Cultural unemployment occurs when the jobs available are not desired by unemployed workers due to cultural patterns. Factory and truck driving jobs were desirable jobs a generation ago, but the culture has changed and now a large portion of the available labor pool is avoiding these careers.
If you are comfortable doing high school math, and would like a career where you positively impact someone’s life everyday by making things like human safety critical anti-lock brake or airbag components, medical device components, aerospace, fluid power control, and parts used in other critical technologies, consider a job in precision machining. Our job outlook is positive, and many shops we know are hiring.
Jobs growth tankedin March 2013 as more adults quit looking for work than found jobs. The fact that we aren’t training people with the skills that job openings today require just makes the situation worse.
The labor participation rate fell to 66.3 percent it’s lowest level in 34 years! Even the Huffington Post has figured out that this is a structural unemployment problem.
The reason everyone wants to describe our current unemployment situation as cyclical just might be because ‘cyclical unemployment’ is cause agnostic. Cyclical unemployment is defined as just “the deviation of unemployment from its natural rate.” The reality might be that the cycle is “40 years of failure in public education, undermining the family as a social building block, and extremist positions on the social safety net that keep job seekers at home instead of job seeking.