Too many job seekers, not enough jobs
By Jessica Dickler, CNNMoney.com staff writerJanuary 12, 2010: 11:02 AM ET
http://money.cnn.com/2010/01/12/news/economy/jolts_november/index.htm
This article is based on the labor market and the recent available openings in the job market. The ratio 1:6 of the number of job seekers to the number of opening is astounding. The article is just another reminder that even though the US economy is recovering, the job market is still very tight.
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ReplyDeleteThe ratio is 1:6. It is absolutely not a good news. The ratio above indicates that some job seeker may stop seeking for jobs because it is hard to look for one. In fact, the number of people moving out of labor force last quarter increased. This decrease in labor force negates our effort lower the unemployment rate. Although there is an increase in the number of jobs last quarter. Our current unemployment situation is still unchanged and very severe (currently at 10%).
ReplyDeleteI agree with T.R. in the sense that the ratio indicates that job seekers may stop looking for jobs due to the 1:6 ratio. If people stopped looking for jobs, the unemployment rate would be lower due to the definition of unemployed (out of work but actively looking for work) - which might give other job seekers hope which is clearly false. On the surface, a low unemployment rate might seem good - however in most cases this means people took themselves completely out of the labor force.
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