Where Are The Jobs:The Untold Story Behind The Jobless Recovery?

Frank B. Leibold, PhD.- July 29, 2010


Increasingly newspaper headlines across America are asking this question.

Almost 18 months ago the $862 billion stimulus bill was passed by congress. The Obama administration claims that 3.5 million jobs have either been created or saved although neither can be substantiated. Yet since its passage another 3 million Americans have lost their jobs! Today we remain at a 9.5 percent unemployment rate-15 million people counting those who can only find part-time work- and the Department of Labor's DLS indicates that there are six job seekers for every available job and 46 percent of those unemployed have been for more than six months – both all time highs. Just this week new unemployment claims were 464,000. To date it has truly been a jobless recovery!
I believe the US economy has 'absorbed' the current underemployment level through innovation, re-structuring and productivity gains. With 70 million baby-boomers yet to retire the workforce is at its performance peak to have accomplished this. In my view these 15 million jobs are structurally gone and will not return as the economy rebounds!

Yet there is a more important issue facing future job seekers and the US economy that could significantly worsen employability opportunities.

America's Global Skills Gap

“The skills gap is one of the most pressing issues facing America’s workforce. Whether the baby boomers choose to retire at the projected rate or not, both situations will require a significant re-skilling of the workforce. The learning profession must take action on the skills gap in order to ensure the readiness and competitiveness of its workforce. Frank has carefully researched the skills gap in his new book. It’s an important read for a greater understanding of the issue and what we need to do about it.”
—Tony Bingham, President & CEO, American Society of Training and...