We came across a couple intriguing blog posts on the latest data regarding unemployment and job openings. The BLS has released its Job Openings and Labor Turnover Summary (JOLTS), and the news isn’t great. There are six unemployed people in the U.S. for every job opening. What’s more, according to Calculated Risk, there were 165,000 net jobs lost in December.
Separations have declined sharply from earlier in 2009, but hiring has not picked up. Quits (light blue on graph) are at a new low too. Usually “quits” are employees who have already found a new job (as opposed to layoffs and other discharges).
The low turnover rate is another indicator of a very weak labor market.
On top of all this, unemployed people are in an increasingly desperate spot, writes Catherine Rampell of the Economix blog. “The average length of time jobless people have been out of work is at a record high of 30.2 weeks. … And that doesn’t even include people who want jobs but have given up looking for them.”
For workforce professionals and training providers, the weak labor market makes it that much more important to have the right tools to put jobseekers on the best path. Career centers and other organizations around the country have started using EMSI’s Career Coach. You can watch the video below and see more about Career Coach here.