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Old 08-30-2011, 05:46 AM
 
Location: South Central Nebraska
350 posts, read 628,099 times
Reputation: 280

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Quote:
Originally Posted by iamjacobm View Post
Omaha's unemployment rate is 4.7% realistically that is a little too low for a healthy community. 5% is the ideal. Omaha business can have a hard time finding qualified local citizens to fill their open positions because so many of the most qualified are already in the workforce.
Sorry but by the nature of it any unemployment is a bad thing. The ideal rate would be full employment, unemployment means not enough jobs for people or structural inconsistencies - the wrong kind of jobs for the wrong kind of skillsets. That said businesses particularly in ultra competitive markets (outside of Nebraska) don't like to hire people that they have to train - everyone wants several years experience but the paradox for new college grads is that you can't get the experience if someone isn't willing to train you. So "qualified" sometimes can become too demanding. I'm not familiar with the Omaha job market, it sounds fairly welcoming, but I would never say that any unemployment is a good thing or its too low - I think its terrible that there is 4.7% of the population out of work.
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Old 08-30-2011, 08:23 AM
 
Location: Midtown Omaha
1,225 posts, read 1,812,156 times
Reputation: 546
Quote:
Originally Posted by SCentralNEGuy View Post
Sorry but by the nature of it any unemployment is a bad thing. The ideal rate would be full employment, unemployment means not enough jobs for people or structural inconsistencies - the wrong kind of jobs for the wrong kind of skillsets. That said businesses particularly in ultra competitive markets (outside of Nebraska) don't like to hire people that they have to train - everyone wants several years experience but the paradox for new college grads is that you can't get the experience if someone isn't willing to train you. So "qualified" sometimes can become too demanding. I'm not familiar with the Omaha job market, it sounds fairly welcoming, but I would never say that any unemployment is a good thing or its too low - I think its terrible that there is 4.7% of the population out of work.
Totally disagree. A 0% unemployment rate would send us into a recession just as fast as 10% did.

0% would make inflation skyrocket and it would demand that the economy was only growing as fast as new people were entering the job market(essentially 0% when considering retirees).

It might be terrible on a personal level to see 4.7% unemployment, but from an economic and business stand point 0% would be a disaster.

This is one of the effects of capitalism.
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Old 08-30-2011, 09:06 AM
 
Location: South Central Nebraska
350 posts, read 628,099 times
Reputation: 280
Quote:
Originally Posted by iamjacobm View Post
Totally disagree. A 0% unemployment rate would send us into a recession just as fast as 10% did.

0% would make inflation skyrocket and it would demand that the economy was only growing as fast as new people were entering the job market(essentially 0% when considering retirees).

It might be terrible on a personal level to see 4.7% unemployment, but from an economic and business stand point 0% would be a disaster.

This is one of the effects of capitalism.
Sorry but there are a lot more people entering the job market or wanting to enter the job market than you believe (all of the children of the baby boomers). A lot of the baby boomers who lost $$$ in retirement money in the stock market crash aren't planning on retiring for an extremely long time so the growth in the job market pool definitely exceeds 0%.

That said I agree somewhat about the economic and business standpoint but I was speaking more from a personal level that the goal of our society from a moral standpoint is to have full employment - sometimes capitalism is too heartless.
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