Unemployed Workers to Job Openings Ratio Remains High
This morning, the Bureau of Labor Statistics released its report on job openings and labor turnover — known as JOLTS. It showed that the number of available positions increased nearly 50,000 to 2.7 million in March, but that the number of people looking for those jobs grew as well. Thus, the unemployed workers to job openings ratio remained high, at 5.6 to 1. The ratio peaked at 6.2 to 1 in November, and its decline has stalled in the first few months of 2010.
Heidi Shierholz at the Economic Policy Institute makes this helpful chart, with shaded areas indicating recessions:
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When the recession started, there were around 1.5 openings per job-seeker.