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Job Openings Hit 13-Year High

This is a discussion on Job Openings Hit 13-Year High within the Current Events forums, part of the Tech Support Forum category. The number of job openings across the U.S. economy reached a 13-year high in June and workers showed increasing willingness


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Old 08-13-2014, 06:52 AM   #1
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The number of job openings across the U.S. economy reached a 13-year high in June and workers showed increasing willingness to quit, signaling steady improvement in the labor market.

U.S. employers had 4.7 million job openings on the last business day of June, up from 4.6 million a month earlier, the Labor Department said Tuesday. That marked the highest number of openings since February 2001.

Job Openings Hit 13-Year High - WSJ
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Old 08-13-2014, 04:13 PM   #2
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There'd be one more if my 401k hadn't taken such a hit back in 08.
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Old 08-13-2014, 05:03 PM   #3
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That was ugly! ! . . Talk about a failed economic policy! ! !
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Old 08-15-2014, 03:08 PM   #4
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Rich , too bad those Jobs don't pay enough to live on, and around here they expect a college degree to get a job as a grounds keeper
yustr, at least you still have yours, mine was enough to retire on in early 08, then one day it was worth two burgers and fires at Burger King, I literally went form almost totallycomfortable middle class to working poor in a week
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Old 08-15-2014, 03:51 PM   #5
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Maybe they are hiring in your part of the world, things up here are still crappy.

Never had a 401K, I bought stock and sold in early 2008.

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Old 08-16-2014, 05:52 AM   #6
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I think the whole 401K system is a ripoff.

There are four things glaringly wrong with 401K's:


1: It effectively transferred the risk from the company to the employee while at the same time severely limiting the employee's options of how to invest the funds. In most companies you're forced to choose from a group of mutual funds that the company and their investment partner have selected. Sure you can roll it over to a plan outside that list but the company match will still be placed in that original account. In years past companies had to plan for their long term responsibility to fund retirements. They did that mostly by investing in R&D and expansion. Now, they just write a check from current income. Nobody really cares about 10 years from now or even about next year.

2: It forces most investments into funds controlled by wall street. Is it really any wonder that the stock market is so high? With so many retirement dollars entering the pool, prices have to rise to make us think we're actually gaining. Can you say ponzi scheme?

Which leads me to #3: probably the best investment any middle class person can make to secure his retirement is to pay off his mortgage. That's what our parents shrived for. I could pay mine off today with the money in my 401K but, of course, that's not allowed. Why? Because neither my bank nor the mutual fund that holds my money would benefit - only me. But who cares about me?

Which leads me to #4. during the recession of 2008 it would have been nice to be able to tap into my 401K to help bridge the time I was looking for work. Millions were in the same boat. But doing so would have incurred a stiff penalty. Seems a simple fix - Congress passes a bill that allow penalty free withdraws in certain circumstances. But that too would not benefit WS so can't do that.

<<Steps off soapbox and returns the station to our regularly scheduled programming>>
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Old 08-16-2014, 06:35 AM   #7
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Our 401k program was pretty good . . I was limited as to contributions so had an outside plan (converted to Roth IRA ) so that I could sock away what I wanted to. The company 401k plan actually outperformed my Roth plan over time. . The ability to save pre-tax dollars really adds to the multiplier effect over a long period of time.

As more and more companies move away from funding pension plans, the 401k becomes a larger part of total savings ( amazing how few folks have retirement savings these days ).

I thought there was a program that suspended the penalty for early withdrawal for a while after the Bush Recession??? There should have been! !

With interest at 3%, the Mortgage is the last debt to pay these days.
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Old 08-16-2014, 07:19 AM   #8
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Quote:
Originally Posted by Old Rich View Post
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With interest at 3%, the Mortgage is the last debt to pay these days.
Of course. But if that's your only debt wouldn't it be nice to be able pay it off more quickly by sending the monthly contribution AND company match there? But again, WS wouldn't like that and we all know about the golden rule: He who has the gold makes the rules.
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Old 08-16-2014, 07:43 AM   #9
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With the market growing like it has for the last few years, I'd be inclined to keep the low rate mortgage and put the money into the high yield stocks . .
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Old 08-16-2014, 08:39 AM   #10
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I am with yuster, pay off the house. That's what I did in early 2008. Had I kept what little stock I had, I would have lost a bunch of it.

What's high yield today, can be junk tomorrow.

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Old 08-16-2014, 10:44 AM   #11
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I have a less pessimistic view of the Market . . and very positive view of 401k plans . . The ability to grow pre-tax dollars with matching contributions by the company is very attractive. We had a variety of options, many of which were not Stock or Mutual Funds. We had a Fixed Income option that earned in excess of 15% for many years in the 70's - 80's . .

Wasn't there a move to allow early withdrawals at one time?? One thing I liked about the nonqualified Roth IRA's was the ability to make early withdrawals. . ( put four kids thru college! ! )
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Old 08-16-2014, 03:03 PM   #12
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I made early withdrawals......cost me 10% on taxes. There are provisions but you pay 10% penalty.

A friend of mine had a good chunk of change stashed away but lost 50% in 2008.....retirement was out of the picture after then. I don't know if he's recovered his losses since then. I pulled mine in 2000 and took the 10% loss......2008 would have been far worse.
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