Fewer jobs were advertised in August by employers then the previous month. Employers may be limiting the amount of hiring due to the unstable stock market and fears that another recession is around the corner.
Not only are fewer jobs being offered, competition for these jobs is rising. In a good economy, the ratio of people applying to jobs and jobs being offered is 2 to 1. Currently it is 4.6 to 1.
Jeff Joerres, Chief Executive of ManPowerGroup, which is currently the world's largest staffing agency, stated, "As soon as companies hear talk of a 'soft patch,' they hit the pause button on hiring."
This is causing employers to fill available positions at a slower rate; due to not finding "qualified applicants" to fill the position. Employers are also offering less pay for the positions available. This also may be a reason why employers cannot find qualified candidates to fill the positions. These days it may take up to 3 months to fill a position, if it is filled at all.
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