Recession is causing competition in the Job Market

The economic recession has been causing stress for everyone with layoffs, company closures, and cutbacks occurring throughout America. With unemployment sitting at 9.7 percent and even with layoffs slowing, there has been quite a pinch on the job searching front.

According to the New York Times, job seekers are exceeding new job openings in record numbers. Job seekers are outnumbering job openings, causing more competition and added stress. “According to the Labor Department’s latest numbers, from July, only 2.4 million full-time permanent jobs were open, with 14.5 million people officially unemployed.”

Adding to the stress, many employers are reluctant to hire due to the uncertainty of whether or not the economy will improve in the near future. If things look bleak now, predictions are that the current economic situation could become more gloomier, thus resulting in more layoffs, business closures, etc. The competition will only continue to grow.