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President Bush needs some strong job numbers between now and the election just to avoid an actual decline in the jobs total on his watch.
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In fact, the study documents a serious decline in the job picture for young people.
Stocks were little changed on Friday as fears about more bank losses and the biggest monthly decline in the job market in five years overshadowed earlier optimism that the credit crisis might be easing.
Rather, the decline in hires and separations is driven by a decline in the job-to-job flow rates as well as by declines in worker flows associated with secondary and short-duration jobs.
The narrowing establishment growth rate distribution, which explains 100percentt of the decline in the job creation and job destruction rates, explains only 37.3percentt of the declining hires rate and 32.0percentt of the declining separations rate.
Second, the fact that both work injury and fatality rates experienced by low-skilled native youth declined during the downturn hints on workload reductions as the primary driver, whereas misreporting seems to be the main reason for the decline in the job injury rate experienced by the average immigrant in Tables 7 and 8.
JOBLESS IN ILLINOIS Journalist and Galesburg native Scott Reeder needs only to look around his hometown for evidence of Illinois sharp decline in the job market.
And as much as the political narrative tells of workers losing their jobs to foreign competition, which is obviously true in some cases, the decline in those jobs is as much a function of automation as of global competition.
We see, similar to the other series, that much of the decline in job-to-job flows occurs during or around recessions, and that during the expansion between 2001 and 2007 job-to-job flow rates never recover to the level seen during the 1990s.
Changes in demographic and business composition do very little to explain the decline in job-to-job flow rates.
The decline in job-to-job flows has been noted by Bjelland et al. (2011) and Hyatt and McEntarfer (2012a2012b).
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