Job Openings Unchanged, Workers Still Competing 4.6 to 1
Today, the Labor Department reported (PDF) that the number of available jobs remained mostly unchanged between July and August -- holding at about 3.2 million.
Jul 31, 2020173.8K Shares3.1M Views
Today, the Labor Department reported(PDF) that the number of available jobs remained mostly unchanged between July and August — holding at about 3.2 million. In August, there were 14.9 million Americans unemployed. The job openings rate (job openings as a percentage of total jobs, 2.4 percent), hires rate (total hires as a percentage of total jobs, 3.2 percent) and separation rate (number of people leaving jobs, involuntarily or not, as a percentage of total jobs, 3.2 percent) were also unchanged. The job-seekers-to-jobs ratio also stayed the same, about 4.6 to one. In the early 2000s, the rate routinely came in below two to one.
Here is a chart showing the job openings rate since the start of the recession, and the wan recovery:
There were the most openings, relatively, in professional and business services — white-collar jobs like law and consulting. There were the fewest openings, relatively, in manufacturing, state and local government and construction.
It is one more report showing no more deterioration in the jobs market, but no improvement either. In the words of Heidi Shierholz of the Economic Policy Institute, “The economy is no better, no worse. America’s workers are still in hell.”
Rhyley Carney
Reviewer
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