American Workers Still Enduring A Jobless Hell - 5 Workers For Each Job Opening

[Omaha Steve]

http://www.laborradio.org/Channels/Story.aspx?ID=1359935

2/8/2011
Workers are still enduring a jobless hell in the U.S. Jesse Russell reports just how bad it still is.

A Labor Department employment report released on Tuesday revealed that there are still five unemployed workers available for every job opening in the United States. Businesses have been holding off on hiring new employees even though some of the top businesses in the country are sitting on large profit margins. Still that doesn’t mean there hasn’t been an up tick in job openings. There are 31 percent more jobs available on the market then in July of 2009. Economists won’t consider the nation in a recovery until there are two unemployed workers for every one job opening. In December there were 4.7 unemployed workers – less than the last highest number of 6.3 unemployed workers for every job opening in November of 2009. Nearly 14.5 million people are projected to be out of work. Convincing businesses to start using some of their combined $2 trillion in assets to create more jobs and hire more workers was one of the reasons President Barack Obama held his speech to the Chamber of Commerce on Monday. Businesses contend that they can’t create jobs because there isn’t enough demand in the marketplace.


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