Posted on 06/08/2021 8:49:47 AM PDT by blam
In case we needed more proof that the US labor market is in a historic supply-demand mismatch crisis sparked by Biden’s generous unemployment benefits, 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 record 998K to 9.286MM in April from an upward revised 8.288MM in march, and the highest in the history of US jobs data!
The record number was also a record beat to the already lofty expectations of a 8.2 million print.
Looking at the details, the increase in job openings was driven by a number of industries with the largest increases in accommodation and food services (+349,000), other services (+115,000), and durable goods manufacturing (+78,000). The number of job openings decreased in educational services (-23,000) and in mining and logging (-8,000). The number of job openings increased in all four 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 526K in April, down from 1.4 million in March. Yes: despite the covid shock, there are just half a 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 April there were jus 1.06 unemployed workers for every job opening, down from 1.19 in March, 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 April hiring surged for a 4th consecutive month to 6.075MM, up from 6.009MM in March.
P>
According to the BLS, hires increased in accommodation and food services (+232,000) and in federal government (+10,000). Hires decreased in construction (-107,000), durable goods manufacturing (-37,000), and educational services (-32,000).
Curiously, as hires soared, total separations also increased to 5.8 million (+324,000). The total separations rate was little changed at 4.0 percent. The total separations level increased in retail trade (+116,000) and in transportation, warehousing, and utilities (+60,000).
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 April the level of quits – or people leaving their job voluntarily due to better prospects elsewhere – soared by a whopping 384K to a record 3.985 million, after rising by 185K and 77K in the previous two months. The number of quits increased in a number of industries with the largest increases in retail trade (+106,000), professional and business services (+94,000), and transportation, warehousing, and utilities (+49,000).
” and can look at bikinis.”
I was a certified CA lifeguard when I was at Stanford BECAUSE of that. Motivation is underrated in life lol. I had fellow grads who told me to avoid the public pools due to politics: make sure pervs are faraway from the fence , copter’ parents etc.
“lifeguards. Easy job”
If one were to ask “Are ignorant, or stupid?” what would be the reply?
Public Pool lifeguard has crappy pay AND is dangerous.
(Best paying gig is Adult Pool partys at a private pool)
Blow a whistle on some jack-wagon doing crazy things, get knifed by a 13 yr old, or followed home by the low-life’s Posse?
Why do it? Young folks can just float some AMC calls and make Bank while sipping a Red Bull.
It’s a different world. Bro
Guess what? A lot of employers won’t hire anyone who does not get the vaccine. Those employers deserve to have no help.
No he’s buying Votes and we all know it!
That ‘free-money’ wasn’t enough for all these months to cover rent. So that no-eviction ‘rule’ laid down by the government...closes out at the end of June.
Lot of chatter going on presently of what effect this will cause, and some suggesting in the 15-to-20 million range of people who will get eviction notices in July, and be on the street by August.
Flying a plane is easy too, when everything is going ok.
A pilot is paid to be there for when things go wrong, as is the case with a lifeguard.
Let’s just sit back and let the government put free money in our bank accounts. /s
They’re tired of The Man keeping them down.
Most of these people are stars in the industry. It’s astonishing how ‘effing stupid these employers are.
Yours is an insightful point. Exactly like masking, avoiding work (i.e., laziness) has become nothing more than a vile, nasty bad habit; with masking, a vile, nasty, unhealthy bad habit which, like any bad habit, takes courage and strength to break.
How many of these vacancies are in Democrat supported riot areas?
How many of these vacancies are due to retirements, either directly from the position or from when the job holder moved into a position vacated by the retiree?
How many of these jobs are part-time or seasonal and in an area locked down by Governors' diktats?
How many of these were second jobs for people? Who would go back to tending bar in a restaurant that's limited to 50% capacity?
How many of these positions are on the books but won't be filled?
Wages should be going up if there is a shortage of labor. Are they?
Maynard!
Wages ARE going up in many industries. In my neck of the woods I pass by billboards advertising wages of $22/hour for warehouse jobs that require almost no skills at all.
The more I look at this the less I buy that it’s a problem.
We are reopening from a 15 month shutdown. Of course the job openings come first. People are perusing their opportunities.
This will work itself out in a few months, but just like under Obama, more people will use the welfare system than we saw happen under Trump. It’s always that way when Democrats are in power. I have a friend in Cali who hasn’t worked in 25 years. His wife makes $50k as a teacher and he sits on his butt collecting various govt goodies. Until 25 years ago he worked part-time. Now he doesn’t even bother with that.
Just today, the company that’s supposed to put in drainage pipes in my back yard called and said they’ve got a wage dispute going on and will call me when it’s settled.
It’s hard to figure out how high unemployment rates and wage demands are related, but I think skilled workers, as opposed to illiterate illegals, are flexing their muscles.
I’m doing retirement planning myself.
**************
Pay down/off your debts as much as possible. Retirement will cost more than you think, especially with inflation rising. Make sure you have some income that rises to keep up with it and the tax burden.
It will be a bit of a financial adjustment but the freedom afforded in retirement can be wonderful.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.