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There Are More Jobs Than People Out of Work, Something the American Economy Has Never Experienced Before (cnbc.com)
The jobs market has reached what should be some kind of inflection point: there are now more openings than there are workers. From a report: 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 this week, 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 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. Further reading: Why Nebraska has an amazing jobs market but nobody is moving there.
So why are headhunters still calling me up and trying to lowball me on software developer contracts? With H1B Visas getting shut down, they should be especially short on software engineers, shouldn't they?
I've abandoned my search for truth; now I'm just looking for some useful delusions.
Where we kinda had to allow women to work because we didn't have enough men to do the jobs available?
There Are More Part Time/Low Paying Jobs Than People Out of Work, Something the American Economy Has Never Experienced Before
Yeah - death by minimum wage.
Not so. Just keep crying snowflake. America is #WINNING.
Before you give credit to Trump, this is the tail of the economy that Obama revived. See Bare Stearns.
Like MLMs and sales. Even traditional low wage jobs are getting automated away. When real jobs come back and don't require years of experience for entry level jobs then we can say there is an employment glut.
There are anywhere from a few million to tens of millions depending on the accounting who just gave up on finding a new job and are not counted anymore.
Labor pool stats are just relative to what we call a proper labor distribution anyway. If 10m millennial women suddenly dropped out of the workforce over a decade to be stay at home wives**, they'd probably call them unemployed. When men who did jobs that were outsourced give up, they call them participants in a ghost economy we won't^H^H^H^H^Hcan't measure Because Reasons.
(**bwahaha you don't think corporate America welcomed a massive influx of women into the workplace out of "repentance for sexism," do you? They found religion on "equality" because adding tens of millions of working women to the economy crippled the ability of the men and lower class women to negotiate with them a la wages.)
for corporations doing poorly to advertise for nonexisting jobs. I recall back in the 1990s, when a local company called Traveling Software, kept advertising for positions after they had laid off over 60% of their workforce --- and surprise of surprises --- they never bothered to fill any of those advertised-for positions.
Yes, there are more jobs available, but employers don't want to take a risk or train anyone who doesn't immediately fit what they're looking for, so they don't hire anyone.
They're also not willing to raise pay, so there's no real reason to switch jobs.
Anyone on the sidelines can't get those jobs without the qualifications and anyone with them won't change because they're not willing to offer any pay increase.
He is trying to put the people working at the unemployment office out of a job.
Ignoring the U6 column on the labor statistics again?
I bet so. Howzabouts all the people - especially us 60+ - experiencing age discrimination who aren't even being counted any longer?
Why are wages not rising? Middle class jobs disappearing?
garbage
No one knows treason like the Russians. Isn't that how Putin got into power.. by blowing up an apartment block and blaming it on terrorists?
Are these jobs those that require knowing how to use a shovel or jobs knowing how to use advanced programming languages, jobs requiring advanced knowledge and experience in synthetic chemistry, chemical engineering, health care positions such as nursing, structural engineering, architecture, financial management, finish carpentry....? The nature of the openings will make a big difference in the statistic discussed.
In a time of universal deceit, telling the truth is a revolutionary act. George Orwell
Oh look it's the asshat who cries Donald again.
First, there are plenty of people for these jobs but the government doesn't consider them "looking" because they haven't actually looked for a job in the last week or so. It's why the unemployment numbers aren't really that accurate.
Second, and this has been going on for decades, employers will put up fake jobs in that the position doesn't exist, but the employer wants to get a feel for who is out there and what they want in pay.
Third, as the most recent jobs numbers showed, the largest portion of job creation is service jobs. i.e. low wage positions. One could argue that an increase in service jobs is a reflection of a growing economy, it could also mean that automation is taking away some of the more manual jobs which pushes down employment for those who would have done those jobs, thus revealing the only job growth is at your local Kwik E Mart rather than a production line. Since one can't live off those wages, they don't bother applying for such jobs.
While the numbers indicate more jobs than people looking, as the con artist would say, they're fake.
You've been ingesting too much Fox News. They've been lying about California's economy for years.
http://www.foxnews.com/opinion...
