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CHART OF THE DAY: Job openings increase, but so does competition for them

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Number of unemployed persons per job opening

The Labor Department’s Job Openings and Labor Turnover Survey, or JOLTS, shows job openings increased in June as the number of available positions rose to 5.89 million, compared with 5.37 million in May. Meanwhile, our chart of the day shows how different the labor market is today, as competition for those available openings is at its highest since the Great Recession. There are three unemployed people per job opening today versus fewer than one person available prior to the pandemic.

 

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About Kevin Depew

@KevinDepew

As RSM’s deputy chief economist and industry eminence program leader, Kevin provides RSM’s clients with macroeconomic and industry perspectives and insights they need to successfully manage their middle market businesses. He helps produce two unique reports—The Real Economy and the RSM US Middle Market Business Index—which offer insights into the trends and attitudes relevant to the middle market.

In addition to working with external clients and presenting the middle market economic perspective on webinars and at industry events, Kevin leads the firm’s industry eminence program. The program enables senior analysts across key client industries to forecast industry trends, including how artificial intelligence, machine learning and data will reshape business in the short- and longer term.