Why its so hard to find a job right now.

[Greddypacked]

Job competition toughest since recession began
Competition for jobs at highest level since recession began, 6 unemployed pursue each opening

By Christopher S. Rugaber, AP Economics Writer
On 7:42 pm EDT, Friday October 9, 2009
Buzz up! 0 Print.WASHINGTON (AP) -- The number of job seekers competing for each opening has reached the highest point since the recession began, according to government data released Friday.


AP - Charts shows number of people unemployed per job opening available since ...
The employment crisis is expected to worsen as companies stay reluctant to hire. Many economists expect a jobless recovery, putting pressure on President Barack Obama and congressional Democrats to stimulate job creation.

There are about 6.3 unemployed workers competing, on average, for each job opening, a Labor Department report shows. That's the most since the department began tracking job openings nine years ago, and up from only 1.7 workers when the recession began in December 2007.

The highest point after the 2001 recession was 2.8 workers per opening in July 2003, as the economy suffered through a jobless recovery.

Employers have cut a net total of 7.2 million jobs during the downturn. While layoffs are slowing, Friday's report shows the other critical piece of a labor market recovery -- hiring -- has yet to begin.

"Fewer people are facing job loss," said Heidi Shierholz, an economist at Economic Policy Institute in Washington, "but once you have lost your job, you are in serious trouble."

The department's Job Openings and Labor Turnover survey found less than 2.4 million openings in August, the latest data available. That may seem like a lot of jobs, but it's down from 3.7 million a year ago and half its peak in June 2007. It's also the lowest tally on nine years of government records.

At the same time, the number of unemployed Americans doubled from the beginning of the recession to 14.9 million in August.

Economists fear the job market will take years to recover.

Shierholz said the economy faces a "jobs gap" of almost 10 million -- the 7.2 million jobs lost plus the roughly 125,000 per month that would have been needed since the recession began just to keep up with population growth.

To close that gap and get back to pre-recession levels in two years would require more than 500,000 new jobs per month, a pace of job creation that hasn't been seen since 1950-51, Shierholz said.

Most analysts expect the nation to keep losing jobs through this year and the unemployment rate to peak above 10 percent by the middle of next year, even as the economy starts to recover.

"The recovery in output continues to be unaccompanied by a recovery in jobs," said Nigel Gault, chief U.S. economist for IHS Global Insight. He expects the unemployment rate, currently at 9.8 percent, will be at 8.6 percent in 2012.

Cynthia Rosso, a Potomac Falls, Va.-based marketing and communications professional laid off in March, is painfully aware of the competition she faces.

A networking group where she once announced jobs she was trying to fill as a manager is now dominated by people looking for work.

"Very few people get up and say, 'I have a job to offer,'" she said.

Rosso went to a job fair over the summer but turned back after seeing a line snaking around the building. She later heard that 3,000 job seekers showed up to vie for the attention of a handful of employers.

The jobs crisis is likely to have political repercussions. The last time the unemployment rate topped 10 percent, in 1982, President Ronald Reagan's Republican party lost 26 seats in midterm elections.

Congressional Democrats are working on various proposals to both provide relief to the unemployed and create jobs. The House and Senate have both agreed to extend jobless benefits, though the two bills have to be reconciled.

House and Senate leaders also are considering extending an $8,000 tax credit for first-time homebuyers, and creating a new credit for companies that add jobs.

Still, Republicans in Congress say rising joblessness and the talk of additional policy moves demonstrates that the administration's $787 billion stimulus package hasn't worked. Administration officials contend that job losses would have been worse without it.

The Federal Reserve, meanwhile, is expected to keep the short-term interest rate it controls at a record low near zero until sometime next year, in an effort to bolster the economy. High unemployment makes price hikes less likely, but some analysts fear inflation could result if the Fed waits too long to raise rates.

Economists offer several reasons why companies aren't hiring. Many employers laid off huge numbers of workers earlier this year but have since found that productivity jumped, enabling them to maintain output.

Christopher S. Rugaber, AP Economics Writer
"For now, many of them are trying to find out how far they can push that," Gault said.

Many employers also are unsure about whether the economy can continue to grow once the impact of government stimulus fades and aren't likely to hire until that uncertainty eases, Gault said.

Efforts by the administration to reform health care and address climate change also create uncertainty among businesses about whether they'll soon be facing higher costs, according to Steven Davis, an economics professor at the University of Chicago.

"When there's that type of uncertainty in the air, it's a good reason to pull back and wait before making any (hiring) decisions," he said.

So their are around 7 unemployed people or so you will be competing with while applying for any job right now. But we all know it's more when your applying for that golden job you like. Could be up to 200 people applying for the job you want lol.

