This blog is for discussing issues in our complex global economy.
A new way to look at unemployment. In others words, how much competition an unemployed person has for a job opening.
Wow, am I reading this right….there are approximately 5.5 million people unemployed per each job opening in 2009? That’s very frightening to hear. Being that I will graduate within the next year with a B.A., is why it’s a startling statistic. While I am obtaining the education, there may be some that have been given the opportunity to gain experience, which seems to be more so sought out by employers. Although, I now wonder would it be best to compete now while unemployment is so high or wait until that number decreases? While waiting for less of a competition seems to sound best, the demand later for employees will be less.
These recent statistics of people unemployed to that of job opening is quite scary especially for the students about to hit the job market out of college in a few years, more so for the students hitting the job market in upcoming months. It seems to be that with not many good jobs out and available, higher education seems like a good option, most student are already head over heels with loans, and what is the point of getting a job where it could be hard to repay them. I think taking a few more years in school for a higher degree may open up options for better jobs, and maybe in a few years there will be more jobs available.
These numbers are very very frightening. Especially for those who are searching for new opportunities, however, I do have a word of advise for those who are in the market for a new job. Don’t get discourage by these numbers there is still many companies in Sonoma County still search for new employees (My company is one of them) The game for job searching has change though. You have to approach it with a different plan. You have to use your resources more then ever before (its now about who you know)Companies are willing to hire new employees but from my experience with the company that I work for currently they are less willing to take risk with people who don’t have a connection to someone from within the company. Companies are willing to hire but are willing to hire those people whom are recommended from someone from within. So, continue to stay in touch with all the people whom you met throughout the years. You never know they may be your lead to your new career path in the future.
It’s easy to stop this train. Replace the democrat majority with republicans in 2010. We need to remember those in congress who voted for all this stuff.
Wow! These numbers are alarming. CNN reported there was a net loss of 467,000 jobs in June. These numbers rose from May which was reported as a loss of 322,000. The unemployment rate rose for the ninth straight month, climbing to 9.5% from 9.4%, and hitting another 26-year high. “Economists had been expecting that the unemployment rate would hit 9.6%.”(CNN Money) As well as the average hour work week fell to 33 hours. This is a catastrophic event in American history. How far will this go are the economists right, will this be about as bad as it gets, or is there more to come?
My friend just graduated from college but he has to look out of state for a job opening. My friend’s mom is just waiting to be let go, do to the fact they have be firing at least 5 people ever month. Its sad when you have to plan your schooling around what jobs are out there right now, because there is nothing.
I definitely agree with Erica C. My boyfriend just got a job because his cousin is a manager there and was able to put in a good word. It is scary for me as well, because I haven’t even transfered yet and I am the perfect college student looking for a job and I still haven’t been hired. I’ve had to go to a previous employer, back to minimum wage, just to possibly get a job. I still haven’t heard back! These times are dangerous for businesses too because they cant afford to hire and train somebody whos going to leave a weak later which is why they’re sticking to who they can trust.
I recently helped my supervisor review 56 applications to find out who deserves an interview. The last time we hired someone, the applicant pool was a lot smaller. Most of the applications this time were from people from totally different fields and most were not qualified. It seems people are just applying everywhere and are willing to take whatever they can get.
I am also a manager, and as ‘wongt’ alluded to, the sheer volume of applications that come in these days is staggering. There are so many overqualified individuals from fields that have nothing to do with mine that are applying for positions that pay 1/2 of what these folks should be making. It can be depressing, and thankfully I still have a job at the moment. It’s tough when you see a guy/girl that clearly has a family and needs a job, and they can’t find one. My wife works at Napa County, and all of the public services are being cut left and right, yet these are the services that everyone needs when they can’t find work…nasty spiral effect.
Well it’s no wonder it’s so hard to find a job! There are over 5 million people competing for a position. Aside from the unskilled workers that can’t find work, there are skilled workers with experience that can’t find work. And the people in school are at a disadvantage because of that. It’s carzy! When will it get better? Experience is what employers are looking for these days, so it would be best to try and aquire that now.
These numbers are actually one of the big things motivating me to stay in school and get upwards of a Masters Degree. Staying in school will keep me from having to fully depend on finding a job in those crazy statistics for a few more years. And the higher of a degree I obtain, I will be more desireable in the job market and may get a job easier that way.
