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.