Has Unemployment Hit Bottom?

" the unemployment rate now stands at at 26 year high we've lost six and a half million jobs since the recession began."

" But there are some signs that the worst is over depending on how you look at things of course of so where are the bright spots in this job market youngest -- joins us. President of America's new employment services firm of manpower. He obviously the signs there are few and far between though you can look at the manpower numbers it it people just aren't ready to hire just yet. When will they be and what is the trigger that a company looks at the system are now ready to start hiring again."

" Well I I think today's today's jobless numbers are pretty indicative of how employers feel. It is a long bumpy road to recovery and we're not seeing any rapid science of all picked up anywhere anywhere really in this in this economy and employers are reacting. -- to that end and they are very very cautious about who the high were and where the higher there are still jobs being -- the positions open."

" But companies are very specific about who they hire and the kind of talent that they want so it is a difficult market still for jobs seek."

" Jonas does that surprise you that the White House is now issuing a flashier saying that unemployment and the rate of it will climb to about 10%. In the next two to three months that shocks you all certainly doesn't us here Fox Business I mean it's obviously pretty dismal picture up there."

" Yes well I think that as we have spoken to -- survey that you know 70000. Employees around the world as well as in the US it's pretty clear that. Employers are maintaining the workforce is that they can maintain and if they have to they will make reductions."

" And this -- the with the way in the the employment market works people lags the return of all the economy is so."

" I think it is a very very likely that we will see double digit unemployment numbers in the next for the."

" Five months now we have seen that prediction number of economists we've talked to denounce -- says to see it coming just moments ago out of the White House. And this admission for lack of a better word the unemployment rate will climb above 10% two to three months down the line. -- things are worse than they thought they would be able talk to Jared Bernstein a few moments about that from the White House. Are they worse than you thought as well and if so maybe it gets even worse than this where's the stop. What."

" I think that we have to look at the -- one month isn't -- trend and we have seen for months of improving numbers and then we have this which is clearly worse than what. Many of us had expected. The average declines are still moderating though the unemployment rate while it rose only -- point 1%. So so my my feeling is that we are in a eight a phase of moderating decline and hopefully will hit bottom we can start to see -- recovery but I think that the recovery when it comes. Has all all the hallmarks of being slow and and and and pretty anemic."

" You know the one thing we don't want to do for our viewers is is. Be in denial and now I I've been pretty impressed with how the Obama administration has not overstated how much better. Or how much more quickly things would get with the Bush Administration we have -- here who was the top economist for President Bush in the next hour. They tended to be very slow on saying there isn't recession there are problems and we'll talk to him about that. But I look at these numbers even what the Obama administration is saying 10% as scary as that is. If you count temporary workers and freelancers the number isn't it more illness like 14%. Unemployment."

" What I think be the -- U six measure which measures. The un employed as well as the underemployed is close to 16%. And and the end. In this month so -- that is a high that is a very very high number on this measure has only been. Minutes have been measured since the island since -- early ninety's and it's the highest that we had that we've ever had been seen so. It clearly is a very very difficult employment market right."

" Now an adequate basic question of what the rebound is going to look like units from this point nine in another word. We're going to start adding jobs at some point release -- lose fewer jobs than were losing now 400 and some odd thousand just last month. But what a second look like there are people that are working part time now or their hours have been reduced so they'll go back to fulltime but what about the new workers coming into the workforce there. Still out of -- for a long time or now."

" Yes correct and that is why you that is why the unemployment lags of the general return to the economy was the first thing that'll happen is that companies look -- filled the excess capacity that they hat."

" So part time work -- go back to full time you'll see the hourly work week."

" Increased somewhat and usually you saw that this -- this month that actually declined somewhat self. So that is that is bad that is bad news that's first that's the that's excess capacity will have to be filled. And then compost will start bringing in the more workers -- you people that are entering into the job market but of course now."

" The new entrants to the job markets also compete with -- experienced skilled workers who were previously an employment. So coming -- into the job market is it is difficult now because there's not only new entrants but also existing instilled. Players in the market with the for whom you know this is that indeed these jobs are are equally important."

" Well thanks for keeping it clear for our viewers and I see on -- saying enough manpower thank you for coming on. Thank you --"