The JOLTS Data is out and shows that job openings have reached a new high. Not just a blip up, but a new high with a new average high for the trailing 12 months. In other words, the trend is up. 6.17 million job listings in the US. That’s a big number.
We also have a record low labor participation rate currently. Some believe that this indicates that the job openings in general don’t pay enough to lure workers back to work. If businesses in general are going to have to increase salaries significantly to fill their needs that’s going to be a serious challenge.