The consensus seems to be that the recession is over and we can now expect growth in the economy to begin. Unfortunately, as many of you know, jobs are always the last thing that recovers following a recession. Today's job report showed that new claims for jobless benefits fell to 550,000 versus the expected 560,000. While this is good news in the fact that the worse seems to be over, there is still not enough confidence for full-fledged hiring to begin.
In the energy sector, a report indicated that Shell continues to go through their major restructuring previously announced by the new CEO in attempt to simplify the organization. The report indicated that Shell's upper level management count was reduced by about 20% from about 750 t0 600 and now each department is finalizing plans to reduce their organizations. Some posters have indicated that employees are having to reapply for their jobs or can apply for others.
Hopefully we will see a recovery in jobs in the energy sector soon.
Thursday, September 10, 2009
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