I guess the idea that high taxes and reasonable regulations work pisses off the Ayn Rand-ites, so they have to constantly say that it's failing? That's some serious cognitive dissonance. You should probably get your head out of your ass.
http://www.latimes.com/busines...
I don't respond to AC's.
Something tells me these numbers are being manipulated. If things really were that good, employers would raise wages. You'd have fast food places offering $20/hr to flip burgers if they needed the labor that badly. Also, including every "job" regardless of full/part time status and suitability is misleading. No one who spent a reasonable effort getting a college degree wants to be working a minimum wage retail job. If all the jobs advertised were professional jobs, or even high-paying factory work this would be an actual story.
One other problem especially in the tech and IT fields is the huge mismatch between employers/employees and the absolutely crappy hiring/headhunting process. Employees lowball their offers, headhunters have zero clue about the jobs they're advertising, and there's a massive fetish for anyone under 30. God help you if you're in your mid-50s and end up on the wrong end of an offshoring/outsourcing. The 28 year old MBA in HR is going to assume you're a dinosaur and immediately pass you over.
It's sure better than 10+% unemployment, but let me know when employers are offering solid, well paying, stable full time work. You can't expect anyone with a family to want to string together 3 part time gigs plus some Uber driving on the side. It's great for the unattached, but a bad way to encourage stable home lives for people.
There is some irony that Trump got elected promising to cut work immigration and revive coal, and the time economy would need more work immigration, and coal energy gets more expensive than renewable.
I keep getting recruiters trying to recruit me for things that I am not qualified for. If I don't need to know XYZ Tech don't put it on the job listing, but if I in fact really do need experience with XYZ Tech then why the fuck are you spamming me for something you won't actually hire me for?
We'd have all the workers we need had we not aborted millions of Americans. Who knows, we may have killed the one who would have discovered the cure for cancer or invented warp drive.
Science calls it "cause and effect". I call it, "You reap what you sow."
misleading as fuck. the 'jobless' or 'job seekers' is based upon new unemployment claims for a given period, which many don't apply for or are eligible for.
so it's not that there are that many new jobs out there.. it's that sooooo many people have given up looking, have taken shitty part time work instead, or simply exhausted their unemployment.. and none of them count anymore
I don't understand why the sudden need for deporting immigrants and all those tariffs (even on goods from coutries doing nothing wrong) if the economy is doing so great that there aren't enough employees for all the jobs.
Could it be that it's all bullshit? Or maybe deporting tens of thousands of workers is why there are so many unfilled jobs?
dom
The comments in this thread are HILARIOUS.
Lib types, falling all over themselves trying to avoid the ugly truth...Trump is GOOD for the economy.
Sorry, but Obama = record unemployment.
Trump = inverse unemployment, for the first time since they've been keeping track.
NewOOOOOOO! ( Cartman voice)
This year is the first time the level of the unemployed exceeded the jobs available since the BLS started tracking JOLTS numbers in 2000.
That's what it says, from the fumble-foot mouth of the government.
"There are now more jobs with shit pay and zero benefits than people willing to suffer working them."
That needed fixing.
Your mind is like a parachute. It works best when it's been opened.
This must be Obama's doing even though he said the jobs weren't coming back.
It's Trump's fault. Blame him!!!
We are overdue for a recession. I warned you.
Table-ized A.I.
I'm hiring just for like 40% less than market rate. Otherwise HR just stops the process.
Obama forced the country to do the difficult thing and build an economy slowly, that could stand the test of time and grow at a REASONABLE rate and sustain jobs and a better standard of living. Just look at what Obama's economy has done for minorities. The unemployment rate among blacks is lower than it has ever been.
Now we have a bigot in the White House trying his best to torpedo the economy, but thank God Obama did things smartly and in ways that would be difficult or even illegal to try to undo. I just pray we can elect more democratic socialists like Bernie Sanders the next time around so we can get the economy back on track in a way that is fair for everyone.
Trumps rigged apparatus produced this bullshit.
The article isn't specific as far as I can tell but is this in terms of dollars or in terms of percentage? e.g. an increase from $5/hour to $8/hour is a 60% improvement but the end result is still terrible.
