Job Seekers v. Jobs
A glimmer of good news in the monthly Job Openings and Labor Turnover Survey released today: In July, there were more job openings than in June -- the first
Jul 31, 2020106K Shares4.8M Views
A glimmer of good news in the monthly Job Openings and Labor Turnover Survey releasedtoday: In July, there were more job openings than in June — the first positive month-on-month change since April. The number of advertised gigs rose 6.2 percent, to 3 million. (In Dec. 2007, before the recession started, there were 4.4 million available positions.)
Moreover, the ratio of workers looking for jobs to job openings turned down again, and now stands about 4.8 versus a high of 6.2. The higher the ratio, the greater the competition for available jobs. Here is a graphof the monthly ratio from the Economic Policy Institute:
That said, any improvement in the jobs market has been slight. And the jobseekers-to-jobs ratio has drifted lower at least in part because hundreds of thousands of discouraged workers have left the labor market (and therefore do not count in government data). EPI’s Heidi Shierholz notes:
“„[I]f we were to include not just the 14.6 million officially unemployed workers, but also the 2.6 million “marginally attached” workers (jobless workers who want a job, are available work, have looked for work in the last year but have given up actively seeking work and are therefore not counted as officially unemployed), the ratio would be 5.7-to-one.
Dexter Cooke
Reviewer
Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
Dexter’s insights into media, economics, and marketing shine through his prolific contributions to respected publications and advisory roles for influential organizations.
As an orthopedic surgeon specializing in minimally invasive knee replacement surgery and laparoscopic procedures, Dexter prioritizes patient care above all.
Outside his professional pursuits, Dexter enjoys collecting vintage watches, studying ancient civilizations, learning about astronomy, and participating in charity runs.
Latest Articles
Popular Articles