Job Seekers Exceed Openings by Record Ratio of Six-to-One

Monday, September 28, 2009

The New York Times has a sobering piece about the state of employment in the U.S. today. Despite assertions by Fed chairman Ben Bernanke that the recession is over and the economy has started an upswing, unemployed Americans now outnumber jobs by a ratio of six-to-one and employment prospects are still getting worse.

Perhaps, President Obama should’ve stimulated Mainstreet instead of Wall Street? As I have said all along, a jobless recovery isn’t a recovery at all and Americans know it.

Shrinking job opportunities have hit virtually every industry this year. Since the end of 2008, job openings have diminished 47 percent in manufacturing, 37 percent in construction and 22 percent in retail. Even in education and health services, job openings have dropped 21 percent. Despite the passage of a stimulus spending package aimed at shoring up state and local coffers, government job openings have diminished 17 percent this year.

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9 Responses to Job Seekers Exceed Openings by Record Ratio of Six-to-One

  1. D.R.Scott says:

    What the fuck do people expect? Duh.

    The United States wilingly destroyed its manufacturing base and outsourced most of the jobs. We all can’t be cashiers at WallyWorld.

    The last I heard, capitalism only works if folks got the money to buy shit. Hey, somebody tell that commie rat Marx to stop laughing.

    And lately, the only thing a Visa card is good for is cutting your throat.

    Maybe I’m wrong, but wouldn’t it be a great idea if this country made a serious investment in our infrastructure? Besides creating jobs, it would make me (and a bunch of other people) feel better knowing the bridge I’m driving on ain’t gonna fall down.

    Fat chance. If the Republicans and the treasonous Blue Dog Democrats are able to kill the public option in Obama’s timid, not-so-ambitious health care plan, did you think they’ll let keep any of his other empty promises?

    No wonder my father idolized FDR. That was a president who knew how to get things done. As he told opponents of the New Deal, “They hate me, and I welcome their hatred.” Bipartisanship, my ass.

    In enacting sweeping social reforms, Roosevelt was more of a gangsta than Obama will ever be.

  2. Joe in Colorado says:

    The unemployment numbers are much higher for youth. 52% of 16-to-21 year olds are unemployed. I don’t know what the answer is or the solution. We’ve bailed out the banks and Wall Street and as you say, Bernanke says all is well now but, employers refuse to hire anyone. As the above poster points out, we don’t have a manufacturing base so, unless you’re a doctor, an RN or a radiological tech, there are no jobs left in the USA. The president had better deal with the jobs mess or the voters will toss him under the bus in 2012.

  3. Tao says:

    Oh, and conservatives believe that unemployment insurance makes people lazy and pays them NOT to look for work…

  4. 6-to-1 seems really low, especially when we hear stories around the country about thousands of applicants applying for 50 jobs at a brand new Wal-Mart store.

    I was talking about D.R. Scott’s point with a friend last night. How can we base our economy on consumer spending when consumers don’t have money to spend? Duh!

  5. JollyRoger says:

    It increasingly looks to me like the house of cards will have to completely collapse, and then something will have to replace it. Whether or not the replacement process is a violent one remains to be seen, but I sure hope it isn’t.

    The President is our Gorbachev. He knows what’s wrong, and what needs to be done to fix things, but he just doesn’t have the spine necessary to go against the established order and get things done. He really has done little more than re-arrange the deck chairs.

  6. Walk on Socks says:

    Somewhere I saw an article that claims in some regions of the country the ratio is 200 job seekers to each available job.

    This is knocking on the Great Depression’s door and very serious.

    I wish Obama would focus less on speaking to the United Nations and more on demanding corporate America starts hiring or there won’t be any more bailout money. Give the crybaby executives tax breaks but stop the tax breaks for off-shoring jobs to Mexico and China.

    If the president doesn’t reverse the jobs loss trend I don’t think he will win reelection in 3 years and he shouldn’t.

  7. DMason says:

    President Obama has been in office nearly a year and at some point, I think we need to start asking what exactly his administration is doing to encourage business to begin hiring. The DOW is going up and house sales have increased. What is the problem then with the employment picture?

  8. bradfrmphnx says:

    Some good comments. I can say that from my perspective, the problem with unemployment is the banks still are not loaning money. Take Phoenix for example. We thrive on growth that is funded from borrowed money. Something has to get the wheels turning again. When manufacturing and construction is taking the hits it is today, that is a HUGE chunk of private industry.
    Obama is trying to use some questionable (to some) economic principals to spur growth. I think he is headed in the right direction with putting the reigns on health insurance companies, but I am dubious on some of the banking bailouts. It has done nothing for unemployment. Wall street still has a capitalistic upper arm on main street. And main street is where the jobs are.

  9. Excellent comment, D.R. Scott. My guide to the state of things is I chat with store owners (small businesses where the owner is behind the counter). Just went to the neighborhood card store (in the Village) and the owner said he’s hanging in there, but even though we’ve had lots of tourists this summer, he said they were watching their spending. As for residents? Everyone, he said, is either laid off or afraid that he or she could be next. I know I’m hoarding cash and only buying necessaries even though I could probably spend more. I just don’t feel comfortable spending when we have “business consultants” at work who are looking for “cost savings.”

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