With all the job market doom and gloom, there are still three million jobs open in the U.S.
No, it’s not all minimum-wage grunt work.The industry with the most jobs — as of February — was the education and health services sector with 625,000 open positions. That was followed by professional/business services with 471,000 open positions. Rounding out the top three were government jobs with 392,000 openings, according to the Labor Department.
That means nurses and accountants are still in demand.
But, there’s a problem according to the latest issue of BusinessWeek. First, people can’t sell their homes to move to the cities that have a large number of these kinds of jobs. Second, many job seekers “thrown out of shrinking sectors such as construction, finance, and retail lack the skills and training for openings in growing fields including education, accounting, health care, and government.”
The magazine continues:
As bad as it is now, the mismatch will create bigger problems when the economy begins to expand again. First, the unemployment rate is likely to remain distressingly high because many people who want jobs will lack the appropriate qualifications. Second, inflation could pick up sooner than expected if employers are forced into bidding wars to recruit the few people who are qualified for the work. Third, if unemployment stays high it will put additional political pressure on Congress and the Obama Administration to push through fixes that could make matters worse in the long run, such as insulating workers from the cost of long-term unemployment to the point where they lose their appetite for work.