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October 23, 2007

More jobs needed

Unemployment may have dropped a bit in Massachusetts, but there is still a tremendous need for good-paying jobs in the region as well as nationwide. Nationally, unemployment increased last week by the largest amount since early February.

We were pleased Gov. Deval Patrick spent time in the area visiting some of the state's 37 one-stop career centers, listening to residents who are struggling with unemployment and the workers who are helping in their search for new jobs.

Last Thursday, the U.S. Labor Department reported that applications for unemployment benefits hit 337,000, an increase of 28,000 from the previous week. That was the biggest one-week surge since Feb. 10.

That is a troubling rush for financial assistance and one that shouldn't be taken lightly. Economists believe it could be a sign that the labor market is starting to weaken under the impact of a severe downturn in housing and the credit crisis that hit the financial markets in August.

However, it's not all dismal news here in Massachusetts.

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Patrick pointed out that the state has 125,000 people looking for jobs and 90,000 vacancies.
"We know we have a lot of skill and talent in this state, but we need to do a better job of matching those skills to where they're needed," Patrick said.

He's right. The state must increase its focus on matching available employment opportunities with Massachusetts residents in need of work.

Also, by pinpointing what types of jobs are available and where they are located, state leaders will know what kind of training should be offered in each region. The state's academic institutions, particularly Middlesex Community College, do an excellent job of providing training for residents looking to improve their skills, adapt to a changing workplace or make a career switch.

Rising unemployment and sagging housing and financial markets are concerning, but we believe Massachusetts can meet this challenge through innovation, education and perseverance.

Posted by Admin at October 23, 2007 10:41 AM