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In March, there were 1.9 job openings for every job seeker. This is the tightest labor market in history. April data this week (I expect it to be down a little)
by TradingPlaces 4y ago
In March, there were 1.9 job openings for every job seeker. This is the tightest labor market in history. April data this week (I expect it to be down a little)
https://fred.stlouisfed.org/graph/?g=Q1Po https://fred.stlouisfed.org/graph/?g=Q1Po
The reasons are workers who left the workforce in the pandemic (many older or women with children), and the lack of immigration.
- ldiracdelta 4y agoSounds like an advantageous negotiating position for those supplying the labor.
- TradingPlaces 4y agoYes. Labor demand is softening a bit, but actually kind of welcome because it is an inflation driver. April data just out. March revised up, so it was actually 2.0 openings per job seeker, April ticked down to 1.9 https://fred.stlouisfed.org/graph/fredgraph.png?g=Q27U https://fred.stlouisfed.org/graph/fredgraph.png?g=Q27U
- s1artibartfast 4y ago>This is the tightest labor market in history. This data only goes back to 2000. Do you have more data to support this claim? Not to discredit your point, I really appreciate someone bringing actual numbers to this discussion. It is noteworthy how high it is.
- TradingPlaces 4y agoJOLTS started then, and “job openings” is the JO in JOLTS. So no, but there are many other indicators as well, beginning with an unemployment rate near all time lows, and wages going up rapidly. FWIW, the second tightest was February 2020