1 job for every 3 unemployed Americans
That's better than the 7 Americans competing for every open position in 2009, but it's still double the prerecession levels.
According to a Department of Labor study released Tuesday, the number of job openings rose to 3.9 million in February, while roughly 12 million Americans were still unemployed. That's great news if you look back to 2009, when there was one available job for every seven unemployed people in the U.S., but it's still pretty terrible by prerecession standards.
In the halcyon days of 2007, 1.5 people were competing for every job opening. It didn't hurt that back then people were applying for jobs they actually wanted as well. Yes, the U.S. economy has recovered 5.7 million of the 8.7 million jobs shed during the recession. However, The National Employment Law Project says nearly 60% of all jobs lost during the downturn paid middle-income wages or better, but roughly 65% of the regained jobs are low-wage.
Those job seekers now live in a country where, according to The Bureau of Labor Statistics, retail salespeople at Wal-Mart (WMT), Target (TGT), Home Depot (HD), Lowe's (LOW) and elsewhere have the most common job in the country. Nationwide, 4.3 million retail salespeople are making an average of $25,000, or well below the annual mean wage of $45,790. America has more retail workers than Kentucky has citizens and a larger big-box work force than the populations of Wyoming, Vermont, Washington, D.C., North Dakota, Alaska and South Dakota combined.
And not only are 45% of the nation's unemployed between age 18 and 34, but the Labor Department says the average 25-year-old has already worked 6.3 jobs since he or she turned 18. The U.S. economy would have to add another 4.1 million jobs before young adults get back to prerecession employment levels.
With a PwC study finding that 54% of millennials planned to work for between two and five employers for their entire career and a Career Advisory Board study saying workers between 21 and 31 plan to work only five jobs total during their lifetimes, heightened expectations are crashing into reality on a regular basis in human resources waiting rooms.
This article doesn't even address the underemployed and the unemployed people that have "given up looking for work". If everyone that is unemployed is counted, there would still be around 7 people vying for each new job. The cruel fact is there will never be enough job creation to support the rising population. Unemployment and underemployment are the new American ways of life.
49 million people on food stamps, the number of people on disability has doubled since 2009, average wage rates are in the toilet, underemployed and discouraged workers are not counted, and monthly unemployment/jobs data remains too erratic for anyone to accurately discern.
The administration can spin things however they want, but unemployment in the United States remains double digit and is likely around 14%. I guess obama's lucky in that he can sell this garbage because most of his supporters can't speak english or never graduated from high school.
USA Elected the Wrongs man for the president he had no experience, that showing now this is a sad situation for this great country .
The president only know how to spend other people money. The unemployment situation he never can solve because his socialistic idea.
If you think these inaccurate figures in this article are bad, just wait until the student loan bubble bursts like the housing bubble. You can not throw new graduates out into the job market every year, year after year without ANY JOBS for them. They will be unable to pay the student loans back and the Govt is doubling the interest on them this summer to speed up the bubble bursting. PLUS the Govt has ordered the banks and mtg co's to extend mtgs to higher risk housing applicants to open up the housing market again doing the same thing they did before to create the same housing crisis all over again. ANY LOANS will create problems in a collapsing society losing jobs, losing wages, increasing cost of living and increasing population. We can not sustain the expense of the nation on the shoulders of 25-30% of the people (remaining work force and decreasing). 40% are on social security, military or fed govt retirement, pensions, disability. 20% are now on welfare and poverty strickent. 20% are not even counted anymore The remaining are on unemployment wages or presently working or no longer working and not receiving welfare (which increases every month and hard to keep up with anyway).
"It didn't hurt that back then people were applying for jobs they actually wanted as well. Yes, the U.S. economy has recovered 5.7 million of the 8.7 million jobs shed during the recession."
The reason we won't get those 3 million jobs back is because the corporations used this recession as a means/opportunity to shed the slackers from their payroll, so don't be surprised when they are not hired back.
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[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.
The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More
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