With So Many Job Openings, Why So Little Hiring?
By Peter Orszag Aug 13, 2013
This is an interesting article from Bloomberg and worth the read. There has been lots of talk about why hiring keeps lagging. Is it lack of skills, the Obama adminsitration? Please feel free to make your own comments.
“An odd puzzle is taking shape in the labor market: Over the past three years, the number of job openings has risen almost 50 percent, but actual hiring has gone up by less than 5 percent. Companies are advertising a lot more jobs, in other words, but not filling them.
To get some sense of how significant this is, consider that if, since June 2010, hiring had risen a third as much as advertised jobs have (rather than only a 10th), and nothing else were different, job creation would be roughly 500,000 higher each month, and the unemployment rate would already be back to normal levels.
So what explains the yawning gap between jobs open and jobs filled?”
via With So Many Job Openings, Why So Little Hiring? – Bloomberg.
