Job Openings Fall the Most in 2 Years
Commentary
With labor participation rates still far below pre-lockdown norms, and with the rising investment we should be seeing, one might suppose job openings would be growing. Trends are going in the opposite direction. Job openings for March fell the most they have in two years.
This data, however, needs to be unpacked a bit because we are living through a long and dramatic shift away from the labor bubbles of 15 years toward a more rational allocation of resources. In particular, this means jobs in information, profession services, and management roles generally are shrinking. Meanwhile opportunities in retail and hospitality are rising dramatically….