mind the gap
it’s very wide, economically speaking. a new report says that “only 2.4 million full-time permanent jobs were open, with 14.5 million people officially unemployed.” in plain english, there are six times the amount of people looking for full-time work than there are jobs. the gap between job seekers and jobs has consequences “the first consequence of this major imbalance between jobs and the jobless is that federal and state governments will be providing an unemployment social safety net that they really cannot afford…the other issue for government at all levels is that tax receipts will continue to stagnate at lower-then-expected levels, at least when compared to the federal budget. irs receipts may actually continue to drop, driving the deficit higher.” again, in plain english: the fed and the states will still need to pay out unemployment and there’s no money comin’ in to pay for it and there are no taxpayers to cover the fed and state nut.
so, mind the gap and let’s hope those with jobs don’t fall in.
photo courtesy of bixentro
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