Job openings scarcer than ever
Six unemployed for every job opening -- and they're telling us the recession is over?
To put this in perspective, that equals only 1.8% of all the filled and unfilled positions in the U.S. That's a new record low, according to the Atlanta Fed.
For every job opening, there were more than six unemployed people. That's a very bleak scenario, particularly when you compare it to 2007, when the ratio was less than 1.5.
The underlying message here is pretty obvious. "Finding a job right now is extremely difficult," writes John Robertson of the Atlanta Fed's research department.
can see how this situation has affected the quit rate as well, which is
at a record low of 1.3%. The people that are lucky enough to be
employed are staying put.
And the tough job market has also
caused people to spend more time unemployed. By the end of August, the
average length of time people are unemployed has increased to 26 weeks.
With numbers like this, it's hard to believe the economy is in recovery and expansion mode.
MORE ON MSN MONEY
Copyright © 2013 Microsoft. All rights reserved.
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters (click for restrictions). Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Financial Information.
Investors expect the report to show some weakness, and are cautious ahead of the long holiday weekend.
VIDEO ON MSN MONEY
Top Stocks provides analysis about the most noteworthy stocks in the market each day, combining some of the best content from around the MSN Money site and the rest of the Web.
Contributors include professional investors and journalists affiliated with MSN Money.
Follow us on Twitter @topstocksmsn.