The analysis you refer to is an egregious deception.
It states, "Thirteen days before Obama took the oath of office, the CBO forecast a total 2009-19 budget deficit of $4.32 trillion. Instead, Washington is set to complete that decade with cumulative deficits of $8.93 trillion – $4.6 trillion higher than projected."
Obama took office in FY2009 - the final Bush budget year. The deficit peaked at $1,413 billion in FY2009, due mainly to the collapse in tax revenue after the 2008 financial crisis. As the economy recovered, under Obama, the deficit decreased by more than half, falling to $665 billion in FY2017, the final Obama budget year.
https://www.usgovernmentspending.com/federal_deficit_chart.html
The real explosion in the deficit occurred under Bush. He inherited a balanced budget and through wars of choice, tax cuts during those wars, and a collapsed economy, turned it into a record $1.4 trillion deficit.
But as Bush's own vice-president infamously said, "Reagan proved, deficits don't matter."
First, millennials are sneered at if they want a living wage without having a degree. Have to better yourselves to be employed, doncha know.
Next, millennials are sneered at for not being clairvoyant to pick the exact degree that will be in demand when they graduate (You Are Here).
Finally, don't forget to sneer at those millennials for "taking on student loans they couldn't afford".
As epitomized by:
CNBC states it, so it must be true? Come on ... I don't believe this article on little bit. The jobs I see posted in my area for "entry level" are asking for all kinds of experience. I just have a general distrust of corporate media.
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China purchased US treasury debt for control of US policy, but also to prevent American economic problems. There is inflation that provided a long-term boom in the stock market without any fundamentals, though prices of goods have been kept under control, including energy/oil which is of great importance still. Wages are the last thing to rise due to inflation, and that assumes the labor market is fair. That means, it assumes that technology companies don't blacklist people to prevent pouching in-between technology companies. There is no union for technology workers and there is no trustworthy certification for technology workers, so all technology jobs focus on entry-level skills with projects that normally fail, because it makes financial sense. If they have to do a project 2 or 3 times to have something worth using, that must be cheaper than having highly paid people that everyone agrees have the appropriate skills.
$850 in 1977 is about $2500 today.
https://www.saving.org/inflati...
That literally took less than 10 seconds on Google
But the problem is that some of these jobs require attributes that many out of work people don't possess. You can't make a person who has the IQ of a chimp do the job of a man.
While probably not fully explaining the numbers, one can reasonably surmise that these factors pushed the needle a bit. Companies post job listings for short-term contracts for specialized developers all the time, some before their project can even hope to see funding. Then the headhunters see the job listings and make redundant job listings. I dealt with a lot of that crap after my last contract but now I'm somewhere I like :)
Damn, should have typed FY2018 not FY2017. FY2018 was the final Obama budget year. But the point still holds, the deficit fell by half under Obama, and the build up in debt was mostly due to Bush's wars, tax cuts, and the financial crisis.
https://www.whitehouse.gov/omb/historical-tables/
Dammit again, had it right the first time. Election was 2016, last Obama budget year was FY2017.
Nothing said about the nature of the jobs or the wages for them. Nothing about the cost of health and accommodation. Nothing about the numbers of people that are no longer counted as looking for work.
So, things are clearly looking up. There are even concerns over wage inflation. Translation, research worth less than a used happy meal.
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Someone had to say it. :-)
I have friends with 4 year networking degrees, certs and 4+ years in the field working at KFC and Walmart. This may be true, but but only because people have given up on real jobs and are working garbage jobs just to get by.
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Those are genetic dispositions and socializations. If I'm trying to fix a full stack web Problem every day all day for months or years in a row it will have an impact on my emotional and mental composition. ADHDs are hunters and gatherers in a settler and farmer world.
I've enrolled in college recently and have a Projekt group made up of me (48, senior developer) and three 19 year old nerdboys. And I mean total all out over the top excess nerds. These guys couldn't care less about their appearance or habitus. They do still care but only to the utmost minimum. They care orders of magnitude more about getting our little Java thing done with and back to playing with a bazillion PLs, getting into C++ and trying out that new Tensor Flow thing.
