Wall Street has been on a tear this summer. There are indications that the worst is behind us and maybe we'll start seeing some job growth. But then recently the Institute for Supply Management released some bad news about the health of the service sector and the market pulled back. Apparently business in July at service companies was weaker than economists expected. The Institute's services index, which measures the health of retail, financial services, transportation and health care companies, fell to 46.4 from 47 in June.
What does this mean for you? Well, it depends on your perspective. If you're out looking for a job, you need to remain focused on the task at hand. Remember, the media does a great job at job fear mongering. I'm not suggesting that things are great, but the summer's market rallies seem to suggest that things are improving. The Commerce Department said factory orders rose in June unexpectedly for the fourth time in five months. A one percent decline was expected. That's good news, isn't it? Sure it is, but the media won't make a big deal out of it.
Let's be realistic. It's going to take some time before the job market shows significant improvements. In the meantime, if you're pursuing career opportunities, don't forget to put your best foot forward and stay focused! |