The U.S. is at a Record High for Job Openings: 7.1 Million to be Exact
Are the “Sunday scaries” becoming a Sunday ritual for you? Maybe that’s a sign that it’s time to consider a new job. And now is the best time. Turns out, the job market is popping right now, according to new data released by the Labor Department. The unemployment rate was at a 3.7 percent in September, with wage growth reaching 2.9 percent in August.
President Trump let out a celebratory tweet in regards to the record number of job openings.
Incredible number just out, 7,036,000 job openings. Astonishing – it’s all working! Stock Market up big on tremendous potential of USA. Also, Strong Profits. We are Number One in World, by far!
— Donald J. Trump (@realDonaldTrump) October 16, 2018
(The actual number is 7,136,000 job openings, 100,000 more than Trump noted in his tweet.)
Mary Daly, San Francisco Federal Reserve President, shared in a speech that the labor market is “booming,” and “beyond anyone’s measure of full employment.”
And she’s right. The figure is a record high. The U.S. officially has one plus job opening for every unemployed person in the nation, which is a huge climb in comparison to the Great Recession, where there were over six unemployed people per job on the market.
The last time unemployment rates were this low was in the late 90s.
Not sure if you should stay or go? Try asking for a raise first. “If you’re thinking of quitting, go to your boss, and I bet they give you big money to stay,” said Chris Rupkey, chief financial economist at MUFG Union Bank. “Try it, you’ve got nothing to lose.”
