Region's businesses optimistic, but...

The Federal Reserve has released its April Beige Book - the periodic informal survey of business conditions in the 12 Federal Reserve districts - and the news from the Philadelphia Fed is good news for the economy, but guarded for the region's job market. Businesses in the region are optimistic that the recovery now under way will continue and strengthen - optimistic enough that demand for workers has risen, but not so optimistic that they are ready to hire on a large scale yet.

As in much of the rest of the country, manufacturing has rebounded in the Philadelphia district, which includes eastern Pennsylvania, southern New Jersey and Delaware. More than half the manufacturers the Philly Fed contacted said shipments and new orders increased in March, an increase in activity from February. Retail sales also improved, but not as strongly, and the earthquake and tsunami in Japan has disrupted shipments of electronics, autos and auto parts, also affecting sales.

On the construction front, activity remains depressed thanks to weak home sales and a languid commercial real estate market. But home sales are showing signs of picking up, and some builders told the Fed that they are seeing an uptick in remodeling jobs.

Service firms also reported increased business in March, but again, gains are modest. The Beige Book cited one respondent's response as emblematic of the sector: "The cycle has turned up, but our customers are being very cautious about increases in spending."

In sum, the economic recovery continues to gain steam in Greater Philadelphia and its surrounding hinterlands, but not enough steam to produce an explosion in hiring. Job seekers should expect continued stiff competition for available openings in their fields.

Gird yourself for battle. Use the educational and support resources on PhillyJobs.com to maximize your marketability.

By Sandy Smith

Sandy Smith is a veteran freelance writer, editor and public relations professional who lives in Philadelphia. Besides blogging for PhillyJobs.com, he has written for numerous publications and websites, would be happy to do your resume, and is himself actively seeking career opportunities on Beyond.com. Check out his LinkedIn profile and read his other posts on PhillyJobsBlog.com.