Tougher Job Competition Seen in the US
Tougher job competition among jobless Americans is seen in the United States as 6.3 percent of unemployed workers battle it out for a single opening.
The US Labor Department said that the figures are the highest since it has began tracking job openings in the US since 2000.
A new data released by United States Labor Department on Friday showed that competition among American job seekers have reached the highest point even after the recession has ended.
According to the Labor Department, hundreds of thousands of unemployed workers have to fight off each job opening as the market remained stiff. The data also showed that businesses are reluctant to hire new workers due to uncertainties on the flow of the US economy.
Based on records, some 6.3 percent of unemployed people compete for a job opening. The number was up from 1.7 percent before the recession started in December 2007.
The Labor Department said that the figures are then highest since is has began tracking job openings in 2000. The highest point that the job opening reached was only 2.8 percent in July 2003.
Many experts surveyed by the Labor Department are expecting the numbers to be cut down as the economy starts to show progress. These expectations are now being put to the shoulders of the Obama administration, adding to the burden of making new job openings.
Some 7.2 million jobs were lost during the height of the recession and major cuts in workforce are still being implemented by US companies in the wake of the economic slump.
Experts suggested that President Barack Obama should immediately address this problem by creating new jobs that can accommodate skills that are lost. They also said that the market is definitely moving, but hiring market has yet to make more sound acquisitions.
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