JOLT! Over 2 Million More Job Openings Than Unemployed Workers

This is a very distorted economy thanks to massive Federal government fiscal stimulus and Federal Reserve monetary stimulus.

Today’s JOLTs report (job openings) shows a record number of US job openings. And a record number of job quits. But the interesting bizarro number is job openings (10,049,000) versus US unemployed (7,674,000). The difference is 2.055 million more jobs than there are unemployed persons.

Note that under Trump we saw job openings exceed the unemployed. Then Covid struck. And now job openings exceed the unemployed in even larger numbers.