Job Openings hit highest level since 2001 - 4.835 million openings

[stevenleser]

http://finance.yahoo.com/news/u-job-openings-hit-highest-150332837.html

WASHINGTON, Oct 7 (Reuters) - U.S. job openings rose to their highest level in more than 13 years in August even as hiring fell, the U.S. Department of Labor said.

Job openings were at a seasonally adjusted 4.835 million compared with a downwardly revised 4.605 million in July, the Labor Department said in its monthly Job Openings and Labor Turnover Survey on Tuesday. Job openings are used to measure labor demand.

Federal Reserve policymakers have said they are monitoring the JOLTS report as they consider their next step on monetary policy.

Employers hired a seasonally adjusted 4.640 million people in August, down from 4.934 million in July, the report said. August's hiring was 27 percent higher than in June 2009 when it was at its lowest level since the beginning of the recession.

.
.
.
more at above link... it's getting harder and harder to deny the massive improvements in the job market.

[stevenleser]

1. Kick nt

[spanone]

2. k&r...

[BlindTiresias]

3. Would like some data on what industries

And at what wages, that is the most important thing, I think.

[stevenleser]

6. Just by having consistently a lot of openings is going to ultimately drive wages higher.

Unemployment needs to be 1-3 percentage points better for that to happen, I think.

[BlindTiresias]

8. Once again

Really depends on what industries and what starting wages we are talking here. In addition, the stickiness of wages has been a well established fact for a while now among economists, save for the Austrians who do not acknowledge it.

One would need to see data on what industries and at what wages before making overly optimistic assessments, imo.

[stevenleser]

10. It really doesn't depend on that, and FYI, stickiness doesn't mean stuck like if superglued.

Average Hourly Wages increased in the Clinton years by 6% OVER INFLATION as a result of how low unemployment became http://www.americanprogress.org/issues/economy/report/2011/10/28/10405/power-of-progressive-economics-the-clinton-years/

Yes, some of that was definitely due to the dotcom boom, but not everyone was a techie. The wage increases were very broad.

I expect by the end of the Obama administration we will see conditions like this.

[BlindTiresias]

15. I think it is a bit more complex than that

http://www.washingtonpost.com/posteverything/wp/2014/10/06/wages-should-be-growing-faster-but-theyre-not-heres-why/

You have a partial explanation but not a full one in my estimation.

[MohRokTah]

4. Think of how awesome the market would be without nearly 6 years of GOP obtruction! eom

[Go Vols]

5. U.S. jobs rose since '08 crisis, but pay is 23 pct less

(Reuters) - Jobs growth in the U.S. since the 2008 recession has been undermined by lower wages, with workers earning an average 23 percent less than earnings from jobs which were lost, a report by an organization representing U.S. cities said on Monday.

http://www.reuters.com/article/2014/08/11/us-usa-mayors-jobs-idUSKBN0GB1T920140811

US Job Growth Is Rising Solidly, So Why Isn't Pay?

Employers in the United States are hiring at a brisk pace. Unemployment has sunk to a nearly healthy rate. Jobs are being filled across a range of industries.

Yet the September jobs report released Friday contained a puzzling fact: Paychecks still aren't growing.

Economists regard stagnant wages as a red flag for the 5-year-old recovery. Robust job growth has typically fueled rising wages. And without higher pay, workers have less money to spend and save — and that, in turn, keeps the economy from strengthening further.

http://abcnews.go.com/Business/wireStory/us-job-growth-rising-solidly-pay-25948431

[stevenleser]

7. See my #6. nt

[Go Vols]

9. Beings it hasn't been below 3.40%

in over 60+ years doesn't make me feel real good about this.

http://www.multpl.com/unemployment/table

[stevenleser]

11. See my #10 nt

[woo me with science]

13. TWENTY-THREE PERCENT.

It was not a recovery. It was a deliberate restructuring to benefit the One Percent.

