Jun 5, 2024 - Economy
Job openings fall back down to earth
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At the macro level, the labor market has fallen back to earth and landed in a pretty healthy place — cold comfort to folks who experienced the bounty of the post-pandemic job search.
Driving the news: In April, there were 1.24 job openings for every unemployed American — same as in October 2019, the all-time high reached before the post-pandemic recovery.
Flashback: At the peak of the job-hopping frenzy in March 2022, there were two job openings for every one unemployed American.
- The high ratio was great for workers who were able to command higher wages and many snagged better jobs. But it also was an inflation driver.
