Everyone says the U.S. government should foster an environment of job creation. I can’t argue with that. Thing is, some jobs are being created. Employers just can’t find anybody to fill them.
According to a recent Bloomberg BusinessWeek article, Narayana Kocherlakota, president of the Minneapolis Fed, estimates that this country’s current job opening rate is 2.3 percent. Filling all job openings would bring the country’s unemployment rate down significantly, from 9.6 percent to 6.5 percent.
Wow. That unemployment rate sounds a little closer to normal.