Sun, 05/27/2012 - 06:32 EDT - NPR - National Public Radio (Business News)
Changes in the job market have meant fewer jobs for those with mid-level skills. Economists call the trend labor "polarization" and say it's forcing those in the middle to take jobs at lower pay.» E-Mail This» Add to Del.icio.us
The US hasn’t experienced "full employment" in at least a decade, but analysts at Goldman Sachs believe we'll have it again soon. "Consistent with our call for above-potential growth in the coming years, we expect employment gains to continue to substantially outpace trend labor force growth," Goldman’s David Mericle wrote in a note to clients Tuesday.
Economists refer to "job polarization" in the labor force when middle-class jobs (requiring a moderate level of skills) appear to disappear relative to those at the bottom (requiring fewer skills) and to those at the top — requiring greater skills; or those who are better networked and know people in a position of influence. (Below is a simple animation to show how job polarization might look).
A job training program has been helping older workers in rural Pennsylvania find jobs for more than four decades. Older workers are having an especially tough time finding work in the current job market.» E-Mail This » Add to Del.icio.us
Economists predict the job market rebounded in May -- adding about 500,000 jobs. The problem is that many of these jobs are temporary, the result of a surge in hiring for the U.S. Census.» E-Mail This » Add to Del.icio.us
President Obama recently announced plans to spend nearly $100 billion in 2011 solely on job creation. The proposed budget is aimed at reducing the nation's employment rate of 10 percent. But in a new book, labor activist Gabriel Thompson explores the current job market and takes a look at some of the least-desired jobs that always seem available.
By most accounts, the U.S. job market is in feeble shape, but employers have posted about 3.4 million job postings at various career Web sites. That's about half the number of jobs that have been lost since the start of the recession in December 2007, enough to employ a huge chunk of the millions of people who've lost their jobs.