Tomorrow comes the BES employment report, which everyone will be focused on. Yesterday, because of the debate, few people paid attention to the September ADP employment report.
September showed a 162,000 gain in jobs, August was revised downward from 201,000 to 189,000, and July was revised downward from 168,000 to 156,000.
Jul -- 156,000
Aug -- 189,000
Sep -- 162,000
Observing CL's job postings, I haven't noticed any difference between three months ago and today. That is to say, there really are a lot of semi-skilled, skilled and no-skill job postings. Again, I will restate that this is the exact opposite condition throughout 2008 and 2009, when you could barely find postings in CL, with some days completely empty in some categories.
The problem, it seems, is not a mismatch of skills but one of a lack of trust in hiring laid off people; otherwise we wouldn't see a high unemployment rate.
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