Photo Credit-Ariel da Silva Parreira/ Returning back to work
Over 250,000 unemployed job seekers in Michigan, and millions more across the nation, desire to return back to the workforce. The current unemployment extension law, allows layoff individuals though no fault of their own, to receive continued supplemental income payments until November 30, 2010.
For another group of job seekers, the 99ers or Exhaustees, no additional income assistance payments are available, at this time. The "99ers" have been without unemployment compensation since April 2010.
An August 2 article by Detroit Job Search Examiner-Monica Ross-Williams, noted Senator Debbie Stabenow's (D-MI) spokesperson Miguel Alayna stating that the chances are passing what would be known as a "5th Tier" extension, are slim. Senator Stabenow is willing to draft a bill for the "99ers" but it is doubtful that, such a bill will pass a filibuster test, within the Senate.
How Tough is it for the Unemployed to Obtain New Employment?
The nation's unemployment rate stands at 9.5 percent, with Michigan's rate sitting at a double-digits level-13.2 percent; which is the second highest in the United States, next to Nevada. Many of Michigan's unemployed job seekers and others, have been demoralized by both the length and depth of the current economic recession, that started almost three years ago in 2007.
Belt-tightening financial measures, by many companies have created what would be called an "Employer's Market", with unemployed job seekers sending on the average hundreds of resumes in the hope of one interview. The Bureau of Labor Statistics has noted, that for every job opening, up to five candidates are applying for an opportunity, depending on where you live.
John Wohlford, the bureau's branch chief for the Job Openings and Labor Turnover Survey, says it's like the unemployment rate. It's 9.4 percent nationwide, but it could be higher or lower depending on where you live, according to a San Francisco Gate.com:
Likewise, your odds of getting a job could be much worse than 1-in-5 if you live in California, "but the jobs are in New York or if the jobs are for Web designers and biochemists but you are a carpenter or mechanic," Wohlford stated.
With these daunting statistics, it is understandable how unemployed job seekers, especially those who have been looking for a new work opportunity for up to two years or more, can become discouraged.
Is the Small Business Lending Bill the Answer to High Unemployment Rates?
Upon Congressional representatives return during the week of September 12, it is expected that Senator Majority Leader Harry Reid (D-NV) will re-introduce the Small Business Lending bill. Republicans' successfully filibustered the first attempt, to end debate on the bill in the Senate on July 29, by a 58-42 vote. The purpose of the legislation is to provide up to 50 million dollars in funding for community based banks can assist small business owners with obtaining loans and lines of credit.
The Office of Advocacy of the Small Business Administration shows that small businesses, which is defined as any business with fewer than 500 employees, account for 99.7 percent of all employer firms in this country.
The table below by Scott Shane of the New York Times, summarizes the Bureau of Labor Statistics data on net job creation from the third quarter of 1992 through the third quarter of 2008 for each of these groups of firms and large businesses.
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Current data also suggest that small firms are more likely than larger firms, to hire within the next two months. More than half of managers replying a Society for Human Resources Management survey for the Third Quarter 2010, indicated that companies would likely maintain current staffing levels in the third quarter; while 36 percent of professionals in small organizations reported they're likely to hire. A little less than a third of professionals at large organizations said their companies were likely to hire through September.
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Comments
can we clarify something??? What the JOLTS statistic refers to is not how many people per opening, as in how many people you are in competition for that position. No, the amount of people applying for each position is much higher.
What that number really means is that there are up to 5 times as many unemployed as the number of jobs available. When you add in the underemployed, the people applying for multiple positions, and the people currently working that are trying to find work, the number of people applying is definitely much higher.
It's hard to find good news in the economy and with the unemployment rate, but I do find some comfort that small businesses might be hiring in the new few months.
I am in those stats, unemployed (other than freelance).
At one time we all had jobs, now there are more unemployed that jobs available. One thing employers should take into consideration is those who have families to feed before hiring. If the parents don't have jobs that means all those younger ones won't have a place to live or food on the table.
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