For the first time in American history, there are more jobs than people in unemployment, according to the Department of Labor. According to data released this week, there were 6.698 million job openings last month, while the total number of unemployed was 6.346 million. That is a total of 352,000 more job openings than unemployed.
Job openings in the US now exceed the total number of unemployed by 352,000. New JOLTS data out this morning show 6.698 million job openings in April, while the total number of unemployed civilians was 6.346 million. pic.twitter.com/n7nHOBij2T
— Brian Wesbury (@wesbury) June 5, 2018
U.S. Secretary of Labor Alexander Acosta said in a statement, “Never before have we had an economy where the number of open jobs exceeds the number of job seekers. This Administration is committed to ensuring that all Americans have the necessary skills to access good, family-sustaining jobs. With the lowest unemployment rate in over 18 years and 3.4 million jobs created since President Trump’s election, this is a great time be a job seeker in the United States.”
The new data follows a robust month of growth for the nation’s economy. The unemployment rate for African-Americans reached a historic low and the gap between white and black unemployed was the smallest in recorded history. Hispanic-Americans and and Asian-Americans also saw unemployment at near record lows. The total unemployment rate of 3.8% is the lowest in decades.