So how many of these new jobs were h1b visa jobs? I just saw a report that Microsoft was asking congress for more h1b visas.
Look at the CNBC video clip I have linked in my sig (
http://video.cnbc.com/gallery/?video=3000114536&play=1)
At the end of the that one,
Mark Cuban, owner of the Dallas Mavericks and who I believe made his fortune in satellite tv, says how salaries for engineers have gone through the roof on the West Coast (but not yet for rest of the country), and that it is a "battle" to get any highly skilled workers because that particular segment of job market is so tight (~4% or less unemployment rate). e. g. the human resources lady in Fox Business clip also linked in my sig says unemployment rate for engineers is 2% (
http://video.foxbusiness.com/v/1834541087001/engineering-facing-skills-shortage-in-hiring).
Microsoft probably can't find the engineers and other highly skilled technology workers it needs, so needs to get them from say India.
IBM, right now on their website, has over 2500+ job openings for positions across many states in the U. S.:
https://jobs3.netmedia1.com/cp/find.ibm.jobs/location/USA/
It is just like
Siemens starting an apprenticeship program for factory engineers (
http://www.npr.org/2012/07/26/157033600/bypassing-college-dreams-a-different-road-to-work) they pay for community college and have a job waiting at completion of training for individuals in Charlotte, NC community that have been awared those apprenceticeship positions.
Siemens isn't spending 160K per apprenticeship out of the kindness of their heart; they need those workers to
grow their business and make more money.
I think the U. S. workforce is something like 110 million people, so even if Microsoft hired 1000 foreign born or educated engineers, it in itself won't move needle on unemployment drastically, especially when big chunks of job losses from The Great Recession were in the housing and construction industries (30% of factory jobs existing around say year 2007 are permanently gone because they have been replaced by automation / robots. Brandeis economist said just as many jobs have been lost to automation as to outsourcing to China. And manufacturing job openings that exist now are more high tech and require computer skills, which unfortunately, some still looking for jobs may lack).
Manpower CEO talking about last month's (August BLS report):
http://video.cnbc.com/gallery/?video=3000114255&play=1
And like it or not, from what I've read,
temporary / part-time jobs may be becoming a larger and more permanent part of corporations hiring plans, because it allows them to ramp up and ramp down more quickly to changes in demand, especially now where there are still lots of uncertainties out there, both here and abroad...
Morningstar economist Bob Johnson's written summary of the whole week's Economic Data:
- he usually has a video commentary on some economic release on Thursday or Friday of each week, then nice written summary of whole week's economic data on Saturday. We can all turn on the tv and find channel to give us spin we want to hear, but life will go on after November 6, and sometimes you want a more fact based analysis of what these numbers mean for yourself, your family, your friends and neighbors, all of the people and businesses that make up your community and are ultimately your true economic reality, irrespective of what talking heads on tv are trying to convince us of on tv)
"Though the headline job additions in September just barely matched consensus (114,000 jobs added), there was a lot to like in this month's employment report. Besides job growth, both the number of hours worked and the wage per hour went up after a couple of months of stagnation. Average hours ticked up by 0.1 to 34.5 hours while the average hourly wage jumped 0.3%.
The combination of job growth, more hours, and more dollars per hour should drive consumer income figures (http://forums.anandtech.com/showthread.php?t=2263109) September considerably higher than August levels. Those incomes should give consumers the wherewithal for increased spending over the upcoming holiday season. Furthermore, as I surmised last month, job counts for both July and August were revised substantially higher; July was revised up from 141,000 to 181,000 and August from 96,000 to 142,000. These are embarrassingly large revisions relative to the size of the original job growth figures. And these revisions are likely to produce meaningful increases in personal income and perhaps consumption growth for the months of July and August."
"In some good news, government jobs have now broken meaningfully out of their slump. After dropping almost half a million jobs from the beginning of the recession, government employment growth has now been in positive territory for three months in a row (the most recent set of positive employment report revisions were primarily government-related jobs). This month the government contributed about 10,000 jobs. Most of that improvement has been at the state level, where strong sales tax collections are finally beginning to refill state coffers."
http://news.morningstar.com/articlenet/article.aspx?id=569733
:thumbsup: