Barometer Capital

A record number of unfilled jobs, coupled with a shrinking jobless rate equals…

US Jobless Rate

Earlier this week, the U.S. Labor Department released data showing that the U.S. had more than seven million unfilled jobs at the end of August. This is the biggest number ever recorded since tracking began in 2000.

In fact, available jobs outnumbered unemployed workers (those actively seeking work) by nearly 100,000. A startling statistic.

U.S. Job Openings and the Unemployment Rate

We decided to take this data a step further by overlaying the unemployment rate over the unfilled jobs data. As you can see in the chart, there is a direct correlation between the two.

The next question, then is: where are wages heading in the U.S.?

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