Hiring Healthy, Even During Downturn

Dire employment figures disguise huge amount of vacancies opening up

By Rob Quinn, Newser Staff

Posted May 6, 2009 7:52 AM CDT

(Newser) – Grim unemployment figures are disguising the fact that hiring has stayed surprisingly strong in the midst of the worst postwar recession, economists tell the New York Times. In February—long before any hint of recovery emerged—4.8 million workers lost their jobs, but 4.3 million people were hired, figures one expert says points at the essential "dynamism of the US economy."

More than four people remain out of work for every new job that opens up, but even companies with hiring freezes must fill new vacancies to keep head count constant. Firms that are expanding can afford to be picky. "What you have to be afraid of is hiring someone who can’t find something better at the time," says a grocery-chain exec. "I want to hire someone who will make a career of it."

[Images (2)]

[Quotes (2)]

Hundreds job applicants stand in line in Hanahan, SC, as they wait to get into a job fair last month. (AP Photo/ The Post and Courier, Alan Hawes, file)

A customer enters a Sears Hardware store that is advertising jobs in Bainbridge, Ohio last week. (AP Photo/Amy Sancetta)

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Ninety out of 100 people who know the number—650,000 were lost in February—think that means no one was hired and 650,000 were fired.
- Robert J. Barbera, chief economist at ITG, a research and trading firm

You’re facing more competition for every job you apply for, but the reality is there is a lot of hiring going on, You’re never going to find anything unless you apply. - Andrew M. Sum, director of Northeast University's Center for Labor Market Studies

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Hiring Healthy, Even During Downturn