Members of the Greater Lehigh Valley Chamber of Commerce conducted their 42nd survey at the end of April and the first week of May. The survey concludes that The Lehigh Valley is on the road to recovery, with more companies hiring than firing.
Excerpts from morningcall:
“For the first time in a couple of years, companies are hiring more than they are laying off, and the numbers are statistically significant. Employers who are going to hire in the next six months also are up. So all indications are that this is it.”
In addition, the number of new unemployment claims has dropped significantly since the beginning of the year, however, they have not quite reached the goal level.
Applications for unemployment benefits fell by 14,000 to 460,000 last week, the Labor Department reported Thursday. Analysts had expected the level would fall further to 455,000.
Economists say they will feel confident about sustainable job creation once weekly first-time claims dip below 425,000.
Signs of recovery in the Lehigh Valley are reported by economists and companies within industries of technology, health care, construction, education, and retail. Areas of entertainment, such as the Sands Casino in Bethlehem, are going to be hiring up to 180 people. A class was offered at Northampton Community College and eligible graduates are receiving job offers.
Overall, The Lehigh Valley is on the path to recovering from severe downturns and the local economy is seeing signs of growth within its communities.
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