Business

Even as U.S. Job Market Picks Up, Unemployed Face Frustration

Published

12 years ago

February 7, 2015

In this Friday, Jan. 23, 2015 photo, Debbie Ramsawak, Director of Operations at the Hilton Bentley Miami Beach hotel, center, seated, talks with job applicant Zikey Cook, 24, left, during a job fair at the Hospitality Institute, in Miami. (AP Photo/Lynne Sladky)

Christopher S. Rugaber, ASSOCIATED PRESS

WASHINGTON (AP) — The job market remains a frustrating place for America’s 9 million unemployed — perhaps more so as hiring has accelerated along with job postings.

The pace of job growth over the past three months was the fastest in 17 years. The gains spanned nearly every industry, and some employers have finally had to dangle higher pay to attract or retain top talent.

And yet millions of job seekers still can’t find work. Some businesses remain slow to fill their openings, awaiting the ideal candidate. Many job seekers lack the skills employers require.

The plight of the unemployed also reflects an economic reality: Even in the best times, the number of job seekers is typically twice the number of job openings.

The January jobs report that the government issued Friday pointed to another factor, too: As hiring strengthens, more people typically start looking for jobs. As the number of job seekers grows, so does competition for work.

The number of openings has reached nearly 5 million, the most since 2001. Yet that’s barely more than half the number of people the government counts as unemployed.

“There’s always going to be a set of job vacancies, and there are always going to be a set of people transitioning from unemployment to work,” said Tara Sinclair, an economics professor at George Washington University. “The transition isn’t instantaneous.”

For many, the transition can be maddeningly slow. Complaints abound about online job sites that seem to function more as black holes than as gateways to employment. Applicants can’t get past online portals to explain gaps in their resumes. Multiple interviews and other steps — even for low-paying jobs — can prolong the process.

Carlie Kozlowich, 23, had three interviews last year with a marketing company for a job she was told would involve “travel” and “events.” Only after accepting the job did she learn it involved selling goods at a booth in a Costco. Having amassed roughly $50,000 in debt to earn a college degree, she felt she had to turn it down.

“Three interviews just to say, ‘Would you like to try a pierogi today?'” she said.

Steven Davis, an economist at the University of Chicago, calculates that it took employers an average of 25.6 working days to fill a job in November, the latest period for which data are available. That nearly matched July’s figure of 26, the longest in the 14 years that the government has gathered the data Davis uses.

An extended hiring period can in some ways be a positive sign: It suggests that companies are having a harder time finding workers because the economy has strengthened. The number of unemployed peaked at 15.4 million in October 2009, just after the recession ended.

Still, the fact that it takes companies so long to fill vacancies, even with 9 million people unemployed, suggests that more discouraging factors may be at play.

Some companies that are seeking high-skilled workers in fields like information technology and advanced manufacturing complain about a shortage of qualified candidates. Some recruiters and online job sites describe “skills mismatches.”

Paul D’Arcy, senior vice president at the job listings website Indeed.com, says lower-skilled jobs generally receive a flood of resumes, while higher-skilled positions attract far fewer.

Jobs in management, computers and math and architecture and engineering far outnumber job seekers in those fields, according to Indeed’s data.

That doesn’t sit well with Bill Gahan, 51, who has sought work for nearly a year after moving to Salt Lake City. Gahan worked in manufacturing and logistics for 29 years, including as a vice president for logistics at a manufacturer of hardware and software for visually impaired people.

Told that some experts think many of the unemployed lack the right skills, Gahan says, “I want to have a conversation with whoever is saying that.”

Increasingly, many economists agree with Gahan. Though skill shortages exist in some highly technical positions, if shortages of qualified workers were pervasive, employers would likely be offering higher pay. Despite a sharp gain in January, average pay still hasn’t risen much.

Many employers also remain highly selective, perhaps assuming there are still legions of unemployed to choose from. They may be right: There are 6.8 million part-time workers who would prefer full-time jobs — 50 percent more than in 2007, before the recession began.

The recession also left some companies reluctant to make permanent hires. They have turned instead to temporary and contract workers.

All that has left job seekers like Stephen Jones in a bind. A lawyer, Jones hasn’t found work since moving to Windermere, Florida, more than a year ago. Besides applying for positions as a lawyer, Jones has lowered his sights and sought legal assistant and paralegal jobs. Having sent out 200-300 resumes, he’s heard back once or twice.

“What do I do?” asked Jones, 32. “I’m overqualified for some jobs, and I’m underqualified for the jobs that I want to have.”

Many companies that want to hire don’t see the hurry.

