U.S. Jobs Opening Data Points To Skills Mismatch

[Purveyor]

(Reuters) - U.S. job openings surged to a 14-year high in February but a steady pace of hiring suggested employers are having trouble finding suitable workers, a trend that could put upward pressure of wage growth.

Job openings, a measure of labor demand, increased 168,000 to a seasonally adjusted 5.1 million, the Labor Department said in its monthly Job Openings and Labor Turnover Survey on Tuesday. That was the highest level since January 2001.

Hiring was little changed at 4.9 million in February, leaving the hiring rate steady at 3.5 percent.

"We interpret the combination of rising job openings and slower hiring as a potential sign of increased mismatch between the needs of employers and the skills of available workers," said John Ryding, chief economist at RDQ Economics in New York.

This implies employers will need to raise wages, whose growth has been tepid despite a sharp pick-up job gains.

more...

http://www.reuters.com/article/2015/04/07/us-usa-economy-jobs-openings-idUSKBN0MY1F320150407

[Newsjock]

1. 'Employers are having trouble finding suitable workers ...'

... who are willing to work for crap wages. Must have more visas!

[Erich Bloodaxe BSN]

2. So maybe offer on the job training?

And teach your workers exactly what you want them to do?

[procon]

4. Unions called that a journeyman program.

Do they still do that OTJ training?

[rogerashton]

3. Is it "skills" or other characteristics?

Since the crash of 2007-8, employers have been reluctant to hire the long-term unemployed. Some economists explain this (without evidence that I know of) by the claim that "human capital depreciates" when one is unemployed. One of the most important "skills" that is in short supply seems to be the "skill" of having remained steadily employed long term. But one real concern is that a person who has been unemployed for some time will take any job, but will then leave to move on to a better job as the economy improves. There may be a "skills mismatch," but more specific evidence would be needed to prove it. Which skills? What are the numbers?

[Man from Pickens]

5. RDQ Economics

hilarious - look up the background on its principals - chief economist and senior economist at one of the biggest failed financial institutions in history (Bear Stearns) - yeah I'm going to take advice from these guys uh huh

their website is built on Wix too LOL

[Nay]

6. Yeah, a lot of workers have TOO MANY skills to work at the crap jobs for crap pay. nt