Mass. Unemployment Rate 7.6%, Some Benefit from Job Growth
Posted by Alexandra Earnley on Tue, Jul 19, 2011 @ 11:30 AM
With the U.S. unemployment rate at 9.1% in the month of June, Massachusetts is not nearly as deep in the hole as most states, reporting an increase of .5% to jobs in professional, scientific, and business services. Recent college graduates have also been able to reject mediocre job offers for more desirable positions. Top talent still has options, which is a great sign of not only the end of the recession, but also of job restoration.
Job growth will increase the likelihood of success for corporations in the competitive international market. These new hires help position companies as comprehensive global leaders and add value to the bottom line. This depends on whether they can stay afloat during such trying economic times given that the U.S. unemployment rate still stands at just under 10%. Many Massachusetts companies like NuView Systems, Inc., however, have been able to capitalize on product expansion and growth to maintain a talented and motivated workforce. This translates into future prosperity and a strong competitive advantage in the HR and payroll software industry.
Accommodating larger clients as companies expand globally has led many corporations to bring in fresh faces to enhance their vision and expertise. Companies are striving to give themselves an edge in the marketplace. Some of the most popular new hires across the industry have been in marketing, with the idea of boosting awareness domestically and internationally. Internal promotions, in crucial sectors like Support Services, have also been prominent within high performing companies due to their advanced knowledge of product modules. These gurus not only sustain the company, but also keep it globally competitive.
To achieve higher consumer confidence ratings and global success, those on the business side must also have a sense of the product’s technical capacities. Profitable companies know that it is the people behind the product, and not the product itself, which drive business forward. Though growth is not happening everywhere, it seems that there is still plenty to be positive about in many of Massachusetts’ most dynamic, global industries.