The Wall Street Journal
July 19, 2012
Three years into this recovery, and demand for labor in the U.S. remains weak. Jobless claims remain at elevated levels and the Wall Street Journal reports major banks are preparing to hand out more pink slips.
Yet even in a time of 8% unemployment, some jobs go begging. Surveys reveal a significant share of companies report difficulties filling certain jobs.
What’s a company to do when it can’t find workers with needed skills? Work its current employees for longer hours. That’s the conclusion by economists at the Conference Board. The trend suggests a further split in consumer confidence about the labor markets: offering job security to some while most workers still worry about layoffs.