Job openings came in at a seasonally-adjusted 11.27 million for February, compared to unemployment of 6.27 million. A shortfall of 5 million workers.
Conclusion
An excess of 5 million job openings, above the unemployment level, is expected to maintain upward pressure on wage rates as employers compete for scarce workers. Inflationary pressure is likely to continue.

Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.