Skills Gap – Most evident in retail trade and restaurants

Floyd Norris has an interesting column comparing the numbers of job openings, hirings, and quits from 2007 with the most recent three months in 2014. The most striking part of the story is that reported openings are up by 2.1 percent from 2007, while hirings are still down by 7.5 percent.

While Norris doesn’t make this point, some readers may see this disparity as evidence of a skills gap, where workers simply don’t have the skills for the jobs that are available. If this is really a skills gap story then it seems that it is showing up most sharply in the retail and restaurant sectors. (Data are available here.) Job openings in the retail sector are up by 14.6 percent from their 2007 level, but hires are down by 0.7 percent. Job opening in the leisure and hospitality sector are up by 17.0 percent, while hiring is down by 7.4 percent.

Chosen excerpts by Job Market Monitor. Read the whole story at  The Skills Gap is Most Evident in Retail Trade and Restaurants | Beat the Press.