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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.

37 of 689 comments (clear)

  1. Let me fix that for you... by Anonymous Coward · · Score: 1, Insightful

    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.

    1. Re: Let me fix that for you... by Altus · · Score: 4, Insightful

      Right, I'll be over here holing my breath waiting for wages to finally go up.

      --

      "In America, first you get the sugar, then you get the power, then you get the women..." -H. Simpson

    2. Re: Let me fix that for you... by jeff4747 · · Score: 4, Insightful

      If that were true, salaries would be rising significantly faster than inflation. And should have been rising since the end of the last recession (roughly 2012ish, when you account for the people who lost jobs in 2008 getting re-hired).

      Salaries aren't doing that.

  2. Re:Ok by zlives · · Score: 5, Insightful

    there are jobs, but not well paying jobs. i think it has to do with all the profits the corporations are not making...

    o wait
    http://fortune.com/2017/12/07/...

  3. Re:Ok by sgt_doom · · Score: 5, Insightful

    Yup, and why are employers doubling down on yearning for younger and younger workers? If there were really a demand, as neither of us believe, wages would have shot up long ago, and my old employers would be bothering me and others without let up.

  4. Re: Ok by Anonymous Coward · · Score: 0, Insightful

    To be fair, as someone who lived there, Seattle people are really a "special" type. You could probably offer everyone free bars of gold if they would go to a specific place and they would still choose to lay around on the sidewalk.

  5. Re: Ok by Anonymous Coward · · Score: 5, Insightful

    Most homeless people have mental health issues.

    We don't do much for them.

    They probably wouldn't handle doing software development well.

  6. Re:Ok by bobstreo · · Score: 4, Insightful

    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?

    Just because a job is open, doesn't mean it's either

    A) A good job

    B) A job that's offering pay commensurate with experience,,

    Nobody but the truly desperate would even bother applying for jobs like these.

    That and of course the mandatory drug tests.... /s

  7. Re:Ok by Ichijo · · Score: 5, Insightful

    With H1B Visas getting shut down, they should be especially short on software engineers, shouldn't they?

    Correct, they lowball you just so they can prove that they can't find anyone to fill the position before (ab)using the H1B program for cheap labor. They don't expect you to actually take the job, nor are they willing to pay more to fill the position.

    --
    Any sufficiently unpopular but cohesive argument is indistinguishable from trolling.
  8. Re:Ok by Anonymous Coward · · Score: 4, Insightful

    "I demand to work normal working hours under sane conditions for a wage that doesn't require me to find 2 more jobs just so I can pay the fucking rent."

    "YOU ENTITLED BRAT!"

  9. Re:Thanks Obama by frank_adrian314159 · · Score: 3, Insightful

    Because he actually isn't? Somehow, I really don't care how good the economy is if my country is being looted by a bunch of crooks. And Trump's administration is the most corrupt in history.

    --
    That is all.
  10. Too much Fox News for you by DogDude · · Score: 4, Insightful

    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.
    1. Re:Too much Fox News for you by DogDude · · Score: 5, Insightful

      That's why they are leaving.

      That's a lie. California continues to grow.

      http://worldpopulationreview.c...

      socialist regimes always go broke. That is happening in real time in California.

      Also a lie. See last post.

      If you want to discuss facts, that'd be great. All you're doing is lying.

      --
      I don't respond to AC's.
    2. Re:Too much Fox News for you by schwit1 · · Score: 3, Insightful

      And the worst quality of life.
      https://www.usnews.com/news/be...

      California has worst US air pollution in the nation
      https://phys.org/news/2018-04-...

      California has the highest poverty rate in the nation
      https://www.latimes.com/opinio...

      Schools are 39/51
      https://wallethub.com/edu/stat...

      This is with a high state income and sales tax.

  11. Re:Ok by Dorianny · · Score: 5, Insightful

    Millenials grew up during one the longest economic downturn in history and have the heaviest student-debt burden ever. They are worst off financially then their parents at their age and are very likely to never be as wealthy as their parents. They bust their ass in the "gig economy" for little pay and no benefits and yet you consider them "entitled" because they prefer their cup of coffee differently then yours. Guess what, you are the entitled generations

  12. Re:Thanks Obama by jwhyche · · Score: 3, Insightful

    More corrupt than Nixon? An you can prove this how?

    More likely, he is doing a good job and it sticks in your craw that he is.

    --
    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  13. Re:Ok by Anonymous Coward · · Score: 0, Insightful

    because its true so I upvoted it.

  14. Minimum wage / gig economy or bad headhunting? by ErichTheRed · · Score: 4, Insightful

    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.

  15. Re:Ok by r1348 · · Score: 3, Insightful

    Dude, seriously, jump ship.

  16. Re:Thanks Obama by b0s0z0ku · · Score: 1, Insightful

    Our national debt per person is actually lower than many other developed countries. Americans are also often the creditors as well as the debtors -- in the form of bonds and bond holding funds.

  17. Re:Thanks Obama by Nethemas+the+Great · · Score: 3, Insightful

    Had nothing to do with Bush's wars. Nope, nothing at all. The cost and benefit of prior administrations never carries over to the next.

    --
    Two of my imaginary friends reproduced once ... with negative results.
  18. Re:Thanks Obama by Nethemas+the+Great · · Score: 4, Insightful

    Let's see how these trade wars, financial and environmental deregulation, consumer protection gutting, etc. pan out first before we assign the "pretty decent job" title to him. The state of the nation doesn't turn on a dime. For good or bad, the momentum from previous administrations has a rather significant reach into the next. Unless your definition of "pretty decent job" translates to "hasn't caused nuclear winter," we've some wait and see to do.

