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Monday, October 31, 2011

There Are Not Enough Jobs

Every decade employment grew by 20% to 30%, until the most recent. This is on top of low income growth by the middle class. The two conditions have combined for low growth (GDP) estimates for the next decade.

The question is: why has employment grown so slowly? And even if all open job vacancies were filled there would still be many people left unemployed.


There are 3.3 million job openings. There are 12 million people unemployed which includes 4 million out longer than 6 months. If every position was filled by the unemployed there would still be 8.7 million people out of work.

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