One Job, Six Ready to Do It: One Tough Job Market

. Friday, October 9


For every job opening, there are now 6.3 people available to fill that position. It is the toughest job market since 1950, according to the Department of Labor.

The numbers don’t add up:

14.9 million people are unemployed.

7.2 million jobs lost, plus the 125,00 per month needed to keep up with population growth.

Fewer people are now facing job loss.

Unemployment will reach 10 percent early next year and drop back to 8.6 by 2012.

Output is recovering, but without the recovery in jobs. Employers laid off huge numbers, but productivity and output continued to jump. Employers are content to see just how far they can push productivity up without hiring again.