The U.S. Employment Landscape

Aug 06 2011 Published by under Uncategorized

In light of the flurry of recent economy-related news (the debt ceiling deal, new jobs data, our national credit rating), I thought I would post a few graphs that summarize our current jobs situation. Laura E. sent in a link to the Off the Charts blog by the Center for Budget and Policy Priorities. They posted a set of charts highlighting ongoing unemployment in the U.S. Overall, the private sector has been adding jobs, but at generally very low levels:

But we lost so many jobs relative to the overall working-age population during this recession that the slow job growth simply isn’t enough to significantly alter the unemployment rate, which is still hovering around 9.1% (though much higher for some groups, particularly young people and racial and ethnic minorities):

The increased labor force participation we saw during the 1990s and 200s have been erased:

The CBPP has a collection of recession-related charts, including this graph of the number of individuals needing a job per each available job opening, a ratio that remains quite discouraging:

In the last few days since the debt ceiling fiasco, a number of economic experts have once again begun discussing the possibility of a double-dip recession and, as you may have heard, last night Standard & Poor’s downgraded the U.S. debt rating. Overall, it’s not an encouraging picture of our immediate economic future.

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2 responses so far

  • job searcher says:

    Particularly not encouraging for those of us going on the job market this fall. Seems like we could see a repeat of when many job searches were canceled and lines frozen.

  • OgreMkV says:

    My sister-in-law works in HR and she says that she's getting over 600 applicants for each position. These are not high-end positions either. Most don't make but $15/hr.

    My wife graduated with a master's degree in May and hasn't found a job yet. She's beginning to apply at Target and Sears. sigh...