Saturday, May 10, 2014

It's getting easy to find a job in the USA, if you want one.

Dr. Yellen says that the JOLTS (Job Openings and Labor Turnover Report) is an important indicator of the labor market that she watches it carefully.  The March JOLTS came out this morning and the key phrase in the BLS’ commentary is "March was little changed from February."  The labor market was on cruise control.  The press commentary that followed the announcement opined that the report shows no pickup in activity and will not satisfy Mrs. Yellen that conditions are improving.  She can be expected, they think, to remain very dovish.


I find this puzzling. Doesn’t the key chart of JOLTS data above, the “Number of unemployed per job opening,” look great?

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