Economist Mike Walden: A First in the Job Market
I’m Mary Walden with economist MW welcoming you to the economic perspective. Today’s program looks at a first in the job market. Mike, I understand there was a record set for the national job market recently. What was it, and should we be celebrating?
- The record was, that for the first time, the number of job openings exceeded the official number of unemployed
- Record only goes back to 2000 when data were first collected
- Still, shows how much the job market has improved
- At the height of the Great Recession, there were almost 7 unemployed individuals for every job opening – now it is 0.9
- However, remember this is based on a strict measure of unemployment – no job, want a job, and have looked for work in last month
- Still, a milestone
And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economics.