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How Much Is Job Market Really Improving?
Ben Casselman / The Wall Street Journal / August 6, 2013
It’s getting easier for unemployed workers to find jobs. Whether they’re good jobs is another question.
There were 2.99 job seekers for every open job in June, the Labor Department said Tuesday, the first time the ratio has dropped below three since October 2008. Unemployed workers still have it a lot harder than in the mid-2000s, when there were consistently fewer than two workers per opening, but their prospects are far better than in the depths of the recession, when there were more than six job seekers for every job.
July data won’t be available for another month, but it likely showed further improvement: 19.8% of unemployed workers found jobs in July, according to Friday’s jobs report, the best mark of the recovery.