Linus Torwalds would be a abysmally shitty dancer (I presume) but he's one of the best Programmers in the world. That's also due to his mental composition.
We suffer more in our imagination than in reality. - Seneca
This is pretty spot on. In a cyberpunk post scarcity economy practical stoicism is an attractive option. As an IT expert I could easyly earn 80 000 Euros and more even without having a degree but I chose not to.
I spent the better part of my last decade working part time, social dancing as a Tango Bum / Tango Nomad (yeah, there is such a thing :-) ) and generally taking it easy. I'm now ramping up to rake in a little cash to get myself some Microappartment or micro house for my old age while at the same time embracing minimalism even further. But still it's part time work and part time college. Wouldn't want it any other way right now. I'm ok with wearing 8 Euro t-shirts as standard garb and riding the bike and public transport. And doing my yoga with YouTube and not in some expensive class.
We suffer more in our imagination than in reality. - Seneca
And guess what the homeless don't have?
The ones you blame aren't at fault, all YOU are doing is whining and JAQing off all over the thread to make it the "brats" fault. It isn't. The fault is the ones in power AND THE EMPLOYERS NOW WHINING. You wanted to cut costs by getting pre-skilled workers and now that every other company does it, nobody is getting skilled any more and so you aren't getting hires like you want. And yet you blathered on about how they needed an education (like you) and they will get that job that pays well. But you also then pointed to the wide world and said "I cannot afford to pay you a better wage because other people are paid less so I would go and get them instead".
Whose fault?
Yours.
This is supposed to be a free market for jobs and if you don't like the pay or conditions, you're told not to take the job. So now people are not taking the job, it's suddenly a BAD thing??? How does THAT work?
If the only way you can get people to accept your job vacancy is by putting the threat of starvation and death for their family on your side, then you're NOT offering a job. You're demanding a slave.
The personal enrichment he got from china for helping them get jobs is illegal.
Or so the idiots who worship the television keep parrotting - after all, the TV told them so!
Why work when you can collect unemployment and food stamps, while living with your parent's until you are 45? Plus, the more illegitimate children you have, the more benefits you receive - bang away!
Northern Europeans would fight to the death rather than be dishonored by Slavery.
At the first opportunity, kill the masters and burn their plantation to the ground.
A little fire and some grease is all that takes.
MAGA, Motherfuckers.
This is all part of TrumPutin's plan! Stop trolling, Ivan! Traitor! Collusion!
I dont trust any numbers that come from the Trump admin. How can we know these numbers are not fudged? Many of his dept heads have been very manipulative with data they put out.
I graduated HS under Regan; the guy who started the whole "War on Drugs" while importing Cocaine for money for weapons for Iran.
They MADE the entire Drug war, which we know now was a war on the poorer classes.
Hell it wasn't a problem until little White Girls started fucking Black men for Cocaine, then it was a Scourge.
We are still living that lie, as a country.
This is just the latest round.
Truth isn't Truth - Guliani
Who the fuck would buy a used mattress from Trump?
lol.
Truth isn't Truth - Guliani
And how many of those jobs does someone need for a living wage? There's a rise in insecure and part time jobs.
Trump deported many low wage jobs as illegal immigrants. Now of course those positions are open for takers. but no American wants to do this dirty task for so low earning.
Atari rules... ermm... ruled.
My employer provides a vending machine that produces weak coffee that tastes like a mixture of all the flavored options it has ever vended with just a touch of machine grease. It costs slightly less than the Starbucks in the cafeteria. They also provide a k cup machine with a filtered water supply, but it has the same flavor problem and you have to provide the kcup. "Mmmm, hazelnut mocha vanilla oolong cinnamon lady grey Columbian French breakfast Vienna roast, my favorite!"
refactor the law, its bloated, confusing and unmaintainable.
When times appear tough, do we pull together? Or do we point fingers and continue tearing things apart? One can see the answer just by reading all the other comments here. Each generation has turns against the others, rather than sticking together. I'm telling you, folks, this is how things fall apart. Don't say we didn't tell you.
The jobs are crap jobs that make minimum or below minimum wage.
