But that confidence is ebbing. And it's taking them longer to find a new job. In late January, Jerry Thompson lost his sales job at a mouse-pad manufacturer in Las Vegas. Though he has gotten offers, none recently has appealed to him. Four months ago, I could have had any job I wanted.
Employers can pick and choose, so it's a little frustrating.
The deteriorating labor market already seems to be hitting historically disadvantaged groups especially hard. Many people who would have been considered unemployable during prior expansions found entree into the work force in recent years through temp agencies. People recently leaving welfare rolls under tough new laws are particularly vulnerable. Many of those people can still find new jobs, but at much lower pay. No less impressive was the consistency of the earnings bounty.