Posted on 05/11/2021 9:17:35 AM PDT by SeekAndFind
In case we needed more proof that the US labor market is in a supply-demand mismatch crisis, a few hours after the latest NFIB showed that it has never been more difficult for small business to fill job openings, moments ago the BLS confirmed what we expected: that the number of job openings in March (recall JOLTS is one month delayed) soared by a massive 597K to 8.123MM in March from an upward revised 7.5MM in February, and the highest on record!
The actual number was a 6-sigma beat to already lofty expectations of a 7.5 million print.
Looking at the details, the increase in job openings was driven by industries with the largest increases in accommodation and food services (+185,000); state and local government education (+155,000); and arts, entertainment, and recreation (+81,000). The number of job openings decreased in health care and social assistance (-218,000). The number of job openings increased the most in the Northeast and Midwest regions.
Separately, in yet another indication of the record surge in demand for labor since the collapse last April when there were 18.1 million more unemployed workers than there are job openings - the biggest gap on record - the gap has since shrunk dramatically to just 2.6 million in February, down from 3.2 million in January. Yes: despite the covid shock, there are just 1.6 million more unemployed people than there are job openings!
As a result, there has been even more continued improvement in the job availability series, and in March there were 1.19 unemployed workers for every job opening, down from 1.35 in February and from 4.6 at the peak crisis moment last April.
Meanwhile, confirming the accelerating in the hiring picture as covid lockdowns were lifted, in March hiring surged for a 3rd consecutive month to 6.009MM, up 215K from 5.794MM in February.
According to the BLS, hires increased in state and local government education (+62,000); educational services (+31,000); and mining and logging (+17,000).
Curiously, as hires soared, the number and rate of total separations actually declined by 107K to 5.322MM. The total separations level decreased in construction (-82,000) and in state and local government education (-25,000).
Finally, confirming the overheating in the labor market sparked by "Biden's trillions" and the tsunami of unemployment benefits which has prompted a wave of revulsion toward work in general, in March the level of quits - or people leaving their job voluntarily due to better prospects elsewhere - rose by 125K to 3.508 million, after rising by 77K in the previous month. The number of quits increased in accommodation and food services (+63,000) and in information (+16,000). Quits decreased in state and local government education (-19,000)
Progressives insist this is proof businesses should pay workers more.
The one and only time I collected unemployment was about 25 years ago. I had lived in PA up until then (and do now) but had recently moved to WI.
My temporary job ran out, so I decided to file for unemployment in WI, not realizing how things worked. They forwarded my claim to PA.
Funny thing was they sent me about 2 or 3 checks before they realized they had overpaid me by x amount. I was already back to work by then. Instead of making me pay the difference, the claims official I was talking to told me they would deduct the money from my next unemployment claim . . . which still hasn’t happened.
If I do become unemployed again, I wonder if they will remember?
There is no “trick” in understanding how commodity markets work ( labor is a traded commodity ) unless you are a stupid moron.
Verse 38 (81 Encounters with Tao Te Cheng)
High virtue isn’t virtuous,
thus it truly has virtue.
Low virtue never frees itself from virtuousness,
therefore it has no true virtue.
A person of highest virtue takes no action,
has no private ends to serve.
A person of lower virtue puts forth effort,
having many causes to act.
A highly humane person acts
without any particular end in mind.
A highly righteous person acts
for many justifiably good reasons.
A person of high propriety acts
and when no one responds
rolls up his sleeves and forces people to comply with the rituals.
So when the Way is lost,
that’s when we resort to virtue.
When virtue is lost,
that’s when we resort to humaneness.
When humaneness is lost,
that’s when we resort to morality and righteous justice.
And when righteous justice is lost,
that’s when we resort to ceremonies of propriety.
Ritual ceremonies? Mere husks of sincere faith,
marking the beginning of confusion and disorder.
Foreknowledge is a blossomy ornament of the Way,
the beginning of delusion.
The true person
relies on the heart not the husk,
the fruit not the flower,
leaves that for just this.There is no virtue in being yourself, only vivacity.
