The Bureau of Labor Statistics today announced the results of the latest Job Openings and Labor Turnover Survey (JOLTS). Only 2.7 million job openings were available as of the end of March, the lowest the BLS has seen since starting the survey eight years ago. This is a decrease of 256,000 job openings since December.
According to analysis done by the Economic Policy Institute, this translates into roughly 4.8 unemployed workers for every available job today.
That number compares with 1.7 unemployed workers for every job opening at the end of 2007 and roughly 2.5 unemployed workers for every job opening shortly after the 2000-2001 recession.
