Closing America’s Jobs Gap
OPS_admin | Apr 17, 2010 | Comments 0
Pat Choate –
What is a “jobs gap?”
The “jobs gap” is the difference between the number of people at work and the number of people who want a job but cannot find one.
How big is America’s jobs gap?
In March 2010, the U.S. civilian labor force had 153.9 million people. Of these, 138.9 million were at work, creating an official unemployment rate of 9.7 percent. Full employment is about 4.0 percent unemployment, reflecting the constant churns in the labor force. Thus, by the official data, the gap is 9.7 minus 4.0: that is, 5.7 percent and 8.7 million jobs. Yet, the official unemployment rate does not count “discouraged workers,” or those marginally attached to the work force, or those employed part-time
for economic reasons. When the Labor Department counts all the jobless, America had an unemployment rate of 16.7 percent in March 2010 and thus a 12.7 percent gap — 19.7 million jobs.
Full Story: Closing America’s Jobs Gap | Economy In Crisis.
Filed Under: Economy - Labor
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