The monthly JOLTS report for March revealed an additional 472k job openings in the US economy. That brings that grand total of US job openings to 6.55 million.
The JOLTs measures the number of specific job openings in an economy. Job vacancies generally include either newly created or unoccupied positions (or those that are about to become vacant) where an employer is taking specific actions to fill these positions.
Yet despite 6.55 million job openings, hourly earnings growth YoY is at an abysmal 2.6%.
Welcome to the global economy!