Bureau of Labor Statistics Report

The JOLTS Report Shows a Healthy Labor Market, Not a ‘Sluggish’ One

The March JOLTS report dropped Tuesday morning and the Associated Press immediately informed the nation that the labor market “remained sluggish.”

That’s a strange way to describe a report showing hiring surged by 655,000 to 5.6 million, job openings held steady at 6.9 million, and the quits rate ticked up — all consistent with the March payrolls report that showed 178,000 new jobs and unemployment falling to 4.3 percent.

So, why does it look “sluggish” to the Associated Press? It’s tempting to write this off as pure Trump Derangement Syndrome. There’s an overwhelming urge in the legacy media to describe anything happening in America as “troubled” or unhealthy so long as President Donald Trump is in the White House.

The same outfits that downplayed the surge in inflation under Biden cannot stop talking about an “affordability crisis” now that Trump is in office. But there’s something deeper going on here, something that even some supporters of President Trump have missed.

The deeper error comes from measuring today’s labor market against the pandemic-era hiring bubble of 2021-2022, when job openings hit 12.3 million and hires routinely topped 6.5 million a month. That was an anomaly driven by unprecedented monetary accommodation, fiscal stimulus, pent-up demand, and massive labor reallocation.

Nobody at the time thought those levels were sustainable or healthy. Using them as the baseline for what “normal” looks like is like calling a runner slow because he’s no longer sprinting after the starting gun.

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The Job Openings and Labor Turnover Survey (JOLTS) program of the Bureau of Labor Statistics (BLS) produces monthly and annual estimates of job openings, hires, and separations for the nation. The JOLTS program also produces monthly state estimates for all 50 states and the District of Columbia at the total nonfarm industry level.

Biden's new decision to stick it to the working stiff

Biden Announced that Millions of Americans Will Lose Their Jobs Effective Immediately

Joe Biden has made a decision.

He made an announcement that will cost millions of Americans their jobs.

And now anger is brewing at Joe Biden for hurting so many people.

Joe Biden’s economic policies have been calamitous ever since he took office. He’s brought about sky-high inflation and soaring interest rates.

Americans cannot buy homes and people are having to budget for just basic necessities like groceries.

It’s a large reason why Biden’s approval ratings have fallen so low and now his latest announcement certainly won’t make it any better.

Biden has announced a new policy that ultimately attacks “gig workers” – people who depend on independent contracting jobs like driving for Uber, or shopping for Instacart, to make a living.

Read about it...

Workers want more pay and less hours

The Truth of the matter is that more and more people don't want to work at all. They got used to all that free government money during the pandemic. And they are still crossing our border illegally for all that free stuff.

Turns out if you pay people more per hour, they don't need to work as much. Case in point: People want to work fewer hours than they did before March 2020, according to a working paper published recently by the Chicago Fed.

Why it matters: The findings suggest that the labor market is even tighter than many realize. Pay is better, especially for those at the bottom of the wage scale — and that means people aren't as desperate for more hours or a second job.

Read about it...