Unemployed people per job opening drops
The number of unemployed people available per open job used to be seven; now it's around four.
Here’s a picture out today from the BLS on the number of unemployed persons per job opening. Used to be seven; now it’s around four. 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.*Skip to next paragraph
Before joining the Center on Budget and Policy Priorities as a senior fellow, Jared was chief economist to Vice President Joseph Biden and executive director of the White House Task Force on the Middle Class. He is a contributor to MSNBC and CNBC and has written numerous books, including 'Crunch: Why Do I Feel So Squeezed?'
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But still not enough–as you can see, it was one-for-one back in late 2000–now there was a tight labor market…
*It was my old friend and former EPI colleague Jeff Wenger whom I first heard make this analogy with these data…Jeff, you out there somewhere?
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