6 November 2015 AD
During the Great Depression, unemployment peaked at 24.9% which translates to labor participation rate of 75.1%
Now in November 2015, the labor participation rate is 62.4%, translating to an unemployment rate of 37.6%.
Yes, you read correctly. Unemployment now is much more severe than it was during the peak of the Great Depression.
Let’s now look at housing and home ownership. It’s at least as good as it was back in 1995.
How is all this good news? Well, it’s good news for people like me, in that I am gainfully employed (self-employed, actually) and my home is mortgage-free.
Sadly, it’s not good news for tens of millions of Americans who are out of work and unable to buy a home.
Read Gallup Poll, “The Big Lie: 5.6% Unemployment” http://ow.ly/Ulihx
Read EE Times, “Fewer engineers unemployed, but total number of jobs shrinks” http://ow.ly/UliEc
Read WSJ, “Who Will Hire a Petroleum Engineer Now?” http://ow.ly/UliYS
So, what jobs are open? Nurses (#1) and truck drivers (#2) can go to work any day they wish.
The top ten most in-demand jobs are following:
- Registered nurses
- Truck drivers
- Customer service representatives
- Sales managers
- Sales representatives
- First-line supervisors or managers of retail sales workers
- Software quality assurance engineers and testers
- General and operations managers
- Managers (all other)
- Accountants and auditors
In summary, if you have an engineering degree, there are ample opportunities for you in the trucking industry. Copy, good buddy?
Do you notice a conspicuous absence from the above list “computer programmers”?
A friend of many years and a former truck driver says “turnover” drives the demand for fresh truck drivers. It’s the number two job opening, but it’s not a cakewalk job. Truck drivers have to deal with schedules, demanding bosses, innumerable laws and regulations and long lonely hours on the road away from home.
Good luck with your STEM education. Good luck with Obama’s job-killing environmental regulations that strangle entrepreneurship.