Unemployed people per job opening drops(Read article summary)
The number of unemployed people available per open job used to be seven; now it's around four.
Hereâ€™s a picture out today from the BLS on the number of unemployed persons per job opening.Â Used to be seven; now itâ€™s around four.Â If you think of the job search as musical chairs, there are a few more chairs out on the floor for when the music stops.*Â
But still not enoughâ€“as you can see, it was one-for-one back in late 2000â€“now there was a tight labor marketâ€¦
*It was my old friend and former EPI colleague Jeff Wenger whom I first heard make this analogy with these dataâ€¦Jeff, you out there somewhere?