Explorys, a health care data provider in Cleveland, plans to add 80 people to its 142-person staff this year, mostly in data analysis. The company uses a database to help hospitals manage and anticipate patients’ needs.

Cleveland is home to several major health care employers and research universities, so Explorys typically has “lots of good candidates” for jobs, says CEO Steve McHale, and tries to identify those who fit its culture and values.

“We probably say ‘no’ more than other companies,” he said.

Geography can pose a hurdle for some companies that want to hire.

Digi-Key, an online seller of electrical components, added 521 jobs last year as sales grew, raising its workforce to 3,300. Yet it’s located in Thief River Falls, Minnesota, a town of 8,500 an hour from the Canadian border.

It has offered relocation bonuses and arranged bus service to nearby cities to find applicants. But Rick Trontvet, vice president for human resources, worries that those measures won’t be enough as the company grows.

“We have so many jobs and so few people to fill them,” Trontvet says.

____

Contact Chris Rugaber on Twitter at http://Twitter.com/ChrisRugaber.

###

Reporter II

Posts by Reporter II

Up Next

Even as U.S. Job Market Picks Up, Unemployed Face Frustration

Don't Miss

Why Are Gas Prices Suddenly Heading North?

Reporter II

Click to comment

Business

JPMorganChase Expands San Francisco Housing Investments Under $750 Billion Initiative

OAKLAND POST — In San Francisco, JPMorganChase will provide nearly $200 million in financing for a 342-unit residential building at the Power Station development in the Dogpatch neighborhood. The firm previously financed the Sophie Maxwell Building at the site, which opened in 2025 with 105 permanently affordable apartments for middle-income residents.

Published

1 day ago

August 6, 2026

bpusa-syndication

JPMorganChase is expanding its housing investments in San Francisco, committing nearly $200 million to a new residential development and millions more to affordable housing projects, research and community organizations working to address the city’s housing shortage.

The San Francisco effort is part of the firm’s American Dream Initiative, through which it plans to deploy more than $750 billion nationwide through 2035 to increase housing supply and support homeownership. The commitment represents a nearly 40% increase over its housing investments during the past decade.

In San Francisco, JPMorganChase will provide nearly $200 million in financing for a 342-unit residential building at the Power Station development in the Dogpatch neighborhood. The firm previously financed the Sophie Maxwell Building at the site, which opened in 2025 with 105 permanently affordable apartments for middle-income residents.

The company also plans to invest up to $15 million in Fifth Space’s new Essential Housing Fund, which will support affordable housing development in San Francisco, including an expected 250 units in Potrero Hill.

“Too many families are struggling to make rent in San Francisco, and our administration is working every day to help them stay here. Building housing is a critical piece of that work, and we’re taking an all-hands-on-deck approach to make that happen,” said Mayor Daniel Lurie. “JPMorganChase’s investment in housing reflects their commitment to San Francisco’s future, and these projects with hundreds of new homes show what we can do when the private sector and the city come together to tackle the issues that matter to families.”

Another $6 million in grants will go to the San Francisco Housing Accelerator Fund, Community Vision Capital & Consulting, San Francisco Bay Area Planning and Urban Research Association, the Housing Action Coalition and Housing California. The firm will also support housing research by the Urban Land Institute Foundation, Terner Labs and other institutions to develop local policy recommendations.

Nationally, JPMorganChase aims to finance the construction or preservation of 1 million affordable housing units for households earning less than 120% of area median income. It also plans to help 500,000 customers, including 200,000 first-time buyers, purchase homes by increasing mortgage lending by more than 40% and hiring 850 home lending advisers.

“JPMorganChase has a decades-long history of supporting San Francisco’s housing ecosystem—working with developers, community organizations, and local government to help bring more housing to market,” said Noah Wintroub, global chair of J.P. Morgan. “Through the American Dream Initiative, we’re ready to do even more. With the right public policies in place, the firm can provide more capital for housing, scaling solutions that help expand supply and affordability.”

bpusa-syndication

Posts by bpusa-syndication

Activism

Oakland Post: Week of August 5 – 11, 2026

The printed Weekly Edition of the Oakland Post: Week of August 5 – 11, 2026

Published

1 day ago

August 6, 2026

Oakland Post

To enlarge your view of this issue, use the slider, magnifying glass icon or full page icon in the lower right corner of the browser window.

