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Jobs Report - Lower than Expected Jobs Growth

At this point, I think that number (around 8%) is just going to be the norm for a while. There are open jobs out there. Millions of them. And those jobs aren't going to be filled until there is an educated workforce capable and qualified to do them.
 
Deadbolt said:
At this point, I think that number (around 8%) is just going to be the norm for a while. There are open jobs out there. Millions of them. And those jobs aren't going to be filled until there is an educated workforce capable and qualified to do them.
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This just isn't true. The jobs crisis is caused by weak demand, not mismatch.
 
If only there was some way to pump up demand or if we had an institution that was supposed to maximize employment!
 
Wait, we have one of those: "The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

Huh. Who would have thought?
 
bobknightfan said:
Should help the 70% of my 401K portfolio that is in bonds. (This has been a great run for bonds the last few years. Not often can you get close to a 10% total return with such a low level of risk. Perfect for my situation!)
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That is an awful selfish way of looking at things...especially for a good altruist like you.
 
printing-money.jpg



 
he got his already. everyone else can go fuck themselves.
 
Deadbolt said:
Very interesting. I only had time to read the abstract, but I'll read more later. I based my statement on recent articles I had read where many employers claim a lack of qualified candidates for why open positions aren't filled. Does the paper address that?
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Yes. Basically, the number of such positions is the same as it normally is. Also important to remember that when the economy is at full employment, employers do this magical thing called training workers to do the jobs. With so much slack in demand, employers feel they can wait for pre-trained job candidates.
 
TuffaloDeac10 said:
More here: http://www.kansascityfed.org/publicat/sympos/2012/el-js.pdf

This mismatch myth is really problematic, because it prevents actual solutions to the actual problems.
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I'm not going to take the time to read that right now, but I'll tell you that I see and hear about mismatch all the time. I work along side with, call on and deal with manufactureres on a daily basis.
It may be overstated, but there are jobs out there for people with skills but there aren't enough people with skills.
The biggest problem I see is that these skilled jobs are in "less desirable" places (not bad places, but less desirable) and people just don't want to move.
 
At the gym this morning I saw that the percentage (something like 62-63%) of people in the workforce is the lowest since 1981. That worries me far more than any of the other statistics. No way that is sustainable.
 
bobknightfan said:
That's pretty much what Bill Clinton said the other night.
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And he was wrong. Not to say that there aren't anecdotal stories of jobs that aren't being filled because the employer doesn't like the potential workers and their current abilities, but that utterly lacks explanatory power for this jobs crisis we're in. Unemployment is high because demand is weak.
 
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