For job seekers like David Cutler, today’s news that the nationwide jobless rate jumped is not shocking.
Cutler, a Waltham resident laid off from his marketing job in February, said reports that the economy added only 18,000 jobs last month really won’t affect his outlook for landing a new job.
“I can’t say that it really impacts my outlook all that much,” said the 34-year-old Cutler. “It certainly does not improve my outlook on things.”
Cutler’s comments came after reports that businesses last month added 57,000 new jobs, but governments cut 39,000, equaling the 18,000 net figure. In May, the economy added just 25,000 jobs.
Also, the nation’s unemployment rate crept up to 9.2 percent frm 9.1, the highest this year.
The jobs report comes amid businesses reporting decent profit margins, according to the Boston Globe.
Hearing of the jobs reports, Waltham-based Rogers Pharmacy co-owner John Cincotta said his business would like to hire, but is running into some difficulty. He said that high health insurance premiums are just one costly obstacle to hiring additional staff.
“We're actually looking to hire, but one of our big holdbacks is health insurance,” he said.
Cincotta said the pharmacy currently employs eight people, four part-time and four full-time.
Another difficulty — finding the time to train a new employee without slowing down business operations, Cicnotta said.
Finding the right person to fill a position, Cincotta said, is another complicating factor for businesses that are hiring. Cincotta said he prefers to find a qualified person with ties to the Waltham community, instead of somebody he is unfamiliar with.
Overall, Cincotta said it’s hard for a business to know when to start regularly hiring again. Thankfully, business has been good for his pharmacy lately.
“From my perspective, in my business, it’s hard because [business] can be good one day and hard another day. It would have to be a longer time of growth to be able to go out and spend the money to hire,” Cincotta said.
For job seekers like Cutler, finding new employment means competing with many other qualified people for few openings. Cutler said he has essentially become a “professional networker” since being laid off. He said he has spoken to many potential employers who express interest in hiring him, but never do.
“I think that because there are so many smart qualified people out of work right now it allows companies to be that much more selective,” Cutler said.
President Barack Obama addressed the jobs report earlier today saying the report indicates the economy still has a long way to go.
”Today’s jobs report confirms what most Americans already know. We still have a long way to go and a lot of work to do to give people the security and opportunity that they deserve," he said.