[Greddypacked]

http://d.yimg.com/a/p/fi/25/11/99.jpg?x=139&y=232&q=85&sig=nR18_l.9AfjorGJaI2MMcg--

Graph of changes thru the years.

[BanginJimmy]

I am lucky to be in an industry that is always short of people.

A didnt save the article, but I read one a couple months ago that point out that most of the job loses have been in unskilled labor and service industries so before we will see any recovery those 2 areas will have to be motivated to hire.

[Friggintitsman]

TL/FWI

[uproot]

My friend's father has had a very difficult time getting a job because he is "over qualified"

[Friggintitsman]

My friend's father has had a very difficult time getting a job because he is not a minority

*fixed

[Slow Motion]

Damn Really ^^^

[BluesClues]

Yeah I know about it. I am trying to find a more professional job (somewhere I learn some skills I really will need) and it's hard finding one right now.

[Kasper]

I know this harsh reality all to well. my father lost his job almost a year ago and is still looking. he's sent out over 300 resumes and nothing. all because he's "over qualified" or because he only has 35 years experience but no degree. its really shitty because we are on the virge of looseing everything. both my mom and I are working but I don't make nearly as much as I should be to be supporting anyone. and my mom doesn't make a whole lot either. I've been searching for a new job for months and I still haven't found anything. I lay awake every night as my dad does wondering if were still gonna have a place to live at the end of the week. I know a lot of people are prob like (well why are you looking for a new car) but the sad truth is is if I find a new car and get rid of my truck payment ill actually be saveing tons of money due to the fact I wouldn't have a $367 truck payment and wouldn't be dropping almost $150 in fuel a week... but its just shitty that we have to live like this..

[95alty]

Well We are always hiring... depending on age and physical requirements :)

[Julio]

Right now, if I didnt have a job, I would do /take whatever kinda of job...

I still think alot of people are a shame to do certain things/type of jobs.. in the situation we are right now, anything is great.

[tony]

Right now, if I didnt have a job, I would do /take whatever kinda of job...

I still think alot of people are a shame to do certain things/type of jobs.. in the situation we are right now, anything is great.

This is absolutely the truth. My sister was a mortgage underwriter making about $45k a year. After losing her job she had job offers in the $30k range but chose to stay unemployed because she felt the wages were beneath her.


*fixed

Yes because being a minority gives you so much of an advantage in getting a good job. :rolleyes:

Personally, I saw this coming and adjusted accordingly. The writing is on the wall when you see corporations restructuring, its no longer about the worker it is about the profit so job security is not there, you have to look out for yourself. There are opportunities out here but people have to get creative about it and show some initiative, right here on IA I see it in the wall street section. The same 4 people are active in the stock tip thread (wish it was a section *hint hint*) and we share ideas on opportunities that are out here to make money in the stock market. One person netted $17k profit in a week from information they shared yet its still the same 4 or 5 people posting.

I will just say this, when times are good (stock market boom, real estate boom) that is the time to be cautious because the bubble will eventually burst. When times are bad (NOW) this is where the opportunities begin, right now is when new wealth is obtained simply because someone had a positive outlook while everyone else is complaining. Instead of blaming the president who has no bearing on your day to day wealth take some ownership, get your head out your ass and venture out of the whoreslounge every so often and spend some time on something that will actually pay dividends, its simple. I guarantee one of those 4 or 5 people in the stock tip thread will not require a day job ever again in 3 years.

[Greddypacked]

Instead of blaming the president who has no bearing on your day to day wealth take some ownership, get your head out your ass and venture out of the whoreslounge every so often and spend some time on something that will actually pay dividends, its simple. I guarantee one of those 4 or 5 people in the stock tip thread will not require a day job ever again in 3 years.

Very true except the no job in 3 year part lol.

[Vteckidd]

I know this harsh reality all to well. my father lost his job almost a year ago and is still looking. he's sent out over 300 resumes and nothing. all because he's "over qualified" or because he only has 35 years experience but no degree. its really shitty because we are on the virge of looseing everything. both my mom and I are working but I don't make nearly as much as I should be to be supporting anyone. and my mom doesn't make a whole lot either. I've been searching for a new job for months and I still haven't found anything. I lay awake every night as my dad does wondering if were still gonna have a place to live at the end of the week. I know a lot of people are prob like (well why are you looking for a new car) but the sad truth is is if I find a new car and get rid of my truck payment ill actually be saveing tons of money due to the fact I wouldn't have a $367 truck payment and wouldn't be dropping almost $150 in fuel a week... but its just shitty that we have to live like this..
what does he do?

[tony]

Very true except the no job in 3 year part lol.

Just watch the thread as it develops, 3 years was me being generous.. the person I'm talking about (not me) I'm expecting it to be more like a year and a half at the most.

