Posted on 06/06/2018 1:42:46 PM PDT by Diana in Wisconsin
The American economy just went off the charts when for the first time in history there are now more jobs than job seekers:
The jobs market has reached what should be some kind of inflection point: There are now more openings than there are workers.
April marked the second month in a row this historic event has occurred, and the gap is growing.
According to the monthly Job Openings and Labor Turnover Survey released Wednesday, there were just shy of 6.7 million open positions in April, the most recent month for which data are available. That represented an increase of 65,000 from March and is a fresh record.
The number of vacancies is pulling well ahead of the number the Bureau of Labor Statistics counts as unemployed. This year is the first time the level of the unemployed exceeded the jobs available since the BLS started tracking JOLTS numbers in 2000.
As of April, the total workers looking and eligible for jobs fell to 6.35 million, a decrease from 6.58 million the previous month. The number fell further in May to 6.06 million, though there is no comparable JOLTS data for that month.
Under normal circumstances, the mismatch would be creating a demand for higher wages. However, average hourly earnings rose just 2.7 percent annualized in May, up one-tenth of a point from April.
“Given these trends, the sluggish wage growth rate is even more perplexing,” said Cathy Barrera, chief economist at ZipRecruiter, an online employment marketplace. “If employers want to fill these 6.7 million job openings, they are either going to have to raise wages or find more clever and creative ways to recruit workers off the sidelines.”
Thank you President Trump!
You forgot the # ! lol
I recognized that after the post. Unfortunately we are not like Congress where revised and amended is de rigueur
bookmark
“American Economy Just Went Off the Charts; “Never Before in History”
I suppose with this news that you’ll be too busy for musky fishing this weekend at Lac Courte Oreilles...
:(
That’s okay I guess. I lost my trolling motor during an unfortunate boating accident on Buffalo Lake.
I’m still looking for something interesting enough to get me to go to town let alone the city.
When we’re at our ranch.... I’m a fan of Tractor Supply
There are still many unemployed who want to work, and have been consistently sending out resumes for many years and mostly not even getting an interview.
Some have college degrees. Some have drug or other arrenst/conviction records. But many have clean records, never touched drugs. Many have bad credit scores...what would you expect when unemployed so long? Some are Black, some Hispanic, some white, some male, some female.
They are discriminated against #1 for bad credit score. #2 for being unemployed so long. #3 for arrest/conviction record. #4 doesn’t matter. I know some who try to use the affirmative action route. It isn’t working for them.
There are many jobs where a person’s credit score is irrelevant. More often than not, the HR department is a bigger block to hiring than the manager that has the vacancy. The HR department has “Policies”. It takes many years to update those policies.
“Maybe I should come out of early retirement and go back to work??? Nah. I went Galt and I’ll stay that way.”
Me, too! Three years in and LOVING it! :)
“Seriously, we need a return to the 5% passbook savings rate and give savers a return on their money.”
I seem to remember that...in the gray recesses of my memory hole...
I remember my folks paying 22% interest on their Mortgage. Grandpa said, ‘That’s Insanity’ and he paid off their house and charged them 10% interest to pay him back, LOL!
I love that man. Miss him every. damn. day. :)
They’re hoping that wages will rise due to the shortage of eligible/trained/skilled/drug-free/available workers.
Employers ARE going to have to cut back on the Company Parties and Tropical Vacations for, ‘Management’ and PAY competent people a good wage to run things for them.
I’ve been blessed. I always fell into jobs (never went looking, post Army career) where my employers KNEW they’d struck gold by hiring me. Ex-military, I show up for work on time, if not early...and actually WORK...good leadership skills and the ability to get those under me to work, too.
It’s a lost art, that’s for sure. But, I’m retired now. So, screw the rest of ya, LOL! ;)
“I will claim that the truth is that people do not know how great and powerful capitalism is until it is unleashed as President Trump is doing.”
And I will be standing right beside you! Amen! MAGA!
“People who are living on a fixed income (especially a small fixed income) will be in big trouble.”
I agree. I manage my Dad’s pension and SS deposits each month. He is in Assisted Living at their highest level of care. I have worked VERY HARD to keep him OUT of a Nursing Home, which is his idea of Hell On Earth.
I have $1,700.00 a month to work with between his (very small) pension and SS.
I am terrified every day...that the cranky, old, incontinent jerk that was ONCE my Dad ....will have to come and live with me.
It’s not just going to effect people on a fixed income; it’s going to greatly effect their caregivers, too, and will also effect local social services, EMTs, Police, etc.
We NEED to get this economy up and ROARING again! And...people NEED to start having more babies to be working and supporting ME with their Tax Dollars when I am old and infirm! ;)
a. I am NEVER too busy when the Musky are biting...
b. I, too, lost all of my guns and precious metals and ammo in a similar, ‘boating accident.’
c. Go figure! :)
Atwood’s, Coop or order. Mostly order.
TSC don’t stock what people need most. Mostly wasted trips going there. Often low quality and higher priced.
Yep. This is all very true. I’ve never understood the “logic” that if you have a gap in your employment record...say if you were out of work for a year or more even in the midst of THE worst economy in 3 generations....that somehow means you are now damaged and/or worthless and we should never hire you. That’s just stupid. If anything, somebody like that is probably very hungry for work and would be eager to do a good job. Yet that is exactly how many employers treat it.
The economy has really picked up in the last 6 months. My income has gone up 20% in the last year. But there are still people out there who are fully capable and who are qualified and still need a job. The labor market participation rate will go back up if the good economy persists. Many of those who the government claims “gave up” did no such thing - they were just long term unemployed during the Great Recession.
You know full well I wasn’t talking about you, but the fakers, idlers, and the phoneys riding the gravy train.
Yes, but many people lump the real disabled and the scammers together all the time, even here at FR. I’ve seen people say we need to get rid of ALL such programs and everybody is on their own.
Problem is : after he Obama Depression (the REAL unemployed statistic versus ‘people on unemployment’- which runs out after a year and THEY are no longer being counted) have a gap in their resumes and are out of recent experience on skills.
Recovering from the heap of Obamash*t strangling of the economy takes some time.
“Out of every one hundred men, ten shouldn’t even be there, eighty are just targets, nine are the real fighters, and we are lucky to have them, for they make the battle. Ah, but the one, one is a warrior, and he will bring the others back.” ~Heraclitus
https://en.wikipedia.org/wiki/Heraclitus
You don’t have to train anyone. The domestic labor free market will raise wages for skilled positions and as a result more people will seek out those skills. The only thing that will derail that is to increase H-1B visas. Actually kill that whole damn scam!
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