Washington Post: U.S. Labor Market Is ‘Literally on Fire’ with Record 6.6 Million Jobs Available

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The U.S. Department of Labor reported there were 6.6 million job openings in March, a record high, and enough for the estimated 6.6 million unemployed Americans, writes Heather Long for The Washington Post.

“The labor market is literally on fire it is so hot with job openings,” said Chris Rupkey, chief financial economist at MUFG Union Bank.

March was the first time there has been a job opening for every unemployed person since the Department of Labor started tracking job openings in 2000. White-collar businesses, construction, and warehouses all expanded their recruiting in March.

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The U.S. may soon be in a situation where there are more job openings than people seeking jobs.

Rupkey noted that the number of unemployed Americans fell to 6.4 million in April.

The biggest worry for business executives is that they won’t be able to find enough workers. Unemployment is at its lowest level in nearly two decades, while the jobless rate for African-Americans and Hispanic-Americans is at an all-time low.

Read more about the U.S. labor market in The Washington Post by clicking here.

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