4.7 to 1: The ratio of unemployed workers to job openings in December, per a Bureau of Labor Statistics report on the from the Job Openings and Labor Turnover Survey.
Despite month-to-month fluctuations, the job seeker's ratio has been generally improving since its peak of 6.3-to-1 in July 2009. However, at 4.7-to-1, the ratio is more than three times as high as its average ratio of 1.5-to-1 in 2007. The current 4.7-to-1 ratio means that for more than 3 out of 4 unemployed workers, there simply are no jobs.Emphasis original. B-b-b-but BOOTSTRAPS! The unemployed are just LAZY! And other COMPLETELY STUPID THINGS that Republicans say!
The millions of unemployed workers in this country continue to face a staggering scarcity of job openings. In light of this ongoing crisis in the labor market, the government should be doing much more on all three job creation fronts – fiscal policy, monetary policy, and exchange-rate policy.None of which include trickle-down economics.
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