No, the chocolate ration has not been increased. First goal is to get corporate money out of politics and government so that

1) the two corporate parties stop working aggressively on behalf of corporate interests and against the interests of the people

and

2) they start pouring resources into actual help for the 99 percent [font color=brown]instead of into relentless advertising to put lipstick on this pig of a corporate agenda: protection of criminal banks, corporate schools, Monsanto, drilling, nukes, wars of choice, austerity, TPP, TISA, etc, etc., etc. ad nauseum.

[/font color]

[Go Vols]

14. +1

[woo me with science]

12. The chocolate ration has been increased! (Low-wage jobs replace middle-income work)

The chocolate ration has been increased!

Bullshit.

The jobs that have been created in this "recovery" are mostly low-pay service jobs. The truth is that it was not a recovery. It was a restructuring to benefit the One Percent.

April 28, 2014: Most Of The Jobs Added Since The Recession Pay Low Wages
http://thinkprogress.org/economy/2014/04/28/3431351/recovery-jobs-low-wage/

Recovery Has Created Far More Low-Wage Jobs Than Better-Paid Ones
http://www.nytimes.com/2014/04/28/business/economy/recovery-has-created-far-more-low-wage-jobs-than-better-paid-ones.html?_r=0

Low-wage jobs proliferate as middle class ones disappear: job growth patterns since the recession
http://www.cleveland.com/business/index.ssf/2014/04/low-wage_jobs_proliferate_as_m.html

Low-Wage Jobs Replace Middle-Income Work, Study Finds
http://www.huffingtonpost.com/2012/08/31/low-wage-jobs_n_1846733.html

Careers Are Dead. Welcome To Your Low-Wage, Temp Work Future
http://www.forbes.com/sites/jmaureenhenderson/2012/08/30/careers-are-dead-welcome-to-your-low-wage-temp-work-future/

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Top 1% get 121% of income gains since 2009 (100% of new income + 21% from your old income)
http://www.democraticunderground.com/10022384139

How the 1 percent won the recovery, in one table
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/09/11/how-the-1percent-won-the-recovery-in-one-table/

Recovery for the Rich, Recession for the Rest
http://www.huffingtonpost.com/rj-eskow/recovery-for-the-rich-rec_b_3910615.html

The Rich Get Richer Through the Recovery
http://economix.blogs.nytimes.com/2013/09/10/the-rich-get-richer-through-the-recovery/

Incomes Flat in Recovery, but Not for the 1%
http://www.democraticunderground.com/1014400736

U.S. corporate profits stronger than ever, workers' wages fallen to lowest-ever share of GDP (CNN)
http://www.democraticunderground.com/10021922334

U.S. Income Inequality Now Worse Than Many Latin American Countries
http://www.democraticunderground.com/10022268073

Ranks of working poor increasing
http://www.democraticunderground.com/10022200197

Inequality Rages as Dwindling Wages Lock Millions in Poverty
http://www.democraticunderground.com/10022198286

The Middle Class In America Is Being Wiped Out – Here Are 60 Facts That Prove It
http://www.democraticunderground.com/10022144851

Child poverty rates increase unabated
http://www.democraticunderground.com/10022268450

40 Percent of Americans Now Make Less than 1968 Minimum Wage
http://www.democraticunderground.com/111631016

Corporate Profits Have Grown By 171 Percent Under ‘Anti-Business’ Obama
http://www.democraticunderground.com/1014372334

US poverty on track to reach 46-year high; suburbs, underemployed workers, children hit hard
http://www.democraticunderground.com/1002998131

Poverty, hunger among retirees increasing
http://www.democraticunderground.com/1002748342

The Economy is "Recovering" By Creating More Low-Wage Jobs... Increasingly Filled By Graduates
http://www.democraticunderground.com/10022602162

"Recovery" in US is lifting profits, but not adding jobs
http://www.democraticunderground.com/1014414149

Obama to use pension funds of ordinary Americans to pay for bank mortgage settlements
http://www.democraticunderground.com/1002205218

What Recovery? Across America, People in Distressed Cities and Small Towns Face Economic Catastrophe
http://www.democraticunderground.com/10022545596

