zerohedge.com / by Tyler Durden on 12/26/2013 16:24 -0500
We are happy to announce that the job market is officially fixed.
It was almost exactly a year ago when we reported that Delta Airlines received 22,000 applications for 300 flight attendant jobs in the first week after posting the positions outside the company. The applications arrived at a rate of two per minute. Said otherwise, the precious few lucky hires had overcome an acceptance ratio of 1.3%. Putting this into perspective, the acceptance ratio at Harvard, the lowest of any university, is 5.9%.
Fast forward to today and once can clearly see an improvement: over the weekend, Southwest Airlines Co. which last hired flight attendants from outside the company in 2011, received applications at a rate of only 80 a minute, getting a paltry 10,000 resumes for 750 openings.
“It was the first time we did that in a while, and of course anytime we do it, it’s like opening up the floodgates,” Chief Executive Officer Gary Kelly told employees in a weekly recorded message. “We knew it would be the same this time.” So “this time is different” only works for the S&P. But more importantly, the Southwest acceptance ratio was a safety-school comparable 7.5%, or 13.333 applicants for every vacant spot. Comparing this to the 73.333 applicants that Delta got a year ago and one can see just how much “stronger” the US job market, not to mention the seasonally adjusted, inventory boost-driven economy has become.