Oakland Post

Posts by Oakland Post

Business

How Oakland’s Courtsmith is Scaling its Business and Local Impact

OAKLAND POST — “As Courtsmith grew, scaling wasn’t just about selling more—it was about building the infrastructure to deliver consistently, with a strong supply chain and production process,” said Courtney Smith, founder of Courtsmith. “We needed the right kind of capital and partners to help us expand without losing the Oakland authenticity that made us who we are.”

Published

6 days ago

August 1, 2026

bpusa-syndication

With support from ICA Fund and JPMorganChase, founder Courtney Smith is strengthening his supply chain, creating jobs and expanding local production, and positioning the Oakland-born brand for long-term growth

When Courtney Smith founded Courtsmith in Oakland in 2014, he was building more than an athletic apparel company. A lifelong basketball enthusiast, Smith saw an opportunity to create performance wear that reflected the culture of the game—its style, community and sense of belonging.

From the beginning, Courtsmith was rooted in the idea that basketball is not just a sport, but a lifestyle and a community. The brand set out to make athletes look and feel good on and off the court while building partnerships that give athletes a stake in the products and stories they help shape.

“As Courtsmith grew, scaling wasn’t just about selling more—it was about building the infrastructure to deliver consistently, with a strong supply chain and production process,” said Courtney Smith, founder of Courtsmith. “We needed the right kind of capital and partners to help us expand without losing the Oakland authenticity that made us who we are.”

As the company grew, Smith faced a common challenge for small businesses: maintaining quality, reliability and authenticity of products while scaling—and having the resources to do so. The next move was not simply about expansion; it was about building the infrastructure to last.

That is where ICA Fund—a Bay Area impact investor, small business support organization and long-time partner to Courtsmith—came in. ICA’s relationship with Smith began in 2017 through its Growth Strategies advising program, and over time, the organization paired mentorship, technical assistance and capital to help the company grow with intention. More recently, philanthropic support from JPMorganChase helped ICA expand the range of capital products it can offer entrepreneurs like Smith, including options designed for companies that are ready to scale but may not be a fit for traditional debt products or equity investments.

“Too many great businesses stay stuck small without access to fair and flexible capital— ICA Fund’s role is to change that,” said Allison Kelly, CEO of ICA Fund. “With support from JPMorganChase, we’re able to provide founder-friendly financing alongside long-term partnership, giving entrepreneurs the tools they need to grow stronger businesses that create opportunity in their communities.”

The right kind of capital for a new stage of growth

ICA recently provided Courtsmith with a loan to help it buy a local manufacturing business, a major step toward bringing more of its production process closer to home, strengthening its supply chain, reducing costs, continuing its growth and creating local jobs.

The transaction also marked a milestone for ICA: the first time the organization approved capital for a merger-and-acquisition transaction. It reflects a broader expansion of the financing options it offers, supported by JPMorganChase’s American Dream Initiative, which aims, in part, to help power 10 million small businesses—up from seven million today—over the next several years with the capital, coaching, tools and practical policy support they need to thrive. It’s also an example of the kind of tailored support—delivered through trusted local pathways and the firm’s own relationships—that JPMorganChase provides to small businesses in the Bay Area, including our more than 295,000 small business clients.

“Small businesses are the backbone of our economy, and Courtsmith’s story shows how access to the right capital at the right time can unlock growth,” said Gwyneth Galbraith, Vice President for Global Philanthropy at JPMorganChase. “By supporting organizations like ICA Fund, we’re helping expand access to the kinds of financing and guidance entrepreneurs need to strengthen operations, create jobs and build lasting businesses across the Bay Area.”

Building with staying power

For small businesses, access to financing that fits their stage of growth can determine whether expansion is sustainable. A one-size-fits-all approach does not always work for companies with distinct cash-flow cycles, customer demand and operational needs. In Courtsmith’s case, the ICA loan gave the company a path to invest in its future while preserving the founder’s vision and control—and reflected the kind of flexible financing JPMorganChase is helping expand through its support of local community and mission-driven lenders.

Courtsmith’s trajectory reflects that momentum. The company reports that revenue grew 259% from 2021 to 2025, while its workforce expanded from four employees in 2017 to 13 in 2025, including growth in full-time roles from one to 11.

Behind those numbers is a company deepening its roots in Oakland through local partnerships, community presence and a model built to last.

“Courtsmith is about Oakland, representing the culture that raised us and creating opportunity for the next generation,” said Smith. “With ICA Fund and JPMorganChase in our corner, we can keep turning that mission into something people can see and feel in our community.”

Courtsmith’s next chapter is still being written, but the path is clearer: a founder-led brand with deeper local production capacity, a stronger supply chain, and a larger role in Oakland’s small business economy.