Nationally, there are 4.5 unemployed people, on average, competing for each job opening. In a healthy economy, the average is about two per opening.
Let’s take the thought process further: If you count the “underemployed” in the economy, the unemployment rate would be at 10.6% instead of 9.1%, according to news reports. So the above 4.5 people per job ratio may be even higher.
Now combine the 14 million officially unemployed with the part-timers who want full-time work and with all the people who have stopped looking – and the unemployment rate would actually be 16.2%.
But don’t let the above bad news deter you from buying a Boston condo (from me of course). You can reach me at 617-595-3712.
File Under: My best Boston condo sales pitch of the day.