JOLTS Says The Unemployed Are Being Squeezed Dry

You may or may not know it but, those same people that keep track of our unemployment rate, the Bureau of Labor and Statistics, also keeps track of our national "job postings" in something that is called the "Job Opening and Labor Turnover Survey; also knows as the JOLTS report.

The reason that this report is so important is because it tells us whether or not companies are hiring. Unfortunately for the 15+ million who don't have jobs in America, the news is not good. Once again, the number of listed job openings in the nation has fallen (Click to See Full Story: "Job openings down 50% from the peak in 2007"). Statistically, that report now shows that there are about 6.5 unemployed persons who could be vying for each new job opening.

This information coincides with the constantly rising number of people who remain on unemployment compensation rolls each month. Worse than that, it also means that many unemployed workers have little hope of getting another job. No matter how many jobs this Administration says it has saved or created, this is a very painful situation that only keeps getting worse for a lot of American families.