Nearly four jobless for every job

The Bureau of Labor Statistics this morning released data showing there were 3.8 job seekers for every job in November 2008, up from 3.4 per job in October and from 1.8 per job a year earlier. “It’s getting harder to find employment than to be accepted at some elite universities,” said EPI economist Heidi Shierholz. “Seeing nearly four unemployed workers for every opening is a sobering indicator of how difficult it is to find a job in today’s weak market. With so few job openings it is easy to understand why nearly a quarter of unemployed workers have been out of a job for over six months.” The numbers are from the Job Openings and Labor Turnover series, or JOLTS.