While the economy is coming out of it's latest recession, the economists and pundits discuss how long it will take for the job market to recover. I believe that the market never really recovered from the last recession.
I have been looking for another job for a long time now. I have one that I am doing fairly well in and have made some good friends as well. The problem is I commute 60 miles one way to get to work. My wife works closer to where we live and moving close to work is not really an option right now.
My point is I have been looking on and off for a while to upgrade my job and find somewhere closer to home or Downtown Chicago. The problem when I was looking a few years ago is that there was a recession and I was lucky to get into the company I work for now. At the time I was out of work and there was not much out there to chose from. At that time a recession was ending and all the experts said it would take time for the job market to come back.
When I kept looking at the time I got my job and my current company, I don't really think the job market improved to the point where there was an abundant amount of jobs available. I think the same will happen this time as well This means that the job market which never recovered from the last recession will have taken a second hit. This would be why unemployment is over 10%
Some of the reasons why the job market never recovered are the following;
Outsourcing: Companies sent tech support and customer service jobs overseas. I think these jobs may eventually come back because the quality of the customer service is so poor
Companies that layed the people off during the recession were able to make due with less people and never hired new people when the economy improved.
Technology: For some jobs new technology was able replace a human and do the job faster and cheaper. This save the company time and money.
I hope I am wrong with my analysis but I do believe that the recovery of the job market will take longer that a lot of people believe. Hopefully it will recover and people will be able to get quality jobs soon.
