Job Seeker Sentiment at Lowest Point This Year
On the eve of the official unemployment report for August, Vault’s job seeker sentiment index suggests that there’s not too much to be hopeful about: the percentage of respondents suggesting that the job market has improved is lower than it’s ever been. Worse, almost a quarter of those who responded to our homepage poll report that conditions have worsened in the last 3 months—the most dismal response so far this year, and almost back to the levels seen in November 2009, when the economy was still technically in recession.
Making matters worse is the fact that many of the jobs that are being created pay substantially less than those that were eliminated from the economy. On top of that, some analysts also believe that uncertainty over regulatory issues is restricting hiring, and that no significant upturn is likely until after the November mid-terms.
The one consolation from this month’s sentiment poll is that a majority of people think things are either holding steady or improving with regard to hiring. But with unemployment still above 9 percent, and more people than ever before reporting that things are “about the same,” that’s scant consolation indeed.