Job openings in the US now exceed the total number of unemployed by 352,000. New JOLTS data out this morning show 6.698 million job openings in April, while the total number of unemployed civilians was 6.346 million.pic.twitter.com/n7nHOBij2T
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Job openings in the US now exceed the total number of unemployed by 352,000. New JOLTS data out this morning show 6.698 million job openings in April, while the total number of unemployed civilians was 6.346 million.pic.twitter.com/n7nHOBij2T
This is largely due to available jobs being contract labor ~ minimum wage, and without benefits. The “underemployed” number is relevant, this also does not include the unemployed longer than 6mo. Jobs data is always displayed in a misleading way by both sides.
They don't care that most of these are low paying, bad jobs. Just enough for them to gloat.
Absolutely true that the vast majority of jobs created are very low wage. It takes a lot of effort to parse the real economic data in a jobs report, anything that is a clickbait one sentence headline, is surely misleading. You cannot get relevant information in one sentence.
You clearly know more than me, Jordan, so I'm curious - considering most of these jobs are low paying and there is a lack of supporting info, is it still not enough to say based on this that we are, at the very least, moving in a pretty good direction?
From this report, it is clear that there are a lot of “jobs” for which corporations are not hiring. Wage growth continues to be stagnant. Total people counted as looking for work decreased. That’s how the data is manipulated, they stop counting people who are looking 6+ months.
Thanks!
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