Restaurants are cutting back employees.
Stores are closing all over the place.
Factories are replacing workers with robots.
This story is nothing but propaganda used to justify more immigrants coming into the country.
Whether or not he actually had anything to do with it and whether or not these are real jobs or temp jobs at fast food places doesn't matter. He will take credit for it and his approval ratings will remain high enough for reelection.
Housing speculation has absolutely screwed up the cost of living for any job center and thus a company's profitability standards are at odds with being able to pay people enough to work their jobs. As a result, people need to commute farther than in the past, those transportation systems get over-burdened, and then we all pay higher taxes for freeway widening which never actually improves one's commute. It just allows more people to have the same slow commute.
It all still comes down to property policy. Investors went NUTS banking on the profitability of housing from the 1990s through 2007. They made a lot of money so when the smoke cleared and homes started bottoming out, they invested again. And it's not just corporate investors, it's private investors who probably don't even consider themselves "investors". The trend of "buy, appreciate, move, and then rent-out" is now a private home finance staple. In fact, there are so many companies out there now to HELP you become a land lord, it seems like you'd be crazy not to do it. "I got mine."
And we're in another housing bubble. A colleague of mine recently retired and is downsizing from his 3b/2ba home to a 2b/2ba condo. He and his wife just sold for $70,000 over asking... all in cash.
It's not a wage problem, it's a housing speculation problem. If we want to solve the problem, the main problem areas the states where this is a bigger issue NEED to make big change... likely by increasing property taxes on non-owner-occupied single family homes. Then the cost of housing will drop and THEN you'll see demand for a more rational minimum wage increase... because right now the $15 minimum wage doesn't prop anyone up but landlords.
There's no health issue at all with most of the spectrum.
Probably the correct term is environmentally challenged—they just don't fit the Department of Education's main-sequence all-weather Cinderella slipper, not without great difficulty.
But, inshallah, they often get along in life just fine, once they dial into their unique groove, sufficiently off the beaten track of the main sequence.
The rare Anchorage Ethiopian also has a his own special personal "health" consultant, only in this case it's not some doctor with extensive training in the vagaries of human cognition and a well-thumbed DSM-V groaning under his desk, it's some junior sales flunky at Mark's Work Warehouse (or the Alaskan equivalent) who's A+ on layering pull-over parkas.
Lay it on me!
Baby, it's cold out there!
And then they set to work.
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So exactly what do they mean by "jobs"?
Are these positions that a person can work at and not need to have a 2nd or 3rd job just to make a living wage?
Or are they all minimum wage, no benefits, no chance of advancement type jobs?
Since the pretendsident is scaring away people who normally take those kinds of jobs, it's no wonder there are a lot of them.
Hasn't the administration been working on this very thing diligently?
I would like to see a study that compares the average salary unemployed people were earning prior to unemployment in comparison to the average salary of the unfilled jobs.
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A small number of companies have bought up just about everything and they don't compete with each other on wages. Add outsourcing and H1-Bs and wages stagnant. The final piece to the puzzle is that labor is no longer organized and so there's no pressure to increase wages from Unions.
As for why economists aren't talking about this, well, the Koch Bros and the like have been buying out cash strapped University departments with hefty donations. When that doesn't work they just get buddy buddy with deans and the like. And if all else fails these are public Universities and they can use their political connections to get what they want. Some of the big schools like MIT will still buck the trend, but then again they own the media now so they can keep the occasional study that blows up their narrative out of sight and mind.
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we could pay off the national debt in about 15 years from the money we'd save switching to single payer healthcare. Look it up.
Hi! I make Firefox Plug-ins. Check 'em out @ https://addons.mozilla.org/en-US/firefox/addon/youtube-mp3-podcaster/
Damn deceptive headline.
"This year is the first time the level of the unemployed exceeded the jobs available since the BLS started tracking JOLTS numbers in 2000."
Is that not the opposite of the heading?
Not only have there been labor under-runs, in the 1940's even ditch diggers were in demand
It is only now that Capitalists think there is something wrong with paying high enough wages to get the people they need.
Housing shortage for workers? Not if you pay them $200K!