Wednesday, December 4, 2013

Orion President Mike Starich Interviewed for The Street

Last month, Orion International President Mike Starich was interviewed for The Street on the rise of the job market in October, which saw an increase of 204,000 jobs, according to a recent US Department of Labor report. This increase comes as a surprise to many economists, who believed that the government shutdown could have a delayed effect on the job market.

Starich credits the trends in the hiring process as the reason for the employment increase. August and the first half of September were strong interview months, which were followed by hires in October, revealing a gap between the interviews and the start date of employees, creating a lot of hiring activity in October.

“All the folks that we had in the interview pipelines, everything started to change [as October approached],” stated Starich. “Everything just sort of iced over, and now it’s releasing ever since the [debt ceiling] was resolved – the ice is breaking.”

The economy is moving slowly, and the labor market won’t be fully recovered until most likely next year, according to Shang-Kin Wei, director of the Chazen Institute of Business at the Columbia University Business School. The positive October jobs report is an early sign of what is to come, revealing that a full economic recovery will be a slow and steady process.

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