Wild times in the job market

Millions of unfilled job openings, workers quitting en masse, soaring wages (at least in some sectors)—wild time in the job market. Here are some graphs to make the point. The Bureau of Labor Statistics does a monthly Job Openings and Labor Turnover Survey (JOLTS) that queries employers on unfilled openings, hires, firings, and quits. August’s data was released this morning, October 12. Here’s a graph of openings, expressed as a percent of current employment, in the private sector as a whole and in accommodations and food services (hotels, casinos, restaurants, and bars, hereafter… Read More