Job And Career Information | Buzz: No money, no jobs, no retirement
By Al Olson
Have you ever had enough of the grind, and dreamed of chucking it all and live off the grid? No bills. No tax man. No boss. And no money.
Our readers had a lot to say about this disappointing trend, too. “I just feel like if people spent as much time looking for a job as they do complaining, they would be far better off,” wrote one reader. …More at Buzz: No money, no jobs, no retirement
Job And Career Information | The Young and The Jobless
One of the bleakest spots in the tepid recovery of the U.S. jobs market is the difficulties young people are facing. The unemployment rate for 16- to 24-year-olds was 16.4 percent in April. Though this number is down from its highs in 2010, it’s still at levels last seen 30 years ago.
The economy is creating jobs — 115,000 in April–but not at a pace strong enough to battle some of the most ominous problems with the job market including creating enough high-quality entry-level jobs. It seems then that the new generation of American workers is in trouble, and that could mean many more economic problems in years to come, from tax revenue to housing to consumer spending.
…More at The Young and The Jobless
Job And Career Information | U.S. Job Groth Slumped
U.S. job growth slumped in April for a second straight month. It suggested an economy that is growing steadily but still sluggishly, which could tighten the presidential race.
More at Jobs lost to recession trickle back, but wages lag
Job And Career Information | Unemployment Rate
Friday’s jobs report for April was even more disappointing than March. Employers added only 115,000 new jobs, down from March’s number (the Bureau of Labor Statistics revised the March number upward to 154,000, but that’s still abysmal relative to what’s needed). We need well over 250,000 new jobs per month in order to begin to whittle down the vast number of jobs lost in the Great Recession. At least 125,000 new jobs are necessary each month just to keep up with an expanding population of working-age people.
With only 115,000 jobs in April, the hole is getting even deeper.
Most observers pay attention to the official rate of unemployment, which edged down to 8.1 percent in April from 8.2 percent in March. That may sound like progress, but it’s not. The unemployment rate dropped because more people dropped out of the labor force, too discouraged to look for work. The household survey, from which the rate is calculated, counts as “unemployed” only people who are actively looking for work. If you stop looking because the job scene looks hopeless for you, you’re no longer counted.
In the winter months — December, January, and February – hiring had seemed to pick up, averaging over 250,000 new jobs per month. Then the mini-surge stopped. The simplest explanation is that the mild winter across much of the United States gave an unusual boost to hiring then, leading to a correction by the spring.
Most of the job gains in April were in lower-wage industries – retail stores, restaurants, and temporary-help. That means average wages continue to drop, adjusted for inflation – continuing their long-term decline. Most of the new jobs that have been added to the U.S. economy during this recovery have paid less than the jobs that were lost during the downturn.
What does all this mean? Together with other recent data showing slower economic growth during the first quarter of this year, it’s safe to say the economy has stalled.
This is bad news for millions of Americans.
…More at Jobs report: The stall has arrived
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