These results are worrisome, especially when the rate has substantially increased steadily for the past few years. I hope all those who will be graduating soon with degree will have jobs to pay off the student loans.
Before you get discouraged about the job market, think for a second. To say that there are 5.5 million people unemployed per job opening is absolutely incorrect.
The U.S. department of labor said that there were 14.7 million unemployed in June 2009 (approx 10$ of the total workforce of 150 million).
Therefore, 5.5 million per job opening would mean there are only 3 jobs available in the United States.
To everyone – please do some research before you get discouraged, the JOBS ARE OUT THERE
The graph looks a little scary, but I bet if there’s no unemployment insurance, the unemployment rate would drop down a little bit, because I think the insurance kind of keeps people un-motivated. I also notice from my cousin who has lately been laid off that people only want to wait for the perfect job to come to them instead of taking whatever jobs available. There are still a lot of jobs available. It just depends on whether those unemployed people would take the jobs or not.
More evidence indicating our recovery may be a “jobless” one. We spend a lot of time examining the unemployment rate, but a study like this piques my interest in what percentage of workers are making a living wage. What percentage of them can afford to support a family on one income?
Maybe this country can’t be equipped to employ EVERY American, but if those who were employed could support a family without additional income assistance a few of our problems could be solved. The unemployment rate would drop, but more importantly we would have more families where at least one parent could be involved in the full-time raising of their child. Studies show that parental involvement is a key factor in children’s scholastic success, which indicates their future success in the workforce. If wages were raised so that families could subsist on one income and spend more time raising their children, if they wanted to, this would have a long term stimulative effect on our economy, potentially greater than creating jobs for the large numbers of unemployed workers.
Wow, this graph really paints a harsh reality for college graduates. Growing up, my parents told me, “Finish college and you’ll get a good job.” However, I do wonder what kind of statistics they used to make this graph in the first place. Does this include every job in the United States or did it use the amount of people laid off their jobs compared to the number of job openings (which must be really low)?
This graph really sheds light on the difficulty for recent graduates to find jobs. Not only is this pressure present for those who have been working for years and have recently been laid off but it is even more frightening and intimidating for students who have little expertise in the real world. While there has been constant talk of unemployment, there are still many jobs available for those who work hard. We must approach the entire situation keeping in mind both sides of the dilemma but there is no question that the job market is extremely unnerving for those who have been in school through most of the recession and will soon be plunging into the real world economy with little they can do to prepare for the intensity.
One thing we should remember is that the higher a person’s education the more likely he or she is to find and keep a job. There is an inverse correlation between unemployment percentages and academic degrees. So while the chart above may make some people worry or feel uneasy, I think it becomes a greater motivation to continue my education. I am not saying that we should take this news lightly, but we should take all of the relevant aspects into account. While there have been rising unemployment rates across the board and many lecturers and adjunct professors in the UC’s and CSU’s are not having their contracts renewed, the more education, the more training, and the higher degrees one has, the more protected a person is from unemployment.
I dont really understand this graph so much, but believe that there are not many job opportunities for the amount of people already unemployed. Not good for the recent graduates who are stuck out there with not much to look for, but of course there are the industries that are hiring, ex. engineering, health. Luckily I am in school right now, as I would rather be learning more and thinking about a better field, if there are certain fields with more job oportunities.
How depressing. Many of my friends that have recently graduated, even from degrees that once were in great demand like nursing, can’t find jobs. The nursing freeze in California, plus all the firing from different companies, has really made it hard for anyone, even new graduates, to find jobs. I agree with Amanda. I’m going to try to stay in school to increase my education and wait for the jobs to open up.
Not withstanding this statistic, it is a fact that the number of unemployed (not unemployable) is rising. The very question of having a great education and having value is questionable. It appears that the USA is now on the road of being a laggard behind all of the developed nations and some developing ones in the next decade. The concept of trust in our politicians, financial system, corporates, education insitutions is falling. Our financial institutions are being run by the greatest thiefs on earth, our health care system stinks, most states are bankrupt, the gap between the have and the have-nots are widening. Sounds familiar. Something got to give…..
Welcome to the USA powering to become the under developed nation.
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