There is a job vacancy waiting to be filled for every unemployed American — almost. The labour market has come within an inch of reaching that milestone for the first time in records going back to 2000. Job openings surged to a record 6.55-million in March, the labour department reported on Tuesday. That compares with the 6.585-million unemployed workers in March — just 35,000 more than the number of available positions. With rising vacancies helping to nearly close the gap with the number of unemployed, the job market is increasingly tight. The fact is likely be noted by Federal Reserve policy makers — the previous chair, Janet Yellen, often cited data from the Job Openings and Labour Turnover Survey, or Jolts. At this rate, vacancies could surpass the 6.35-million unemployed as of April (openings are released with a lag behind the more closely watched monthly jobs report). At the same time, the increase in job openings does not necessarily mean a boon for anyone who is unemployed,...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.