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Why Americans' confidence in finding a new job is tanking even as the labor market is humming along
(www.businessinsider.com)
this post was submitted on 21 May 2024
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They're measuring job offerings against unemployment claims rate. If there's toilet scrubbing jobs out there and you don't qualify for any benefits: that's a humming labor market to an economist.
I remind people that the fastest way to "create a job" is to take a full time position with benefits, cut the hours in half and divide them amongst two new positions after removing the benefits and now you have a 100% increase in the supply of jobs.
My first 'legal' job when I was a minor was working maintenance at a retirement facility. I was hired along with another high schooler at minimum wage.
It was a summer gig and right before I quit to go back to school the main maintenance guy revealed that we had replaced a single person who was paid our combined wage.
It is a long established strategy.
Haleon/GSK has almost exclusively started offering only coops/internships in upstate NY. Not a single non hourly/salaried position in the last 6 months. Laid off 40-50 in the last year, brought on a dozen students.
What does that mean? You can still claim unemployment if you don't apply to toilet scrubbing jobs