Job numbers, top-company plans suggest hope for job outlook 
Sometimes a small change can mean big change for the employment market. That’s what analysts are saying about the January unemployment numbers released last Friday by the Department of Labor.
Is the news all good for jobseekers? No, but it’s much better than anyone expected. Consider this: After losing 150,000 jobs in December, the U.S. economy lost only 20,000 jobs last month, a small statistical change that could signal much bigger things—most notably, that after a string of brutal jobs reports, the worst may be over. After revising its numbers from the end of last year, the Labor Department determined that unemployment fell to 9.7 percent last month from 10 percent.
Job-market watchers have jumped all over the unexpected good news. On the White House blog, Council of Economic Advisers chair Christina Romer wrote that “while unemployment remains a severe problem, today’s employment report contains encouraging signs of gradual labor market healing.”
Employment did rise in a few areas, including retail trade and temporary help employment, as well as manufacturing. The results of the Labor Department’s survey of households showed that 541,000 more Americans had work in January. But Romer’s choice of words may be an even bigger indicator in itself, as it marks the first time anyone analyzing the labor market has really talked about “healing” for the jobs outlook. Could the jobless recovery finally be getting back its jobs?
There are several caveats, of course. First of all, as Romer herself notes, the DOL’s revised numbers revealed that more than a million more jobs than previously thought have been lost in this recession. The new numbers suggest 8.4 million jobs have been lost in this recession, and it will likely take several years for all of those jobs to be restored to the economy.
But let’s look at that in a different light. Economic analysts believe we could add as many as 1.5 million jobs to the U.S. economy this year. For proof that 2010 is beginning to show signs of an improved outlook, look no further than CNN/Fortune’s new list of the best companies to work for in 2010. Out of those, almost a quarter have at least 500 openings each, which equals almost 88,000 jobs. In other words, Fortune’s top companies are hiring.
The top rankings this year, by the way, went to:
- SAS
- Edward Jones
- Wegmans
- Google
- Nugget Market
- DreamWorks Animation
- NetApp
- Boston Consulting Group
- Qualcomm
- Camden Property Trust
To some degree, this year’s list of top companies is just a reshuffling of last year’s, but it’s interesting to consider who moved and who didn’t. North-Carolina-based software firm SAS jumped all the way from #20 to #1, while Edward Jones remained at #2 and Google held at #4. Camden Property Trust made the biggest upward move in the top 10, from #41 to #10. Meanwhile, Cisco Systems, Genentech and Goldman Sachs all fell out of the top 10.
Unlike 2009’s list, not all of the top 10 companies had positive job growth this year, and the upticks were generally small in any case.
However, judging from what the companies are saying about their hiring for this year — and all of those openings — expect that to change on next year’s list.
