rssJob Seekers v. Jobs
Wednesday, September 08, 2010 at 1:52 pm
- 25 Comments
A glimmer of good news in the monthly Job Openings and Labor Turnover Survey released today: In July, there were more job openings than in June — the first positive month-on-month change since April. The number of advertised gigs rose 6.2 percent, to 3 million. (In Dec. 2007, before the recession started, there were 4.4 million available positions.)
Moreover, the ratio of workers looking for jobs to job openings turned down again, and now stands about 4.8 versus a high of 6.2. The higher the ratio, the greater the competition for available jobs. Here is a graph of the monthly ratio from the Economic Policy Institute:
That said, any improvement in the jobs market has been slight. And the jobseekers-to-jobs ratio has drifted lower at least in part because hundreds of thousands of discouraged workers have left the labor market (and therefore do not count in government data). EPI’s Heidi Shierholz notes:
[I]f we were to include not just the 14.6 million officially unemployed workers, but also the 2.6 million “marginally attached” workers (jobless workers who want a job, are available work, have looked for work in the last year but have given up actively seeking work and are therefore not counted as officially unemployed), the ratio would be 5.7-to-one.
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25 Comments
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Comment posted September 9, 2010 @ 10:08 pm
josephnr wrote:
This sounds like the start of further good news around the corner. The problem I have is the industries we are seeing the growth in. Leisure, hospitality, education and health services are all service industries. Over the last couple of decades, we have been and are increasingly becoming a service-driven economy. With so much of actual hard-goods production occurring in Asia. To really put America back to work requires some actions to get our manufacturing jobs back. I'm in favor of increasing import taxes and tariffs along with heavy tax penalties on American corporations outsourcing their jobs to Asia and elsewhere. While we will no longer enjoy $5 shirts from Walmart, we have simply got to reclaim our workforce.
Read my blog at http://www.jobservicehelp.com
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