The number of job openings hit a new low in April. Not surprisingly, this has caused unemployment to jump again, this time by 0.5 percent in May.
You can read the dismal numbers in this story in the Nashville Business Journal. The basics, though, are this: As of the last day of April, there were 2.5 million job openings in the country, according to the U.S. Department of Labor. That’s the lowest number of openings since the Labor Department first started tracking them in 2000.
The number of openings is also a 3.9 percent drop from the end of March, and a 36.2 percent fall from April of 2008.
So you wonder why unemployment can’t seem to fall? This is why. There just aren’t enough jobs available right now. It’s clear, then, that the nation’s recession won’t end until employers finally begin hiring people again.
When’s that going to happen? That’s the big question.