U.S. Government Reports: More Workers Chasing Fewer Jobs
Years After Recession Ended, Unemployed Still Worse Off
(Washington, D.C.) – This week the United States Department of Labor released the monthly Job Openings and Labor Turnover Summary for July with the number of open jobs in the U.S. falling to its lowest level in six months. The report shows little movement in the U.S. economy, specifically stating that in terms of job openings, hires, separations, and other statistics, "little changed" from the previous month.
A review of the data shows however, that with 11.5 million Americans officially unemployed in July, the ratio of openings to jobseekers reached a disturbing level. In 2007 – before the recession began – there were 1.8 people seeking work for every opening. By July 2013, that number had climbed dramatically to over 3 people seeking work for each available opening. In other words, even as the economy entered into its fourth year of recovery, unemployed workers are still likely to have a far harder time finding a job than they did just a few years ago.
Daniel Garza, Executive Director of The LIBRE Initiative released the following statement:
"The White House has claimed credit for what they say is an 'economic recovery.' But since this recession ended and the so-called recovery began in 2009, median household income has fallen, millions have been added to the rolls of those on food stamps, and many have given up on even looking for work. This report from the Department of Labor contains more disheartening evidence of the weak economy.
In December, 2007 – when the last recession began – there were 1.8 job seekers for every available job out there. Now, there are 3.1 job seekers for every opening. This is the result of years of weak economic growth: American workers are still far behind where they were just a few years ago and are still trying to catch up. It's clear that the approach in Washington is not working. Government deficits and spending just won't lead to real, self-sustaining, private sector job creation. Washington needs to repeal the taxes and mandates that are keeping small businesses and entrepreneurs from expanding payrolls and creating economic opportunities."