Wolf Richter<\/a>)<\/p><\/blockquote>\n![\"Job](\"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2021\/2021-10-12-quits.png?w=515&ssl=1\")
<\/p>\n
Conclusion<\/h2>\n
The economy is recovering but the persistent gap between job openings and unemployment suggests that upward pressure on wages is likely to continue into next year. Rising wage rates add pressure on prices of consumer goods and services, adding to the inflationary spiral.<\/p>\n","protected":false},"excerpt":{"rendered":"
Job openings fell by 660k in August, from 11.10 million to 10.44 million. Unemployment fell by less, from 8.70 million to 8.38 million (-320k), as absentees return to the workforce. Unemployment declined steeply (-710k) to 7.67 million in September and we expect an even larger decline in job openings as more return to the workforce. … <\/p>\n
Continue reading “Job openings flag upward pressure on wages”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[46,13,34],"tags":[314,4874,5212,5213,3531],"class_list":["post-28320","post","type-post","status-publish","format-standard","hentry","category-deficit-spending-employment","category-inflation-economy","category-us-canada-countries-regions","tag-average-hourly-earnings","tag-job-openings","tag-jolts","tag-u3","tag-unemployment"],"yoast_head":"\nJob openings flag upward pressure on wages - the patient investor<\/title>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Job openings flag upward pressure on wages - the patient investor\" \/>\n<meta property=\"og:description\" content=\"Job openings fell by 660k in August, from 11.10 million to 10.44 million. 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Job openings of 11.27 million in February exceeded unemployment by 5 million. The shortfall of workers is expected to maintain upward pressure on wages for\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"Average Hourly Earnings","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-wages.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-wages.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-wages.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-04-01-wages.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":36972,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/09\/03\/more-us-jobs-growth\/","url_meta":{"origin":28320,"position":2},"title":"More US jobs growth","author":"Colin Twiggs","date":"September 3, 2022","format":false,"excerpt":"The US economy added 315K new jobs in August, but the rate of growth is clearly slowing. Unemployment also rose, by 340K, suggesting a 655K increase in the workforce as rising prices and declining stock values reduce the allure of early retirement. 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Hourly earnings growth was 6.5% for the 12 months ended May. We expect a down-turn for June, as recession fears grow, but the shortage of workers\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"Job Openings & Unemployment (U3)","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-07-jolts-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-07-jolts-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-07-jolts-u3.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-07-07-jolts-u3.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":27227,"url":"https:\/\/thepatientinvestor.com\/index.php\/2021\/08\/07\/rising-wages-inflation-but-4-6m-missing-services-jobs\/","url_meta":{"origin":28320,"position":4},"title":"Rising wages inflation but 4.6m missing services jobs","author":"Colin Twiggs","date":"August 7, 2021","format":false,"excerpt":"Total employment increased by a healthy 943,000 in July. But total employment is still 5.7 million below its February '20 high. Unusually high job openings reflect the slow return to the workforce -- encouraged by the extra $300 per week in unemployment benefits -- and account for 2 million of\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":38458,"url":"https:\/\/thepatientinvestor.com\/index.php\/2022\/11\/02\/economy-slows-but-labor-market-remains-tight\/","url_meta":{"origin":28320,"position":5},"title":"Economy slows but labor market remains tight","author":"Colin Twiggs","date":"November 2, 2022","format":false,"excerpt":"An unexpected rise in job openings, to 10.7 million for September, warns that the labor market is still tight. The gap between job openings and unemployment widened to 4.9 million. Upward pressure on wage rates is expected to continue, with annual growth in both employment cost (ECI) and average hourly\u2026","rel":"","context":"In "Deficit Spending & Employment"","block_context":{"text":"Deficit Spending & Employment","link":"https:\/\/thepatientinvestor.com\/index.php\/category\/economy\/deficit-spending-employment\/"},"img":{"alt_text":"Job Openings & Unemployment","src":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-01-jolts-u3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-01-jolts-u3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.incrediblecharts.com\/images\/2022\/2022-11-01-jolts-u3.png?resize=525%2C300&ssl=1 1.5x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/28320","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/comments?post=28320"}],"version-history":[{"count":6,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/28320\/revisions"}],"predecessor-version":[{"id":28329,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/posts\/28320\/revisions\/28329"}],"wp:attachment":[{"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/media?parent=28320"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/categories?post=28320"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thepatientinvestor.com\/index.php\/wp-json\/wp\/v2\/tags?post=28320"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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