More likely, there are enough jobs, but there is a major mismatch between experience and skills needed vs what the job seekers actually possess.
Businesses live for the here and now (in their quest for lower operating expenses, higher net profits, and higher stock prices), so they buy/hire what they need right now. They don't invest for the future. They want results now, and are willing to pay for it.
I think the reason we have any unemployment is that the job seekers fail to take initiative and adapt to the changing needs of the marketplace. Specifically, populating their resumes/CV with the right companies and right buzzwords/acronyms.
If you don't have what the companies want, you're not going to get hired. They're not going to change to accommodate you. You have to change to accommodate them.
Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
By ANNIE LOWREYAPRIL 27, 2014
"WASHINGTON â The deep recession wiped out primarily high-wage and middle-wage jobs. Yet the strongest employment growth during the sluggish recovery has been in low-wage work, at places like strip malls and fast-food restaurants.
"In essence, the poor economy has replaced good jobs with bad ones. That is the conclusion of a new report from the National Employment Law Project, a research and advocacy group, analyzing employment trends four years into the recovery.
âFast food is driving the bulk of the job growth at the low end â the job gains there are absolutely phenomenal,â said Michael Evangelist, the reportâs author. âIf this is the reality â if these jobs are here to stay and are going to be making up a considerable part of the economy â the question is, how do we make them better?â
"The report shows that total employment has finally surpassed its pre-recession level. âThe good news is weâre back to zero,â Mr. Evangelist said.
"But job losses and gains have been skewed. Higher-wage industries â like accounting and legal work â shed 3.6 million positions during the recession and have added only 2.6 million positions during the recovery. But lower-wage industries lost two million jobs, then added 3.8 million.
"With 10.5 million Americans still looking for work â the unemployment rate is 6.7 percent â employers feel no pressure to raise wages for those who are working. As a result, the average householdâs take-home pay has declined through the recession and the recovery to $51,017 in 2012 from $55,627 in 2007, after adjusting for inflation.
"With joblessness high and job gains concentrated in low-wage industries, hundreds of thousands of Americans have accepted positions that pay less than they used to make, in some cases, sliding out of the middle class and into the ranks of the working poor."
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