…needs to explain this clear trend. It’s the “musical chairs” graph from the BLS showing the number of unemployed persons per job opening.
A few years ago, it peaked just below seven; now it’s around 3.5. That’s still well above pre-recession levels but like I always say–folksy economist that I am: you can’t get where you need to be if you ain’t movin’ in the right direction.
Moving too slowly and haltingly? Absolutely. But moving nevertheless.
If I had time, I’d figure out where that line would be if we’d implemented that American Jobs Act and added another bunch of jobs.