Skip to comments.There's something wrong with the US labor market
Posted on 05/10/2016 1:10:20 PM PDT by SeekAndFind
Something isn't clicking in the US labor market.
On Tuesday, the latest Job Openings and Labor Turnover Survey or JOLTS report showed there were 5.757 million jobs available in the US in March, a near record.
Additionally, the number of unemployed persons in the US per job open is down to pre-recession levels at about 1.5 workers per job. In 2010, for example, this number was closer to five unemployed workers per job opening.
And while the abundance of jobs is often interpreted as a sign of strength in the labor market, there's a persistent and growing gap between the number of jobs available and the number of hires being made that points to a nagging skills gap in the US labor market that still hasn't been resolved.
Additionally, the amount of time it takes to hire a worker is still at a post-recession high of about 26 days.
There are, of course, a number of interpretations to be taken from this data.
You could see the gap between hires and openings as well as the time it takes to fill jobs as signs employers are being more selective, which would be a drag on labor market vitality.
Alternatively, this data could indicate a lack of available workers, thus pressuring both employers' ability to hire and how long it takes to make those hires, suggesting the balance of power lies with employees rather than employers.
But these trends seem to also point towards a gap in what employers want and what employees can offer.
Simply put, it seems clear there is a skills gap in the US economy that is nagging the labor market.
(Excerpt) Read more at businessinsider.com ...
Ouch. Can you repost with those no wider than 600?
There’s lots wrong with the US labor market.
There is the matter of record numbers not even in the labor force.
There is the issue of millions of marginally employable or unemployable people.
There is the issue of how we have imported, or allowed to sneak in this country, millions of people to work.
There is the issue of so many jobs requiring specific skills, but many of the unemployed or chronically unemployed don’t have the skills needed to fill the jobs.
There is a lot besides these figures presented here, that we could discuss as labor market problems.
Team 0dunga lied about Benghazi, Obamacare, IRS scandal, Clinton emails, Iran deal, blah blah blah.. WHY WOULD LABOR DATA INCLUDING THE UNEMPLOYMENT RATE BE ACCURATE, GIVEN HIS LONG LIST OF LIES? HUH?
How many of those are full time with benefits?
Interesting that there is no mention of the elephant in the room: the gigantic pool of people who are no longer considered “unemployed” despite not having jobs.
It’s a game many companies play. They post jobs, interview some candidates, then say to the government they can’t find anyone to fill the role.... (which is total bunk) then they go out and get a H-1b visas worker.
The other possibility is that the “openings” aren’t really.
Or the circumstances around them aren’t comparable to previous periods.
At a guess there may well be a “skills gap”, but not as it would have been seen in the past -in the past such positions may have been filled from an applicant pool no better than the current one. Employers today however are less willing to take a chance, and the “openings” are far more conditional than before.
That is, “we have an opening, maybe, if an excellent candidate shows up, but if not, not”, where before it was “we need a warm body here ASAP!”.
This is true for some, but only for limited numbers. The total number of H1b is way smaller than the “openings” listed.
This would make a great case study in economics.
My take is that the unemployment number is grossly understated because it doesn’t count those who have
given up looking for a job. The real rate is closer to fifteen percent.
There have been 30 million new jobs created since Zippy took office. There have been 30 million new part time jobs created over the same period. All net new job “growth” has largely been in the under 30 hours per week segment, mostly a result of Obamacare. There have been no new net white collar/full time jobs under Zippy’s reign. He needs to go and his anointed heir, HRC, needs to be tossed as well.
You are correct. I’ve been through lots and lots of these “job postings”.
It’s a waste of time with most of them.
the problem is some data contradicts other data which leads me to believe the numbers are all bunk
But there are 90 million working age people without jobs.
Almost every fast food and non-chain restaurant I see has a “help Wanted” or “Now Hiring” sign. One waitress that I see about every 2 weeks says she has to limit her hours or she’ll loose her welfare.
A bunch of these are temp labor. Slave labor basically. No benefits, low pay, and long hours. People float in and out of these jobs. Companies have abandoned the full time employee. Worked at a company for more than year? That’s too long.
Anybody out there think that this is a CROCK???
Yeah, me too.
Same here in Indiana.
Everybody is an Obamacare 29er (or less) these days.
The other thing against fast food is these warehouses that distribute stuff (Amazon, Guitar Center, Sur La Table, O’Reilly Auto Parts are ones near me) are all paying $12/hour.
That seems like a better alternative to me, unless you’re really into the fast food scene.
About one in ten people applying for most part time jobs can pass a drug test. I notice that’s not mentioned in the article.
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