Over at the Fiscal Times, I have a piece explaining why it is that, with 5 million job vacancies, there are still 8.7 million unemployed Americans:
That’s more job openings than we’ve had at any time since 2001. It’s even true in proportional terms: If we account for population growth and express vacancies as a share of the labor force, the current job openings rate of 3.2 percent is still at a post-2001 high. It’s a pretty good time to be a job seeker. Or at least it could be—if you know where to look for jobs and you have the skills employers are seeking.
The problem is, while the national discussion spends a lot of time on labor supply, it doesn't adequalty touch on demand—namely, where are the jobs? You can read more of my discussion on the demand-side of the labor market at the Fiscal Times. And, for an even deeper dive, check out “Where Are the Jobs?” my most recent installment in the Working Paper Series.