[Vteckidd]

Obama hasnt done anything to create jobs, all hes doing is keeping businesses from hiring IMO.

Could Mccain have done better? not imo

The problem is its a circular argument. You give tax cuts to small business to hire new people and the dems spin it as "giving the wealthy a tax BREAK". Or you get the people that say the evil small business people wont use the tax cuts to employ americans itll send jobs overseas or keep the money to themselves.

Then you got the dems that think increasing unemployment benefits, passing a stimulus bill thats done nothing, hell what else have they done? Absolutely ZILCH.

Healthcare will kill us, Cap and Trade will kill us

the recession is going to lag on for awhile, jobs are going to continue to decline no matter how much money GOVT spends because govt cannot create ANYTHING. only the private sector can.

The sooner Obama learns that, the better off we will be

[Echonova]

Now that the minimum wage has been increased the employment rate for teens has fallen to less than 50%. How's all that hope and change working?

Businesses are in business to make money, not to "give you a job". Raise the cost, cuts will be made to maintain the profit margin. IE: if employees cost more they can't hire as many... Unfair, no. Average Profit margin for a business is 10%. Exxon/Mobil posted record profits when gas hit 3,4 & 5 dollars a gallon the other year. What the news didn't tell you is their profit margin never changed. If you make $10 off a item that costs $100 to make = 10% profit margin
Now for the same item you charge $20 but the cost to make it rises as well $200 = 10% profit margin

BTW: Exxon/Mobil make a lot less the 10% profit margin...

[quickdodge®]

Right now, if I didnt have a job, I would do /take whatever kinda of job...

I still think alot of people are a shame to do certain things/type of jobs.. in the situation we are right now, anything is great.

You're right. People think they are too good to work at Burger King or Wendy's. Or Kroger or Publix.

I'm not one of those. When I lost my job two months ago, I applied at several grocery stores and even three fast food joints. Got no return calls yet, though. I even went up there (like you're supposed to) and was told in person that they aren't hiring at that location. Tough times for sure.

Of course, now I wouldn't accept any job offer at any of these places. I'd rather just sit at home and wait for my job to come back. I'm actually not going to accept anything from anyone that calls me. Later, QD.

[tony]

Politics, taxes, healthcare.. etc, all of this is static. It doesn't change and it is inevitable one way or another. I'm speaking from a 'get money' point of view and not a 'partisan' point of view. Obama, Bush, Clinton, Reagan, Hitler, doesn't matter who is president those taxes are not changing.. and if they do it wouldn't be significant enough to make the difference between you becoming a millionaire or living paycheck to paycheck. The habits that you form will make that difference and the sooner any of us realize that the quicker you take that path in the right direction. I got to a point where I had to ask myself, is it necessary for me to spend $3k on a set of wheels.. $1k on an assault rifle I'll never use.. or invest that money in Hemispherx Biopharma like I did and came out with 3 times what I started with.

I don't look at my bank account and say "Damn Obama, you're killing me." Ultimately that is my responsibility so I make those adjustments to where I don't have to worry about the oval office and what they do. Play the game.. if you search the stock tip thread for "Obama" you wont find one post and everyone there is either making money or learning lessons.. all the other shit is nothing more than a distraction.

Bickering about what Obama does or doesn't do only wastes time and energy, if you truly believe Obama is why you can't get ahead then trust me.. Obama isn't the hurdle its yourself.

[§treet_§peed]

I feel you on not finding anything. Since i got let go from my last job i have yet to find anything in the past month and a half.

[Echonova]

Politics, taxes, healthcare.. etc, all of this is static. It doesn't change and it is inevitable one way or another. I'm speaking from a 'get money' point of view and not a 'partisan' point of view. Obama, Bush, Clinton, Reagan, Hitler, doesn't matter who is president those taxes are not changing.. and if they do it wouldn't be significant enough to make the difference between you becoming a millionaire or living paycheck to paycheck. The habits that you form will make that difference and the sooner any of us realize that the quicker you take that path in the right direction. I got to a point where I had to ask myself, is it necessary for me to spend $3k on a set of wheels.. $1k on an assault rifle I'll never use.. or invest that money in Hemispherx Biopharma like I did and came out with 3 times what I started with.

I don't look at my bank account and say "Damn Obama, you're killing me." Ultimately that is my responsibility so I make those adjustments to where I don't have to worry about the oval office and what they do. Play the game.. if you search the stock tip thread for "Obama" you wont find one post and everyone there is either making money or learning lessons.. all the other shit is nothing more than a distraction.

Bickering about what Obama does or doesn't do only wastes time and energy, if you truly believe Obama is why you can't get ahead then trust me.. Obama isn't the hurdle its yourself.The inflation that is coming in the next 4-5 years will not be static. The value of the dollar is already dropping, you are being robbed and the thief is leaving the money in your wallet. Hell, they are openly talking about replacing the dollar as the global currency at the UN because we can't sustain our level of spending.

