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Old 08-14-2014, 03:47 PM  
KC native KC native is offline
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By Any Measure, The Job Market Is Getting Better

By Any Measure, The Job Market Is Getting Better
http://fivethirtyeight.com/datalab/by-any-measure-the-job-market-is-getting-better/

U.S. employers listed 4.7 million available jobs at the end of June, 700,000 more than a year earlier and the most since 2001, according to new data released Tuesday. Meanwhile, the number of unemployed workers has been falling steadily and is now below 10 million. As a result, the remaining job seekers face their best prospects of the recovery: There are now two unemployed workers for every job opening, down from about seven at the height of the unemployment crisis.



But wait. That chart only includes people who are officially unemployed, and as regular readers know, the governmentís definition of unemployment includes only people who are actively looking for work. What about the millions of Americans who have given up?

The government tries to count them in a separate measure that includes people who arenít actively searching for work but who want a job, are available to work and have looked for work within the past year. There were about 2 million so-called marginally attached workers in June. Add them to the officially unemployed, and the ratio of available workers per job opening rises ó but the trend of improvement stays the same.



(One small note on that chart: Iím using seasonally adjusted data in these charts, except in the case of marginal attachment, where seasonally adjusted figures donít exist. Mixing adjusted and unadjusted data is normally a bad idea, but there isnít a strong seasonal trend in marginal attachment.)

But even that definition of ďavailable workersĒ might be too narrow. Some people have likely become so discouraged that they havenít looked for work in the past year. Others might have taken on family responsibilities or gone back to school, meaning they arenít available for work right away. To capture such people, we can look at an even broader group: everyone who reports that they want a job, regardless of when they last looked or whether theyíre immediately available. Once again, the ratio rises but the overall trend looks the same.



Even that measure, however, doesnít count everyone who wants a job. More than 7 million Americans are working part-time because they canít find full-time jobs. Those people might not be jobless, but theyíre still looking for more work. Include them and there are five available workers for every job opening. But the ratio is still falling at about the same pace.



In other words, the improving job market isnít just the result of the governmentís definitions. There really are fewer people vying for more job openings.

That fits with other evidence. Job growth has topped 200,000 for six consecutive months, and Tuesdayís report showed that the number of hires continues to rise steadily, though at a slower pace than openings. The number of people quitting their jobs, a measure of confidence in the labor market, hit a post-recession high in June.

That doesnít mean the job market has fully healed. Despite the recent gains, there are still more workers per job opening than before the recession began. The hiring statistics also donít reveal anything about the quality of jobs being created; muted wage growth suggests that many people still arenít seeing much of a recovery in terms of take-home pay. The long-term unemployed, meanwhile, have made minor progress, at best. Things are getting better, but they arenít good yet.
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Old 08-14-2014, 03:51 PM   #2
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Yah and Robin Williams' family members have been improving by any measure since Tue.
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Old 08-14-2014, 03:54 PM   #3
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That doesn’t mean the job market has fully healed. Despite the recent gains, there are still more workers per job opening than before the recession began. The hiring statistics also don’t reveal anything about the quality of jobs being created; muted wage growth suggests that many people still aren’t seeing much of a recovery in terms of take-home pay. The long-term unemployed, meanwhile, have made minor progress, at best. Things are getting better, but they aren’t good yet.

I think we should give Obama another six years, just to finish out the job.
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Old 08-14-2014, 03:55 PM   #4
HonestChieffan HonestChieffan is offline
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Cool graphs


Meaningless but helpful in your failed attempt to spin it.
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Old 08-14-2014, 05:44 PM   #5
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Old 08-14-2014, 08:56 PM   #6
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Originally Posted by HonestChieffan View Post
Cool graphs


Meaningless but helpful in your failed attempt to spin it.
Meaningless = Goes against everything I read on breitbart.com

alternate
Meaningless = These are the same charts I was happy to cite in 2009, but now I don't like them
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Old 08-14-2014, 09:09 PM   #7
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"People who aren't actively searching for work but want a job" ?
How does that work?
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Old 08-15-2014, 12:30 AM   #8
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Old 08-15-2014, 12:57 AM   #9
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texas has created tons of jobs
but they don't pay shit
service economy means death to the american dream

it actually died (for me in 2000)
once I saw electrical engineers hired to make cables I knew the silicon burst was done
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Old 08-15-2014, 01:30 AM   #10
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Now hiring signs are everywhere in omaha
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Old 08-15-2014, 05:32 AM   #11
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Yup. Small businesses closing and minimum wage retail jobs are booming.

Just how the administration planned.
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Old 08-15-2014, 05:47 AM   #12
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Old 08-15-2014, 06:44 AM   #13
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Good news Obama.
Bad news Bush.
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Old 08-15-2014, 07:15 AM   #14
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Quote:
Originally Posted by chefs fan in omaha View Post
Now hiring signs are everywhere in omaha
Jobs advertising with "now hiring" signs aren't very good jobs normally. But then, that's the O-conomy.
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Old 08-15-2014, 07:27 AM   #15
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Originally Posted by Donger View Post
That doesnít mean the job market has fully healed. Despite the recent gains, there are still more workers per job opening than before the recession began. The hiring statistics also donít reveal anything about the quality of jobs being created; muted wage growth suggests that many people still arenít seeing much of a recovery in terms of take-home pay. The long-term unemployed, meanwhile, have made minor progress, at best. Things are getting better, but they arenít good yet.

I think we should give Obama another six years, just to finish out the job.
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Good news Obama.
Bad news Bush.
Presidents are irrelevant to the economy. Bravo on posting like disHonest and the other mouth breathers in DC.
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