Job openings continue to outnumber the unemployed

The latest Job Openings and Labor Turnover Survey (JOLTS) came out on October 4, and it indicates that employers are a little less keen to hire than they were a month ago. The U.S. economy had slightly more than 10 million job openings in September, down from 11.2 a month before and down from a peak of 11.9 in March.

Still, the number of job openings continues to outnumber the unemployed. Shortly after the pandemic started, there were nearly five unemployed per job opening; now it’s 0.6 unemployed per job opening. Of course, this doesn’t mean that every unemployed person can find a job; usually, a mismatch in skills or location prevents people from finding work. But the large number of open positions still bodes well for those looking for a job.