Economy added 204,000 jobs in October; unemployment rate ticks up to 7.3 percent [camera]
"The job market is actually narrowing," said John Silvia, chief economist at Wells Fargo. "There's a smaller group of people working, but they are prospering."Judy Chudars, founder and president of CityStaff, a job placement firm, works with hundreds of recent graduates in the Washington region and said there is a healthy demand for those candidates. In fact, one of the biggest challenges that firms face now is snapping up applicants before they are hired somewhere else, she said.In addition, Chudars said, more people are voluntarily leaving their jobs for lateral positions —alligator shear a key characteristic of a healthy labor market that economists call "churn."
"They have options and things are moving quickly," Chudars said.But for many of the nation's 11.3 million unemployed workers, the outlook is very different. About a third have been out of a job for six months or more, while 815,000 were officially classified as so discouraged by their prospects that they had stopped looking. The report showed that 720,000 people left the labor force in October,alligator shear an unusually large decline.There have been small signs of progress for those hardest-hit: The average length of unemployment has come down from its peak of nearly 41 weeks in 2011. But analysts worry that many of those workers have lost skills and connections that could help them land a new job.
In an interview, Labor Secretary Thomas Perez called for new spending on infrastructure and immigration reform to boost the economy and create new jobs. But he added that worker training is also needed to ensure that businesses can fill open positions."I'm heartened by the numerous conversations I have with employers who say, 'I want to grow my business,'?" Perez said. But they often add that "too many people coming through the door don't have the skills that I need."The bifurcated labor market has also complicated policymakers' efforts to jump-start the recovery. The Federal Reserve has tied its multibillion-dollar economic skin analyzer stimulus program to the health of the labor market. But it has been frustrated by declines in the labor force participation rate and by the muddy outlook for jobs.
This is my favorite article:Machine-tenderized beef may require tougher labeling
"They have options and things are moving quickly," Chudars said.But for many of the nation's 11.3 million unemployed workers, the outlook is very different. About a third have been out of a job for six months or more, while 815,000 were officially classified as so discouraged by their prospects that they had stopped looking. The report showed that 720,000 people left the labor force in October,alligator shear an unusually large decline.There have been small signs of progress for those hardest-hit: The average length of unemployment has come down from its peak of nearly 41 weeks in 2011. But analysts worry that many of those workers have lost skills and connections that could help them land a new job.
In an interview, Labor Secretary Thomas Perez called for new spending on infrastructure and immigration reform to boost the economy and create new jobs. But he added that worker training is also needed to ensure that businesses can fill open positions."I'm heartened by the numerous conversations I have with employers who say, 'I want to grow my business,'?" Perez said. But they often add that "too many people coming through the door don't have the skills that I need."The bifurcated labor market has also complicated policymakers' efforts to jump-start the recovery. The Federal Reserve has tied its multibillion-dollar economic skin analyzer stimulus program to the health of the labor market. But it has been frustrated by declines in the labor force participation rate and by the muddy outlook for jobs.
This is my favorite article:Machine-tenderized beef may require tougher labeling
2013-11-12 12:23
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