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Breakingviews: America's phantom jobs

Friday, November 07, 2014 - 02:51

Breakingviews columnists explain that it's not a skills gap that’s created the most open positions in almost 15 years – but a change in the way jobs are advertised and choosy employers.

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So the unemployment rate is now down to five point 8% in the US and dole looks like things are getting bad habit Stephanie you're looking at some of the numbers in the posthumous new decided that. Actually it has a little bit of the problem. And General Jones talking as what have you discovered. Right so that most recent talk to report released in October showed the no stop opening since January 2001 but. The hiring rate pretty significantly so. A lot of politicians and employers are quick to explain that on the skills got but if you look at actual job openings available there mostly in low wage let's go. So it episode yet knows to go. For almost five million job tightenings rent right but what you're saying is okay it's if you consider low end of of the market lower Abbas is we've we're talking about. Ball skills are needed it. It's kind of Campbell if I hit knees. To say it's about a lack of skill decides to just about employs not filling positions is almost going. You have rain with looking at the numbers it looks like in players are having trouble finding. Restaurant workers and rent and have retail record yeah. Well what's the others and they didn't he's also put out that and I university graduates are taking jobs from. From these can't control. Yes and then you're fed did add report. Recently that showed that. Reaching grads almost 44% of them are taking jobs that. Did it require a advanced degree right so what candidates look almost overqualified for the jobs available. So rob the other number that's visit wages opportunity getting up this must surely played into it somehow I. Well if you think about the natural rate of employment economists say it inflation tends to increase when you can read their fewer workers have helped. Think in unemployment profits probably around 5% according economic theory. We're still above that that moment that that have that terrorists are there and also a lot of people just aren't working in the period either home for various reasons perhaps they're going to college yen and that's his right hesitation rate is not as it's gone and it best this month but not a lot it's anti second lowest rate ever read it's it's really hard to answer that that provides an extra buffer black. And the other thing is you're stirs talking about how these. The openings have changed the way act employers advertised for openings yes change I was kind of interest Jim what's what's levity at the that's plays into the summer. Right so according says you know let's I carried that Craigslist post account as a job openings right now because it's so cheap and easy to coast. To those jobs nowadays you have to wonder. How much significance. Opening number really than Huntsman. Get lascivious acts took us through that. A rough thing to put as welcome will be back next week it will breaking t.'s.

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Breakingviews: America's phantom jobs

Friday, November 07, 2014 - 02:51