Joblessness is record high.
Labor shortage is also high.
Both on the opposite ends of the spectrum. How is thos supposed to work
by CaptOBM
Joblessness is record high.
Labor shortage is also high.
Both on the opposite ends of the spectrum. How is thos supposed to work
by CaptOBM
9 comments
Not everyone is qualified for every job, and not everyone wants to do any kind of job.
There are shortages in some industries, and some don’t have any shortages whatsoever.
Simply, they are speaking about different jobs.
If you have to many doctor and not enough bakers, then the doctor are unemployed and the bakeries are searching desperately for new employees.
In addition, if companies are complaining about a shortage of employees, they mean, that they don’t find any seniors who want a junior salary anymore. Or they don’t find personal who want to work in bad conditions.
The job market is complicated. There is a shortage for low skill labor, as most people don’t want to do such jobs and the pay isn’t really good. There is also a shortage of highly educated specialists in several industries just because such people are general rare.
On the other hand, mid level jobs are severely ought over and for one position there might be dozens or even hundreds of applicants. The software development market for example is complete lying over saturated. Combine this with the current Rezession and it’s very difficult to find work in those areas.
The social system is too good for some people that it is easier to live from taxpayers money than work for it.
The ‘Labour market’ is not one thing but is in fact many labour markets aggregated together.
The total unemployed is the aggregate labour market. The figure is a simple short-hand for the strength of the economy that ignores/simplifies the complexity of reality (like GDP).
Not all jobs are equal, not all markets are equal. People have different skills, characteristics. Jobs have different demands. People could retrain in some instances but that takes time and requires some mid to long term guarantee the job will still be needed. Others will sit out the job market until their specific sector picks up again. Some employers won’t hire those considered overqualified as it’s not a good long term option.
When the store is out of chocolate and you want chocolate you might buy an apple instead, but you might just rather go hungry…
There is a shortage of highly skilled applicants willing to work for low wages and even lower net salaries.
The German enigma
Unemployment is at 3%. What record high?
Weird. In january it was 6.1%, now it is 5.8%. They seem to be a little behind.