In case we needed more proof that the US labor market is in a historic supply-demand mismatch crisis sparked by Biden's generous unemployment benefits, a few hours after the latest NFIB showed that it has never been more difficult for small business to fill job openings, moments ago the BLS confirmed what we expected: that the number of job openings in March (recall JOLTS is one month delayed) soared by a record 998K to 9.286MM in April from an upward revised 8.288MM in march, and the highest in the history of US jobs data!
The record number was also a record beat to the already lofty expectations of a 8.2 million print.
--->READ MORE HERE
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The U.S. Bureau of Labor Statistics released its April Job Openings and Labor Turnover Summary on Tuesday, and the numbers look great, yet troubling.
The report showed that a whopping 9.3 million jobs were created in the month of April, a 6 percent increase from March and the highest number ever reported by the BLS, which began keeping records in 2000.
It also reported the lowest percentage of firings and layoffs ever — a mere 1 percent. Jobs, Jobs Everywhere – But Nobody Wants Them
The BLS noted that “In April, the number of hires changed little at 6.1 million. The hires rate was unchanged at 4.2 percent.”
The hiring rate also remained unchanged. It is worth noting that May’s unemployment number was coincidentally the same — 9.3 million. --->READ MORE HEREFollow links below to related stories:
Job Openings Hit Record High as Biden Admin Continues to Incentivize Unemployment
Workers Aren’t Coming Back
Not Even The Soviet Union Paid People To Stay Home
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