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 ...
I suspect there are millions who refuse to work. Why work if you can draw thousands of dollars in benefits monthly while sitting at home watching reality tv, eating food funded by taxpayers, and talking on their free phones.
If you are unemployed and your benefits run out ..... You are no longer unemployed .... at least not on paper.
No waitress where I work is on welfare. We all work every minute the restaurant is open because no one will apply. We have a help wanted sign and have had precious few applicants. Of those who applied none showed up for the interview. Strange to me because it’s a fine dining establishment in a small town with well to do “lake people “.
When I was in college twenty years ago the steak house nearby had an endless amount of applicants. We have just one college student waiting tables. The rest of us include a guy in his late twenties and two middle age homeschooling moms. Are young people really just that lazy??
No jobs. Too many slackers coming to the country and not working. Companies deliberately refusing to hire Americans. Democrat party working hard to destroy the country.
“When I was in college twenty years ago the steak house nearby had an endless amount of applicants. We have just one college student waiting tables. The rest of us include a guy in his late twenties and two middle age homeschooling moms. Are young people really just that lazy??”
The 5 of my grandchildren that are old enough to work have jobs. Two at supermarkets,two waiting tables,and one as a life guard.
They were STRONGLY encouraged to find part time jobs by their parents.
The parents are the key.
.
“We have a help wanted sign and have had precious few applicants.”
Maybe y’all need to pay closer to that livable $15/hr wage. lol
Yep, by keeping the unemployed happy with free stuff. Why work when you can live rent free, eat free and have a cell phone with money left over to play XBox all day?
I wonder what the wages are compared to 10 year ago for the same job.
-PJ
Yep-I waitressed in high school because my mom gave me no choice. Continued through college because it’s the best paying part time job I could get. After a twenty year break I’m back at it again.
Our boys started in food service at 14, the oldest loves it and became a manager at 15. The younger one worked there until 15 and prefers physical labor to customer service so now works for his dad. They had no choice about working, either. It’s what we do.
And not just wages, total compensation.
All these Obama 29er deals are hourly pay and not much else.
“Simply put, it seems clear there is a skills gap in the US economy that is nagging the labor market.”
I really doubt this.
Well with the cornucopia of welfare benefits and Obamacare subsidies, a job has to pay some real dough before it is economically (notice I didn’t say ethically) sensible.
There is definitely something wrong. Stable older people with high degrees (me) and evident intelligence (writing skills) but no recent experience are COMPLETELY UNWELCOME. I’ve spend hours on thousands of individual applications with kick ass intro letters of a variety of approaches and never gotten any response at all. Since I haven’t worked in a million years, I’m not counted as unemployed. And the worst reason to hire me, my having small kids that might get sick, is unknown to potential employers.
With thousands of applicants, getting a job with no specific experience is approaching impossible.
For severs $15/hour would be a significant pay cut!! If that ever happened here I would quit for a much easier job. I feel my years when hustling around during a rush!!
Seriously, tips are tremendously motivating and people like good service. It’s not rare for the other middle aged server and me to get tips of 20-30%. Thats why I don’t understand why no one is applying, it’s good money for few hours.
I think today a lot of places use algorithms to screen resumes up front. Stuff like age > 50 or degree year < 1980 may hit the trash folder automatically.
That’s a good point.
My SIL’s Dad drives a trash truck. He makes really good money (Teamsters). Most young guys coming in can’t pass the test to get (or keep) their Com’l Driver License.
They are always looking for help.
Thanks. Makes it easier to see the lying graphs of the Obama administration and its sycophants.
It’s a lie. Just like the pathological liar Obozo.
I remember a claim that much of the “skills gap” comes down to two things. First there is a set of employers that want to pay 2/3 of the going wage or less e.g. weld 3/8in stainless x-ray tested for $20/hr. The second is due to the bureaucratization and automation of HR e.g. we want 5 years experience with a software application that is less than 3 years old.
That said I think there are problems with ability to pass drug tests, and with lack of people interested in certain skilled professions. How many people hear high school students say they want to become machinists?
Come to Houston and you’ll find thousands of highly skilled engineers and scientists who would kill to secure a job.
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