Job openings are up … but hirings are down
Posted By RichC on April 8, 2015
Very confusing numbers in a recent Wall Street Journal graph noting that the number of job openings being posted are way up (green line) … up to the highest level in 14 years. That’s good news right?
Unfortunately a look at the red line shows the number of hiring. Hmm, that trend has moved down, as have the number of Americans who have quit their jobs … helping to create the lowest workforce participation rate in 37 years according to the Bureau of Labor Statistics.
EDIT: Added some CNBC video and “my” audio below.
Alan Krueger, Princeton University, and Eric Spiegel, Siemens U.S.A. president and CEO had a slightly contentious debate on CNBC’s Squawkbox over wages and the skills gap. Academics would like to see the private sector accelerate wages to attract workers while businesses claim its not a wage issue but that workers don’t have the needed skills. (the included segment on the CBNC archive was missing an “interesting exchange” below. Very telling for the WSJ graphs above.)
| CNBC Squawkbox Alan Krueger and Eric Spiegel – 4/8/2015 |
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