More Jobs than Jobless
For the first time since the U.S. government began keeping records in 2000, the number of available positions exceeded the number of job seekers. In April 2018, U.S. job openings rose to 6.7 million, higher than the 6.3 million Americans who were unemployed. This means that the US economy is facing a historically tight labor market. This may present a challenge to businesses if they cannot find workers to meet the demand for their products and services. It may also place upward pressure on wage inflation. We are watching to see if the latest report is an aberration or part of a continuing trend.