    --
    Two of my imaginary friends reproduced once ... with negative results.
  19. Re: Ok by rwrife · · Score: 1, Insightful

    I was walking around Seattle last night and in front of a coffee shop with a âoeHelp Wantedâ sign was a guy begging for money....apparently he didnâ(TM)t need the money enough to just turn around and ask for work.

  20. Re:Ok by Anonymous Coward · · Score: 5, Insightful

    I'm fucking sick of seeing useless boomers, who got a helping hand from the government at every step of their privileged lives of luxury and ease, rant about the greatness of hard work and how millenials just don'try try as hard as they did.

    Your generation is the one that sold off the productive economy and pulled the ladder up after you, the first generation in a long, long time to give their children less - and even now you continue to try and siphon off wealth from the people who are forced to clean up your mess.

  21. Re: Ok by omnichad · · Score: 4, Insightful

    That's dissociative identity disorder. Schizophrenics will hear voices or see hallucinations - it's an issue with properly processing signal vs. noise.

  22. Re:Ok by omnichad · · Score: 4, Insightful

    If by entitled, you mean entitled to a job after paying a fortune for college, then you're probably right. That's how most if not all of them were raised, because it actually worked for their parents.

  23. Re:Thanks Obama by jwhyche · · Score: 4, Insightful

    Proof isn't the problem, the problem is the Republicans not impeaching him despite it all.

    Proof is a problem, in that there is none. There is a lot of hearsay, but no proof. Can't impeach without proof.

    But then what? Have you thought what happens if Trump is impeached? Do you think there will be a do over in the election or that Hillary will be carried in on a gold throne? No you get Mike Pence, think about that for a moment.

    You progressives so worried about what Trump might do, you never think about what removing him will do. Trump is a political outsider. He spends most of his time fighting his own congress. Pence will not have that problem. He is a political animal, and knows how to get things done. He has the contacts and clout to pull it off. Plus he is thinks he is on a mission from god to put gays back in the closet and women back in the kitchen. He will set our country back 30 years.

    --
    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  24. Re: Ok by dryeo · · Score: 5, Insightful

    Or was unemployable for other reasons such as no way to keep up on personal hygiene due to being homeless or perhaps he got busted many years ago for having a joint.
    As others mentioned, there's also mental illness, coffee shop probably doesn't want to hire a mumbler or someone who can't help but curse customers.

    --
    https://en.wikipedia.org/wiki/Inverted_totalitarianism
  25. Re:Thanks Obama by dfenstrate · · Score: 2, Insightful

    I would argue that the ACA was a net negative, though, and possibly worse than doing nothing in the long term because of the backlash. ACA was the Republican plan, and it sucked in a lot of ways. This got in the way of the single-payer system that we actually need, which would actually work.

    Republican plan? Are you out of your mind? The ACA was passed on a party-line vote with procedural tricks to ensure no Republican opposition could stand in the way.

    --
    Alcohol, Tobacco and Firearms should be the name of a store, not a government agency.
  26. Re:Ok by jwhyche · · Score: 4, Insightful

    But who's fault is that? How many of these degree's are for markets that is already saturated? They don't find jobs in these areas because they are none. But what there is, is plenty of jobs in blue collar areas. The country needs plumbers, and welders, there are plenty of jobs there. But so many millennials think these jobs are beneath them.

    --
    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  27. Sneers from an Old Economy Steve by Uberbah · · Score: 4, Insightful

    But who's fault is that? How many of these degree's are for markets that is already saturated? They don't find jobs in these areas because they are none. But what there is, is plenty of jobs in blue collar areas. The country needs plumbers, and welders, there are plenty of jobs there. But so many millennials think these jobs are beneath them.

    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".

  28. Re: Ok by triffid_98 · · Score: 4, Insightful

    Um...it's what was (collectively, not you personally) told to the machinists and steelworkers other displaced professions (soon to be taxi drivers and semi truck operators) once a million of them lose their jobs. Many are not suited for it and few of them with zero experience in their new field at 40+ are going to be snapped up like that, even if they can afford to re-skill (many cannot)

  29. Re: Ok by schure · · Score: 2, Insightful

    And slavery was a choice, right?

  30. Re: Ok by Anonymous Coward · · Score: 2, Insightful

    Bullshit, homeless in Seattle because hiring is in fact abysmal.
    Amazon and Microsoft still advertise jobs as required by law before they hire H1B.
    Those job listings aren't meant to be filled, stop spreading lies about "healthy" job market.

  31. Re:Thanks Obama by sjames · · Score: 2, Insightful

    Naturally, the Republicans hate the Democrats so much they won't even vote for their own plan if a Democrat agrees with it.

    That's what the party of NO is all about these days.

  32. Re: Ok by peragrin · · Score: 3, Insightful

    Also wages are not rising. A healthy job market the wages should be jumping up a lot. But are at best medicore increases

    The tax cuts are doing more to harm economic growth as the money corporations got are going to shareholders and not bieng used to expand and growth.

    --
    i thought once I was found, but it was only a dream.
  33. Re: Ok by bigman2003 · · Score: 4, Insightful

    I've owned businesses. Landscaping and printing.

    I tried to hire homeless people. I've gone to the guys holding the signs and said"hey...I have work for you...help me mow lawns for the day $12/hr. And I'll buy you breakfast and lunch."

    I did this a LOT. I did not care about appearance, criminal record, etc. They didn't need to plan ahead or meet me later. I offered immediate food, etc. Etc.

    Over the course of a year I had ONE person take me up on it. He was a good guy, worked with me for like 2 weeks before he disappeared.

    Whenever people talk about all of the hurdles for these people to get jobs, I know that when I took away every single hurdle...they said "no".

    In my experience these people are on the street because they prefer it to the other options. Not because they don't have other options.

    --
    No reason to lie.