September 3, 2010

Where the Jobs Are, and Where They'll Be Next

Nin-Hai Tseng, Fortune

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FORTUNE -- U.S. companies modestly added jobs in August, easing concerns that the nation might slip back into a recession. The latest jobs report released by the Labor Department today is better than expected. Employment in the private sector rose by 67,000 payrolls, after a revised 107,000 increase in July that was more than originally estimated. The report immediately sent stocks rallying, despite the fact that overall employment dropped and the unemployment rate climbed to 9.6% from 9.5%, as more people actively searched for jobs.

The report brings some relief, but it will certainly take a while before unemployment falls to pre-recession levels. Adecco (AHEXY), the world's largest temporary employment company by sales, knows all too well the rough road workers have traveled...

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TAGGED: unemployment, Nin-Hai Tseng

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