Friday, February 6, 2009

Unemployment Rises, Yet Profiles International Reports Hiring in Select Sectors

/PRNewswire/ -- Profiles International, the world leader in employment evaluation and human resource management assessment tools, has identified growing job sectors despite the latest unemployment figures.

"The silver lining behind the ongoing employment clouds is that select sectors of the economy remain vibrant, with numerous unfilled positions," said Jim Sirbasku, co-founder and CEO of Profiles International. "We have clients in healthcare, transportation / logistics and financial services that continue to add to their payrolls."

According to the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor, nonfarm payroll employment fell in January 2009 by 598,000 and the unemployment rate rose from 7.2 to 7.6 percent. Job loss was distributed across most major industry sectors.

However, Profiles International continues to experience demand for personnel evaluation and assessment from clients that are looking to hire. For example, credit unions are expanding as traditional financial institutions continue to shrink their workforces. Demand for skilled healthcare professionals at all levels continues to remain strong, while segments of the transportation industry have rebounded due to the drop in fuel prices, and are now expanding their workforces.

While the overall U.S. economy still has not begun its recovery, Sirbasku said preemptive layoffs will actually hurt many companies in the long run.

"A strong staff and viable workforce is the greatest asset a company can have because it's the biggest investment a company will ever make," he said. "Releasing talented workers in anticipation of an uncertain economic future is often a costly mistake that can mortgage a company's future. It is far better that companies put off capital investments, which can always be made when the economic conditions strengthen."

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