Job seekers wait in line to apply for jobs being offered at the Amazon fulfillment center in Romeoville, Illinois. Photo: Scott Olson/Getty Images

"American Job Openings Now Outnumber the Jobless," per The Wall Street Journal's Eric Morath (subscription): "U.S. job openings rose to 6.7 million at the end of April, compared with the 6.3 million Americans who were unemployed."

Why it matters: "The labor market is forcing employers to rethink their approach to hiring ... If they can’t find workers to meet the demand for their products, they can’t help the economy grow. They may instead opt to close the restaurant early or not run a third shift at the factory."

  • That's the "the first time since such record-keeping began in 2000" that "the number of available positions exceeded the number of job seekers," according to the Labor Department.
  • What it means for workers: "Firms may need to pay more to attract workers, and some already are."
  • What it means for businesses: That raises costs and would cut profit margins if higher prices can’t be passed on to customers. If prices are raised, that stokes stronger inflation, which already has been accelerating in recent months."

The backdrop: "The jobless rate ticked down ... in May to ... 3.8%, the lowest since April 2000 ... The last time the rate was lower was in 1969, when young men were being drafted into the Vietnam War."

  • But, but, but: "There are, however, still an elevated number of Americans who are stuck in part-time jobs and would prefer full-time work. And others are employed but not in the jobs they want."

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4 hours ago - Podcasts

Facebook boycott organizers share details on their Zuckerberg meeting

Facebook is in the midst of the largest ad boycott in its history, with nearly 1,000 brands having stopped paid advertising in July because they feel Facebook hasn't done enough to remove hate speech from its namesake app and Instagram.

Axios Re:Cap spoke with the boycott's four main organizers, who met on Tuesday with CEO Mark Zuckerberg and other top Facebook executives, to learn why they organized the boycott, what they took from the meeting, and what comes next.

Boycott organizers slam Facebook following tense virtual meeting

Illustration: Sarah Grillo/Axios

Civil rights leaders blasted Facebook's top executives shortly after speaking with them on Tuesday, saying that the tech giant's leaders "failed to meet the moment" and were "more interested in having a dialogue than producing outcomes."

Why it matters: The likely fallout from the meeting is that the growing boycott of Facebook's advertising platform, which has reached nearly 1000 companies in less than a month, will extend longer than previously anticipated, deepening Facebook's public relations nightmare.

Steve Scalise PAC invites donors to fundraiser at Disney World

Photo: Kevin Lamarque-Pool/Getty Images

House Minority Whip Steve Scalise’s PAC is inviting lobbyists to attend a four-day “Summer Meeting” at Disney World's Polynesian Village in Florida, all but daring donors to swallow their concern about coronavirus and contribute $10,000 to his leadership PAC.

Why it matters: Scalise appears to be the first House lawmakers to host an in-person destination fundraiser since the severity of pandemic became clear. The invite for the “Summer Meeting” for the Scalise Leadership Fund, obtained by Axios, makes no mention of COVID-19.