Wednesday, August 11, 2010

Where the Jobs Are

Recently KSL Newsradio interviewed Mark Knold, DWS Chief Economist regarding Utah's job market:

"Chief economist Mark Knold says the health care sector has been the most steady through the recession. Second, he says, is actually the government sector. While he says the state has seen job losses, there has been hiring at the federal level because of the stimulus, and jobs at the local government level have not dropped. 'Government is a helpful stabilizer within the economy in terms of it usually doesn't get big spikes in unemployment.' Knold says overall he is still observing more job losses than he would like to see, but job gains are outnumbering the losses by a slim margin. He believes that pattern may continue until late in the year. While talk of a double-dip recession has gained attention on national talk shows, Knold believes the chance is about 20 percent. 'You have to acknowledge that possibility. I don't think that's what is going to happen.' The challenge is the competition for jobs is fierce. The jobless rate in Utah stands at 7.2 percent. There are 97,000 people without jobs. Knold believes the true number could be in the neighborhood of 120,000. KSL.com, August 11, 2010

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