less government jobs, means governments are cutting spending and trying to address looming deficits. More private jobs, means business activity is maintaining momentum and trying to take over the drivers seat in driving the economy forward.

Still the pace of jobs is painful. Its going to continue to be due to the fact that a structural unemployment issues persists in this country. In other words, the nature of the jobs that are available do not match the nature of the skill sets by those seeking work. The only way to cure this is through job training and further education of the work force, to bring their skill-levels to the level many employers are seeking.

(Click here to read Bloomberg article)