CERTAIN JOBS WHITE PEOPLE JUST DON'T DO:

The great jobs mismatch (Robert J. Samuelson, Published: June 19, 2011, Washington Post)

One puzzle of this somber economy is the existence of unfilled jobs in the midst of mass unemployment. You might think (I did) that with almost 14 million Americans unemployed — and nearly half those for more than six months — that companies could fill almost any opening quickly. Not so. Somehow, there’s a mismatch between idle workers and open jobs. Economists call this “structural unemployment.”

Just how many jobs are affected is unclear; there are no definitive statistics. Economist Harry Holzer of Georgetown University thinks the unemployment rate might be closer to 8 percent than today’s 9.1 percent if most of these jobs were filled. That implies up to 1.5 million more jobs. Economist Prakash Loungani of the International Monetary Fund estimates that 25 percent of unemployment is structural; that’s more than 3 million jobs. A recent survey of 2,000 firms by the McKinsey Global Institute, a research group, found that 40 percent had positions open at least six months because they couldn’t find suitable candidates.

Remember real recessions? Where people used to line up to apply for any job?

Posted by oj at June 20, 2011 5:28 AM
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