The 5
million job openings touted in the media are off-set by the almost 5 million
job separations each month.
The US
DOL reports:
Over the
12 months ending in April, hires totaled 62.4 million and separations totaled
59.7 million, yielding a net employment gain of 2.7 million. These totals
include workers who may have been hired and separated more than once during the
year.
Job openings
increased in a number of industries, with the largest changes occurring in
wholesale trade (+65,000), transportation, warehousing, and utilities
(+58,000), durable goods manufacturing (+46,000), and real estate and rental
and leasing (+41,000). Job openings decreased in professional and business
services (-274,000) and edged down for government (-31,000).
There
were 5.0 million total separations in April, little changed from March. Quits increased in arts, entertainment, and
recreation (+15,000) but decreased in construction (-45,000) and mining and
logging (-5,000). The number of layoffs
and discharges was little changed over the month for total private and for
government. In April, layoffs and discharges declined in professional and
business services (-81,000). The number
of other separations rose in health care and social assistance (+20,000),
accommodation and food services (+13,000), and information (+7,000).
Comments
The net
gain in jobs, reported as 2.7 million a year is not sufficient to make much of
a dent in the US labor participation rate.
There are still about 100 million working-age US citizens without
jobs. The US schools graduate about 2
million students every year and US immigration allows about 3 million
immigrants to the US every year. Excessive immigration to the US has added 61
million immigrants to the workforce over the past few decades.
Norb
Leahy, Dunwoody GA Tea Party Leader
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