On Monday, with far less fanfare than it deserved, the Bureau of Labor Statistics (BLS) released its Job Openings and Labor Turnover Summary (commonly know as the JOLTS Report) for April – and President Trump notched yet another economic victory for American workers.
For the 14th consecutive month our economy produced more job openings (7.4 million) than people unemployed (5.8 million). The first time that ever happened since the BLS began reporting the data in 2000 was – well – 14 months ago. April’s job openings were particularly impressive because the number of workers hired also increased to 5.9 million, the highest number recorded in the data series' 19-year history.
For those still clinging to the increasingly discredited notion that Trump is merely continuing President Barack Obama’s economic recovery – think former Vice President Joe Biden – there was not a single month in the eight years of the Obama administration where we had more job openings than people unemployed. Not one.
In fact, when Obama and Biden left office in January of 2017, there were nearly 2 million more people unemployed than job openings. In April, under Trump, there were nearly 1.6 million more job openings than people unemployed.
Job openings have clearly accelerated under Trump. During Obama’s last 27 months in office, the economy added an average of 21,000 job openings per month. In contrast, during Trump’s first 27 months, that number has more than tripled to an average of 68,000 per month.