[tony]

Hell, they are openly talking about replacing the dollar as the global currency at the UN because we can't sustain our level of spending.

Think about that for a second.. what you just stated. When you really ponder it you begin to realize how far left field it is. The outcry is due the the fall of the dollar versus the euro (which has been recovering ground lately) China has reacted in the sense that they want a global currency but does anyone realize what it would take to implement that?

Again its something else for people to use as a roadblock to their own success, everything that is going on now is nothing new and conditions have been worse. By all means if it is more beneficial to worry about things that never change and there is relatively little direct control then do so, personally I just think as individuals and as a country we gain more when we maximize the opportunities that are available.

[Friggintitsman]

This is absolutely the truth. My sister was a mortgage underwriter making about $45k a year. After losing her job she had job offers in the $30k range but chose to stay unemployed because she felt the wages were beneath her.



Yes because being a minority gives you so much of an advantage in getting a good job. :rolleyes:

Personally, I saw this coming and adjusted accordingly. The writing is on the wall when you see corporations restructuring, its no longer about the worker it is about the profit so job security is not there, you have to look out for yourself. There are opportunities out here but people have to get creative about it and show some initiative, right here on IA I see it in the wall street section. The same 4 people are active in the stock tip thread (wish it was a section *hint hint*) and we share ideas on opportunities that are out here to make money in the stock market. One person netted $17k profit in a week from information they shared yet its still the same 4 or 5 people posting.

I will just say this, when times are good (stock market boom, real estate boom) that is the time to be cautious because the bubble will eventually burst. When times are bad (NOW) this is where the opportunities begin, right now is when new wealth is obtained simply because someone had a positive outlook while everyone else is complaining. Instead of blaming the president who has no bearing on your day to day wealth take some ownership, get your head out your ass and venture out of the whoreslounge every so often and spend some time on something that will actually pay dividends, its simple. I guarantee one of those 4 or 5 people in the stock tip thread will not require a day job ever again in 3 years.

FYI

I didn't read any of that

[BanginJimmy]

Think about that for a second.. what you just stated. When you really ponder it you begin to realize how far left field it is. The outcry is due the the fall of the dollar versus the euro (which has been recovering ground lately)

The reason the Euro is gaining ground is because of stability. The US has none of that. I dont care what demand becomes in the near future, businesses are not hiring until they find out what the effects of cap and trade and healthcare will be on their bottom line. If demand surpasses their ability to produce, they will simply shop their products overseas and raise prices to compensate.

Global economics is going to dictate to the US that we must get spending under control or they will dump the dollar as the global currency. When that happens, so do all of the international investors. When the international investors go away, so does our standard of living. I dont think we fall into the third world, but we will fall dramatically.

[bonezMTA]

all i know is that it makes me want to cry (not to sound like a bitch or anything) but cry because im about to have a baby in January and i still cant find a job. and that makes me feel like a worthless piece of shyt. like im not a man about something because i cant find a job. (thats all i had to say, please dont talk shyt about what i wrote, i just felt like getting it out)

[David88vert]

I can offer a bit of insight on taking "any" job that you are offered.
This issue came up for me and for a couple of other people I know a few years ago.

I lost my job, and did not take a low paying job to get by. Instead I lived on my savings for two years. I ended up landing a much higher paying job though later, and was able to negotiate my salary due to not being desperate for a job.

2 others that I know lost their jobs just before I did, and grabbed temporary fast-food jobs. When they went in for interviews and presented their resumes, the company knew that they were desperate for a job, and could not afford to pass it up. They both got low-balled on their salary, but of course, they took it. If you are wondering what does it matter, it affects the total amount of your raises and bonuses each year, and how much money you ultimately earn.

Look at it this way, a job pays $50K avg. If you go in asking for $55K, they offer $50K and you take it. The next raise, you get 5%, so your salary goes to $52.5K. After 2 years, you have been paid 102.5K.

On the other hand, the same job were someone applying has settled for a temporary $10-15K/yr job sees you as desperate and offers $45K. Of course, you take it, and get the same 5% bonus - only that is $2250. After 2 years, you make 92,250.
AND - the difference INCREASES over the years. The only way to make up the difference is to switch to another higher paying job.

Unless you made more than $10K in the temporary job, you will have shot yourself in the foot.
Remember, that low-paying job can haunt your resume for 3-10 years depending on the companies that you choose to apply for.

Another item to remember - many employers pull your credit score also now, and that can affect your pay level as well. It can even affect your initial offer - as in if you will even get an offer. HR departments look at everything - including your personal financies and free time.