If you are attached to thinking of yourself as a virtuous person you can easily feel threatened when other people question your motives, criticize or disagree, or thwart your good intentions. If you aspire to be a good person, you risk the pitfall of thinking you are not good enough—in which case you may turn your anger and despair inward or project it out onto others.
Just being human is enough; it connects you to everyone else in your shared flawed humanity. Living is not a quest for brownie points or gold stars. You don’t need a reason to exist, any more than you need a reason to defend your liking for ice cream that is chocolate rather than vanilla. As soon as you feel a need to justify yourself you become trapped in right and wrong. If you convince yourself your beliefs are righteous you may be inclined to proselytization, and from there it’s a short step to inquisition, earthquakes, and executions.
Instead of striving to conform to some moralistic ideal, you can just be your ordinary self and accord with whatever the circumstances demand of you. If you try to make circumstances fit your ideology rather than the other way around you may become frustrated; you may use excess force to try to make things go the way you think they “should” be and exhaust yourself.
There is no need to prop yourself up by being proper. In popular parlance: be real. The gateway to compassion doesn’t hold people to some ideological standard but recognizes all being has its function and place. Prescriptive moral codes and restrictive laws are usually prejudices clothed in moral majorities: they provide justifications but not justice.
The truth of your being is not a matter of being correct in ceremonies of yourself. Your true person is not somewhere far away but always present: it is the gift of your presence fully bestowed right here, right now.
In 1975 I moved out of Texas and into AZ and filed unemployment claims against Texas and after some wrangling back and forth I began receiving multiple checks of unemployment in a catch-up process.
I am not sure how many states at that time had such an option, and I have no idea whatsoever today about interstate unemployment claims but one may be able to still file on a state that one worked in but moved out of, for the right qualifying reasons.
I changed my life and philosophy to where I would never file for unemployment even if or when I am eligible. I realize it can be a lifeline for some people and so I say go baby go.
It's still a huge labor market deformation, and the outcome isn't going to be what folks are hoping it will be (higher wages). Rather it will be more small business closures and higher unemployment, unless the free lunch program is ended, and soon!
So will these ex entrepreneurs get "real" jobs?
That was implied in my response.
that said, the feds are using taxpayer money to artificially inflate wages which is nothing new.
It’s all a big F’ing mess.
welfare pays better. why work?
Red states are doing the right thing and cutting the unemployment off.
Being real Americans, entrepreneurs will get up, dust themselves off, and create new businesses. Ones that don't require the hiring of lazy ingrates and no-talents, even -if it means selling hotdogs from a stand.
Entrepreneurs aren't the type to sit around pissing and moaning that they lost their fork-lift driving job for which they were overpaid decades ago and now nobody will "give" them a high paying job.
I think this is a big part of what's going on. I sure as hell wouldn't take a job that required to masked all day. I like to breathe.
Maybe learn to code.
I was talking to a friend the other day. He said he took his wife to Ruth’s Chris for their anniversary. He got to talking to a waiter about how hard it is to keep people. He said when the first closure happened, they let go 80 people. They re-opend and less than 60 answered the call. They closed and opened again and they are down to a core of 35. He said he gets a $5k bonus if he hires someone that stays at least six months. He said sous chefs start at $35 an hour, and the guy that pours water is getting $30 an hour. With benefits.
Indeed. I did. Life is good.
We’re in a seriously inflatiinary environment. Employers should be upping their pay, but probably have to learn the hard way that it is needed before they will begrudgingly do so. It is the stubborn ones who can’t find the help thwy need.
The Deep State plan is working. Let in millions of illegals to work the jobs, and pay millions of Dim-voting US citizens to NOT work.
Once this spigot of free money is turned on, it will be near to impossible to shut it off.
I'd agree, but the "Great Reset" goal is to create native ferals by the millions alongside the imported ferals, and pay them to eat at McD's. Sorry, but it's a fact.
MS/AR, Iowa cut UE. TN is just $275. Our legislative session is about finished. Unless the Gov does a EO. Memphis, Nashville, Knoxville, and Chattanooga will have a cow.
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