Real wages decline; literally no one notices
http://www.democraticunderground.com/11172387

Wall Street Soars with Wealth as Wages Stagnate, Jobs Remain in a Slump
http://www.democraticunderground.com/12526154

Wages for bottom 90% declined 1.2% during 2009-2011 recovery, top 1% income grew 8.2%
http://www.democraticunderground.com/10022271466

Three Minimum Wage Jobs Needed To Afford Two-Bedroom Apartment
http://www.democraticunderground.com/10022578738

Wages have fallen to a record low as a share of America’s gross domestic product.
http://www.democraticunderground.com/10022183930

The Real Numbers: Half of America in Poverty -- and It's Creeping toward 75%
http://www.democraticunderground.com/10022906982
[/Rich Get Richer Through the Recovery
http://economix.blogs.nytimes.com/2013/09/10/the-rich-get-richer-through-the-recovery/

Incomes Flat in Recovery, but Not for the 1%
http://www.democraticunderground.com/1014400736

U.S. corporate profits stronger than ever, workers' wages fallen to lowest-ever share of GDP (CNN)
http://www.democraticunderground.com/10021922334

U.S. Income Inequality Now Worse Than Many Latin American Countries
http://www.democraticunderground.com/10022268073

Ranks of working poor increasing
http://www.democraticunderground.com/10022200197

Inequality Rages as Dwindling Wages Lock Millions in Poverty
http://www.democraticunderground.com/10022198286

The Middle Class In America Is Being Wiped Out – Here Are 60 Facts That Prove It
http://www.democraticunderground.com/10022144851

Child poverty rates increase unabated
http://www.democraticunderground.com/10022268450

40 Percent of Americans Now Make Less than 1968 Minimum Wage
http://www.democraticunderground.com/111631016

Corporate Profits Have Grown By 171 Percent Under ‘Anti-Business’ Obama
http://www.democraticunderground.com/1014372334

US poverty on track to reach 46-year high; suburbs, underemployed workers, children hit hard
http://www.democraticunderground.com/1002998131

Poverty, hunger among retirees increasing
http://www.democraticunderground.com/1002748342

The Economy is "Recovering" By Creating More Low-Wage Jobs... Increasingly Filled By Graduates
http://www.democraticunderground.com/10022602162

"Recovery" in US is lifting profits, but not adding jobs
http://www.democraticunderground.com/1014414149

Obama to use pension funds of ordinary Americans to pay for bank mortgage settlements
http://www.democraticunderground.com/1002205218

What Recovery? Across America, People in Distressed Cities and Small Towns Face Economic Catastrophe
http://www.democraticunderground.com/10022545596

Real wages decline; literally no one notices
http://www.democraticunderground.com/11172387

[DAMANgoldberg]

16. Just because a job...

is listed as being open and available doesn't mean:

1. It actually exists to place a person not per-ordained in that position;
   
2. Worded in such a way to exclude virtually everyone, as to show no American can do the job and then hire a foreign national at a reduced rate;
   
3. Only listed to perform a contract with a job board or state incentive requirements.
   

[davidn3600]

17. What kind of jobs?

It's getting close to shopping season.. a lot of retail may be hiring.

[stevenleser]

19. No, this was from August. nt

[closeupready]

18. Great news, IMO. I'll concede incomes don't match those of 2001,

when adjusted for inflation. That was a VERY hot year historically - tight labor market and a tech job market that was poaching labor from every industry.

At the same time, almost NO year of job creation will again match that kind of labor market. Eventually? Perhaps, during an economic upswing. And again, yes, the median income now does not buy what the median income did in 2001.

Still, I like this trajectory/development.

[linuxman]

20. I suppose that's what happens

when a 20hr a week position is the norm.

Woohoo! Double the jobs!

[stevenleser]

21. Nope. U-6 is paralleling U-3. nt

[closeupready]

22. Would you STOP being so upbeat?

What is wrong with you?

[stevenleser]

23. I know, right?