Job-loss pinch felt less by managers
It pays to be the boss. Unemployment among managers and professionals fell to 2.8 percent in April from 3.0 percent in March. That compares with a 6 percent unemployment rate among the entire US workforce. The reduction may be a sign that the economy is improving.
"Hiring of management-level people usually reflects a longer-term view and means businesses are thinking more positively about the future economic environment," says Allen Salikof, President and CEO of Management Recruiters International (MRI), a Cleveland-based recruitment firm.
Layoffs of lower-ranking workers are forcing managers to work longer hours, MRI found. Of the 1,742 managers and professionals polled, nearly two-thirds work late three to five days a week.