Sandy, Jobs Report and Obama-Romney Poll Weigh Heavily on Wall St., EmploymentCrossing Continues to Report 2 Million Job Openings
Inspite of Wall St. closing down because of Hurricane Sandy and election uncertainty, businesses are adding jobs at a considerable number.
Pasadena, CA (PRWEB) October 30, 2012
With election day just a week away and the last jobs report before the election set to be released on November 2, Wall St. was shutdown on Monday and also Tuesday as per latest reports because of Hurricane Sandy.
But in spite of the shutdown, and election anxiety among political and economic analysts, businesses across the country seem to be in hiring mode. EmploymentCrossing has found 2 million job openings across the country.
The last time the market was closed was on September 27, 1985 because of Hurricane Gloria. Sandy's arrival has also resulted in scheduled earnings reports releases to be delayed. As of now Pfizer Inc, Thomson Reuters and NRG Energy Inc have already announced that they will postpone their quarterly earnings reports.
A Reuters/Ipsos poll shows that President Obama is in a three-percent lead over Romney. The poll results show that Obama is at 49 percent compared to Romney's 46 percent. The poll was conducted on Sunday.
The next major report coming up is the jobs report from the Bureau of Labor Statistics on Friday, November 2. A Reuters poll of 78 economists predicts that the country will have gained around 124,000 nonfarm jobs. The jobless rate is also predicted to inch up to 7.9 percent for October, from 7.8 percent in September. America's workforce participation rate has declined to 58.7 percent compared to 60.6 percent in January 2009, when Obama took office. But there are also 800,000 more people working today since Obama became President and the BLS says that since December 2009 almost 5 million jobs have been created.
But inspite of uncertainty over the election results, with most analysts saying it's too close to call, businesses across the country are continuing on a hiring spree as observed by EmploymentCrossing.
The job aggregator website has found a substantial number of jobs across all the major industries. Healthcare jobs continue to be the category with the highest number of openings at over 400,000 jobs so far. Managerial jobs across all industries are the second biggest category on the site, showing that businesses are not backing away from hiring senior-level employees.
EmploymentCrossing is part of the Employment Research Institute, which is one of the most powerful and comprehensive organizations dedicated to helping professionals find jobs for enhancing their careers. Employment Research Institute consists of more than 120 industry-specific and more than 120 location-specific job boards which consolidates every job opening it can find in one convenient location. The website also offers a seventy two-hour free trial to new members.
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