This is a partial transcript from Your World with Neil Cavuto, December 7, 2001.
BRENDA BUTTNER, HOST: With more Americans looking for work, where can they find it? Let's ask Dimitri Boylan. He's the CEO of HotJobs.com. Thanks so much for joining us.
DIMITRI BOYLAN, CEO, HOTJOBS.COM: Thank you for having me.
BUTTNER: Your traffic is way up, people looking for jobs.
BOYLAN: Yes, yes, we've had a big surge in traffic. All through this year, really, traffic has been steadily climbing because of the economic conditions.
BUTTNER: Where are the sectors where people are finding it easiest to find jobs? Who is hiring?
BOYLAN: Clearly, the health care sector is doing very well. We had an increase in the number of jobs from health care employers on our site. That doesn't mean, of course, that somebody who was a technologist six months ago could necessarily find a job in the health care sector.
Also, education sector was really starved for employees. The government sector is coming on very strong also, was starved for employees back, up until six months ago. So there are some areas of the economy that are really looking for workers.
BUTTNER: The unemployment rate is really a lagging indicator, meaning you're looking in the rearview mirror. From your perspective, right out there on the front lines, are you seeing a turnaround? Are we starting to see the end of the layoffs?
BOYLAN: No, I wouldn't go that far. I think that we see some stability now. We see a lot of the big employers, having done their dramatic downsizing. They've sort of gotten to a steady state right now. I think they're sitting here waiting to see what is going to happen with the economy. But I don't see any uptick at this point.
The only thing I have seen is that in some of the staffing companies that use our service, we've seen a little bit more of a pickup in the number of jobs that they're putting on the site. That could be a response to the stock market, and to the feeling that things are going to turn around. Or it could be because they're actually seeing more orders from employers. We haven't really smoked that out yet.
BUTTNER: Of course, the question is, how much of this is temporary layoffs, and how much permanent staff cutbacks? Can you offer any insight on that?
BOYLAN: I think that a lot of the companies that have been on our system, although they've stopped doing a lot of hiring and you've seen them in news, downsizing, they've continued to hire. They've been cherry picking from the labor pool, consistently throughout the year. And I think that means that they're generally anticipating a return to strong hiring, if the economy does turn around.
I don't think that they've seen the signs yet, that tell them they should be bringing on lots of workers, though.
BUTTNER: And, bottom line, when do you think we will see the turnaround?
BOYLAN: You know, I'm not an economist...
BUTTNER: I know. And I know you don't have a crystal ball, but your feeling?
BOYLAN: My feeling has always been that summer of 2002, is when we'll see the pickup that means something to the job seeker.
BUTTNER: Right. OK, Dimitri Boylan, the CEO of HotJobs.com. Thanks so much for joining us.
BOYLAN: Thank you.
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