1. 2.4M full-time permanent jobs were open
2. 14.5M people officially unemployed
3. Ratio = 14.5/2.4 = 6.04
4. Unemployment (U3): 9.7%
Context:
1. Ratio highest since the government began tracking open positions in 2000
2. 2001 recession worst: 2:1
3. Early 2009: 4:1
**Job opening decline since the end of 2008
1. 47% manufacturing
2. 37% in construction (large drop should have happened already by the end of 2008)
3. 22% retail
4. 21% in education and health services
5. 17% in government
Job opening decline since Dec 2007 (begining of this recession)
1 .45 percent in the West and the South
2. 36 percent in the Midwest
3. 23 percent in the Northeast.
"Linux"
- Read it here 1st: Truest Picture of Excess Labor Supply | The Big Picture (view on Google Sidewiki)
source: U.S. Job Seekers Exceed Openings by Record Ratio (NYT By PETER S. GOODMAN Published: September 27, 2009)
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