OPINION: Job Growth Shows in Perry Hall, Too

Recently released national employment data shows that the U.S. economy recorded significant job growth, providing evidence that recovery appears to be talking hold.

Well, the numbers are in, and there is credible evidence of a measurable improvement in the American economy. Last Friday, the U.S. Department of Labor released its September 2012 "Employment Situation Report."  Statistics within the report indicated that employers added 114,000 jobs, resulting in a 0.3 percent drop in the overall unemployment rate. Now at 7.8 percent, the unemployment rate is lower than it has been since January 2009, which was about one year into the Great Recession. 

There are other numbers noted within the report that are worth highlighting:

  1. The number of unemployed persons, at 12.1 million, decreased by 456,000 in September.
  2. Total employment rose by 873,000 in September—the most since June 1983.
  3. In 2012, employment growth has averaged 146,000 jobs per month.
  4. Employment statistics for July and August 2012 were revised indicating that 86,000 more jobs were actually created than previous reported.

Specific industries were key drivers of these positive economic trends.  during the month of September. Over the past year, employment in health care has risen by 295,000.  Last month, there were 17,000 more transportation and warehousing jobs. Within the industry, there were job gains in transit and ground passenger transportation (+9,000) and in warehousing and storage (+4,000). Employment related to financial activities also edged up in September, with the addition of over 13,000 positions. 

We can see tangible examples of new jobs right in and around our homes here in Perry Hall. This past Friday, Boscov's Department Store reopened its White Marsh Mall location, after an absence of four years. This one store opening alone added 300 retail positions, which Boscov's started filling back in May 2012. Also last week, a new Salvo Auto Parts store opened in the Perry Hall Square Shopping Center. In addition, the new Giant in Perry Hall now employs a combination of over 200 full- and part-time employees. 

To be sure, we still have to make continued progress like this in order to get the nation's unemployment rate down to the 4.7 percent rate recorded in November 2007, immediately prior to the recession.  While everyone would have liked to see the economy in a more robust state some five years later, it is important to maintain realistic expectations. 

The American economy—and its ability to change over time—is much more like a supertanker than a speedboat.  In others words, systemic changes do take time to unfold.  The variety of initiatives that have been undertaken over the past four years (economic stimulus, investments in infrastructure, monetary policies meant to encourage business growth, etc.) appear to be giving corporations and small business owners the confidence to reinvest in themselves and hire new staff.

Retailers like Macy's and others are counting on this, as they are beefing up their staffs to support an expected brisk Christmas shopping season.  Let's all hope that these positive trends continue, and that American business keeps getting stronger.

Firpo October 09, 2012 at 05:15 PM
For the deluded who have been fooled into believing the politicians' and media's propaganda, just ask yourself a few basic questions. Are you and your loved ones better off now than you were 4 years ago? More equity in your home and more money in the bank? Less money spent on food and gasoline and electricity and water? More personal income and cost of living increases for grandma's social security check? Lower medical bills and no more need to use credit cards? Wall Street is kicking butt and how many of the billions in profits are you seeing? But why go on? Isn't it obvious what a wonderful recovery we are experiencing? Firpo
Tim October 09, 2012 at 05:25 PM
Right, so let's just give back to a guy who essentially wants to go back to implementing many of the key measures that got us into this epic recession to begin with, with the caveat of cutting some spending to go with it.
You October 09, 2012 at 05:40 PM
The unemployment rate dropped because of one serious variable not being discussed: 2.5 years ago an emergency unemployment extension was put into place for people who could not find a job after 6 months. The unemployment extension gave an extra 1 year of unemployment benefits funded by a given state backed by the feds. A state MUST impose this law (extension). Once a states unemployment rate drops below an adjusted rate set by many factors from the feds; the unemployment extension act can be eliminated by that state. In March 2012, Maryland fell under the national rate and Maryland instantly dropped 10Ks of people that were getting it. Hence, further pushing down Maryland unemployment rate (making it appear as though the state added jobs) NOT TRUE. In Maryland we now have 10Ks of people that are still unemployed and receiving no benefits at all and are unseen by the stats. This very example has happened with many states now the past few months. Hence, the National Unemployment rates fell. The reality IS there are millions unemployed people receiving zero benefits, so they are off the grid with regards to being truly counted. The unemployment issue in America is WAY WORST than it appears!
Steve October 09, 2012 at 10:07 PM
Actually Tim, You're wrong. Again. The catalyst that caused the recession we are in was the housing crash which occurred as a result of corrupt democrats from Carter up to Obama forcing lenders to make bad loans to people who didn't qualify. And also by democrats led by Barney Frank and Chris Dodd (who should be I jail for the illegal mortgage deals they got in return) who blocked attempts by Bush and his party to increase oversight of Fannie and Freddie. They said Fannie and Freddie were fine. Then Fannie and Freddie collapsed and brought down the whole economy
Steve October 09, 2012 at 10:12 PM
When the democrats took over Congress, the economy was fine. Unemployment was under 5%. We were coming off an all-time record of 53 months in a row of real job growth. Gas was 1.88/gallon. Every time Americans are stupid enough to put democrats in power they start with their overtaxation, over regulation, and overbearing government control and the economy dies. It has only gotten WAY worse under Obama and it is by design.


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