Unemployment Rates Will Test Professionals Everywhere
January 08, 2008
By the My MBA Career Content Team – Find Top MBA Degree Programs
Some economists are now predicting that the national unemployment rate could reach ten percent before improving.
This week, Bloomberg News cited an estimate from ADP Employer Services suggesting that 693,000 jobs were cut in December, as well as statistics from Challenger, Gray and Christmas showing that job cuts have increased 275 percent since last December.
On Friday, the Labor Department will release an eagerly anticipated report showing just how many jobs were actually lost in the final quarter of 2008. Bloomberg estimated that total nationwide job losses for 2008 will reach 2.4 million.
Looking ahead, the incoming Obama administration hopes to pass an economic stimulus plan in its early days that will create or save at least several million jobs.
Regardless of what happens in Washington however, professionals are finding it more important than ever to show innovation and increased effort when it comes to standing out in the job market.
For many, the increased competition for jobs has produced an upswing in interest in MBA programs nationwide. Along with offering increased potential for promotions and higher salaries, MBA students often find themselves involved in fascinating and diverse learning experiences.
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