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Job Market Is Getting Better, But…

CNNMoney (01/31/12) Paul R. La Monica

Around 200,000 jobs were created in December, and the unemployment rate fell to a three-year low of 8.5%. However, a CNN Money survey of economists predicts that the government jobs report slated for release on Feb. 3 will show a decline in the number of jobs created to 135,000 and a slight rise in the unemployment rate to 8.6%. Experts attribute the increase in jobs in December to the hiring of temporary workers for the holidays, and say flat personal spending, lackluster financial results recorded by businesses in the fourth quarter, and ongoing weakness in the housing market will slow labor market recovery.

However, Bobbi Moss, senior vice president of Scottsdale, AZ-based Govig & Associates, an affiliate of executive search organization MRINetwork, says there is growing demand for jobs in the manufacturing and health care industries and even the hard hit construction sector. She adds that her clients are giving out more signing bonuses and that she has seen more employers make counteroffers to people looking to leave, something that was almost unheard of a year ago.